06 Aug - 8 min read

ACL - Vesting and Settlement: Long Term Incentive Plan(“LTIP”)

ACL - Vesting and Settlement: Long Term Incentive Plan(“LTIP”)

ARCELORMITTAL SOUTH AFRICA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1989/002164/06)
Share code: ACL ISIN: ZAE000134961
(“ArcelorMittal South Africa” or “the Company")

VESTING AND SETTLEMENT: LONG TERM INCENTIVE PLAN (“LTIP”)

Shareholders are advised that the LTIP has been established in line with the requirements of the JSE
and was created as a mechanism to reward and retain management effectively and link remuneration
to performance of the Company. It has a vesting period of 3 years after the date of the grant. It is also
linked to performance of the Company and is 100% performance based in respect of senior executives
and 50% for other executives and management.

The settlement method in terms of the LTIP Rules is the purchase of shares on the market and delivery
of the shares to participants, unless participants opt to sell shares, in which event such shares are sold
and the cash paid to the participants, subject to tax obligations. Shareholders are further advised that
pursuant to the settlement process in respect of the vesting of the LTIP in 2021, the results are as set
out herein.

GENERAL LTIP PARTICIPANTS

Pursuant to 109 general LTIP participants in 2018 accepting the allocation of grants and participating
in terms of the LTIP Rules, such grant has vested on 21 June 2021 in respect of the shares of
management employees who are not prescribed officers and settled as follows:

Company:                         ArcelorMittal South Africa
Class of securities:             Ordinary shares
Date of settlement:              5 August 2021
Number of LTIP shares:           7 995 229
Share Price:                     R6.90 (VWAP of traded shares)
Lowest price per security:       R6.90 cents per security
Highest price per security:      R6.90 cents per security
Total value of transaction:      R55 167 080.10
Nature of transaction:           Settlement of LTIP Grant in terms of LTIP Rules and on-market sale
                                 of shares
Nature of interest:              Direct beneficial
Clearance obtained:              Yes

DEALINGS IN SECURITIES BY DIRECTORS AND PRESCRIBED OFFICERS

Information on the settlement process and dealing in shares, involving a partial or total sale of shares,
in respect of management employees is set out below. In circumstances where the number of shares
set out below is less than the number that vested, only a part thereof has been sold on-market, with the
balance having been delivered to the participant in terms of the LTIP. Where no dealing has taken
place, the default position has applied, and the shares have been delivered to such participants

Vesting

Pursuant to the 2018 grant and participating in terms of the LTIP Rules, the following has vested in
respect of the following directors and prescribed officers:

                                                    
Directors

 Name                                                  HJ Verster
 Date LTIP Granted (Offer Date)                        2018/06/21
 Type of Interest (Type of Scheme)                     LTIP
 Number of shares vested (Applicable to transaction)   1 350 932
 Date LTIP vested                                      2021/06/21
 Vesting Period (Period of outside date)               3 years
 VWAP                                                  R5.09 per security
 Value (on 21 June 2021)                               R6 876 243.88

Prescribed Officers

 Name                                                  M Adam
 Date LTIP Granted (Offer Date)                        2018/06/21
 Type of Interest (Type of Scheme)                     LTIP
 Number of shares vested (Applicable to transaction)   504 145
 Date LTIP vested                                      2021/06/21
 Vesting Period (Period of outside date)               3 years
 VWAP                                                  R5.09 per security
 Value (on 21 June 2021)                               R2 566 098.05

 Name                                                  JF Swart
 Date LTIP Granted (Offer Date)                        2018/06/21
 Type of Interest (Type of Scheme)                     LTIP
 Number of shares vested (Applicable to transaction)   161 430
 Date LTIP vested                                      2021/06/21
 Vesting Period (Period of outside date)               3 years
 VWAP                                                  R5.09 per security
 Value (on 21 June 2021)                               R821 678.70

 Name                                                  VDJM de Sousa
 Date LTIP Granted (Offer Date)                        2018/06/21
 Type of Interest (Type of Scheme)                     LTIP
 Number of shares vested (Applicable to transaction)   63 756
 Date LTIP vested                                      2021/06/21
 Vesting Period (Period of outside date)               3 years
 VWAP                                                  R5.09 per security
 Value (on 21 June 2021)                               R324 518.04

 Name                                                  JD Muller
 Date LTIP Granted (Offer Date)                        2018/06/21
 Type of Interest (Type of Scheme)                     LTIP
 Number of shares vested (Applicable to transaction)   126 276
 Date LTIP vested                                      2021/06/21
 Vesting Period (Period of outside date)               3 years
 VWAP                                                  R5.09 per security
 Value (on 21 June 2021)                               R642 744.84

 Name                                                  AC Louis
 Date LTIP Granted (Offer Date)                        2018/06/21
 Type of Interest (Type of Scheme)                     LTIP
 Number of shares vested (Applicable to transaction)   52 560
 Date LTIP vested                                      2021/06/21
 Vesting Period (Period of outside date)               3 years
 VWAP                                                  R5.09 per security
 Value (on 21 June 2021)                               R267 530 .40

 Name                                                  S Achmat
 Date LTIP Granted (Offer Date)                        2018/06/21

                                             
 Type of Interest (Type of Scheme)                     LTIP
 Number of shares vested (Applicable to transaction)   74 126
 Date LTIP vested                                      2021/06/21
 Vesting Period (Period of outside date)               3 years
 VWAP                                                  R5.09 per security
 Value (on 21 June 2021)                               R377 301.34

 Name                                                  W Venter
 Date LTIP Granted (Offer Date)                        2018/06/21
 Type of Interest (Type of Scheme)                     LTIP
 Number of shares vested (Applicable to transaction)   306 106
 Date LTIP vested                                      2021/06/21
 Vesting Period (Period of outside date)               3 years
 VWAP                                                  R5.09 per security
 Value (on 21 June 2021)                               R1 558 079.54

Prescribed Officer (Resigned)

 Name                                                  AM Ngapo
 Date LTIP Granted (Offer Date)                        2018/06/21
 Type of Interest (Type of Scheme)                     LTIP
 Number of shares vested (Applicable to transaction)   85 474
 Date LTIP vested                                      2021/06/21
 Vesting Period (Period of outside date)               3 years
 VWAP                                                  R5.09 per security
 Value (on 21 June 2021)                               R435 062.66

Settlement

Information on the settlement process and dealing in shares, involving a partial or total sale of shares,
in respect of prescribed officers is set out below. In circumstances where the number of shares set out
below is less than the number that vested, only a part thereof has been sold with the balance having
been delivered to the participant in terms of the LTIP. Where no dealing has taken place, the default
position has applied, and the shares have been delivered to such participants.

Director:                           Hendrik Jacobus Verster
Company:                            ArcelorMittal South Africa
Class of securities:                Ordinary shares
Date of transaction:                5 August 2021
Number of LTIP shares:              1 350 932
Share price:                        VWAP R6.90 cents per security
Lowest price per security:          R6.90 cents per security
Highest price per security:         R6.90 cents per security
Total value of transaction:         R9 321 430.80
Nature of transaction:              Settlement of LTIP Grant in terms of LTIP Rules and on-market sale
                                    of shares
Nature of interest:                 Direct beneficial
Clearance obtained:                 Yes

Prescribed Officer:                 Mohamed Adam
Company:                            ArcelorMittal South Africa
Class of securities:                Ordinary shares
Date of transaction:                5 August 2021
Number of LTIP shares:              202 587
Share price:                        VWAP R6.90 cents per security
Lowest price per security:          R6.90 cents per security
Highest price per security:         R6.90 cents per security
Total value of transaction:         R1 397 850.30
Nature of transaction:              Settlement of LTIP Grant in terms of LTIP Rules and on-market sale
                                    of shares
Nature of interest:                 Direct beneficial
Clearance obtained:                 Yes

Prescribed Officer:                 Jacobus Frederick Swart
Company:                            ArcelorMittal South Africa
Class of securities:                Ordinary shares
Date of transaction:                5 August 2021
Number of LTIP shares:              64 870
Share price:                        VWAP R6.90 cents per security
Lowest price per security:          R6.90 cents per security
Highest price per security:         R6.90 cents per security
Total value of transaction:         R447 603.00
Nature of transaction:              Settlement of LTIP Grant in terms of LTIP Rules and on-market sale
                                    of shares
Nature of interest:                 Direct beneficial
Clearance obtained:                 Yes

Prescribed Officer:                 Vasco De Jesus Mended De Sousa
Company:                            ArcelorMittal South Africa
Class of securities:                Ordinary shares
Date of transaction:                5 August 2021
Number of LTIP shares:              25 620
Share price:                        VWAP R6.90 cents per security
Lowest price per security:          R6.90 cents per security
Highest price per security:         R6.90 cents per security
Total value of transaction:         R176 778.00
Nature of transaction:              Settlement of LTIP Grant in terms of LTIP Rules and on-market sale
                                    of shares
Nature of interest:                 Direct beneficial
Clearance obtained:                 Yes

Prescribed Officer:                 Jacobus Daniel Muller
Company:                            ArcelorMittal South Africa
Class of securities:                Ordinary shares
Date of transaction:                5 August 2021
Number of LTIP shares:              50 743
Share price:                        VWAP R6.90 cents per security
Lowest price per security:          R6.90 cents per security
Highest price per security:         R6.90 cents per security
Total value of transaction:         R350 126.70
Nature of transaction:              Settlement of LTIP Grant in terms of LTIP Rules and on-market sale
                                    of shares
Nature of interest:                 Direct beneficial
Clearance obtained:                 Yes

Prescribed Officer:                 Sedick Achmat
Company:                            ArcelorMittal South Africa
Class of securities:                Ordinary shares
Date of transaction:                5 August 2021
Number of LTIP shares:              74 126
Share price:                        VWAP R6.90 cents per security
Lowest price per security:          R6.90 cents per security
Highest price per security:         R6.90 cents per security
Total value of transaction:         R511 469.40
Nature of transaction:              Settlement of LTIP Grant in terms of LTIP Rules and on-market sale
                                    of shares
Nature of interest:                 Direct beneficial
Clearance obtained:                 Yes
                                                
Prescribed Officer:                 Werner Venter
Company:                            ArcelorMittal South Africa
Class of securities:                Ordinary shares
Date of transaction:                5 August 2021
Number of LTIP shares:              306 106
Share price:                        VWAP R6.90 cents per security
Lowest price per security:          R6.90 cents per security
Highest price per security:         R6.90 cents per security
Total value of transaction:         R2 112 131.40
Nature of transaction:              Settlement of LTIP Grant in terms of LTIP Rules and on-market sale
                                    of shares
Nature of interest:                 Direct beneficial
Clearance obtained:                 Yes

No dealing has taken place and the default position has applied in terms of which the shares were
delivered to the following participants in terms of the LTIP Rules:

Prescribed Officer:                 Aldrich Louis
Company:                            ArcelorMittal South Africa
Class of securities:                Ordinary shares
Date of transaction:                5 August 2021
Number of LTIP shares:              52 560

Prescribed Officer (Resigned):      Alpheus Motampe Ngapo
Company:                            ArcelorMittal South Africa
Class of securities:                Ordinary shares
Date of transaction:                5 August 2021
Number of LTIP shares:              85 474

Vanderbijlpark Works
6 August 2021

For further information please contact:
Mr Tami Didiza: Corporate Communications
Tel: (016) 889 4100

Company Secretary: FluidRock Co Sec (Pty) Ltd

Sponsor to ArcelorMittal South Africa Limited
Absa Bank Limited (acting through its Corporate and Investment Banking division)




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Date: 06-08-2021 04:15:00
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