Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 278

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 278
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 charge of specific business segments or markets; • site visits of directors to plants and R&D centers; and • development sessions on specific topics of relevance, such as health and safety, commodity markets, HR, investor relations, accounting, the world economy, changes in corporate governance standards, directors’ duties and shareholder feedback. The ARCG Committee oversees director training and development. This approach allows induction and learning opportunities to be tailored to the directors’ committee memberships, as well as the Board of Directors' specific areas of focus. In addition, this approach ensures a coordinated process in relation to succession planning, Board renewal, training, development and committee composition, all of which are relevant to the ARCG Committee’s role in securing the supply of talent to the Board. Board of Directors committees The Board of Directors has three committees: • the Audit & Risk Committee, • the ARCG Committee, and • the Sustainability Committee. Audit & Risk Committee

| 4 members(100%independent) | 6 meetings(2024) |

In 2024, 6 meetings of the Audit & Risk Committee were held with an attendance rate of 100%. The primary function of the Audit & Risk Committee is to assist the Board in fulfilling its oversight responsibilities by reviewing: • the integrity of the financial reports and other financial information provided by the Company to any governmental body or the public; • the Company’s compliance with legal and regulatory requirements; • the registered public accounting firm’s (Independent Auditor) qualifications and independence; • the Company’s system of internal control regarding finance, accounting, legal compliance, ethics and risk management that management and the Board have established;

158

| Management report |

• the Company’s auditing, accounting and financial reporting processes generally; • the identification and management of risks to which the ArcelorMittal group is exposed; and • conducting investigations into any matters, including whistleblower complaints, within its scope of responsibility and obtaining advice from outside legal, accounting, or other advisers, as necessary, to perform its duties and responsibilities. The Audit & Risk Committee must be composed solely of independent members of the Board of Directors. The members are appointed by the Board of Directors each year after the annual general meeting of shareholders. The Audit & Risk Committee is comprised of four members, all of whom must be independent under the Company’s corporate governance guidelines, the NYSE standards as applicable to foreign private issuers and the 10 Principles of Corporate Governance of the Luxembourg Stock Exchange. The Audit & Risk Committee makes decisions by a simple majority with no member having a casting vote. At