ArcelorMittal announces the commencement of a new share buyback program over the period 2025-2030

Core Viewpoint - ArcelorMittal has initiated a new share buyback program following the completion of a previous program, with the first tranche involving up to 10 million shares, reflecting the company's commitment to returning capital to shareholders and managing its share capital effectively [1][6]. Group 1: Share Buyback Program - The new share buyback program will be conducted in tranches and may continue until May 2030, with the first tranche commencing immediately [1]. - The first tranche allows for the repurchase of up to 10 million shares, authorized by the annual general meeting of shareholders held on 30 April 2024 [1]. - The actual number of shares repurchased will depend on post-dividend free cash flow, shareholder authorization, and market conditions [1]. Group 2: Company Overview - ArcelorMittal is a leading integrated steel and mining company operating in 60 countries, with primary steelmaking operations in 15 countries [3]. - In 2024, the company generated revenues of $62.4 billion, producing 57.9 million metric tonnes of crude steel and 42.4 million tonnes of iron ore [3]. - The company serves a diverse customer base across various industries, including automotive, engineering, construction, and machinery [3]. Group 3: Corporate Purpose - The company's purpose is to produce innovative steels that are energy-efficient, low in carbon emissions, and cost-effective, supporting the transition to renewable energy infrastructure [4].