ArcelorMittal — Report Publication Announcement 2020

Apr 28, 2020

press release

ArcelorMittal announces the publication of first quarter 2020 EBITDA sell-side analyst consensus figures

The consensus figures are based on analysts' estimates recorded on an external web-based tool provided and managed by an independent company, Vuma Financial Services Limited (trade name: Vuma Consensus).

To arrive at the consensus figures below, Vuma Consensus has aggregated the expectations of sellside analysts who, to the best of our knowledge, cover ArcelorMittal on a continuous basis. This is currently a group of about 20-25 brokers.

The listed analysts follow ArcelorMittal on their own initiative and ArcelorMittal is not responsible for their views. ArcelorMittal is neither involved in the collection of the information nor in the compilation of the estimates.

EBITDA consensus estimates

Period	Number of sell-side analysts participation	EBITDA consensus average \$ million
1Q 2020	18	\$867

The sell-side analysts who cover ArcelorMittal and whose estimates are included in the Group consensus outlined above are the following:

• Ahorro Cesar Bergon
• Bank of America Merrill Lynch Jason Fairclough
• BBVA Luis de Toledo
• Citi Ephrem Ravi
• Commerzbank Ingo-Martin Schachel
• Credit Suisse Carsten Riek
• Deutsche Bank Bastian Synagowitz
• Exane Seth Rosenfeld
• Groupo Santander Robert Jackson
• GVC Gaesco Beka Iñigo Recio Pascual
• ING Stijn Demeester
• Jefferies Alan Spence
• JPM Luke Nelson
• KeyBanc Phil Gibbs
• Morgan Stanley Alain Gabriel
• Oddo Alain Williams
• Societe Générale Christian Georges
• UBS Myles Allsop

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/