ArcelorMittal announces results for the second quarter of 2020 and half of 2020

• Health and safety: protecting the health and well-being of employees remains the main priority of the Company; LTIF2 is 0.77x in Q2 2020 and 0.91x in Q1 2020.
• Q2 2020 production figures reflect the negative impact of the COVID-19 pandemic primarily on the steel business, with a decline in demand leading to a 23.7% sequential reduction in steel supplies (H1 2020 shipments are 23% lower yoy) /d)

• An operating loss of $ 0.3 billion in Q2 2020 includes $ 0.2 billion in exceptional items3 (an operating loss of $ 0.6 billion in H1 2020 includes an impairment of $ 0.8 billion and exceptional clauses3)
• EBITDA amounted to $ 0.7 billion in the 2nd quarter of 2020 (EBITDA for the 1st half of 2020 $ 1.7 billion)
• Net loss in 2Q2020 was $ 0.6 billion (net loss for 1H 2020 was $ 1.7 billion, adjusted net loss was $ 0.9 billion, excluding impairment and special items3)
• Free cash outflow was limited to USD 0.4 billion (net cash from operating activities was USD 0.9 billion minus USD 1.3 billion in capex) in 1H 2020 and included investments in working capital of USD 0.5 billion.
• Gross debt of $ 13.5 billion and net debt of $ 7.8 billion as of June 30, 2020 (down $ 2.3 billion from June 30, 2019) – the lowest level achieved since the merger of ArcelorMittal
• Liquidity at the end of Q2 2020 amounted to USD 11.2 billion (including cash and cash equivalents in the amount of USD 5.7 billion and USD 5.5 billion available credit lines5)

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