15 February 2021, 08:00 CET ArcelorMittal ('the Company') today announces a share buyback program (the 'Program') under the authorization given by the annual general meeting of shareholders held on June 13, 2020 (the 'AGM Authorization'). For the background to this Program, reference is made to the Company's press release dated 9 February relating to the Company selling 40 million Cleveland-Cliffs common shares for gross proceeds of US$652 million. The shares acquired under the Program are intended: 1) To meet ArcelorMittal's obligations under debt obligations exchangeable into equity securities, and/or; 2) To reduce its share capital. ArcelorMittal intends to repurchase shares for an aggregate maximum amount of US$650 million in accordance with the AGM Authorization and applicable market abuse regulations. The Program will commence today1.