Investor Day 2013:Backing our franchises AACIS – Focussing on improvement

15 March 2013 Gonzalo Urquijo, GMB

DisclaimerForward-Looking Statements

This presentation may contain forward-looking information and statements about ArcelorMittal and its subsidiaries. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Forward-looking statements may be identified by the words “believe,” “expect,” “anticipate,”“target” or similar expressions. Although ArcelorMittal’s management believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of ArcelorMittal’s securities are cautioned that forward-looking information and statements are subject to numerous risks and uncertainties, many of which are difficult to predict and generally beyond the control of ArcelorMittal, that could cause actual results and developments to differ materially and adversely from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in the filings with the Luxembourg Stock Market Authority for the Financial Markets (Commission de Surveillance du Secteur Financier) and the United States Securities and Exchange Commission (the “SEC”) made or to be made by ArcelorMittal, including ArcelorMittal’s Annual Report on Form 20-F for the year ended December 31, 2012 filed with the SEC. ArcelorMittal undertakes no obligation to publicly update its forward-looking statements, whether as a result of new information, future events, or otherwise.

Non-GAAP Financial MeasuresThis presentation may contain supplemental financial measures that are or may be non-

GAAP financial measures. Definitions of such supplemental financial measures and a discussion of the most directly comparable IFRS financial measures can be found on ArcelorMittal's website at http://www.arcelormittal.com/corp/investors/presentations/.

1

Overview13:30 / 09.30 “Focussing on value creation” Lakshmi Mittal

14:00 / 10.00 “Balance sheet and capital allocation” Aditya Mittal14:30 / 10.30 Q&A

15:15 / 11:15 - Break for 15 mins -

15:30 / 11:30 “Creating value from our Mining franchise” Peter Kukielski

16:00 / 12:00 “Protecting and growing our Automotive franchise” Brian Aranha

16:30 / 12:30 - Break for 15 mins -

16:45 / 12:45 “AACIS – Focussing on improvement” Gonzalo Urquijo17:15 / 13:15 “Enhancing our competitive position” Lou Schorsch

17:45 / 13:45 - Close -

2

231

780

242

570

898

29

Non Steel

EBITDA 2012

Forex One time

items**

8

PCSVolEBITDA 2009

AACIS challenges

3

Focus is to improve competitivenessFocus is to improve competitiveness

* EBITDA/tonne figures for 2012 shown excluding gain on Paul Wurth divestment of $242 million ** Relates to gain on Paul Wurth investment

26

9986

76

2010 2011 2012*2009

AACIS Steel EBITDA*/tonne (US$/t)

• Continue improving safety performance

• Address operational instability issues

• Address cost issues in captive mines

• Improve productivity and energy utilization

• Improved supply to freight friendly markets

• Manpower optimization and Employee retention/development

EBITDA* bridge between 2009-2012 ($mn)

Costs have increased

significantly

11%

Energy and fuel

6%25%

19%

Manpower costs

Other fixed costs

Purchased raw material

19%Other costs

Captive raw material

19%

Breakdown of cost increase 2009-2012Inflation

Improvement in safety performanceAMSA 2010 2011 2012

LTIFR 1.57 1.24 0.58

Severity Rate 0.07 0.04 0.02

Absenteeism Rate 1.38 0.96 1.32

• Best results ever with 53% reduction in LTIFR • To maintain & improve current shop floor practices• Higher focus on contractor management

AMKR 2010 2011 2012

LTIFR 0.76 0.53 0.51

Severity Rate 0.06 0.04 0.04

Absenteeism Rate 5.27 4.53 4.08

AMT 2010 2011 2012

LTIFR 0.36 0.17 0.44

Severity Rate 0.02 0.02 0.03

Absenteeism Rate 4.27 3.53 3.22

• Performance deteriorated due to Sinter Plant Accident in 2012 and higher LTIs

• Target to achieve next level on total compliance with all global standards

• Higher focus on contractor management

AACIS 2010 2011 2012

LTIFR* 0.92 0.68 0.51

Severity Rate** 0.05 0.04 0.03

Absenteeism Rate*** 4.10 3.39 3.19

• 25% improvement in LTIFR vs last year• Continue focus on shop floor & plant audits • Target for FPS next level in all units • Focus on contractor management and training

• 2012 performance same level as 2011

• Target to achieve next level of FPS standard

• HIRA procedures to be further improved• Focus on reduction of Absenteeism rate

* (LTIFR) Lost time injury frequency defined as Lost time Injuries per 1.000.000 worked hours; based on own personnel and contractors** Severity rate defined as number of days lost for LTI per 1.000.000 worked hours***Absenteeism rate defined as total illness/leave lost time hours as a % of theoretical available work hours; FPS: Fatality prevention standards 4

Safety is the No.1 priority - AACIS has shown sustai ned improvement in safetySafety is the No.1 priority - AACIS has shown sustai ned improvement in safety

AACIS operational overview

• 6 production facilities in 3 business units:

• ArcelorMittal South Africa in South Africa (4 locations)

• ArcelorMittal Kriviy Rih in Ukraine

• ArcelorMittal Temirtau in Kazakhstan

• Segment produces flat and long products

+0.9

2012

14.3

2011

14.6

2010

14.9

2009

13.4

+1.1

2012

12.8

2011

12.5

2010

13.3

2009

11.8

+2.59.7

2010

10.8

2011

10.1

20122009

7.6

2010

-0.61.10.9

20112009

0.3

2012*

1.2

Revenue (US$ billions)

EBITDA (US$ billions)

52012 was impacted by declining raw material prices and competition in CIS2012 was impacted by declining raw material prices and competition in CIS

Crude steel production (million tonnes)

Steel shipments (million tonnes)

* EBITDA figures for 2012 shown excluding gain on Paul Wurth divestment of $242 million

6

CIS finished steel demand (million tonnes)*

CAGR

CIS net trade - exports (million tonnes)*

CIS market outlook

• GDP in the CIS region forecast to continue growing strongly through 2018 averaging 4.3% per annum

• CIS steel consumption peaked in mid 1980s at over 110 million tonnes before falling sharply after 1990-driven by a fall in vehicle manufacturing and industrial machinery

• Domestic finished steel consumption in the CIS region is expected to grow on average at a rate of 4.2% pa up to approximately 72 million tonnes in 2018

• Steel production in the region is expected to remain above demand levels until 2018 with oversupply being exported mainly to MENA, Europe and South-East Asia regions (40 million tonnes expected in 2018)

• Even though CIS profitability is expected to remain positive, margins can be challenged in the near future if international raw material prices erode and domestic costs, such as freight, labor and energy inflate further

7259

50

+3.4%

+4.2%

404349

201820132008

20132008 2018

CIS market outlook

* ArcelorMittal estimates

7

• Projected GDP growth in the Middle East and North Africa region, averaging 4.1% per annum, indicates a limited impact of the economic crisis on the regional economies

• Strong steel demand growth in the MENA region expected to add nearly 19 million tonnes of new steel demand through 2018. Although about 80% of this new demand is expected to be in the Middle East, North Africa has a large upside in the longer term due to its low steel intensity

• New capacity to be added in the region until 2018 is expected to only marginally reduce the requirement for imports – resulting in about 37 million tonnes of imports by 2018 compared to 48 million tonnes in 2008

Middle East & North Africa (MENA)market outlook

* ArcelorMittal estimates

MENA finished steel demand (million tonnes)*

MENA net trade – imports (million tonnes)*

9071

61

+4.9%

+3.1%

201820132008

CAGR

374348

201820132008

MENA market outlook

8

Sub-Sahara Africa finished steel demand(million tonnes)*

CAGR

Sub Sahara Africa market outlook

• Robust GDP growth in most of Sub-Sahara Africa, averaging more than 5% per annum, is expected to continue till 2018

• Finished steel demand in the region is expected to grow at average rate of 5.5% per annum and reach approximately 19 million tonnes in 2018

• Steel production in the region is expected to remain below demand levels with imports reaching 10 million tonnes in 2018

+3.3%

+5.5%

20182013

20132008 2018

Sub-Sahara Africa market outlook

* ArcelorMittal estimates

Sub-Sahara Africa net trade – imports(million tonnes)*

2008

ArcelorMittal South Africa (AMSA)

Overview• The largest steelmaker in South Africa producing

both flat and long products• Four production units located in Newcastle,

Vanderbijlpark, Saldanha and Vereeniging• Additional coke and chemical business in Pretoria

Main advantages• Iron ore available at contracted terms• World class manufacturing facilities• Core markets with growth potential (South Africa

and sub-saharan Africa)• Diversified product portfolio with good domestic

market share

Challenges• Maintain competitiveness against high inflation

and weak international raw material prices• Increasing energy prices, freight rates, labour and

tightening environmental legislation • Continue improved operational performance

Vanderbijlpark

Newcastle

9

AMSA industrial performance

10

Major achievements 2012

• Saldanha was one of the lowest cost producer in the group

• Improved management gains � better availability and quality performance of rolling mills in Vanderbijlpark (lower non prime ratio)

• Progressive increase of DRI in BF at Vanderbijlpark reducing coke rate

• Adapting footprint to align capacity with domestic and freight friendly markets

• EAF shutdown in Vanderbijlpark• Implementation of profit management process in all

AMSA sites• 60% dust emission reduction in Gauteng area in

last 5 years

5.1 5.5 5.3 4.9

-6%

2009 201220112010

ArcelorMittal South Africa crude steel production (million tonnes)

Ongoing strategic priorities:

� Operational stability � High capacity utilization through further footprint optimization � Deliver productivity and cost improvement� Capex primarily focused on upcoming blast furnace reline in Newcastle in 2014 and environmental

compliance projects

Adapted as per market condition

AMSA commercial performance

11

ArcelorMittal South Africa product range

7%

11%

10%6%

49%13%

CRC

Billets + rebars

Tin plate

HRC

Sections

Wire rods

HDG/EG+Organic coating

4%

27%

73%

Domestic Market

Export Market

ArcelorMittal South Africa markets

Performance 2012

• Recovery of domestic market share• Increased sales to Africa overland through

systematic market development (freight friendly)• Good customer service performance in domestic

and export markets

Ongoing strategic priorities:

� Further improvement in quality and customer service

� Defend domestic market share and grow in Africa overland

� Product development in line with market demand� Upcoming opportunities from infrastructure

projects

ArcelorMittal Kriviy Rih (AMKR)

Overview• Largest producer of long rolled products

including rebar and wire rods among the CIS countries

• 2012 production of 6.4 million tonnes

Main advantages• 100% self sufficiency in iron ore• Core markets with growth potential (Ukraine,

CIS, Russia, Iraq, Near East, Turkey)• Access close to European and CIS markets

through well developed rail lines and close proximity to the Black Sea ports

Challenges• Maintain competitiveness against high inflation

and weak international raw material prices• Intensified competition and new capacities• Increasing energy prices, labor cost and freight

rates• Continue improving operational performance

Blast Furnace 9

Blooming 1 – Soaking pits bay

12

AMKR industrial performance

13

Major achievements 2012

• Turnaround in operational performance:• 13% improvement in crude steel

production vs 2011• Record production level in last 5 years

• New billet caster to enhance product capability (designed capacity achieved)

• Improved management gain performance• Improvement in logistics management

6.1 5.7 6.45.0

+13%

2012201120102009

ArcelorMittal Kriviy Rih crude steel production (million tonnes)

Ongoing strategic priorities:

� Maintain operational stability with improved efficiencies� Footprint optimization whilst maintaining current production level� Rebuild coke oven battery to maintain self sufficiency level� Deployment of best practices regarding maintenance and World Class Manufacturing� Capex focused on upcoming blast furnace reline and ecology projects

Turnaround with new organization

AMKR commercial performance

14

ArcelorMittal Kriviy Rih product range

5%

25%

49%

22%

Wire Rod

Sections

Billets

Rebar

66%

20%

14%

Export Market

CIS Market

Domestic Market

ArcelorMittal Kriviy Rih markets

Performance 2012

• Maintained domestic market share• Strengthening position within other markets in

the CIS region• Good customer service performance through

improved order turnaround time• Improved supply to freight friendly markets• Expansion of customer base

Ongoing strategic priorities:

� Continue improving supply in core and strategic markets (freight friendly markets)

� Further improvement in quality and customer service

� Value creation through topline initiatives and product development

ArcelorMittal Temirtau (AMT)Overview• The largest steelmaker in Kazakhstan• Producer of flat and long products• 2012 crude steel production of 2.9 million tonnes

Main advantages• 100% self-sufficient in coal, 75% in iron ore and

60% in electricity• Low cost steel production• Core markets with growth potential (Kazakhstan,

Russia and other CIS)• Flexibility of producing flat and long products• Caspian sea port (Aktau): Access to regional

markets

Challenges• Maintain competitiveness against high inflation

and weak international raw material prices• Increasing freight rates and labor cost• Regain operational stability• Deploy best practices in maintenance

Blast Furnace 4

New Billet Caster

15

AMT industrial performance

16

Major achievements 2012

• BF2 major reline with best in class technology• Startup of new billet caster with improving

performance• Setting up of new oxygen plant - near completion• Breakthrough in maximum use of low cost, low Fe

iron ore• Successful repair of downstream facilities

2.9

3.63.33.3

2012201120102009

-19%

ArcelorMittal Temirtau crude steel production (million tonnes)

Ongoing strategic priorities:

� Recover operational stability� Deliver productivity and cost improvement� Deliver energy improvement targets (boiler performance, internal gas utilization)� Capex primarily focused on blast furnace reline, assets reliability and ecology compliance projects

Mainly due to Sinter plant accident, BF and BOF issues

AMT commercial performance

17

ArcelorMittal Temirtau product range

Coated Products 23%

Cold Rolled

2%

Others

13%

Billet and Rebar

22%

Hot Rolled40%

40%

Domestic Market

23%Other CIS Markets

37%

Export Market

ArcelorMittal Temirtau markets

Performance 2012

• Good acceptance of newly launched long products (offers more flexibility)

• Improved supply to freight friendly markets• Coated products size range expanded• Better customer service

Ongoing strategic priorities:

� Improve CIS market share with increased supply in freight friendly markets

� Increase in long market share� Continue improvement in quality and customer

service� Deliver against top line initiatives and product

development

Productivity and skill development

18

21.5 20.5 19.9 18.7

32.1 29.8 27.4 25.7

9.9 10.0 10.69.2

-7%

2012

53.7

2011

57.8

2010

60.3

2009

63.4

-16%ArcelorMittal AACIS FTE* (in thousands)

Human resource focus:

� Continue productivity improvements and enhancement of competitiveness through workforce optimization i.e. reducing and flexibilizing external labor

� Improvement of staff engagement in challenging employee retention market� Building partnership with trade unions� Skills building through graduate recruitment initiatives and tailored management training

* FTE: Full time equivalent** TCOE: Total cost of employment

TermirtauKriviy RihSouth Africa

Productivity, competitiveness and skill development initiatives in 2012

• Workforce optimization to improve productivity, in line with changed footprint

• Optimum level of contractors. Assure efficient supply contracts

• Maintain/reduce TCOE** with good labour relations dialogue

• Continue efforts on training and development• Development of functional skills through

tailored future leaders programs

Recap

19

• Safety as priority no 1

• Operational reliability and excellence through deployment of best operational practices and better maintenance program

• Potential challenge from raw material price decrease

• Productivity improvement and improved energy utilizatio n

• Maintain good labor relation dialogue

• Improved supply to freight friendly markets

• Value gain through topline initiatives, product development and better customer service

• Employee retention and development through training and graduate recruitment programs