Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 17

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 17
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 with Petrobras to assess potential business models for low-carbon fuels, hydrogen and its products, renewable energy production and carbon capture and storage ("CCS"). This follows a joint study to develop a CCS hub in the state of Espirito Santo. • On April 22, 2024, ArcelorMittal announced that ArcelorMittal Calvert, wholly owned by ArcelorMittal, was planning for an advanced manufacturing facility in Calvert, Alabama that could deliver up to 150,000 tonnes of domestic production capacity of non-grain-oriented electrical steel ("NOES") annually, depending on the product mix. NOES plays a crucial role in the performance and efficiency of electric motors used to power battery electric vehicles, plug in hybrid electric vehicles and hybrid

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| Management report |

vehicles as well as other specialized commercial, industrial, and power generation applications. Given the nature of the US auto market (larger vehicles, full-size pickups, SUVs) there is rapidly growing demand for the most sophisticated NOES for which there is limited US domestic supply capabilities. Plans at ArcelorMittal Calvert include an annealing pickling line, cold-rolling mill, annealing coating line, packaging and slitter line, and ancillary equipment needed for operations. The planned i nvestment is expected to create up to 1,300 jobs during the construction phase and more than 200 permanent positions to support the plant’s ongoing operations. The NOES facility would be sited near ArcelorMittal’s existi ng joint venture with Nippon Steel Corporation AMNS Calvert. On February 6, 2025, ArcelorMittal confirmed that it will proceed with the construction of the facility with estimated n et capital expenditure of $0.9 billion (net of $0.3 billion of currently planned federal, state and local support ) . The plant is anticipated to commence production in the second half of 2027. • On May 10, 2024, ArcelorMittal announced that it had started the construction of an EAF for long products at its Gijón plant, which is expected to produce its first heat in the first quarter of 2026. This investment of €213 million will be the first major EAF project to be implemented within the Company’s decarbonization program in Europe and will constitute the first step towards low-carbon emissions steelmaking in Asturias. The new facility will have an annual production capacity of 1.1 million tonnes of semi-finished steel products