Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 493

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 493
---
 given by the annual general meeting of

shareholders of June 8, 2021 and repurchased 31.8 million

shares for a total value of € 911 million (equivalent to 1000 ) at an

approximate average price per share of € 28.68 ($ 31.49 ).

On June 8, 2022, ArcelorMittal completed a second share

buyback program in the amount of 1,000 under the authorization

given by the annual general meeting of shareholders of May 4,

2022, bringing the total 2022 buybacks announced so far to

2,000 . ArcelorMittal repurchased 33.3 million shares for a total

value of € 943 million (equivalent to 1,000 ) at an approximate

average price per share of € 28.26 ($ 29.99 ).

On July 29, 2022, the Company announced a third share

buyback program of 60.4 million shares (approximately 1.4

billion based on share price as of July 26, 2022) to be

completed by the end of May 2023 (subject to market

conditions) under the authorization given by the annual general

meeting of shareholders of May 4, 2022. The Significant

Shareholder has decided not to participate in the program

consistent with the position announced on February 25, 2022.

On March 31, 2023, ArcelorMittal completed the share buyback

program. The total repurchase value was € 1,456 million ( 1,492 )

at an approximate average price per share of € 24.10 ($ 24.68 ).

On May 5, 2023, ArcelorMittal announced the commencement

of a new buyback program of up to 85million shares under the

authorization given by the annual general meeting of

shareholders of May 2, 2023, to be completed by May 2025.

The actual amount of shares that will be repurchased pursuant

to this new program will depend on the level of post-dividend

free cash flow ("FCF") (calculated as net cash provided by

operating activities less purchases of property, plant and

equipment and intangibles less dividends paid to non-controlling

shareholders) generated over the period (the Company’s

defined policy is to return a minimum of 50% of post-div