Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 256

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 256
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uneration annually for the Board of Directors' consideration. Such proposals include the following components: • fixed annual salary; • short-term incentives (i.e., performance-based bonus); and • long-term incentives (i.e., RSUs and/or PSUs).

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| Management report |

The Company does not have any deferred compensation plans for senior management, including the Executive Chairman and CEO. The following table provides an overview of the remuneration policy applied by the ARCG:

| Remuneration componentand link to strategy                                                                                 | Operational and performance framework                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Opportunity                                                                                                                                                                                                 |
| Fixed annual salaryCompetitive base salary toattract and retain high-quality and experiencedsenior executives              | * Base salary levels are reviewed annually with effect from April 1(except promotion) compared to the market to ensure that ArcelorMittalremains competitive with market median base pay levels* Reviews are based on market information obtained but not led bybenchmarking to comparable roles, changes in responsibility andgeneral economic conditions                                                                                                                                                                                                                                                                                                                                                                               | The ARCG does not set a maximum salary,instead when determining any salaryincreases it takes into account a number ofreference points including salary increasesacross the Company                          |
| BenefitsCompetitive level to ensurecoverage of the executives                                                              | * May include costs of health insurance, death and disability insurances,company car, tax return preparation, etc.* Relocation benefits may be provided where a change of location ismade at Company’s request                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | The cost to the Company of providing benefitscan change from year to year. The level ofbenefit provided is intended to remaincompetitive                                                                    |
| PensionCompetitive level of post-employment benefit toattract and retain executives                                        | * Local benchmark of pension contributions for comparable roles                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                                                                                                                                             |
| Short term incentives (STI)Motivate the seniorexecutives to achievestretch performance onstrategic priorities              | * Scorecard is set at the commencement of each financial year* Measures and relative weights are chosen by the ARCG Committee todrive overall performance for the coming year* STI calculations for each executive reflect the performance ofArcelorMittal and /or the performance of the relevant business units, theachievement of specific objectives of the department and the individualexecutive’s overall performance* No STI is paid for a business performance below threshold 80% foreach criteria; 100% STI payout for business performance achieved at100% for each criteria; 150% STI payout