ArcelorMittal ("ArcelorMittal" or "The Company") is pleased to announce a positive outcome to the covenant amendment request to existing lenders in the EUR17,000,000,000 Credit Facilities, the USD4,000,000,000 Revolving Credit Facility and the USD3,250,000,000 Forward Start Facility (together the "Facilities").

The covenant consent process does not increase the borrowing costs under these facilities unless the leverage ratio of net debt to ebitda rises above 3.5x.

The Company has received consents from lenders aggregating above 90% of commitments in each Facility with no declines to date. While a number of lenders continue to work on the request, the consent threshold for each Facility has been comfortably achieved. Further details will be made available by the Company alongwith Earnings Announcement for second Quarter on July 29th.

Calyon and HSBC Bank plc acted on behalf of ArcelorMittal as the Coordinators for the amendment process.

About ArcelorMittal

ArcelorMittal is one of the world’s leading integrated steel and mining companies with a presence in 60 countries and primary steelmaking operations in 15 countries. It is the largest steel producer in Europe, among the largest in the Americas, and has a growing presence in Asia through its joint venture AM/NS India. ArcelorMittal sells its products to a diverse range of customers including the automotive, engineering, construction and machinery industries, and in 2023 generated revenues of $68.3 billion, produced 58.1 million metric tonnes of crude steel and, 42.0 million tonnes of iron ore. Our purpose is to produce smarter steels for people and planet. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for the renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change. ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
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