ArcelorMittal Partial Sell-down of Vallourec Shareholding

ArcelorMittal has successfully priced a secondary offering of approximately 10.0% of its shares in Vallourec SA, representing about 23.9 million shares, at EUR 24.00 per share. This transaction, conducted via an accelerated bookbuilding process, raised gross proceeds of approximately US$667 million. The proceeds will be allocated to ArcelorMittal's ongoing share buyback program, reinforcing the company's commitment to disciplined capital allocation and returning value to shareholders. Following the sale, ArcelorMittal will retain approximately 17.3% of Vallourec's share capital and will maintain one seat on Vallourec's Board of Directors. The settlement is expected around May 21, 2026, with ArcelorMittal agreeing to a 90-day lock-up period on its remaining stake. This move is part of ArcelorMittal's strategy to convert strong investment outcomes into tangible shareholder benefits.