Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 291

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 291
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 Other than Mr. Lakshmi N. Mittal, each director and member of senior management beneficially owns less than 1% of ArcelorMittal’s shares. See "—Major shareholders” for the beneficial share ownership of the Significant Shareholder, Mr. Lakshmi Mittal, Mr. Aditya Mittal and Ms. Vanisha Mittal Bhatia.

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| Management report |

In accordance with the Luxembourg Stock Exchange’s 10 Principles of Corporate Governance, independent non-executive members of ArcelorMittal's Board of Directors do not receive share options, RSUs or PSUs, and the policy of the Company is not to grant any share-based remuneration to members of the Board of Directors who are not executives of the Company. See “Management and employees—Compensation” for a description of options, RSUs and PSUs held by members of ArcelorMittal’s senior management, including the Executive Chairman and CEO. The following tables summarize outstanding PSUs and RSUs granted to the members of the Executive Office and Executive Officers of ArcelorMittal for the last five years as of December 31, 2024.

|                  | PSUs granted in 2024 | PSUs granted in 2023 | PSUs granted in 2022 | PSUs granted in 2021 |
| Executive Office |              241,856 |              141,973 |              141,564 |              109,143 |
| Term (in years)  |                    3 |                    3 |                    3 |                    3 |
| Vesting date1    |      January 1, 2028 |      January 1, 2027 |      January 1, 2026 |      January 1, 2025 |

1 See “Management and employees—Compensation—Remuneration—Long-term incentives plans”, for vesting conditions.

|                               | RSUs granted inDecember 2024 | PSUs granted inDecember 2024 | RSUs granted inDecember 2023 | PSUs granted inDecember 2023 | RSUs granted inDecember 2022 | PSUs granted inDecember 2022 | PSUs granted inDecember  2021 |
| CFO andOtherExecutiveOfficers |                       70,400 |                      302,100 |                       54,800 |                      233,100 |                       41,500 |                      113,900 |                        89,200 |
| Term (in years)