ArcelorMittal South Africa Limited (JSE:ACL) News - 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) 5 Date: 06-08-2021 04:15:00 Produced by the JSE SENS Department. 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