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Profile ArcelorMittal is the world's number one steel company, with over 320,000 employees in more than 60 countries. It has led the consolidation of the world steel industry and today ranks as the only truly global steelmaker. ArcelorMittal is the leader in all major global markets, including automotive, construction, household appliances and packaging. The Group leads in R&D and technology, holds sizeable captive supplies of raw materials and operates extensive distribution networks. Its industrial presence in Europe, Asia, Africa and America gives the Group exposure to all the key steel markets, from emerging to mature. ArcelorMittal will be looking to develop positions in the high-growth Chinese and Indian markets. ArcelorMittal key financials for 2007 show revenues of US$ 105.2 billion, with a crude steel production of 116 million tonnes, representing around 10% of world steel output. ArcelorMittal is currently listed under the legal entity Mittal Steel NV on the stock exchanges of New York, Amsterdam, Paris, Brussels, Luxembourg and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia.

History ArcelorMittal's success has been built on a consistent strategy that emphasises size and scale, vertical integration, product diversity, continuous growth in higher value products and a strong customer focus. The Group has unique geographical and product diversification which reduces exposure to risk and cyclicity and responds to one of our core values: Sustainability.

ArcelorMittal intends to continue to play a leading role in the consolidation of the global steel industry and to be the global leader in the steel industry, in particular through this comprehensive business strategy.

Products & Services ArcelorMittal is the only producer offering the full range of steel products and services. From commodity steel to value-added products, from long products to flat, from standard to specialty products, from carbon steel to stainless steel and alloys, ArcelorMittal offers a complete spectrum of steel products - and supports it with continuous investment in process and product research. • • • • • • • • • • • • •

Automotive Construction Distribution Flat International Long Mining Projects Stainless Steel Services Centres Total Offer Processing Tubular Products Wire

Market leader ArcelorMittal is the world’s largest steel producer, with an annual production capacity of over 130 million tonnes of crude steel for the year ended December 31 2007. Steel shipments for the year ended December 31 2007 totalled approximately 110 million tonnes. ArcelorMittal is the largest producer of steel in both Western Europe and Eastern Europe, North and South America, Africa, and the second largest steel producer in the CIS region, with a growing presence in Asia, including a controlling stake in an integrated

steel mill in China. They are the largest steel producers in the USA, Canada and Mexico. They are also the largest steel producers in the European Union, with significant operations in France, Germany, Belgium, Spain, Poland, the Czech Republic and Romania. In addition, many of their operating units have access to markets experiencing significant economic growth and which are expected to experience above average growth in steel consumption (such as Central and Eastern Europe, South America, Africa and CIS). They have a diversified portfolio of products to meet a wide range of customer needs across all steel-consuming industries, including the automotive, appliance, engineering, construction and machinery industries. They sell our products in local markets and through a centralised marketing organisation to customers in approximately 170 countries. They diversified product offering, including their distribution network and Research and Development (R&D) programmes, enables them to build strong relationships with customers, which include many of the world’s majorautomobile and appliance manufacturers. With approximately 25% of the worldwide market share of flat steel sheets for the automotive industry, ArcelorMittal is a strategic partner for the major Original Equipment Manufacturers (OEMs) which allows them to build long-term relationships with them based on long-term contracts, early vendor involvement, contributions to global OEM platforms and common value-creation programmes. By operating a portfolio of assets that are diversified across product segments and geographical regions, they benefit from a number of natural hedges that have historically resulted in relatively stable cash flows, protecting us from weaknesses in any one particular country

or region, significant recent world events, and volatility in commodity and currency markets over time. At the same time ArcelorMittal has potential to create value addition and synergies in markets where it operates. In certain segments and products (such as Stainless Steel and Pipes and Tubes) where it may not be the largest producer, it is in a unique position to be selective in its acquisitions and thereby reduce risks.

Business Strategy ArcelorMittal’s success has been built on a consistent strategy that emphasises size and scale, vertical integration, product diversity, continuous growth in higher-value products and a strong customer focus. they intend to continue to play a leading role in the consolidation of the global steel industry and to be the global leader in the steel industry, in particular through the following: Three dimensional strategy for sustainability and growth ArcelorMittal has unique geographical and product diversification coupled with upstream and downstream integration which reduces exposure to risk and cyclicality. This strategy can be broken down into its three major elements: l Geography: ArcelorMittal is the largest producer of steel in Europe, North and South America and Africa and the second largest steel producer in the CIS region, with a growing presence in Asia, particularly in China. ArcelorMittal has steelmaking operations in 20 countries on four continents, including 65 integrated, mini-mill and integrated mini-mill steelmaking facilities. ArcelorMittal’s

steelmaking operations have a high degree of geographic diversification. Approximately 35% of its steel is produced in the Americas, approximately 46% is produced in Europe and approximately 19% is produced in other countries, such as Algeria, Kazakhstan, Morocco, South Africa and the Ukraine. ArcelorMittal is able to improve management and spread its risk by operating in six segments based on its geographical and product diversity. Worldwide steel demand is driven by growth in developing economies, in particular in the BRICET countries. their expansion strategy over recent years has given us a leading position in Africa, Central and Eastern Europe, South America and Central Asia. We are also building our presence in China and India. As these economies develop, local customers will require increasingly advanced steel products as market needs change.

2.Products: A global steel producer must be able to meet the needs of different markets. Steel consumption and product requirements clearly differ between mature economy markets and developing economy markets. Steel consumption in mature economies is weighted towards flat products and a higher value-added mix, while developing markets utilise a higher proportion of long products and commodity grades. To meet these diverse needs, they plan to maintain a high degree of product diversification. they also plan to seek opportunities to increase the proportion of our product mix consisting of higher value-added products. they produce a broad range of high-quality finished, semi-finished carbon steel products and stainless steel products. With this high degree of product portfolio we are in a unique position to reduce

exposure to volatile earnings. 3 Value Chain: ArcelorMittal plans to continue to develop its upstream and downstream integration. they intend to increase selectively, our access to, and ownership of low-cost raw material supplies, particularly in locations adjacent to or accessible from our steel plant operations. ArcelorMittal has access to high-quality and low cost raw material through its captive sources and long-term contracts. Downstream integration is a key element of our strategy to build a global customer franchise. In high-value products, downstream integration allows steel companies to be closer to the customer and capture a greater share of value-added activities. As their key customers globalise, they intend to invest in value-added downstream operations, such as Steel Service Centres and building and construction support unit services for the construction industry. In addition, they intend to continue to develop their distribution network in selected geographic regions. These downstream and distribution activities should allow us to benefit from better market intelligence and better manage inventories in the supply chain to reduce volatility and improve working capital management. Furthermore they will continue to expand their production of value-added products in developing markets, leveraging off our experiencein developed markets.

Top steel producer in 2007 Crude steel output Rank Company Country (millions of metric tonnes) 1 ArcelorMittal Luxembourg 116.4 2 Nippon Steel Japan 34.5 3 JFE Japan 33.8 4 POSCO Korea 32.8 5 Baosteel China 28.6 6 Tatal Steel India 26.5 7 Anben China 23.8 8 Jiangsu Shagang China 22.9 9 Tangshan China 22.8 10 US Steel USA 20.5 11 Wuhan China 20.2 12 Nucor USA 20.0 13 Riva Italy 17.9 14 Gerdau Brazil 17.9 15 ThyssenKrupp Germany 17.0 16 Severstal Russia 16.8 17 Evraz Russia 16.3 18 Maanshan China 14.2 19 SAIL India 13.9 20 Sumitomo Japan 13.5