ArcelorMittal priced an offering of USD 1.2 billion aggregate principal amount of 6.550% notes due 2027 and USD 1.0 billion aggregate principal amount of 6.800% notes due 2032 (the Notes). The proceeds to ArcelorMittal (before expenses), amounting to approximately $2.2 billion, will be used for general corporate purposes. In addition, following the closing of the offering, commitments which remain available under a $2.2 billion bridge term facility agreement with a financial institution (the “Bridge Facility Agreement”) related to the financing of the intended acquisition of Companhia Siderúrgica do Pecém will, in accordance with the terms thereof, be cancelled in an amount equal to the amount by which the offering exceeds approximately $400 million, less certain expenses and tax costs that may, pursuant to the terms of the Bridge Facility Agreement, be deducted from the amount to be cancelled.

The facility is available for 12 months from signing with two extension options of 6 months each at the borrower's discretion. The offering is scheduled to close on November 29, 2022, subject to satisfaction of customary conditions.