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

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 10
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 20. Share price performance During 2024, the price of ArcelorMittal shares decreased by 17.9 % in dollar terms compared to 2023 year on year; the c hart below shows a comparison between the performance of ArcelorMittal’s shares and the Eurostoxx600 Basic Resource (SXPP). Capital return policy On April 30, 2024 , at the annual general meeting of shareholders ("AGM"), the shareholders approved the dividend of $0.50 per share proposed by the Board of Directors. The dividend amounted to $ 393 million and payment included two installments; the first installment of $200 million was paid on June 12, 2024 and the second installment of $193 million was paid on December 4, 2024. In accordance with its capital return policy, the Company expects to pay a base annual dividend (to be progressively increased over time) . In addition, a minimum of 50% of the amount of free cash flow (calculated as net cash provided by operating activities less purchases of property, plant and equipment and intangibles ("capital expenditures") less dividends paid to non-controlling shareholders) remaining after paying the base annual dividend is allocated to a share buyback program. On May 5, 2023, the Company announced a share buyback program pursuant to the authorization of the AGM held on May 2, 2023, which remains outstanding as of the date of this annual report. I ncluding the $9.8 billion of shares repurchased under previous and current share buyback programs from 2020 to 2023 and $1 .3 billion from shares repurchased during 2024 , the Company returned in total $13.7 billion to shareholders under the above-mentioned capital return policy . Also, see "Operating and financial review—Earnings distribution". Additional buybacks under the current share buyback program will be allocated to the 2025 capital return. At December 31, 2024, ArcelorMittal had repurchased 78 million shares representing 92% of the current share buyback program for a total value of

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| Management report |

$2.0 billion. For further information on buybacks, see "Purchases of equity securities by the issuer and affiliated purchasers". In February 2025, the Board of Directors recommended an increase of the base annual dividend to $0.55/share (from $0.50/share paid in 2024) to be paid in two equal