ArcelorMittal

Environmental & Social Information • Jun 30, 2025

Table of Contents

Introduction	2
Basis of preparation	2
Overview of payments	4
Payments per government and project	5
Bosnia and Herzegovina	5
Brazil	5
Canada	5
Liberia	6
Mexico	6
Ukraine	6

Introduction

ArcelorMittal has prepared this consolidated report (the "Report") on payments to governments with respect to its extractive activities in accordance with the European Union directives 2013/34/EU and 2013/50/EU ("EU Directives") as transposed into the Luxembourg laws of December 18, 2015 and May 10, 2016 (the "Transparency Law"). These EU Directives have been derived from the Extractive Industries Transparency Initiative ("EITI"), a global standard to promote the open and accountable management of natural resources of which ArcelorMittal is a corporate supporter in order to strengthen governance, foster socio-economic development and help the overall business climate to become more open, fair and competitive. The "Basis of preparation" section provides information about the content of the Report, the types of payments included and the reporting principles that have been applied in preparing the Report.

The latest edition of ArcelorMittal's sustainability report which can be accessed at https://corporate.arcelormittal.com/investors/financial reports/integrated annual review provides further details on the broader spectrum of socio-economic contributions ArcelorMittal brings to local communities and countries in respect of its operations.

Basis of preparation

Under the Transparency Law, ArcelorMittal is required to prepare a consolidated report on payments made to governments in relation to its extractive industries including any subsidiary included in its consolidated financial statements, which are available on the Company's website https://corporate.arcelormittal.com/financial reports/annual reports.

Reporting principles

The Transparency Law requires payments to be reported when they are made to governments by ArcelorMittal for its extractive activities.

The Report states the total amount of payments made to each government in accordance with the Transparency Law and the amount per type of payment made to each government.

Payments in the Report are also attributed to a specific project or disclosed at an entity level. Where payments have been attributed to a project, the Report shows the total amount of payments made for each project and the amounts per type of payment.

The Transparency Law also prescribes that the disclosure of payments should reflect the substance of each payment and the relevant project concerned. Accordingly, ArcelorMittal has applied the following reporting principles:

• Payments made to governments by ArcelorMittal subsidiaries are reported in full including payments made to governments in connection with joint ventures to the extent that ArcelorMittal makes the relevant payment.
• Payments made to governments by joint operations in which ArcelorMittal exercises joint control and has rights to the assets and obligations for the liabilities relating to the arrangement are reported in proportion of ArcelorMittal's share.
• Payments made to governments by joint ventures and associates accounted for under the equity method are not included in this Report.
• Amounts payable to governments computed for extractive activities which are fully or partly offset by receivable amounts from nonextractive activities and as a consequence result in a nil or reduced net payment to governments are reported as nil or reported up to the net amount.
• Where a payment made to a government relates to activities that are both reportable under the Transparency Law and not reportable, the entire payment is reported if it is not possible to disaggregate it on a reasonable basis.
• A payment to a government relating to more than one project (for example income tax) is reported in aggregate if it is not possible to disaggregate the payment per project.

Activities within the scope of the Report

The Report includes all payments made to governments with respect to ArcelorMittal's activities involving exploration, prospecting, discovery, development and extraction of minerals. This encapsulates the key stages of extractive activity, beginning with the search for natural resources and includes the evaluation of resource bearing geological features, the construction of facilities to enable the extraction of natural resources and the production of the natural resource up to the point that the extracted material is salable.

Payments made to governments relating to distribution activities and commercial development are not included in this Report as they are not within the scope of the Transparency Law.

Government

Under the Transparency Law, a government is defined as any national, regional or local authority of a country, including department, agency or undertaking controlled by that authority. In some countries, certain aboriginal or indigenous communities fall within the definition of a government.

Payments

Except when stated otherwise, payments are reported on a cash basis meaning that they are reported in the period in which the payment occurred as opposed to being reported on an accrual basis which would mean they are reported in the period for which they are due. Refunds are also reported in the period they are received and are presented as negative amounts in the Report.

Payments in kind made to governments would also be included in this Report in accordance with the Transparency Law.

Project definition

The Transparency Law requires payments to be reported by project (as a sub category by country). It defines a project as the operational activities which are governed by a single contract, license, lease, concession or similar legal agreements and form the basis for payment of liabilities to a government. If these agreements are substantially interconnected, they should be treated as a single project. In accordance with the Transparency Law, "substantially interconnected" means forming a set of operationally and geographically integrated contracts, licenses, leases or concessions or related agreements with substantially similar terms that are signed with a government, giving rise to payment liabilities. These agreements may themselves be governed by a single contract, joint venture, production sharing agreement or other overarching legal agreement. Factors used to determine whether contracts or licenses are operationally and geographically integrated may include their common management framework, proximity and use of common infrastructure. The Report only contains details of projects for which reportable payments were made during the reporting period.

Disclosure threshold

The transparency Law requires payments exceeding €100,000 for a single payment or a series of related payments during the financial year to be included in this Report.

Reporting currency

All payments are reported in U.S. dollars corresponding to the presentation currency of ArcelorMittal's consolidated financial statements. Payments made in currencies other than U.S. dollar have been translated at the average exchange rate of the reporting period.

Types of payments

The Transparency Law refers to "payments" as an amount paid in cash or in kind for relevant activities where the payment is any of the following types:

Production entitlements

Production entitlements refer to production-sharing agreements following which the government is entitled to a share of the ore extracted. Such entitlements are regarded as payments in kind. There were no such payments reportable for the year ended December 31, 2024.

Taxes

The Report includes taxes levied on income, production or profits from extractive activities or withheld from dividends, royalties and interests. Taxes levied on consumption, sales, environmental taxes, property taxes, custom duties and personal income taxes are not reportable under the Transparency Law.

Royalties

Royalties represent a share of the output or the profit that can be paid in cash or in kind.

Dividends

Dividends paid in lieu of production entitlements or royalties are included in this Report. However, dividends paid to a government as a common shareholder are not reported to the extent that the dividend is paid to the government on the same terms as dividends paid to other common shareholders. There were no such payments reportable for the year ended December 31, 2024.

Fees

ArcelorMittal has included in this Report license fees, rental fees, entry fees and other payments that are made in consideration for licenses and/or concessions. Fees paid to governments for administrative services or supplies are not included in this Report.

Bonuses

Bonuses included in this Report correspond to signature, discovery and production bonuses. There were no such payments reportable for the year ended December 31, 2024.

Infrastructure improvements

Such payments correspond to payments made for infrastructure (for example roads or buildings) that forms part of the fundamental facilities and systems serving a community or area. Such payments are included in the Report regardless of whether or not these payments constitute a contractual obligation and they are reported when the relevant assets are handed over to the government.

Other considerations

Payments included in this Report are presented in U.S. dollars with all amounts rounded to the nearest thousands.

Overview of payments

The table below shows the payments made to governments by the Company during the year ended December 31, 2024 by country and type of payment.

				Infrastructure
in thousands U.S. dollars	Taxes	Royalties	Fees	improvements	Total
Bosnia and Herzegovina	—	1,214	—	—	1,214
Brazil	—	9,565	—	—	9,565
Canada1	465,455	6,577	13,096	9,360	494,488
Liberia	746	7,413	6,241	2,005	16,405
Mexico	18,718	—	5,116	—	23,834
Ukraine1	8,505	—	14,308	—	22,813
Total	493,424	24,769	38,761	11,365	568,319

1 Taxes include payments or refunds for activities that are both reportable under the Transparency Law and not reportable, as it is not possible to disaggregate on a reasonable basis.

Payments per government and project

The tables below show the payments made to governments by the Company on a government and project basis for each type of payment during the year ended December 31, 2024.

Bosnia and Herzegovina

Payments per government		Taxes		Royalties	Fees	Total
Republic of Srpska				1,214	—	1,214
Payments per project	Mine type		Taxes	Royalties	Fees	Total
Mine Prijedor	Iron ore		—	1,214	—	1,214
Brazil
Payments per government			Taxes	Royalties	Fees	Total
DNPM – National Department of Mineral Production			—	8,372	—	8,372
State Finance Secretary (SEFAZ - MG)			—	1,193	—	1,193
Total Brazil			—	9,565	—	9,565
Payments per project	Mine type		Taxes	Royalties	Fees	Total
Andrade Mine	Iron ore		—	6,600	—	6,600
Serra Azul Mine	Iron ore		—	2,965	—	2,965
Total Brazil			—	9,565	—	9,565

Canada

				Infrastructure
Payments per government	Taxes	Royalties	Fees	improvements	Total
Innu Takuaikan Uashat Mak	—	6,577	—	—	6,577
Ministère des Finances du Québec	148,585	—	1,331	—	149,916
Ministere des Finances du Québec (Refund)	(6,930)	—	—	—	(6,930)
University of Toronto	—	—	261	—	261
Receveur général du Canada	323,590	—	10,968	9,360	343,918
Ville de Fermont	—	—	536	—	536
Government of Alberta	210	—	—	—	210
Total Canada	465,455	6,577	13,096	9,360	494,488

	Mine				Infrastructure
Payments per project	type	Taxes	Royalties	Fees	improvements	Total
Mines Canada ( Mont Wright - Fire Lake)	Iron ore	58,696	6,577	13,096	9,360	87,729
Payments not allocated to a specific project1		406,759	—	—	—	406,759
Total Canada		465,455	6,577	13,096	9,360	494,488

1 Taxes include payments for activities that are both reportable and not reportable under the Transparency Law, as it is not possible to disaggregate on a reasonable basis.

Liberia

				Infrastructure
Payments per government	Taxes	Royalties	Fees	improvements	Total
Ministry of Finance /LRA	746	7,413	5,040	—	13,199
Ministry of Mines	—	—	1,201	—	1,201
Ministry of Public Works	—	—	—	2,005	2,005
Total Liberia	746	7,413	6,241	2,005	16,405

					Infrastructure
Payments per project	Mine type	Taxes	Royalties	Fees	improvements	Total
Mine Liberia (Western Range Project)	Iron ore	746	7,413	6,241	2,005	16,405
Total Liberia		746	7,413	6,241	2,005	16,405

Mexico

Payments per government	Taxes	Royalties	Fees	Total
Internal Revenue Service (Secretaria de Hacienda)	10,347	—	—	10,347
Ministry of Economy (Secretaria de Economía)	8,371	—	5,116	13,487
Total Mexico	18,718	—	5,116	23,834

	Mine
Payments per project	type	Taxes	Royalties	Fees	Total
Faraon / FE	Iron ore	—	—	1,919	1,919
MS Oaxaca	Iron ore	—	—	1,018	1,018
Peña Colorada	Iron ore	16,811	—	477	17,288
Las Truchas	Iron ore	1,722	—	1,259	2,981
San Jose	Iron ore	185	—	443	628
Total Mexico		18,718	—	5,116	23,834

Ukraine

Payments per government	Taxes	Royalties	Fees	Total
Municipality of Kryvyi Rih	—	—	14,308	14,308
State Fiscal Service (State Budget)1	8,505	—	—	8,505
Total Ukraine	8,505	—	14,308	22,813

Payments per project	Mine type	Taxes	Royalties	Fees	Total
AM Berislav limestone mine (Staroselskoe pit)	Limestone	111	—		111
AMKR Open Pits (#2 Novokrivorozhskiy and #3 Valyavkinskiy deposit)	Iron ore	8,213	—	13,573	21,786
AMKR Underground Mine (Kirova Mine and Open pit Yuzhnyi)	Iron ore	181	—	735	916
Payments not allocated to a specific project1		—	—	—	—
Total Ukraine		8,505	—	14,308	22,813

1 Taxes include payments and refunds for activities that are both reportable and not reportable under the Transparency Law, as it is not possible to disaggregate on a reasonable basis.