Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 263

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 263
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 (as defined in the policy) and any transition period (that results from a change in the Company’s fiscal year) of less than nine months within or immediately following those three completed fiscal years. Compensation is deemed to be received in the Company’s fiscal period during which the Financial Reporting Measure specified in the Incentive-based Compensation award is attained (capitalized terms as defined in the policy). Under the Clawback Policy, ArcelorMittal will recover reasonably promptly erroneously paid Covered Compensation in the event it is required to prepare an accounting restatement due to the material noncompliance of ArcelorMittal with any financial reporting requirement under the U.S. securities laws, including any required accounting restatement to correct an error in a previously issued financial statement that is material to the previously issued financial statement, or that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period.

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| Management report |

Employees As of December 31, 2024, ArcelorMittal employed approximately 125,416 full time equivalents ("FTE") employees directly, as well as a large number of contractors. The Company recruits, hires, promotes and retains employees based on merit and demonstrated skills. The table below sets forth the number of FTE employees respectively by segment as of the end of each of the past three years.

|                       |         | As of December 31, |         |
| Segment               |    2024 |               2023 |    2022 |
| North America         |  13,861 |             14,418 |  14,270 |
| Brazil                |  22,624 |             22,042 |  19,644 |
| Europe                |  48,544 |             49,959 |  49,318 |
| Sustainable Solutions |  12,843 |             12,194 |  11,988 |
| Mining                |   4,758 |              4,473 |   4,626 |
| Others1               |  22,786 |             23,670 |  54,506 |
| Total                 | 125,416 |            126,756 | 154,352 |

1. ArcelorMittal Temirtau is included until December 31, 2022 The people strategy To meet the evolving needs of its people and address the challenges of a shifting skills economy, technological advancements, and generational transitions,