Company: MT
Filing Date: 2025-08-01
Form Type: 6-K
Source: 0001243429-25-000067
Chunk: 64

Company: ArcelorMittal
Filing Date: 2025-08-01
Form: 6-K
Chunk 64
---
 most actively traded on the last trading day of the period, multiplied by the number of units held without consideration of transaction costs. Portfolio of derivatives Derivative financial current assets and liabilities classified as Level 2 refer to instruments to hedge fluctuations in interest rates, foreign exchange rates, raw materials (base metal), freight, energy, emission rights and others. The total fair value is based on the price a dealer would pay or receive for the security or similar securities, adjusted for any terms specific to that asset or liability. Market inputs are obtained from well-established and recognized vendors of market data and the fair value is calculated using standard industry models based on significant observable market inputs such as foreign exchange rates, commodity prices, swap rates and interest rates. The Company manages the counter-party risk associated with its instruments by centralizing its commitments and by applying procedures which specify, for each type of transaction and underlying, risk limits and/or the characteristics of the counter-party. The Company does not generally grant to or require from its counter-parties guarantees for the risks incurred. Allowing for exceptions, the Company’s counterparties are part of its financial partners and the related market transactions are governed by framework agreements (mainly the International Swaps and Derivatives Association agreements which allow netting only in case of counterparty default). Accordingly, derivative assets and derivative liabilities are not offset.

| Interim Financial Statements |     | 45 |

Notes to the interim condensed consolidated financial statements for the six months ended June 30, 2025 (in millions of U.S. dollar, except share and per share data)

The portfolio associated with derivative financial instruments classified as Level 2 as of June 30, 2025 is as follows:

|                                                                               |     |       |                 |     |     | Assets     |     |       |                 |     |      | Liabilities |
|                                                                               |     |       | Notional Amount |     |     | Fair Value |     |       | Notional Amount |     |      | Fair Value  |
| Interest rate instruments                                                     |     |       |                 |     |     |            |     |       |                 |     |      |             |
| Other interest rate instruments                                               |     |    59 |                 |     |   1 |            |     |   213 |                 |     |    — |             |
| Total interest rate instruments                                               |     |       |                 |     |   1 |            |     |       |                 |     |    — |             |
| Foreign exchange rate instruments