On January 1, 2013, in accordance with IFRS as issued by the International Accounting Standards Board (“IASB”), ArcelorMittal mandatorily adopted IFRS 10 (“Consolidated Financial Statements”), IFRS 11 (“Joint Arrangements”), IFRS 12 (“Disclosure of Interests in Other Entities”), IFRS 13 (“Fair Value Measurement”), the revision of IAS 19 (“Employee Benefits”) and IFRIC 20 (“Stripping Costs in the Production Phase of a Surface Mine”). 2012 information has been adjusted retrospectively for the adoption of these new standards and interpretations except for IFRS 13 which is applied only prospectively.

Highlights:

• Health and safety performance improved in 1Q 2013 with a LTIF rate of 0.9x as compared to 1.1x at 4Q 2012
• EBITDA of $1.6 billion in 1Q 2013 as compared to $1.6 billion in 4Q 2012 (which included $0.5 billion of gains from asset disposal and CO2 credit sales)
• Steel shipments of 20.9 Mt, an increase of 4.7% as compared to 4Q 2012
• 13.1 Mt own iron ore production; 7.3 Mt shipped and reported at market prices vs. 6.8 Mt in 1Q 2012
• Net debt decreased by $3.8 billion during 1Q 2013 to $18.0 billion as of March 31, 2013 due largely to proceeds from combined offering ($4 billion) and proceeds from the first tranche of AMMC 15% stake sale ($0.8 billion), partially offset by working capital investment ($0.5 billion)
• Liquidity improved to $18 billion from $14.5 billion at end 4Q 2012; average debt maturity of 6.0 years
• $0.2 billion New Management Gains achieved during 1Q 2013, from implementation of the new plan to achieve $3 billion of improvement by the end of 2015