Transforming tomorrow: ArcelorMittal’s approach to Socially Responsible Investment 25 th March 2010 Spanish EU Presidency CSR Conference

1 Agenda ArcelorMittal - an overview Investor Relations and SRI Corporate responsibility strategy Key Initiatives; Outcomes and Results Conclusion and Next Steps

2 ArcelorMittal – an overview

Industrial and commercial network focus on market sustainability and growth opportunities 3 No 1 in North America No 1 in South America No 1 in Western Europe No 1 in Eastern Europe and CIS No 1 in Africa Leading position in the most attractive markets Market position and market share estimates by region* *Source ArcelorMittal estimates based on IISI crude steel production ArcelorMittal Other A global steel production of 71.1 million tonnes (2009)

* Share of production ** Strategic contract at cost plus, formula based captive supply contract and lease *** Under development **** Includes 2008 acquisitions annualised Geographically diversified for reduced risk and close to steel plants to maximise synergies A unique mining portfolio Mexico Iron Ore* USA Iron Ore* South Africa Iron Ore** Liberia Iron Ore *** Algeria Iron Ore* Bosnia Iron Ore Ukraine Iron Ore Kazakhstan Iron Ore USA Iron Ore** Canada Iron Ore Brazil Iron Ore** Senegal Iron Ore *** USA Iron Ore Mauritania Iron Ore *** MPP Brazil*** (2008) London Brazil (2008) India Iron Ore Resources 65 Mt Key assets and projects in 2009 Macarthur Coal*** shareholding 19.9% South Africa Coal (Coal of Africa)* South Africa Coal (Tshikondeni)* India: Steam coal blocks Jarkhand Russia Coal Mines (2008) Kazakhstan Coal Mines USA Coal (2008) USA Coal

5 Main markets Automotive –Worldwide no.1 supplier –Global industrial presence via 42 coating lines in Europe, North America, South America, Africa Construction –Worldwide no.1 steel supplier –44% of ArcelorMittal shipments to construction are added value products White Goods –Rapidly growing market segment Packaging –Concepts are continually developed to enable differentiation as well as sustainable solutions Renewable Energy –Produce special steels for wind turbines and solar panels The market leader in a number of steel segments

6 ArcelorMittal 2009 key figures An integrated leader of the Metals and Mining sector (1.678) Sales (US$ billion) EBIDTA (US$ billion) Shipments (million tonnes) Operating income (US$ billion) Steel production (million tonnes) World steel production (%) Geographical breakdown of employees Global presence Industrial presence (upstream and downstream) in over 20 countries Operations in more than 60 countries (including sales offices)

7 Growth Product Cost Sustainable Development Facing the new challenges of the steel industry Systematically challenging investment projects Investing in value added and downstream products Realising operational excellence and global sourcing Implementing ambitious CR strategies Developing capacity to ensure long-term growth without creating over-capacity Responding to customer demands for improved services, quality and innovations Facing constant cost pressure in particular from raw materials and energy Driving a Group-wide Corporate Responsibility agenda directly linked to core business & measures to combat climate change. ArcelorMittal ’ s strategy to answer the industry ’ s new challenges

8 Our philosophy, our values Sustainability We are guiding the evolution of steel to secure the best future for the industry and for generations to come. Quality We look beyond today to envision the steel of tomorrow. Leadership We are visionary thinkers, creating opportunities every day. Our goal is to provide the leadership that will transform tomorrow’s steel industry. We have a clear vision of the future, underpinned by a consistent set of values: Transforming tomorrow to become the most admired company

9 Investor Relations and SRI

10 Objective of Investor Relations  By implementing high standards of financial information disclosure and providing clear, regular, transparent and even-handed information to all its shareholders, ArcelorMittal aims to be the first choice for investors in the sector  ArcelorMittal has an active and broad communications policy: roadshows conference calls, plant visits, one-on-one meetings, and a website featuring management comments on quarterly, half-year and full-year results  Meeting the growing Socially Responsible Investment (SRI) / sustainable investment community follows the same model ArcelorMittal aims to be the first choice for investors in the sector

11 Growth of SRI  Origins of religiously-motivated funds and trade union pension funds avoiding sin stocks (e.g. weapons, tobacco) in the 1960s to divestment of companies operating in South Africa (1970s – 1990s) to emergence of specific green, ethical and sustainability funds  European SRI Market valued at €2.7 trillion at end of 2007* (17.5% of asset management industry in Europe)  Investment strategies include:  Negative screening: excluding securities based on environmental and/or social criteria  Shareholder activism and engagement: positively influencing corporate behaviour through management meetings and proxy voting  Sustainability funds: identifying companies that will bring returns from e.g. low carbon economy  Increasingly mainstream investors are asking “CSR” questions either directly or indirectly From ethical investment to a strategy to maximising financial return from sustainable companies * European Sustainable Investment Forum (Eurosif)

12 Managing SRI at ArcelorMittal

13 Managing SRI at ArcelorMittal  Various approaches and shareholders  Ethical investors / green funds  Rating agencies  Sustainability indices e.g. FTSE4Good  ArcelorMittal has reviewed all rating agencies, leading teams (buy-side and sell-side) and its own shareholder capital related to SRI:  To prioritise key rating agencies and top shareholders  Incorporate and evaluate SRI questionnaires and issue identification into our own CR management and data collection processes Prioritising SRI community for effective management

14 Key initiatives; Outcomes and Results

15 Formalising feedback Identifying priority and most relevant issues to ArcelorMittal

16 Engagement: A successful outcome Source: UN Principles for Responsible Investment Annual Report 2008

Feedback into our publications Fostering engagement through public reporting Integrating comments and topics into our CR Report and other relevant documents and publications  Quarterly earnings release now contains safety statistics and latest CR initiatives

18 Conclusion and Next Steps

19 Effective SRI management  SRI should follow similar model to all other investor relations  Prioritising analysts and agencies is crucial to effective management  SRI are an individual stakeholder group that can be utilised for more than just improved ratings  Formalising engagement tests our CR strategy, aids issue identification and improves our own disclosure  Next steps for ArcelorMittal to repeat this exercise with a new theme: managing CR through, and emerging from the economic crisis Transforming tomorrow

20 Q&A