Exhibit 99.1

ArcelorMittal establishes renewable energy JV with Casa dos Ventos in Brazil

JV to construct a 554MW wind power project

18 April 2023, 08:00 CET

ArcelorMittal (‘the Company’) today announces that its Brazilian entity, ArcelorMittal Brazil, will form a joint venture partnership (‘JV’) with Casa dos Ventos, one of Brazil’s largest developers and producers of renewable energy projects, to develop a 554 MW wind power project. ArcelorMittal Brazil will hold a 55 per cent stake in the JV, with Casa dos Ventos holding the remaining 45 per cent. The transaction was approved by the Brazilian antitrust authority, CADE, on 13 April and will be completed within the next 15 days.

The c. $0.8 billion project aims to secure and decarbonise a considerable proportion of ArcelorMittal Brazil’s future electricity needs. It is estimated it will provide 38 per cent of ArcelorMittal’s Brazil’s total electricity needs in 2030. The JV will be equity accounted and ArcelorMittal’s total equity investment will be c. $0.15 billion.

Commenting, Aditya Mittal, CEO, ArcelorMittal, said:

“The recent acquisition of CSP immediately enhances our presence in the high-growth Brazilian market and provides us with exciting future options. As we expand our presence and add value to our Brazilian franchise we are conscious of the responsibility we have to decarbonise our operations. By collaborating with a respected energy transition operator in Casa dos Ventos, we can take advantage of the favourable Brazilian climate for renewable energy generation and make faster progress towards our climate targets.

“As well as making climate sense, this project makes financial and operational sense. It reduces electricity costs and provides energy security to our Brazilian business and will deliver consistent, attractive long-term returns.”

Jefferson de Paula, President, ArcelorMittal Brazil, added:

“In addition to the recent acquisition of CSP, we have several downstream organic growth projects underway that expand out footprint and enhance our ability to produce higher added value products. These expansion plans will lead to a natural increase in our energy requirements. This project will help to prepare us for the future, ensuring we secure our long-term energy requirements in a responsible, sustainable and cost-effective manner.”

The Babilonia project will be located in the central region of Bahia, north-east Brazil. The site location has been selected due to several competitive advantages, including high-capacity forecast load factors (in excess of 50 per cent) and a short distance (23 km) to connect to the national electricity grid. There is also the potential to expand the capacity of the project by adding a further 100 MW of solar power. The project is currently at an environmental and regulatory permitting stage, with construction work anticipated to start later this year and operational commissioning in 2025. ArcelorMittal Brazil will enter a 20-year power purchase agreement with the JV for the supply of electricity.

The Babilonia project is the third strategic renewable energy partnership ArcelorMittal has established in the past year. In March 2022, the Company announced a partnership with the Greenko group in India to develop a ‘round the clock’ energy project with 975MW of solar and wind capacity (see https://corporate.arcelormittal.com/media/press-releases/arcelormittal-establishes-strategic-renewable-energy-partnership-with-greenko-group-in-india). The project will feed ArcelorMittal’s Indian steelmaking joint venture, AM/NS India, supplying over 20 per cent of its electricity requirements and reducing its annual carbon emissions by approximately 1.5 million tonnes a year. In Argentina, ArcelorMittal has developed a partnership with PCR for a 130MW solar and wind capacity project that supplies over 30 per cent of ArcelorMittal’s local electricity requirements.

More details on ArcelorMittal’s climate action ambitions, strategy, technologies and ongoing decarbonisation projects can be found at https://corporate.arcelormittal.com/climate-action.

ENDS

About ArcelorMittal

ArcelorMittal is the world's leading steel company, with a presence in 60 countries and primary steelmaking facilities in 16 countries. In 2022, ArcelorMittal had revenues of $79.8 billion and crude steel production of 59 million metric tonnes, while iron ore production reached 50.9 million metric tonnes.

Our purpose is to produce ever smarter steels that have a positive benefit for people and planet. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for electric vehicles and renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change. This is what we believe it takes to be the steel company of the future.

ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).

For more information about ArcelorMittal please visit: http://corporate.arcelormittal.com/

Exhibit 99.2

ArcelorMittal publishes 2022 Integrated Annual Review

26 April 2023, 14:30 CET

ArcelorMittal (‘the Company’) has today published its 2022 integrated annual review.

The review, which can be accessed here - annualreview2022.arcelormittal.com - underpins the Company’s commitment to transparent reporting and is a key pillar in our commitment to engage stakeholders and communicate our financial and non-financial performance. It provides an overview of the Company’s performance in 2022, outlines progress against its strategic priorities, and details its short- and long-term goals and current action plans.

We strive to reflect the guiding principles of the most respected and influential organisations and frameworks. In our 2022 review, we have started to align our reporting with the concepts and principles set out by the Corporate Sustainability Reporting Directive (CSRD). We have also considered the recommendations and principles of the Task Force on Climate-related Financial Disclosures (TCFD) in preparing our integrated reporting. Our aim is to show our stakeholders how we are organised and how our management systems are set up to meet the requirements (governance), what improvements we are making to respond to changes (strategic actions), what the challenges and opportunities are to deliver the strategy (risk management) and measurable progress we have been making to achieve the strategic objectives (performance). The result, we believe, is a more structured, direct and balanced review.

The review, entitled ‘Driving forward’ is structured in seven main chapters:

Key new disclosures include:

Commenting, Aditya Mittal, CEO, ArcelorMittal, said:

“It is increasingly difficult to characterize a year in one or two sentences, reflecting the dynamic, complex world we live in. This was even more marked in 2022 where at ArcelorMittal we celebrated several significant strategic milestones while simultaneously having to manage a major asset through the realities of war.

“ArcelorMittal’s purpose is ‘Smarter steels for people and planet’. The events in Ukraine certainly focused our attention on our people. We did whatever we could to support them and the humanity and generosity from our people across the group came to the fore. 

“Alongside challenges of this magnitude, it was also a year of good progress, with important milestones achieved and the financial strength of the company clearly apparent. We are confident that steel is not only going to remain in high demand, but that demand is going to grow. That represents an exciting opportunity – but we must understand what our stakeholders want from the materials of the future. More yes, but not more of the same. Steel yes, but low-carbon and ultimately near-zero steel.

“It is undoubtedly a major transition. But one in which we are confident steel, and ArcelorMittal, will have the opportunity to thrive. We have a vision to lead the decarbonisation of the steel industry and have worked hard to give our stakeholders greater insight into all aspects of our decarbonization journey. It is a matter of fact that some regions will move faster than others. But we have now commissioned our first carbon capture and utilization plant, broken ground on a new DRI-EAF investment that will replace existing blast furnaces – and announced several acquisitions in the areas of low-carbon metallics and renewable energy. I hope in 2023 we will see further policy evolution that helps accelerate the road to near-zero steelmaking.

“We are very clear that we cannot consider ourselves the world’s leading steel company if we are not also the safest. We know where we stand today, and we know we have a lot of work to do. We are implementing a dual-pronged strategy focused on the two fundamental safety pillars of culture and risk. Every asset has been assessed and is developing best-in-class plans to deliver improvement along the Bradley curve. I am quietly optimistic we will be able to demonstrate meaningful progress this year.

“Ultimately it is our people that enable us to succeed. It is therefore vital we continue to attract the brightest, smartest talent to our company. In pursuit of this, last year we launched a new people strategy based on leadership that inspires excellence, talent to thrive for the future, and diversity and inclusion that engages everyone. Steel has for decades helped improve people’s lives through the products it helps make. Increasingly, given its natural circular properties and its potential to ultimately be produced with near-zero carbon emissions, it has a great opportunity to also contribute to a better, healthier, planet. That is what drives us every day.” 

Lakshmi Mittal, Executive Chairman, ArcelorMittal, added:

“This report provides an overview of the Company’s performance, not just financially, but against our broader strategic priorities and our sustainability goals. In this respect it takes account of our focus on safety, our actions to reduce carbon emissions, our people values, and our concerted efforts to working sustainably within the natural environment, and with our local communities and society at large.

“Against an increasingly challenging global backdrop, the Company delivered a strong performance in 2022, generating Ebitda of $14.2 billion and continuing to invest strategically and responsibly to both capture opportunities and address the challenges facing us. We ended the year with a record low net debt of $2.2 billion (versus $4.0 billion at the end of 2021). Our business is stronger and more resilient than at any time during my five decades in the industry.

“As we transition to a more sustainable, circular world, steel has a central role to play in delivering low-carbon, long-lasting and ultimately re-usable infrastructure for the new economy. To achieve this, we must understand what our stakeholders want from the materials of the future, and how we can minimise and mitigate their impacts. This report demonstrates that we take those challenges seriously and are planning for a sustainable future”.

The company has also today published its 2022 Fact Book that is available here - https://corporate.arcelormittal.com/media/pfwpkrrw/arcelor-mittal-fact-book-2022.pdf

ENDS

About ArcelorMittal

ArcelorMittal is the world's leading steel company, with a presence in 60 countries and primary steelmaking facilities in 16 countries. In 2022, ArcelorMittal had revenues of $79.8 billion and crude steel production of 59 million metric tonnes, while iron ore production reached 50.9 million metric tonnes.

Our purpose is to produce ever smarter steels that have a positive benefit for people and planet. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for electric vehicles and renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change. This is what we believe it takes to be the steel company of the future.

ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).

For more information about ArcelorMittal please visit: http://corporate.arcelormittal.com/