ACL - Disposal of property and rental enterprise to K2024668522 (South Africa) Proprietary Limited 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") DISPOSAL OF PROPERTY AND RENTAL ENTERPRISE TO K2024668522 (SOUTH AFRICA) PROPRIETARY LIMITED 1. INTRODUCTION 1.1 The shareholders of ArcelorMittal South Africa are advised that, on 12 March 2025 ("Signature Date"), Saldanha Steel Proprietary Limited ("Saldanha Steel"), a wholly owned subsidiary of ArcelorMittal South Africa, entered into a sale of property and rental enterprise agreement ("Agreement") with K20244668522 (South Africa) Proprietary Limited ("Purchaser"), in terms of which Saldanha Steel will dispose of – 1.1.1 the property known as Erf 11911 Saldanha, Western Cape and all improvements thereof ("Erf 11911") together with the rental enterprise conducted thereon, as a going concern ("Rental Enterprise"); and 1.1.2 the property known as Erf 11912 Saldanha, Western Cape and all improvements thereof ("Erf 11912"), hereinafter collectively referred to as the "Sale Property", for an aggregate purchase price of R134,000,000.00, ex VAT ("Purchase Price"). The Purchaser will settle the Purchase Price as follows – 1.1.3 a sum of R10,000,000.00 will be paid by way of a cash deposit within 10 days from the Signature Date ("Cash Deposit"); and 1.1.4 the balance of the Purchase Price ("Balance") will be paid against registration of transfer of ownership of Erf 11911 and Erf 11912 into the name of the Purchaser in the relevant deeds office. 2. RATIONALE FOR DISPOSAL AND APPLICATION OF PROCEEDS 2.1 The disposal of the Sale Property is aligned with management's strategy to dispose of non-core assets. 2.2 The proceeds from the Sale Property will be used for general corporate funding purposes. 3. PURCHASER 3.1 The Purchaser is a wholly owned subsidiary of Pindulo VDM Proprietary Limited ("Pindulo"). 3.2 The beneficial owners of Pindulo are VDM Group Proprietary Limited (69.92%) and Blue Jo Proprietary Limited (30.08%). 4. CONDITIONS PRECEDENT 4.1 The Agreement is subject to the following conditions precedent – 4.1.1 by not later than 31 May 2025, the transaction is approved by the Competition Authorities in terms of the Competition Act, either unconditionally or, in the event of a conditional approval, on terms acceptable to Saldanha Steel and the Purchaser in accordance with the relevant clause of the Agreement; and 4.1.2 by no later than 30 April 2025, registration of transfer of ownership of Erf 11911 and Erf 11912 from ArcelorMittal South Africa Distribution Proprietary (a wholly owned subsidiary of the Company) into the name of the Saldanha Steel has been effected in the relevant deeds office; and 4.1.3 by no later than 3 business days from the date of fulfilment of the condition precedent contemplated in paragraph 4.1.2 above, the Purchaser has provided Saldanha Steel with written confirmation that the Purchaser is a vendor as that term is defined in section 1 of the VAT Act, No 89 of 1991 and be registered as such in terms of section 23 thereof. 5. REPRESENTATIONS AND WARRANTIES 5.1 The Agreement contains representations and warranties by the parties in favour of one another which are standard for transactions of this nature. 5.2 The Sale Property is sold voetstoots to the Purchaser. 6. EFFECTIVE DATE OF THE DISPOSAL The effective date of the disposal in respect of the Sale Property will be the date of registration of transfer of ownership of Erf 11911 and Erf 11912 into the name of the Purchaser in the relevant deeds office which is anticipated to be on or about 11 July 2025. 7. FINANCIAL INFORMATION 7.1 The value of the net assets attributable to the Sale Property is R134,000,000.00 and the profits attributable is Rzero. ("Financial lnformation") 7.2 The Financial Information has been extracted from the reviewed condensed consolidated financial statements, as at 31 December 2024, which were prepared in terms of International Financial Reporting Standards. The Financial Information is the responsibility of the directors of the Company and has not been reviewed by the Company's auditors. 8. CATEGORISATION The disposal is classified as a Category 2 transaction in terms of the JSE Limited Listings Requirements and is accordingly not subject to shareholder approval. Vanderbijlpark 14 March 2025 Sponsor Absa Bank Limited (acting through its Corporate and Investment Banking Division) Legal Advisor Cliffe Dekker Hofmeyr Inc Transaction Advisor Investec Bank Limited Date: 14-03-2025 04:43:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 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. 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