Conclusion of contract manufacturing agreement between Arcelormittal SA and highveld structural mill Proprietary ArcelorMittal South Africa Limited (Incorporated in the Republic of South Africa) (Registration Number 1989/002164/06) Share Code: ACL ISIN: ZAE000134961 (“ArcelorMittal South Africa”) CONCLUSION OF CONTRACT MANUFACTURING AGREEMENT BETWEEN ARCELORMITTAL SOUTH AFRICA AND HIGHVELD STRUCTURAL MILL PROPRIETARY LIMITED (“HSM”) AND EVRAZ HIGHVELD STEEL & VANADIUM LIMITED (IN BUSINESS RESCUE) (“Highveld”) Shareholders have been informed previously that ArcelorMittal South Africa was investigating the possibility of supplying blooms and slabs to Highveld for processing into heavy structural steel. We are pleased to advise that a contract manufacturing agreement (“Agreement”), which is still subject to certain conditions precedent, has now been concluded between ArcelorMittal South Africa, Highveld and HSM (a subsidiary of Highveld) in terms of which ArcelorMittal South Africa will supply blooms and slabs to HSM for processing into heavy structural steel. It is also dependent on the implementation of duties on the products to be manufactured in the heavy section mill, and the application that has been submitted to the International Trade Administration Commission (ITAC) in this regard will need to be finalised. This will result in the re-opening of the Highveld heavy section mill by the Business Rescue Practitioner, thus making available the supply of heavy structural products into the South African market. The re-opening of the heavy section mill is a positive development and will result in the added benefit of creating further jobs. The Agreement will operate for an initial period of two years with an option to extend for a further period of one year. ArcelorMittal South Africa also has an option to purchase the business of HSM and the land or the shares in HSM, subject to certain further regulatory and governance approvals that may be required. The detail regarding implementation is being finalised but it is envisaged that the heavy sections mill will begin operations in 2017. This important milestone was made possible with the support of various stakeholders, for which support we are all grateful. 22 December 2016 Vanderbijlpark Works Sponsor to ArcelorMittal South Africa Limited J.P. Morgan Equities South Africa Pty Ltd For further information please contact: Mr Themba Sepotokele Manager: Corporate Communications, Corporate Affairs Tel: (016) 889 2425 (alternatively Tracey Peterson on 083 408 7173) Date: 22/12/2016 11:57:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.