Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 64

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 64
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 see a situation which they deem to be unsafe. • Stressing the need to report and analyze all incidents, so that employees and management learn from them across the Company. • Highlighting the role effective management systems and sharing of best practices has in driving continuous improvements. Further oversight of safety performance is provided by the GHSC which is chaired by the Head of Corporate H&S. This committee provides governance, oversight, alignment of H&S initiatives and ensures best practice is shared across all segments. In June 2022, the executive Short-Term Incentive Plan ("STIP") was linked to the frequency of proactive Potential Serious Injury and Fatality events ("PSIFs") rates with a fatality frequency rate circuit breaker. The proportion of bonuses linked under this scheme to safety was increased from 10% to 15% in 2021. Safety performance also represents 10% of the Long-Term Incentive Plan. ArcelorMittal dss+ workplace safety audit In October 2024, the Group published the recommendations of the comprehensive dss+ safety audit that was commissioned at the end of 2023. The audit, which was ongoing for nine months across all geographies, functions and levels of the organization, had three main scopes: • Fatality prevention standards for the three main occupational risks leading to serious injuries and fatalities (work at heights, vehicle driving ad energy isolation); • Process Safety Management ("PSM") focused on the highest risk assets; and • In-depth assessment of H&S systems, processes and capabilities; governance and assurance processes; and data management It was a comprehensive audit with dss+ having unprecedented access across the Group from the Board to the shop floor. Specifically, 155 sites (including joint ventures), were audited for the FPS compliance and 14 highest risk assets were audit for the PSM. For the H&S management systems and governance and assurance reviews, more than 280 employees including the Board of Directors, senior and middle management, H&S personnel, and contract employees were interviewed. Further, the auditors attended more than 60 management and H&S meetings; and conducted more than 80 focus group sessions with shop floor employees (union and non-union), supervisors and middle management. dss+ presented its recommendations to the Company’s Board of Directors, the Executive Office and the Group Management Committee. Overall, while there are areas of excellence in the Group, variability in performance exists which must be addressed by initiatives that fast-track the strengthening of “one safety culture,” underpinned by enhanced governance