UK-Liberia INVESTMENT FORUM 2012

14 Sept 2012Joseph Mathews, Head of Government & Community Relations, Mining

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DisclaimerForward-Looking Statements

This document 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, 2011 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.

Company Overview

Liberia railway

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2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

ArcelorMittal Anglo Xstrata Rio Tinto Vale Barrick Newmont

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Relentless focus on safety

* IISI-standard: Fr = Lost Time Injuries per 1.000.000 worked hours; based on own personnel and contractors

Safety remains the No1 priority for ArcelorMittal

ArcelorMittal Mining segment injury frequency rate* relative to peers

ArcelorMittal Group injury frequency rate* (Steel and Mining)

– Mining Segment Safety performance has also improved significantly

– Trending towards world class standards

– Group Health and safety performance has improved significantly since 2007

– LTIF rate has more than halved and group is on track for 2013 objectives

Long term safety targets trending towards world class

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2007 2008 2009 2010 2011 2013

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Diversified leader in steel & mining

4th Largest iron ore producer (2011 MT)

Largest steel producer (2010 crude steel mt)

Steel companies

Diversified steel business (by product and geography) with rapidly expanding mining operations

ArcelorMittal Steel business• World’s No1 steel producer (~ 6% of world crude steel

output)• 2011 EBITDA of US$10.1bn; only ~40% generated from

steel business in Europe and North American • Balanced portfolio of cost-competitive assets in both

developed and developing markets (No1: EU; N Am; Africa, LatAm, CIS)

• Broad range of high-quality finished and semi-finished carbon steel products; Outstanding distribution networks

• Global presence unrivalled knowledge base and benchmarking

ArcelorMittal Mining business• 2011 EBITDA of $3.1bn based on 28Mt iron ore and 4.9Mt

of coal shipped at market prices • Represents ~30% of Group EBITDA in 2011• 4th largest iron ore producer; • Low 2nd-quartile cash cost for iron ore • World-class iron ore reserve and resource • Leverage ArcelorMittal managements entrepreneurial spirit

which has built the No 1 steel company, • Operate in difficult political and geographical environments• Developing commercial network

Note: Iron ore production from latest public information

Geographically diversified mining assets

South Africa Iron Ore**

* Includes share of production** Includes purchases made under July 2010 interim agreement with Kumba (South Africa)

Mining business portfolio

Key assets and projects

USA Iron Ore Minorca 100%Hibbing 62%*

Mexico Iron OreLas Truchas & Volcan 100%;

Pena 50%*Liberia

Iron Ore 70%

Algeria Iron Ore

70%

Brazil Iron Ore100%

New projects / exploration

Existing mines

MauritaniaIron Ore

exploration license

Canada AMMC 100%

Bosnia Iron Ore

51%

USA Coal100%

South Africa Manganese

50%

Indian Iron Ore & Coal exploration

license

Ukraine Iron Ore

95%

Kazakhstan Coal

8 mines 100%

Kazakhstan Iron Ore

4 mines 100%

Russian Coal98.3%

Iron ore mine

Non ferrous mine

Coal mineCoal of Africa

15.98%

CanadaBaffinland 70%

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Segmental EBITDA (US$mn)

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100200300400500600700800900

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FCA FCE Long AACIS AMDS MiningQ4'10 Q1'11 Q2'11 Q3'11 Q4'11

Mining reported separately since Q1 2011

• All raw materials consumed from ArcelorMittal mines that could practically be sold outside the Group are now transferred internally at market prices

• Production from “captive” mines (limited by logistics or quality) continues to be transferred at cost-plus to our steel facilities

• Mining segment reported 2011 EBITDA of $3.1bn based on 28Mt iron ore and 4.9Mt of coal shipped at market prices (internally and externally)

• Mining segment represents ~30% of Group EBITDA in 2011

• Steel segments are now more comparable on a like-for-like basis driving performance improvement

New Mining segmentation promotes improved operating decisions and optimal capital allocation

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Flat North America17%

Long North America1%

Long Europe5%

Long South America

10%

AACIS13%

Mining 31%

Flat Europe15%

Flat South America5%

Distribution 3%

Segmental EBITDA 2011

Significant contribution to group EBITDA; more stable than steel EBITDA

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Industry leading growth pipeline

ArcelorMittal iron ore production growth plan (KT)

Marketable production

Cost-plus production

ArcelorMittal 2015 iron ore growth plans on track

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Cost plus tonnage Marketable tonnage

97% Growth

41% Growth

ArcelorMittal iron ore growth plan (MT)

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Brow nfield Greenfield 2015 plan

Canada /

Brazil

Liberia Phase

1 & 2

• Target 10% production growth in 2012 for iron ore

• Strategic contracts forecast of 16Mt by 2015

• Target iron ore ~100MT by 2015 (incl. strategic contracts)

Liberia Update

Liberia railway

Liberia Iron Ore Mines

• Ore deposits at Tokadeh, Gangra & Yuelliton

• Phase 1 DSO mining from Tokadeh & Gangra

• Concentrator planned in Phase 2 at Tokadeh

• Railway link from Tokadeh to Buchanan (250 Km)

• Railway workshop and Port at Buchanan

10ArcelorMittal Liberia

Commenced mining last year with first shipment in September 2011

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Mining 4 million tons of DSO annually.

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Shipped over 2.2 million tons to date

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Liberia development

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Liberia development on track with additional market opportunities under study

Liberia Strategic trials in high

growth market of South

East Asian market

Liberia greenfield planned expansion (Million MT)

Liberia commercial development approach Liberia development

Primary target market

Potential new market

Iron ore mineIron ore mine

• Phase 1: 4 mtpa DSO– Commercial ramp up H1 2012.

Trials at selected ArcelorMittal Steel European plants and a range of Chinese mills

– Build portfolio of long term contracts which can be transitioned into higher grade Phase 2 product supply from 2015

• Phase 2: 15 mtpa concentrate from 2015– Develop long term supply contracts

to sinter plants– Studying opportunities to extend

market reach

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This has been one of the most successful and unforgettable Olympic and Paralympic Games ever and for ArcelorMittal to have been a part of it is something that we are all extremely proud of – it has been a great symbol of what steel can achieve.

- Lakshmi N. Mittal

130,000 Visitors

3 Proposals

1 Queen

The ArcelorMittal Orbit becomes one of the stars of the London Olympic Games.