Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 294

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 294
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 of ArcelorMittal for certain capital expenditures. Another commercial agreement in place between Aperam and ArcelorMittal Sourcing is effective since January 2020 for the sale of electrodes. Two specific IT service agreements are also in place with Aperam, for the use in Europe and Brazil of Asset Reliability Maintenance Program ("ARMP") and for the use of the global wide area network (WAN). Purchasing activities will continue to be provided to Aperam pursuant to existing contracts with ArcelorMittal entities that it has specifically elected to assume. In addition, since 2011, a services agreement has been concluded between ArcelorMittal Shared Service Center Europe Sp z.o.o. Sp.k. and Aperam for accounting services. In connection with the spin-off, management also renegotiated an existing Brazilian cost-sharing agreement between ArcelorMittal Brasil and Aperam Inox América do Sul S.A., Aperam Inox Serviços Brasil Ltda., Aperam Inox Tubos Brasil Ltda. and Aperam Bioenergia Ltda. pursuant to which, ArcelorMittal Brasil continued to perform purchasing for the benefit of these Aperam’s Brazilian subsidiaries, with costs being shared on the basis of cost allocation parameters agreed between the parties on a yearly basis. Share Repurchase Agreement The Significant Shareholder has entered into a share repurchase agreement with ArcelorMittal on February 12, 2021 (as amended from time to time), (the "Share Repurchase Agreement"), to sell each trading day on which ArcelorMittal has purchased shares under its 2021 share buyback programs (the "Programs") an equivalent number of shares, at the proportion of the then Significant Shareholder's stake in ArcelorMittal of issued and outstanding shares of ArcelorMittal, at the same price as the shares repurchased on the market. The effect of the Share Repurchase Agreement was to maintain the Significant Shareholder's voting rights in ArcelorMittal's issued share capital (net of treasury shares) at the then-current level, pursuant to the Programs. ArcelorMittal announced the completion of five consecutive Programs during 2021 under the authorization given by the annual general meetings of shareholders held on June 13, 2020 and June 8, 2021. To maintain Significant Shareholder's current level of voting rights as per the Share Repurchase Agreement, in the context of five consecutive Programs, in totality the Company repurchased, 62.