March2014

PAGE 2

2013 results highlights• Our health and safety performance improved in 2013 with an annual lost time injury

frequency rate of 0.8 compared with 1.0 in 2012 • 2013 Ebitda was US$6.9bn, an underlying improvement of 10.7% year-on-year • Fourth quarter Ebitda was US$1.9bn • Net loss in 2013, at US$2.5bn compared to net loss of US$3.4bn in 2012: a decrease of

US$0.9bn. • Net debt at the end of 2013 was US$16.1bn, a decrease of US$5.7bn during the year • Steel shipments of 84.3 million tonnes in 2013 (up 0.6% year on year); fourth quarter steel

shipments were 20.9 million tonnes, up 4.4% year-on-year • Iron ore shipments of 59.7 million tonnes (up 9.6% year on year), of which 35.1 million tonnes

were shipped at market prices (a rise of 22% year-on-year) • US$1.1 billion in annualized management gains achieved in 2013, in line with plan to achieve

US$3bn of cost improvements by the end of 2015

ArcelorMittal announces full year results for 2013 In his letter to all employees, sent on 7 February 2014 when our company announced

its full year results for 2013, Mr Mittal explained the company’s top five priorities forthe year ahead.

Dear colleague, I know we are already in the second month of the year, but I would nevertheless like to use this

opportunity to wish each of you and your families a happy, healthy and safe 2014. 2013 was another tough year for the economy, the steel industry and ArcelorMittal. But we

worked hard and continued to make progress and strengthen the company. We improved ourhealth and safety performance, reduced our net debt, further optimised our footprint andimproved our operating and cost performance. This is all visible in our full year and fourth quarterresults for 2013, which we have announced today.

Turning to our outlook for 2014, today’s results show that during the final months of the year,we started to see an improvement in a number of key indicators relevant to the regions in whichwe operate. The ArcelorMittal weighted global PMI has risen to its highest level since the first halfof 2011, leading us to feel cautiously optimistic as we start 2014.

Although the external environment remains challenging, the recovery will bring opportunitiesthat we should be ready to capture.

To support our ability to do this, in December 2013 we introduced a new organisationalstructure for the company which is leaner; reduces bureaucracy; improves accountability andempowerment; ensures quicker decision making; and encourages flat, long and DistributionSolutions to work together to improve results within the regions. As we start business in 2014,these organisational changes will become embedded in the company and I hope to see the effectof the new structure in the way we operate internally and externally.

It is now up to us to identify and usethe opportunities that arise from animprovement in the economy. We havealready started to do this with anincrease in growth capex. In recentyears our growth capex has beeninvested largely in mining projects,notably Liberia and ArcelorMittalMining Canada. Now we are also ina position to commit around US$1.3bnof strategic capital to attractive steelbusinesses.

The most important example of thisis our acquisition, together with NipponSteel & Sumitomo Metal Corporation,of ThyssenKrupp’s state-of-the-artsteel finishing facility in Calvert,Alabama. This exciting deal, which lastweek received regulatory clearancefrom the US authorities, will allow us tomeet rising demand for automotivesteels in the southern US. It is alsoindicative of our outlook for the steelindustry in 2014.

In addition to the Calvert acquisition,we recently announced the re-start ofsome steel growth projects that hadbeen on hold, including Monlevade andJuiz de Fora in Brazil.

We also have some major steelinvestments reaching their conclusionthis year. Last month, I travelled toSaudi Arabia to visit our new pipes andtube plant in Jubail. Our automotivejoint venture in China – VAMA - alsocomes on stream this year. I know theVAMA team is working extremely hardto ensure this groundbreaking projectis a success and I am confident it willgive us an important position in thefast-growing automotive market.

We have many strong growth stories from our automotive business, but I cannot stress enoughhow hard we must work to defend our market share against rival materials such as aluminium.Many of you will have read that Ford opted to use 100% aluminium in its popular F-150 truck inthe USA. This news brings a new challenge for the steel industry, and we must respond in order toensure that we meet the fundamental aim of keeping steel in cars.

I would like to conclude by mentioning ArcelorMittal’s five priorities for the year. These prioritiesare the results of some excellent discussions in recent months, when the GMB and managementcommittee have been tasked with thinking about the challenges, opportunities and direction forthe year.

• First, health and safety remains our number one priority: while we continue to improve the losttime injury frequency rate, there are still too many fatalities – 23 in 2013 compared with 30 in2012. We must persist on our journey to zero: when it comes to fatalities, zero is the onlyacceptable number. On lost time injuries, we have a target of 0.75 for 2014 which, if we achieveit, will represent another major step forward.

• Second, executing our business plans to improve profitability. We have a lot of good ideas andinitiatives in the company but in some areas we have lacked effective execution on areas such astop line growth, productivity, reliability, cost optimisation and project ramp-up. We have toimprove in this regard.

• Third, focus on the competition: over the past year we have focussed more on ourperformance versus the competition and have made good progress in closing the competitive gap.We should keep up this focus; everyone can beat the competition regardless of the business unitor segment in which you operate.

• Fourth, employee engagement: I was pleased that the overall response rate of the recentclimate survey was 75 per cent, the highest rate recorded to date. More than 22,300 peopleparticipated in the survey. Although the overall company rating was positive and has improvedcompared with 2011, there are some areas that require attention and action plans to addressthese areas for improvement have been launched; these will be communicated across theorganisation so you can see we are taking your feedback seriously.

• Finally, external stakeholder engagement. We need the support and understanding of ourstakeholders. Effective engagement to ensure they have a good understanding of our businessand the decision we take is vital.

If we can succeed in executing our plans in these five areas, we will further strengthen thecompany, building on the important work that we did in this respect in 2013.

Success is not just about priorities however: our people are key. ArcelorMittal is the sum of itsparts and for the group to deliver on expectations and improve performance, everyone has a roleto play and we need everyone to deliver. We have great people and great management; many ofyou are achieving remarkable results through innovative thinking and impressive projectmanagement. The Performance Excellence Awards are a powerful example of this. In December,I attended a ceremony to present the awards to the winning teams, and was very impressed andmotivated by the teams’ prize-winning projects. The new Performance Excellence Awards cyclewill soon be launched and I am sure will result in a new wave of innovative thinking.

Let’s remember that we are all working together to create an amazing product. Every day,ArcelorMittal steel is being used to build, strengthen, preserve and innovate: steel really does formthe fabric of modern life.

Kind regards, Lakshmi N. Mittal Chairman and CEO

Drop your anchor for the Olympics - our steel made it possibleMillions of people around the world have caught the Olympic spirit again, with Russia

hosting the 2014 Winter Olympics in February, and the Winter Paralympics in March.From every snowboard trick and high speed bob sled race, to each goal in hockey, thisyear’s Sochi Games have captivated a global audience.

But did you know that to make the Winter Olympic Games possible, more than US$51bn wasinvested in Olympic facilities, roads, rail, and other infrastructure projects to prepare the Black Seatown of Sochi for the Games? One of the major upgrade projects involved Sochi’s ports, a key partin transforming the city into an Olympic wonderland.

More than 9,000 tonnes of steel sheet piles from ArcelorMittal Belval in Luxembourg weredelivered to Sochi for the construction of different harbour infrastructures in the five yearspreceding the Games.

The Imeretinskiy cargo port located close to Sochi’s airport and the new Olympic park, 30kmfrom downtown Sochi, is a project that required a US$200m investment. ArcelorMittal shipped8,220 tonnes of AZ 19-700 and AZ 37-700 steel sheet piles from the number two steel mill inBelval to Antwerp in Belgium, where they were loaded onto vessels that sailed to the existing port– the Port of Sochi. After their arrival, the sheet piles were transported onto smaller barges thatwere then shipped to the construction site at the new port.

The port, which has a capacity to handle five million tonnes of cargo a year , served to delivercargo and construction materials to Imeretinskaya Valley, where most construction sites for theGames are located. The main part of the Imeretinskiy port is the new breakwater, which is around1,200m long.

Construction on the new cargo port was completed in summer 2012. The project involvedovercoming challenges posed by the complicated tidal and seismic environment (there area number of deep canyons in the waters surrounding the port).

After the Winter Olympics and Paralympics have closed, the port will be retrofitted into a yachtmarina for 600 to 700 boats. The approximate investment into the port retrofitting is estimatedto be US$67m to US$133m, depending on the final design.

ArcelorMittal sheet piling is in charge of sales, marketing, and promotion of hot rolled steel sheetpiles, cold formed sheet piles, bearing piles and foundation solutions produced by ArcelorMittal’smills in Belval and Differdange in Luxembourg, Dabrowa in Poland, Messempré in France (coldformed), and Dintelmond in The Netherlands (steel tubes for foundations).

Our sheet piles have been used in maritime projects around the world, from Northport (NewZealand), to Straubing port and JadeWeserPort (Germany) as well as Marina Pez Vela (Costa Rica).

CEO’s message

Dear coleeagues, It seems that the spring is already

here so this year we had very weakwinter - we missed the snow but ourraw material flow was uninterruptedand production was not affected. Thewater level of Reservoirs is low and isa concern for this region.

For 2014 we are cautiouslyoptimistic but the price developmentof our steel products is not healthy. Wealso lost steel production in twoconsecutive months – we cannotafford to lose these opportunities inthis difficult economic environment.

During this month we had twoimportant visits. First Mr. GonzaloUrquijo, one of the GMB members tosee our new revamped caster No. oneand meeting senior management teamand second Mr. Geert Van Poelvoorde,the new CEO of Flat Carbon Europe.

This was the first visit for Mr. Geertto Ostrava and he spent more than 11hours in two days on the shop floorvisiting almost all intstallations andmeeting the management team andoperators of the plant. Some of youhad a chance to see him duringProximity meeting. He was highlyimpressed by the diligence andcreativity from the team of people he

met during his visit and I felt proud of you all. He was also very impressed with the questions youasked during the proximity meeting. He was gratified by good housekeeping, your passion forwork and the motivated team. I always believe that in difficult times the team should remain highlymotivated to make sure that they contribute to the efforts of becoming more resilient.

Regarding Health and Safety we haven’t seen any LTI recently but as per statistics we still havemany nearmisses, unsafe acts and also few first aid actions. I still see repeating the same mistakes- this should stop immediately. In the group to date we had five fatalities and all of them are dueto not following the rules and taking risks. I am sure you are aware of all of them. In case you arenot told about please check with your superiors and plant directors. In April we will organizeAwareness Day so I expect lots of innovations and new suggestions from you. You must believethat you can make o lot of difference in the area of Safety not only where you are working but alsoin other areas of operation where your colleagues are working.

Our subsidiary ArcelorMittal Engineering Products Ostrava has approved that t is ready to facechallenges. While five years back they produced the largest mould in the entire history of thecompany with weight of 140 tons, now they have completed machining of a ship crane girder witha weight of 35 tons and a record-breaking length of 26 meters. Thanks to the success of thedemanding order ArcelorMittal Engineering Products Ostrava has acquired an order for machiningof several pieces of girders of the same type. So, I would like to thank ArcelorMittal EngineeringProducts Ostrava for their work, support and a big contribution to our company.

Wish you all and your family a wonderful Spring this year.

Get a job in Africa or AsiaCan you speak English? Do you like challenges and you do not mind taking up a position

abroad? Then maybe one of the 100 key positions available at our sites in ACIS, Algeriaor Romania can be just for you.

The candidates our Group is looking for should help improve performance and competitiveness.The particular destinations, positions and practical experience from everyday life were introducedby CEO of ACIS Mark Vereecke and CEO of ArcelorMittal Galati Herve Mouille.

The participants were most interested in the personal experience and impressions from living inRomania. Herve Mouille shared this information with our employees. The inquiries thus focused onareas like enumeration or schooling for kids in English etc.

For more information on the mobility programme turn to Veronika Muroňová (Tel.: 5679, e-mail:veronika.muronova@arcelormittal.com)

Mobility in a nutshell:Short term assignments (3-12 months)Long term assignments (over a year)Compensation: base pay, 10 % mobilty premium, Hardship allowance (Annaba/Kazachstan 40 %Ukraine, 30 % and S. Africa 15 %)Home trips – every six weeks if married, every three months of single.

Presenting women with tea sets, silver and flowers on IWD

PAGE 4

ArcelorMittal brand appeals to studentsOur stand at Kariera PLUS at VSB-TU Ostrava again attracted crowds of students.

Beside a quiz where visitors could answer interesting questions on steelmaking our companyagain had what to offer. Demand was after Trainee programme into which we should hire up to 50new graduates as well as after paid internships. As always we offered students cooperation onthesis.

Students filled also the auditorium to see a presentation of ArcelorMittal Ostrava by HR and PADirector Jan Rafaj.

Czech cousine is most favorite, says chef GTH cateringGTH catering has been preparing food for our employees for the second consecutive

year. On this occassion we asked the chef Oldřich Krejčí who has been cooking at ourcompany almost all his career a few questions.

How long have you been cooking?I started my cook career as a apprentice at the apprentice school in Vítkovice. After school I did

my military service and six years later I came here to then Nová huť. With a few breaks I have beencooking here for employees of ArcelorMittal Ostrava.

Why did you take up cooking? What brought you to that? My father stirred passion for coking in me as coal miner on disability pension he was cooking for

three boys. Mom at that time was still employed. Dad prepared for us wonderful things which I stillremeber today.

Which food do our employees like the most? Employees appreciate the most classic Czech food. Shopfloor people prefer heavier food. They

like especially beef, pork and cabbage in all sorts of combinations. Very popular is also stew orWiener schnitzel and potatoe salad. Vegetable salads on the contrary get away in headquartersworkers. Concerning soups the most demand is after gulash soup or cabbage. Positive feedbackgot also the steelmakers’ 10 anniversary soup.

What news can our employees look forward to in the coming months?Every month we prepare at all canteens regular gastronomic specialties such as Russian or Thai

cuisine. Now we prepare old Czech food. In April we will offer traditional Easter menu andemployees will find spring food made from young meat, eggs, poultry, fresh vegetable and herbs.

Easter marketsCome to choose products made by clients of sheltered workshop from Ostrava and its

surrounding. You will please not just yourselves but also the clients. You can buy original hand-made gifts on Wednesday 9 April 2014 from 8.00 a.m.-2.00 p.m. outside the cafeteria atHeadquarters or on Thursday April 10 from 8.30 a.m. - 2.30 p.m. at Office Building ofArcelorMittal Tubular Products.

PAGE 5

Parents with kids will sing gospelsArcelorMittal Ostrava together with Cultural Ostrava NGO prepared a gospel workshop

that took place from Friday March 28, 4.00 pm. The worshop will be completed onSunday 30 March at 5 pm with a concert for the public in a multigenre center ofCooltour. The event known under the name of Family gospel is intended especially forchildren and their families. They will have a chance to sing along with a Danish gospelsinger Sarah Moshage.

Figure of the month:4500 so many kilograms our employees eat on average in a month at our canteens.

Do you know that…Foreign experts show interest in our environmental measures? That is apparent from the visit of

environmental manager of ArcelorMittal Tubarao in middle of March. He was interested especiallyin decreasing emmisions at sinter plant, waste management and by-products. He was impressedby our new bag filters at sinter plant North. This investment for nearly one billion crowns has beencontributing significantly to reduction of dust emissions which are generated during manufacturingof sinter.

Blue Camel: Good job, guysThese words were also voiced from the GMB member Gonzalo Urquijo during his latest

visit to our site in early March.

Caption: Gonzalo Urquijo (on the left) was interested in the progress of the project and its results. He appreciated not onlyour functioning systems but also skills of our experts and the speed of the project. As part of the program he also talked toofficials of ArcelorMittal Tubular Products Ostrava.

PAGE 6

More than 80% of employees would recommend ArcelorMittal Are you satisfied with your pay? Do you perceive ArcelorMittal in a positive way? Are

you informed about goals and priorities of the company? The management ofArcelorMittal Group was looking for answer to these questions through a surveyconducted among white collar workers.

The goal of the survey was to find out level of employee’s engagement and motivation in allcountries where the company operates. It focused on 11 selected areas where respondentsanswered a whole range of questions. The results show that employee’s engagement increased inall areas in comparison with 2011. They are also above the average values at FCE. 898 employeesof ArcelorMittal Ostrava got engaged in the survey which was conducted later last year. Thatrepresents 71 % turn-out. To see the highlights go to intranet.

Difficult life situations: Crisis centre along with our specialists willhelp you

Crisis center experts trained a team of our HR specialists for crisis aid. Since March1 our company is thus ready to provide support to our employees and their families whenworkers suffer serious injury or become a victim of fatal accident.

PAGE 4

Fire at sinter plant broke out where nobody expected itOn Tuesday, Feb 25 a fire broke out at sinter plant North. The fire seized conveyer belt

leading from coke grinding mill. Our fire fighters immediately set out to the spot andconsequently other fire brigades from Moravian-Silesian regions as well as voluntaryfiremen from the surrounding communities came to help them.

The fire gradually spread out and affected belts P14 and P72. All fire brigades called to actiontogether managed to put the fire down. All employees were evacuated from the endangered spaceand nobody including employees and firefighters got hurt. Surprising was a finding that the fire did notbreak out at hot operation. “The fire erupted at a site where we haven’t expected it. That is whyI would like to ask all our employees to be cautious and attend to potential risks at their workplaceswhich under certain conditions could cause a fire even at sites where they would not expect it. Pleasereport such cases to your leader, plant director or TONDA communication box,” asks employees to co-operate COO Anoop Nair. The fire in his view is one of the big dangers which can affect not onlyhealth and safety of our employees but can have a critical impact on the whole company.

Presenting results of collective bargainingAfter thirteen rounds of discussions on new amendment to collective labor agreement

representatives of the management closed a deal with TU leaders.

In early March they signed the Amendment No. 1 effective for the period of 2013-2015. Itapplies to ArcelorMittal Ostrava, ArcelorMittal Energy Ostrava and ArcelorMittal EngineeringProducts Ostrava. The changes are effective since April 1, 2014. The part concerning salaries (seechapter D) is valid till the end of 2014. For more information please go to intranet.

PAGE 8

Width of sheet? Ideally below fiftyArcelorMittal Distribution Solutions operates five cutting lines. The main line PDL 2 is designed

to cutting sheets of minimal width of 200 mm. We managed to push this limit two years ago anddrop it under 140 mm. Our goal is to use this line for as many products as possible and increase itsproductivity in slim sheets. The company is preparing new projects which would enable us to cut50 mm sheets.

We can process Polish coils tooArcelorMittal Distribution Solutions processes coils from our Ostrava’s Steckel mill but

currently input material flows in from our sister rolling mill in Cracow.Recently we have been processing deliveries from Cracow mainly due to limited chemical

composition of our steel. As, some of our customers request the sheets to contain limited contentof silicon and phosphorus which our steel shop is not able to guarantee. In 2013 we ordered inCracow a total of 16.000 tons of material.

Health and Safety Day 2014On 28 April the traditional Health and Safety Day will be held. This year it will focus on

prevention of working at heights or slipping and tripping. As for health area we will deal with hearing and respiration protection but also very up-to-date

topic of no smoking.Looking forward to seeing you soon.Your H&S team

PAGE 9

Well done! Frýdek starts coming through with new productsThe trend of decling sale prizes of our major product – GO steel carried on in 2013.

For this reason the management of Frýdek’s company was intensively looking for newways how to increase profitability of the company.

The launch of a high carbon production got the biggest support as this project is within theCentral and East European mill unique. Due to weaker and limited competition it is economicallyinteresting. The sale prizes of high carbon steel reach interesting margins excessing our topproduct of GO steel.

The project is currently in a pilot phase. During fall and winter time we managed to samplesupplies of high carbon steel to a Slovakian company - one of the biggest producers of connectinglamellas for heavy transport machinery in Europe.The trial period has been closed andArcelorMittal Frýdek-Místek has been approved as an authorized supplier. In March they producedfirst serial delivery in the total volume of 100 ton. The goal of the company is to produce and sell2 000 tons of this steel in 2014. Keep your fingers crossed for us!

We know the Solidarity Holidays volunteersArcelorMittal Foundation after a thorough review chose a total of 90 employees from

ArcelorMittal Group who will help as volunteers at one of the voluntary projects of the Foundationabroad. The countries which will host teams of international volunteers include Bosnia, Poland,Kazachstan, Romania, South Africa,, Liberia, Brasil, Argentina and Mexico. On the list of selectedvolunteers you can find also two of our colleagues – Jakub Martičák from Quality and GabrielaPernická from Laboratory. Jakub is heading to South Africa and Gabriela to Bosnia.

PAGE 10

Karviná’s maintenance staff: in quick, high quality and modern wayThe local Maintenance team has become in a short period of time a modern, dynamic center

that secures not only the maintenance of the in-house machinery but besides prepares andproduces rolls for sisiter companies in Central Europe. Besides they also cooperate with investmentteam during investment actions. The team is not afraid of new trends either. That is why they tryto implement the Reliability Centered Maintenance system as the first unit in the segment.

Killer which you won’t see or smellWe perceive many risks at work through our senses. In spite of that, employees of our

steelmaking operations are exposed to one risk which is for human health very serious and whichwe cannot discover with our senses. That is the case of carbon monoxide. Our company is awareof this risk and for this reason over two years personal gas detectors were bought at a valueexceeding 10 million crowns. Now all our employees entering space with a danger of gasoccurrence are equipped with this device.

Six years withoutserious accident

Six years. For such a longperiod our employees ofArcelorMittal Energy Ostravahave been working withoutan LTI. In spite of that thecompany still strives tosearch for new ways how toincrease safety. The latestpreventive safety measure isinstallation of new warningsigns posted near railways.That should contribute todecrease the risk of accidentsand injuries related to railwaytransport.

PAGE 11

Václav Kubenka is being retiredAfter nearly thirty nine years of service for our former Tube plant Václav Kubenka,

a long term TU chairman heads to deserved retirement.

Satisfied customer paid a visit to our tube plantFor two years our company has been carrying on with a cooperation on a construction

of the NOREADE water supply in the north of France. Later in February top executivesfrom companies participating on this project came to see our mill.

In January a contract was signed on delivery of further thirty km of welded pipes of 711 mmdiameter. This order will be gradually fulfilled throughout the first half of the year.

Short news…On April 10 Easter market will be held at our company. You can find more information

on our notice boards.

PAGE12

International ArcelorMittal receives steel supplier top rating from Ford Our flat carbon facilities in North America were recently recognised by Ford Motor Company,

receiving a number one business unit review (BUR) rating for the past five consecutive reportingperiods. 21/01/2014

ArcelorMittal partners with Conserval Engineering for cutting-edge solar air heating technologyArcelorMittal has entered a partnership with the world leader in solar air heating, Conserval

Engineering, to manufacture SolarWall®, a technology that uses solar radiation to heat buildingswhile reducing a building’s heating costs by up to 50%. SolarWall® will be produced by ourcolleagues in Haironville, part of ArcelorMittal Construction France, for SolarWall Europe.05/02/2014

Europe ArcelorMittal Gent prepares for Capesize ships with €13.3m sea cranes orderArcelorMittal Gent has placed a €13.3m order for two new harbour cranes. The news comes

ahead of the arrival in 2020 of a new sea lock in the Belgian port of Terneuzen that will allowCapesize vessels to access ArcelorMittal’s quay in Gent port. 31/01/2014

ArcelorMittal Ostrava achieves lowest number of lost time injuries in its historyIn 2013, ArcelorMittal Ostrava achieved the best lost-time injury frequency rate in its history,

with only five accidents recorded for the entire year. This good performance was achieved thanksto diligent observation of health and safety rules and thanks to innovative projects in health andsafety protection. 07/02/2014

Africa ArcelorMittal Algeria rebar used in Constantine’s ‘wonder’ bridge  More than 18,000 tonnes of rebar produced in Annaba, Algeria, are being used to build the

foundations of the 1.2km Trans-Rhumel viaduct in Constantine, north-east Algeria. 23/01/2014

AmericaEnergy upgrades save ArcelorMittal Dofasco US$7.3m a year Our Dofasco site in Hamilton, Canada, has used US$10.8m in incentives and invested a net total

of US$8.3m in energy upgrades. These investments are now allowing ArcelorMittal Dofasco tosave US$7.3 million a year. 30/01/2014

AsiaArcelorMittal Aktau showcases products in Karaganda customer day Our tubular products site in Aktau, Kazakhstan, hosted an event to showcase its products and

services to customers in the Karaganda region. The event brought together local authorities,construction companies and the Aktau plant’s business partners, including leading naturalresources group Kazakhmys Corporation. 29/01/2014.