ArcelorMittal confirms that its Italian subsidiary (ArcelorMittal Italia “AMI”) has highlighted to the Italian government its concerns about the current text of the Crescita law decree.

If ratified as currently drafted, the provision concerning the Taranto plant would impair any operator’s ability to operate the plant while implementing the environmental plan approved by the Italian Government in September 2017, including for ArcelorMittal. The Taranto plant has been under seizure since 2012 and cannot be operated without legal protection until the environmental plan is implemented.

The 2017 environmental plan is designed to address the Taranto plant’s long-standing issues and transform it into a state-of-the-art European steel facility by applying best available techniques, with an overall environmental investment by AMI of over €1.15 billion. The implementation of the agreed plan is proceeding according to schedule.

However, the Crescita law decree removes the legal safeguards existing when ArcelorMittal agreed to invest in the Taranto plant. These safeguards are necessary until the company has completed the environmental plan to avoid incurring liability for issues that it did not create.

The law decree is to be ratified into law by 29th June. AMI remains hopeful that, as part of the amendment process, legal certainty will be restored in the interest of the Italian economy and of the stakeholders of ArcelorMittal Italia, enabling AMI to continue operate of the plant while completing the environmental requalification plan.

About ArcelorMittal

ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and primary steelmaking facilities in 18 countries. In 2019, ArcelorMittal had revenues of $70.6 billion and crude steel production of 89.8 million metric tonnes, while iron ore production reached 57.1 million metric tonnes. Our goal is to help build a better world with smarter steels. 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 electric vehicles and 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. This is what we believe it takes to be the steel company of the future. 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). For more information about ArcelorMittal please visit: http://corporate.arcelormittal.com/

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