Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 469

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 469
---
 1 ) and began adjudicating the last case (in the amount of 61 ). In December 2024, the State Court ruled in favor of ArcelorMittal Brasil in the last case, which, together with the prior favorable decisions, reduces the contingency by 88% . The Tax Authority can still appeal to the Superior Court of Justice. On May 17, 2016, ArcelorMittal Brasil received a tax assessment from the state of Santa Catarina in the amount of 107 alleging that it had used improper methods to calculate the amount of its ICMS credits. In the Administrative instance, the case was unfavorably closed in November 2020, and ArcelorMittal Brasil filed a lawsuit to challenge the assessment. The case is pending at the judicial instance currently. In January 2023, ArcelorMittal Brasil received a tax assessment from the Federal Revenue Service in an amount of 132 in which the tax authority rejected the offsetting of PIS/COFINS credits used by the Company in 2018. The dispute relates to various types of credits such as credits recognized in Court processes (exclusion of ICMS from the PIS and COFINS calculation base, PIS/COFINS credits in the Manaus Free Trade Zone), expenses related to the acquisition of scrap (including freight), expenses related to port handling, and expenses for freight for finished products. ArcelorMittal Brasil filed an administrative defense in February 2023. In November 2023,ArcelorMittal Brasil was notified of the unfavorable decision and filed an appeal in December 2023. In August 2024, the second instance of the Administrative Court ruled in favor of the Company, determining the return of the case to the first instance for a new trial.

294

| Consolidated financial statements                          |
| (millions of U.S. dollar, except share and per share data) |

In January 2023, ArcelorMittal Brasil received a tax assessment in an amount of 13 for a 50% fine for alleged non-payment of the monthly estimate of CIT related to fiscal year 2018. The Federal Revenue accuses the Company of undue offsetting of CIT credits paid in Venezuela from 2010 to 2014 when calculating the monthly IRC estimate for 2018. In February 2023, ArcelorMittal Brasil filed its defense. In September 2023, the first instance of the Administrative Court ruled against the Company and ArcelorMittal Brasil filed an appeal.