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Update on ArcelorMittal South Africa’s Long Steel Business (“the Longs Business”)
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")
UPDATE ON ARCELORMITTAL SOUTH AFRICA'S LONG STEEL BUSINESS ("THE
LONGS BUSINESS")
Shareholders are referred to the various announcements released on the Stock Exchange
News Service of the JSE Limited ("SENS"), the most recent of which was released on
11 August 2025.
In terms of the abovementioned announcements, ArcelorMittal South Africa previously
announced that during the six- month deferral period ending on 30 September 2025 ("Deferral
Period"), "the Company has been exploring various strategic options while the IDC has
simultaneously been conducting its due diligence into the Company and the Government has
been pursuing structural interventions. Significant effort has been given to this exercise, which
remains ongoing".
It was also stated in the SENS announcement released on 14 July 2025 that the Longs
Business " will only be able to continue with financial support as the Company does not have
the ability to bear any further financial risk associated with its continued operations after the
Deferral Period. Therefore, unless a solution is implemented timeously, and to ensure the
orderly closure of the Longs Business as soon as possible after the Deferral Period,
ArcelorMittal South Africa may have no option but to take certain operational steps to prepare
for the wind down process well in advance of 30 September 2025".
Unfortunately, despite the hard work put in by management, the IDC, Government and other
stakeholders, a solution has not been implemented. Further, funding to operate the Longs
Business beyond 30 September 2025 has not been obtained.
In the circumstances, the Newcastle blast furnace has been placed into temporary care and
maintenance and the Company must now take further preparatory steps towards the potential
closure of the Longs Business, including communication with employees. At the appropriate
time, and to the extent required, the relevant notices in terms of the Labour Relations Act may
need to be issued.
Notwithstanding, the Longs Business will continue trading until shortly after the Deferral Period.
The Flats Business, on the other hand, remains operational and available to meet customer
requirements.
The IDC due diligence process has not been concluded and remains ongoing.
Accordingly, shareholders are advised to continue to exercise caution when dealing in the
Company's securities until a further announcement is made.
ArcelorMittal South Africa will provide further updates on this process as may be required.
Vanderbijlpark
2 September 2025
For further information please contact:
Tami Didiza: Manager: Corporate Communications
Tel: (016) 889 2549/ (016) 889 4100
Company Secretary
FluidRock Co Sec (Pty) Ltd
Tel: (016) 889 4077
Sponsor
Absa Bank Limited (acting through its Corporate and Investment Banking division)
Date: 02-09-2025 03:34:00
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The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
