ArcelorMittal: Update on the Long Steel Business and Cautionary Announcement

Shareholders are referred to the announcement by ArcelorMittal South Africa dated 28 February 2025 in which they were advised, inter alia, that the board of directors of ArcelorMittal South Africa and its management had commenced the final wind down of ArcelorMittal South Africa’s Long Steel Business (“Longs Business”).

Government subsequently issued an announcement stating that it would continue to engage with ArcelorMittal South Africa in this regard and is doing so.

ArcelorMittal South Africa is engaging with stakeholders, including Government, regarding funding and related matters to enable the deferral of the wind down of the Longs Business, as well as regarding the interventions previously announced.

It should be noted that without agreement regarding the funding and related matters, the deferral of the wind down of the Longs Business will not be feasible. Accordingly, the wind down process has not been stopped and is being managed in a manner that accommodates ongoing funding discussions.

During this time ArcelorMittal South Africa has received various approaches regarding the strategic alternatives for the Company, as well as the Longs Business. None of the approaches constitute a firm intention to make an offer in terms of the Companies Act, 2008. The Company will continue to explore strategic alternatives where appropriate.

Further announcements will be issued regarding these matters as and when appropriate.

Shareholders are advised to exercise caution in trading in their ArcelorMittal South Africa shares until a further announcement is made.