Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 440

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 440
---
 particular foreign

currency rates, remain constant.

|                |            December 31, 2024 |     |                                             |
|:---------------|-----------------------------:|:----|--------------------------------------------:|
|                | Floating portion ofnet debt1 |     | Interest Rate Swaps/Forward Rate Agreements |
| 100bp increase |                           39 |     |                                           1 |
| 100bp decrease |                          -39 |     |                                          -1 |

|                |            December 31, 2023 |     |                                            |
|:---------------|-----------------------------:|:----|-------------------------------------------:|
|                | Floating portion ofnet debt1 |     | Interest Rate Swaps/ForwardRate Agreements |
| 100bp increase |                           53 |     |                                          1 |
| 100bp decrease |                          -53 |     |                                         -1 |

1. See note 6.1.4 for a description of net debt (including fixed and floating

portion).

Base metals, energy, freight, emissions rights

The following tables detail the Company’s sensitivity to a 10%

increase and decrease in the price of the relevant base metals,

energy, freight and emissions rights. The sensitivity analysis

includes only outstanding, un-matured derivative instruments

either held for trading at fair value through the consolidated

statements of operations or designated in hedge accounting

relationships.

|                 | December 31, 2024 |     |                                        |
|:----------------|------------------:|:----|---------------------------------------:|
|                 |     Income (loss) |     | Other Equity Cash FlowHedging Reserves |
| '+10%in prices  |                   |     |                                        |
| Base Metals     |                 3 |     |                                     12 |
| Iron Ore        |                 — |     |                                     10 |
| Freight         |                 — |     |                                      3 |
| Emission rights |                 — |     |                                      — |
| Energy          |                -2 |     |                                     23 |
| '-10%in prices  |                   |     |                                        |
| Base Metals     |                -3 |     |                                    -12 |
| Iron Ore        |                 — |     |                                    -10 |
| Freight         |                 — |     |                                     -3 |
| Emission rights |                 — |     |                                      — |
| Energy          |                 2 |     |                                    -23 |

|                 | December 31, 2023 |     |