ARCELORMITTAL SOUTH AFRICA LIMITED - ACL - 2022 Grant in terms of Long Term Incentive Plan

ACL - 2022 Grant in terms of Long Term Incentive Plan

ARCELORMITTAL SOUTH AFRICA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1989/002164/06)
Share code: ACL ISIN: ZAE000134961
(“ArcelorMittal South Africa” or “the Company")

2022 GRANT IN TERMS OF LONG-TERM INCENTIVE PLAN

Shareholders are hereby notified of the 2022 conditional award of shares (grant) in terms of the company’s
Long-Term Incentive Plan (“LTIP”), pursuant to paragraph 3.92 read with paragraphs 3.63 to 3.66 of the
JSE Limited (“JSE”) Listings Requirements.

The LTIP has been established in line with the requirements of the JSE and was created as a mechanism
to reward and retain management effectively and link remuneration to performance of the company. It
is therefore linked to performance of the company and is 67% performance based in respect of the CEO,
50% performance based in respect of senior executives and 32% performance based for management.

It has a vesting period of 3 years after the date of the conditional award of shares (grant). The grants have
been approved and issued by the board and accordingly, clearance to deal provided.

GRANT TO GENERAL LTIP PARTICIPANTS

Pursuant to 83 employees (LTIP participants) accepting the 2022 grant and participating in terms of the
LTIP Rules, the following information is disclosed:

Company:                                  ArcelorMittal South Africa
Class of securities:                      Ordinary shares
Date of acceptance of allocation:         16 August 2022
Number of LTIP shares:                    5 186 746
Grant price:                              R6.15
Total value of transaction:               R31 911 353
Nature of transaction:                    Off market acceptance of LTIP grant in terms of Scheme Rules
Nature of interest:                       Direct Beneficial

Vanderbijlpark Works
16 August 2022

For further information please contact:
Mr Tami Didiza: Group Manager: Stakeholder Engagement and Communications
Tel: (016) 889 4523

Company Secretary: FluidRock Co Sec (Pty) Ltd

Sponsor to ArcelorMittal South Africa Limited
Absa Bank Limited (acting through its Corporate and Investment Banking division)

Date: 16-08-2022 04:00:00
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