ArcelorMittal S.A. : ArcelorMittal reports first quarter 2013 results

    ArcelorMittal S.A. : ArcelorMittal reports first quarter 2013 results

Luxembourg, May 10, 2013  - ArcelorMittal (referred  to as "ArcelorMittal"  or 
the "Company") (MT  (New York, Amsterdam,  Paris, Luxembourg), MTS  (Madrid)), 
the world's  leading  integrated steel  and  mining company,  today  announced 
results^[1] for the three month period ended March 31, 2013.
On January 1,  2013, in accordance  with IFRS as  issued by the  International 
Accounting Standards Board ("IASB"), ArcelorMittal mandatorily adopted IFRS 10
("Consolidated Financial Statements"), IFRS 11 ("Joint Arrangements"), IFRS 12
("Disclosure  of  Interests  in  Other   Entities"),  IFRS  13  ("Fair   Value 
Measurement"), the  revision of  IAS  19 ("Employee  Benefits") and  IFRIC  20 
("Stripping  Costs  in  the  Production  Phase  of  a  Surface  Mine").   2012 
information has been adjusted  retrospectively for the  adoption of these  new 
standards and  interpretations  except  for  IFRS 13  which  is  applied  only 
prospectively.^[2]

Highlights:

  *Health and safety performance improved in 1Q 2013 with a LTIF rate^[3] of
    0.9x as compared to 1.1x at 4Q 2012
  *EBITDA^[4] of $1.6 billion in 1Q 2013^[5] as compared to $1.6 billion in
    4Q 2012^[6] (which included $0.5 billion of gains from asset disposal and
    CO[2] credit sales)
  *Steel shipments of 20.9 Mt, an increase of 4.7% as compared to 4Q 2012
  *13.1 Mt own iron ore production; 7.3 Mt shipped and reported at market
    prices^[7] vs. 6.8 Mt in 1Q 2012
  *Net debt^[8] decreased by $3.8 billion during 1Q 2013 to $18.0 billion as
    of March 31, 2013 due largely to proceeds from combined offering^14 ($4
    billion) and proceeds from the first tranche of AMMC 15% stake sale ($0.8
    billion), partially offset by working capital investment ($0.5 billion)
  *Liquidity^[9] improved to $18 billion from $14.5 billion at end 4Q 2012;
    average debt maturity of 6.0 years
  *$0.2 billion New Management Gains achieved during 1Q 2013, from
    implementation of the new plan to achieve $3 billion of improvement by the
    end of 2015

Outlook and guidance:

  *The Company reiterates its guidance framework for 2013: Assuming that in
    2013 iron ore prices and the margin of steel prices over raw material
    costs are similar to the levels of 2012, the Company expects to report
    EBITDA above $7.1 billion
  *The anticipated improvement in underlying profitability in 2013 is
    expected to be driven by three factors: a) a 2% increase in steel
    shipments; b) an approximate 20% increase in marketable iron ore
    shipments; and c) the realized benefits from Asset Optimization and
    Management Gains initiatives
  *EBITDA in 2Q 2013 is expected to be above 1Q 2013 levels. Together with an
    anticipated release of working capital and receipt of previously announced
    disposal proceeds, this should support a further reduction in net debt to
    approximately $17 billion by end June 2013
  *2013 capital expenditures are expected to be approximately $3.5 billion

Financial highlights (on the basis of IFRS^1): 

                                                 Quarterly comparison
(USDm) unless otherwise shown            1Q 13 4Q 12^2 3Q 12^2 2Q 12^2 1Q 12^2
Sales                                   19,752  19,309  19,723  22,478  22,703
EBITDA                                   1,565   1,557   1,445   2,559   2,118
Operating income / (loss)                  404 (4,711)      55   1,207     804
Net (loss) / income                      (345) (3,808)   (652)   1,016      92
Basic (loss) / earnings per share (USD) (0.21)  (2.47)  (0.42)    0.66    0.06

Continuing operations
Own iron ore production (Mt)              13.1    14.0    14.3    14.4    13.2
Iron ore shipments at market price (Mt)    7.3     6.6     7.1     8.2     6.8
Crude steel production (Mt)               22.4    20.8    21.9    22.8    22.8
Steel shipments (Mt)                      20.9    20.0    19.9    21.7    22.2
EBITDA/tonne (USD/t) ^[10]                  75      78      73     118      95

Mr. Lakshmi N. Mittal, Chairman and CEO of ArcelorMittal, commented:

"Economic conditions remain  challenging but  our performance  in the  quarter 
reflects the results of  the management action we  have taken to confront  the 
effects of the financial crisis. We  have significantly reduced our net  debt 
and the steps we have taken to focus production on our more competitive assets
are beginning to yield results.

"We continue  to  prioritise  our key  franchise  businesses.  These  include 
automotive, where our market leading high strength steels are highly valued by
our customers; and  mining, where the  ramp up of  ArcelorMittal Mines  Canada 
remains on track for the first half of the year."

first quarter 2013 Earnings ANALYST Conference Call

ArcelorMittal management  will  host a  conference  call for  members  of  the 
investment community to discuss the first quarter 2013 financial performance:

         Date                 New York              London         Luxembourg
 Friday May 10, 2013         9.30am               2.30pm         3.30pm
         
The dial in numbers:
       Location          Toll free dial in       Local dial in    Participant
                              numbers               numbers
      UK local:            0800 169 3059      +44 (0)207 970 0006   642536#
      USA local:          1800 814 6417       +1 215 599 1757     642536#
       France:              0800917772          +33 170707578      642536#
       Germany:             08009646526        +49 6940359700      642536#
        Spain:               900994921          +34 914140992      642536#
     Luxembourg:             80024686           +352 24871048      642536#
        Brazil              0800 8914821        +55 212 7306901     642536#
         
A replay of the conference call will be available for one week by dialing
                              Language            Access code
+49 (0) 1805 2043 089        English               443101#

The conference call will include a brief question and answer session with
senior management. The presentation will be available via a live webcast on
www.arcelormittal.com.

Forward-Looking Statements

This document may contain forward-looking information and statements about
ArcelorMittal and its subsidiaries. These statements include financial
projections and estimates and their underlying assumptions, statements
regarding plans, objectives and expectations with respect to future
operations, products and services, and statements regarding future
performance. Forward-looking statements may be identified by the words
"believe," "expect," "anticipate," "target" or similar expressions. Although
ArcelorMittal's management believes that the expectations reflected in such
forward-looking statements are reasonable, investors and holders of
ArcelorMittal's securities are cautioned that forward-looking information and
statements are subject to numerous risks and uncertainties, many of which are
difficult to predict and generally beyond the control of ArcelorMittal, that
could cause actual results and developments to differ materially and adversely
from those expressed in, or implied or projected by, the forward-looking
information and statements. These risks and uncertainties include those
discussed or identified in the filings with the Luxembourg Stock Market
Authority for the Financial Markets (Commission de Surveillance du Secteur
Financier) and the United States Securities and Exchange Commission (the
"SEC") made or to be made by ArcelorMittal, including ArcelorMittal's Annual
Report on Form 20-F for the year ended December 31, 2012 filed with the SEC.
ArcelorMittal undertakes no obligation to publicly update its forward-looking
statements, whether as a result of new information, future events, or
otherwise.

About ArcelorMittal

ArcelorMittal is the world's leading integrated steel and mining company, with
a presence in more than 60 countries.

ArcelorMittal is  the leader  in  all major  global steel  markets,  including 
automotive, construction, household appliances and packaging, with leading R&D
and technology, as  well as  sizeable captive  supplies of  raw materials  and 
outstanding distribution  networks. With  an industrial  presence in  over  20 
countries spanning four continents,  the Company covers all  of the key  steel 
markets, from emerging to mature.

Through  its   core  values   of  sustainability,   quality  and   leadership, 
ArcelorMittal commits to operating  in a responsible way  with respect to  the 
health,  safety  and  well-being  of   its  employees,  contractors  and   the 
communities in which  it operates.  It is  also committed  to the  sustainable 
management of  the environment.  It takes  a leading  role in  the  industry's 
efforts to  develop  breakthrough  steelmaking technologies  and  is  actively 
researching  and  developing  steel-based  technologies  and  solutions   that 
contribute to combat climate change.

In  2012,  ArcelorMittal  had  revenues  of  $84.2  billion  and  crude  steel 
production of 88.2  million tonnes,  representing approximately  6 percent  of 
world steel output.

ArcelorMittal is listed  on the stock  exchanges of New  York (MT),  Amsterdam 
(MT), Paris  (MT), Luxembourg  (MT)  and on  the  Spanish stock  exchanges  of 
Barcelona, Bilbao, Madrid and Valencia (MTS).

For more information about ArcelorMittal please visit: www.arcelormittal.com.

Enquiries

Contact information ArcelorMittal Investor
Relations
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ArcelorMittal Corporate Communications         E-mail: press@arcelormittal.com
                                                           Tel: +352 4792 5000

Tobin Postma                                             Tel: +44 203 214 2412
Laura Nutt                                               Tel: +44 207 543 1125
France            Image 7: Sylvie Dumaine               Tel: +33 1 53 70 94 17
United Kingdom    Maitland Consultancy:                  Tel: +44 20 7379 5151
                  Martin Leeburn

ARCELORMITTAL first QUARTER 2013 RESULTS

ArcelorMittal, the world's leading integrated steel and mining company, today
announces results for the three month period ended March 31, 2013.

Corporate responsibility and safety performance

Health and safety - Own personnel and contractors lost time injury frequency
rate^3

Health and safety performance, based on own personnel figures and  contractors 
lost time injury frequency rate, improved to 0.9x in the first quarter of 2013
("1Q 2013") as compared to 1.1x for the fourth quarter of 2012 ("4Q 2012") and
1.1x for the  first quarter  of 2012  ("1Q 2012").  In 1Q  2013, all  segments 
contributed to  the  overall  improvement  except  the  mining  segment  which 
reported a deterioration.

Despite this  encouraging performance  in lost  time injury  frequency  (LTIF) 
rate, there is still more work to be done. The Company's effort to improve the
group's Health and Safety record will continue. Whilst the LTIF target of 1.0x
is maintained for 2013, the Company is focused on further reducing the rate of
severe injuries and fatality prevention.

Own personnel and contractors - Frequency Rate
Lost time injury frequency rate                 1Q 13 4Q 12 3Q 12 2Q 12 1Q 12
Total Mines                                       0.8   0.5   0.7   0.5   1.0

Lost time injury frequency rate                 1Q 13 4Q 12 3Q 12 2Q 12 1Q 12
Flat Carbon Americas                              0.6   1.4   0.9   1.1   0.9
Flat Carbon Europe                                1.0   1.2   1.4   1.2   1.5
Long Carbon Americas and Europe                   1.2   1.5   1.2   0.9   1.0
Asia Africa and CIS                               0.4   0.6   0.5   0.3   0.6
Distribution Solutions                            1.2   2.0   1.2   1.2   2.1
Total Steel                                       0.9   1.2   1.0   0.9   1.1

Lost time injury frequency rate                 1Q 13 4Q 12 3Q 12 2Q 12 1Q 12
Total (Steel and Mines)                           0.9   1.1   1.0   0.8   1.1

Key corporate responsibility highlights for 1Q 2013

  *For the sixth consecutive year, ArcelorMittal USA has been awarded the
    2013 ENERGY STAR®by the U.S. Environmental Protection Agency (EPA) for its
    sustained efforts in energy efficiency improvement. Best practice
    applications and targeted investments helped achieve an annual 1.87%
    reduction in energy intensity during 2012.
  *ArcelorMittal Florange, France, launched the world's first production line
    for Usibor® extra-wide sheets up to 1,850mm. Usibor® steel meets in a cost
    effective way the automotive customer requirements to reduce the weight of
    vehicles, thus cutting tailpipe emissions and CO[2] in particular, whilst
    also improving their safety performance in use.
  *ArcelorMittal was presented the gold class award within the steel sector
    in the 2013 RobecoSAM Sustainability Yearbook. This annual assessment
    benchmarks the performance of the world's largest 2,500 companies in
    ethics, the environment and social areas. It is also the basis for the Dow
    Jones Sustainability Index (DJSI).
  *ArcelorMittal University has been granted the Corporate Learning
    Improvement Process (CLIP) accreditation of the European Foundation of
    Management Development (EFMD), in recognition of the high quality of its
    training programs and its contribution to employees' career development.
    Only 16 other international companies' corporate universities have
    achieved the same accreditation. ArcelorMittal University trained 27,000
    employees in 2012.

Analysis of results for 1Q 2013 versus 4Q 2012 and 1Q 2012

ArcelorMittal recorded a net loss for 1Q 2013 of $0.3 billion, or ($0.21) loss
per share, as  compared to a  net loss of  $3.8 billion, or  $(2.47) loss  per 
share for 4Q 2012, and net income of $92 million,or $0.06 earnings per  share, 
for 1Q 2012.

Total steel shipments for 1Q 2013 were 20.9 million metric tonnes as  compared 
with 20.0 million metric tonnes for 4Q 2012 and 22.2 million metric tonnes for
1Q 2012.

Sales for 1Q 2013 increased  by 2.3% to $19.8  billion as compared with  $19.3 
billion for 4Q 2012, and  were 13% lower than the  $22.7 billion for 1Q  2012. 
Sales were higher  during 1Q 2013  as compared  to 4Q 2012  primarily due  to 
higher steel shipment volumes (+4.7%).

Depreciation amounted to $1.2 billion for 1Q 2013, flat as compared to 4Q 2012
and higher than $1.1 billion for 1Q 2012.

Impairment charges for  1Q 2013 were  nil. Impairment charges  for 4Q 2012  of 
$4.8 billion included the  $4.3 billion non-cash write  down of goodwill  with 
respect to  ArcelorMittal's  European  businesses ($2.5  billion  Flat  Carbon 
Europe;  $1.0  billion  Long  Carbon  Europe  and  $0.8  billion  Distribution 
Solutions), and $0.5 billion non-cash asset impairments primarily related  to: 
the intention to permanently close the  coke plant and six finishing lines  in 
Liege, Belgium  ($0.3 billion);  and various  asset impairments  in Spain  and 
North Africa  ($0.2  billion). Impairment  charges  for 1Q  2012  totaled  $69 
million, primarily related to the extended idling of the electric arc  furnace 
and continuous  caster at  the  Schifflange site  in Luxembourg  (Long  Carbon 
Europe).

Restructuring charges for 1Q 2013 were nil. Restructuring charges for 4Q  2012 
totalled  $192   million  and   consisted  of   costs  associated   with   the 
implementation of Asset Optimization primarily impacting various  Distribution 
Solutions entities and to a lesser  extent Flat Carbon Europe and Long  Carbon 
Europe entities. Restructuring charges  for 1Q 2012  totaled $107 million  and 
consisted of costs  associated with the  implementation of Asset  Optimization 
primarily impacting Flat Carbon Europe and Long Carbon Europe operations.

Operating income for 1Q 2013 was  $404 million, as compared with an  operating 
loss of $4.7 billion for 4Q 2012  and operating income of $804 million for  1Q 
2012. Operating result for  1Q 2013 was positively  impacted by a $47  million 
fair valuation gain  relating to  the acquisition of  an additional  ownership 
interest in DJ  Galvanizing in Canada.  The operating result  for 4Q 2012  was 
positively impacted by  a net  gain of $220  million recorded  on the  saleof 
carbon dioxide credits (the proceeds of  which are to be reinvested in  energy 
projects) and gains of $242 million on the divestment of the Paul Wurth stake.
In addition, operating result for 1Q 2013, 4Q 2012 and 1Q 2012 were positively
impacted by $92 million, $141 million and $159 million, respectively,  related 
to "Dynamic Delta Hedge" (DDH) income. The DDH income recorded in 1Q 2013  was 
the final instalment of such income. The  gain on the unwinding of a  currency 
hedge related to raw materials purchases  was initially recorded in equity  in 
4Q 2008, and has now been recorded in the income statement. 

Loss from  equity method  investments and  other  income in  1Q 2013  was  $18 
million, as compared to income  of $138 million in 4Q  2012 and a loss of  $15 
million in 1Q 2012. Losses incurred during 1Q 2013 relate primarily to a  fall 
in income from our Chinese and German investees.

Net interest expense (including interest expense and interest income) remained
flat at $478 million  for 1Q 2013 and  4Q 2012 and higher  as compared to  net 
interest expense of $461 million for 1Q 2012.

Due to exchange rate effects, foreign exchange and other net financing  losses 
were $155 million for  1Q 2013 as  compared to losses of  $409 million for  4Q 
2012 and losses of $407  million for 1Q 2012.  Foreign exchange and other  net 
financing losses were  lower in  1Q 2013  as compared to  4Q 2012  as 1Q  2013 
includes $96  million foreign  exchange gain  as compared  to a  $108  million 
foreign exchange loss in 4Q 2012.

ArcelorMittal recorded an income  tax expense of $97  million for 1Q 2013,  as 
compared to an income  tax benefit of  $1.6 billion for 4Q  2012. The 4Q  2012 
income tax benefit was primarily driven by deferred tax benefits recognized on
impairment-related losses  in  Luxembourg,  partially offset  by  reversal  of 
deferred taxes in Europe and South America. The income tax benefit in 1Q  2012 
was $176 million.

Gains attributable to non-controlling interests for 1Q 2013 was $1 million  as 
compared with losses of $96 million (primarily on account of losses in African
entities) for 4Q 2012 and gains of $5 million for 1Q 2012. 

Capital expenditure projects

The following tables summarize the Company's principal growth and optimization
projects involving significant capital expenditures.

Completed Projects in Most Recent Quarters

Segment     Site           Project         Capacity / particulars     Actual
                                                                    completion
Mining  Andrade Mines Andrade expansion      Increase iron ore       4Q 2012
          (Brazil)                       production to 3.5mt / year
        ArcelorMittal   Replacement of       Increase iron ore
Mining  Mines Canada     spirals for     production by 0.8mt / year  1Q 2013
                          enrichment

Ongoing^(a) Projects

Segment        Site             Project            Capacity /       Forecasted
                                                   particulars      completion
          ArcelorMittal                       Increase concentrator
Mining     Mines Canada    Expansion project  capacity by 8mt/year   1H 2013
                                               (16 to 24mt / year)
                                               Increase production
Mining    Liberia mines    Phase 2 expansion    capacity to 15mt/   2015 ^(b)
                                project          year (iron ore
                                                  concentrate)
                             Early Revenue     Production capacity
Mining      Baffinland           Phase          3.5mt/ year (iron   2015 ^(c)
                                                      ore)
                            Optimization of     Optimize cost and
  FCA     ArcelorMittal     galvanizing and    increase galvalume    On hold
         Dofasco (Canada)      galvalume      production by 0.1mt /
                               operations             year
                                              Increase HDG capacity
  FCA   ArcelorMittal Vega Expansion project   by 0.6mt / year and   On hold
         Do Sul (Brazil)                      CR capacity by 0.7mt
                                                     / year
                                Wire rod      Increase in capacity
  LCA   Monlevade (Brazil)     production     of finished products   On hold
                               expansion        by 1.15mt / year

a) Ongoing projects refer to projects for which construction has begun
(excluding various projects that are under development), or have been placed
on hold pending improved operating conditions.
b) The Company's Board of Directors has approved the Phase 2 expansion of the
Liberia project that would lead to annual concentrate production capacity of
15 million tonnes per annum. The first concentrate production is expected in
2015, replacing the Phase 1 - 4 million tonnes per annum direct-shipped
operation.
c) The Company's Board of Directors have approved the Early Revenue Phase
("ERP") at Baffinland, which requires less capital investment than the full
project as originally proposed. Implementation of the ERP is now underway
with a goal to reach a 3.5MT per annum production rate by 2015.The budget for
the ERP is approximately $700 million and will require the upgrading of the
road that connects the existing port in Milne Inlet to the mine site as well
as modifications to existing permits that are expected to be granted in 2013
and in the first half of 2014.

Analysis of segment operations

Flat Carbon Americas

(USDm) unless otherwise shown       1Q 13 4Q 12^2 3Q 12^2 2Q 12^2 1Q 12^2
Sales                               4,859   4,683   4,840   5,359   5,270
EBITDA                                443     294     326     563     757
Operating income                      200      59      90     332     529

Crude steel production (Kt)         6,197   5,933   5,726   6,014   6,249
Steel shipments (Kt)                5,559   5,533   5,351   5,735   5,672
Average steel selling price (US$/t)   819     797     850     881     886
EBITDA/tonne (US$/t)                   80      53      61      98     133
Operating income /tonne (US$/t)        36      11      17      58      93

Flat Carbon Americas crude steel production  increased by 4.4% to 6.2  million 
tonnes in  1Q 2013,  as compared  to 5.9  million tonnes  in 4Q  2012,  driven 
primarily by higher  production in  North America, partially  offset by  lower 
production in South America.

Steel shipments in 1Q  2013 were 5.6  million tonnes, 0.5%  higher than in  4Q 
2012, primarily driven by higher shipment  volumes in North America driven  by 
improving automotive demand,  offset by  lower exports  of slab  and HRC  from 
South America.

Sales in the Flat  Carbon Americas segment  were $4.9 billion  in 1Q 2013,  an 
increase of 3.8% as compared to $4.7 billion in 4Q 2012. The increase in sales
was due primarily to higher steel selling prices in South America and  Mexico. 


EBITDA in 1Q 2013 increased to $443 million as compared to $294 million in  4Q 
2012. EBITDA  in  1Q  2013 was  positively  impacted  by a  $47  million  fair 
valuation gain relating to the acquisition of an additional ownership interest
in DJ Galvanizing in Canada.

Aside from  this, higher  profitability in  1Q  2013 was  due to  an  improved 
performance from  both South  and North  American operations.  North  American 
performance was driven by higher shipments and South American performance  was 
driven by positive price cost impact more than offsetting the negative  impact 
of lower volumes.  EBITDA in  1Q 2012 of  $757 million  includes the  positive 
impact of changes to the employee  benefit plans at Dofasco which resulted  in 
curtailment gains of $285 million^[11].

Flat Carbon Europe

(USDm) unless otherwise shown       1Q 13 4Q 12^2 3Q 12^2 2Q 12^2 1Q 12^2
Sales                               6,834   6,142   6,108   7,223   7,719
EBITDA                                300     308     191     383     131
Operating loss                       (59) (2,900)   (385)   (152)   (283)

Crude steel production (Kt)         7,279   6,375   6,718   7,143   7,182
Steel shipments (Kt)                6,890   5,957   5,837   6,771   7,461
Average steel selling price (US$/t)   831     847     856     884     861
EBITDA/tonne (US$/t)                   44      52      33      57      18
Operating loss /tonne (US$/t)         (9)   (487)    (66)    (22)    (38)

Flat Carbon Europe crude  steel production increased by  14.2% to 7.3  million 
tonnes in 1Q 2013 as compared to 6.4 million tonnes in 4Q 2012 due to a  stock 
re-build following weak demand in the fourth quarter of 2012. Production in 1Q
2013 improved, benefiting from the restart  of furnaces at Asturias and  blast 
Dunkerque.

Steel shipments in 1Q 2013  were 6.9 million tonnes,  an increase of 15.7%  as 
compared to 6.0  million tonnes in  4Q 2012. Steel  shipments increased in  1Q 
2013 due to a pick up following the seasonally weaker period.

Sales in the Flat Carbon Europe segment  increased to $6.8 billion in 1Q  2013 
as compared to  $6.1 billion in  4Q 2012. Sales  benefitted from higher  steel 
shipment volumes offset in part by  lower steel selling prices following  weak 
iron ore pricing during Q4 2012.

EBITDA in 1Q 2013  was $300 million  as compared to $308  million in 4Q  2012. 
EBITDA in 1Q 2013  included $92 million of  DDH income recognized during  the 
quarter as compared  to $141 million  recognized in 4Q  2012 and $159  million 
recognized in 1Q 2012. EBITDA in 4Q 2012 had also included a $210 million  net 
gain recorded on  the saleof carbon  dioxide credits, the  proceeds of  which 
will be re-invested in energy savings projects. Steel margins were  positively 
impacted in  1Q  2013 by  a  price-cost  impact following  higher  fixed  cost 
absorption and improved  cost performance  partially offset  by lower  selling 
prices.

The operating result  in 4Q 2012  had included a  $2.5 billion non-cash  write 
down of goodwill and  $0.3 billion non-cash impairment  charge related to  the 
intention to  permanently close  the coke  plant and  six finishing  lines  in 
Liege, Belgium. Operating performance in 1Q 2012 had been negatively  impacted 
by restructuring costs  totalling $56 million  associated with the  separation 
schemes primarily relating to Polish entities as part of the implementation of
Asset Optimization.

Long Carbon Americas and Europe

(USDm) unless otherwise shown          1Q 13 4Q 12^2 3Q 12^2 2Q 12^2 1Q 12^2
Sales                                  5,103   5,232   5,189   5,698   5,763
EBITDA                                   419     422     340     575     448
Operating income / (loss)                185 (1,092)     113     344     121

Crude steel production (Kt)            5,722   5,240   5,713   5,885   5,785
Steel shipments (Kt)                   5,394   5,543   5,508   5,839   5,738
Average steel selling price (US$/t)      858     857     861     885     910
EBITDA/tonne (US$/t)                      78      76      62      98      78
Operating income (loss) /tonne (US$/t)    34   (197)      21      59      21

Long Carbon Americas and Europe crude steel production amounted to 5.7 million
tonnes in 1Q 2013, an increase of 9.2% as compared to 5.2 million tonnes in 4Q
2012. Production  was  higher in  the  Americas  (both North  and  South)  and 
European operations due to  a stock rebuild following  weak demand in 4Q  2012 
and in anticipation of a stronger second quarter of 2013, as well as  recovery 
from operational issues that had impacted  output in Poland during the  fourth 
quarter.

Steel shipments in  1Q 2013 were  5.4 million  tonnes, a decrease  of 2.7%  as 
compared to 5.5 million tonnes in 4Q  2012, primarily due to lower volumes  in 
Europe, Mexico and Tubular products.

Sales in  the Long  Carbon Americas  and  Europe segment  were lower  at  $5.1 
billion in 1Q  2013, as compared  to $5.2 billion  in 4Q 2012.  The impact  of 
prices was  neutral as  higher average  steel selling  prices across  all  key 
markets were offset by reduced prices in the Tubular business.

EBITDA in  1Q 2013  was $419  million, essentially  flat as  compared to  $422 
million in  4Q 2012,  primarily driven  by improved  profitability in  Europe, 
North America and South American markets offset by lower profitability in  the 
Tubular business impacted by  lower volumes and  selling prices following  the 
Venezuelan currency devaluation. 

Operating results in 4Q 2012 had included a non-cash write down of goodwill of
$1.0 billion (Long Carbon  Europe) and non-cash  asset impairment charges  for 
Spanish and North African operations of $0.2 billion. Operating performance in
1Q 2012 was negatively impacted  by restructuring costs totalling $46  million 
associated with the implementation  of Asset Optimization, primarily  relating 
to Spanish entities  and impairment charges  totalling $61 million  associated 
with the extended idling of the electric arc furnace and continuous caster  at 
the Schifflange site in Luxembourg.

Asia Africa and CIS ("AACIS")

(USDm) unless otherwise shown          1Q 13 4Q 12^2 3Q 12^2 2Q 12^2 1Q 12^2
Sales                                  2,129   2,130   2,457   2,677   2,787
EBITDA                                    19     222      72     122     163
Operating income / (loss)              (117)      36    (84)    (36)       5

Crude steel production (Kt)            3,245   3,241   3,721   3,691   3,615
Steel shipments (Kt)                   3,104   2,978   3,178   3,321   3,353
Average steel selling price (US$/t)      620     611     658     687     705
EBITDA/tonne (US$/t)                       6      75      23      37      49
Operating income (loss) /tonne (US$/t)  (38)      12    (26)    (11)       1

AACIS segment crude steel production was  3.2 million tonnes in 1Q 2013,  flat 
as compared to 4Q  2012. Production increased  during 1Q 2013  due in part  to 
improved production in  Kazakhstan (post  Q4 2012  operational issues).  South 
African production remained flat as both 1Q 2013 and 4Q 2012 were impacted  by 
operational issues (1Q 2013 fire at  Vanderbijlpark ("VDP") plant and 4Q  2012 
interim repair of blast  furnace in Vanderbijlpark and  the taphole repair  of 
blast furnace in Newcastle).

Steel shipments in 1Q 2013 amounted to 3.1 million tonnes, an increase of 4.2%
as compared to 3.0 million tonnes  in 4Q 2012, reflecting seasonally  improved 
market conditions in the South African market.

Sales in the AACIS segment were $2.1  billion in 1Q 2013, flat compared to  4Q 
2012. Sales were positively impacted by higher average steel selling prices in
South Africa and Kazakhstan  (+1.5% overall) in 1Q  2013, offset by the  sales 
lost following the disposal of Paul Wurth in 4Q 2012.

EBITDA in 1Q 2013  was $19 million,  as compared to $222  million in 4Q  2012. 
EBITDA in 4Q 2012 had included the $242 million gain from the Paul Wurth asset
divestment. Excluding this  gain, profitability slightly  improved during  the 
quarter due  to positive  price-cost effect  and higher  volumes primarily  in 
South Africa despite approximately $67 million loss of EBITDA due to the  fire 
disruption at VDP.

Distribution Solutions

(USDm) unless otherwise shown       1Q 13 4Q 12^2 3Q 12^2 2Q 12^2 1Q 12^2
Sales                               3,553   3,855   3,716   4,292   4,431
EBITDA / (EBITDA loss)                 15    (24)      11     385      35
Operating income / (loss)            (16)   (977)    (32)     331    (10)

Steel shipments (Kt)                4,063   4,463   4,118   4,523   4,589
Average steel selling price (US$/t)   851     834     869     920     919

Shipments in the Distribution  Solutions segment in 1Q  2013 were 4.1  million 
tonnes, a decrease  of 9.0%  as compared  to 4.5  million tonnes  in 4Q  2012, 
primarily due to lower exports.

Sales in the Distribution  Solutions segment in 1Q  2013 were $3.6 billion,  a 
decrease of 7.8%  as compared to  $3.9 billion  in 4Q 2012,  due primarily  to 
lower steel shipment volumes  offset in part by  higher average steel  selling 
prices (+2.0%) primarily driven by foreign exchange.

EBITDA in 1Q 2013 was $15 million as compared to an EBITDA loss of $24 million
in 4Q 2012, primarily due to a positive price-cost impact in Europe.

The operating  result in  4Q 2012  had been  impacted by  non-cash  impairment 
expenses of $0.8  billion due to  a write down  of goodwill and  restructuring 
charges of $0.1 billion related to Asset Optimization.

Mining

(USDm) unless otherwise shown            1Q 13 4Q 12^2 3Q 12^2 2Q 12^2 1Q 12^2
Sales^[12]                               1,199   1,279   1,314   1,602   1,298
EBITDA                                     433     327     396     548     484
Operating income                           286     186     255     414     354

Own iron ore production ^(a) (Mt)         13.1    14.0    14.3    14.4    13.2
Iron ore shipped externally and
internally and reported at market price   7.3     6.6     7.1     8.2     6.8
^(b) (Mt)

Own coal production^(a) (Mt)               2.0     2.0     2.0     2.1     2.1
Coal shipped externally and internally    1.3     1.3     1.2     1.4     1.2
and reported at market price^(b) (Mt)

(a) Own  iron  ore and  coal  production not  including  strategic  long-term 
contracts
(b) Iron ore and coal shipments of market-priced based materials include  the 
Company's own  mines, and  share of  production at  other mines,  and  exclude 
supplies under strategic long-term contracts

Own iron  ore production  (not including  supplies under  strategic  long-term 
contracts) in 1Q 2013 was 13.1 million metric tonnes, 6.2% lower than 4Q 2012,
primarily due  to operational  issues in  Canada offset  in part  by  improved 
production in Liberia.

Shipments at market price  increased 9.8% in  1Q 2013 as  compared to 4Q  2012 
primarily due to improved shipments in Liberia on account of comparatively dry
weather and installation of offshore trans-shipment facility to load cape size
vessels offset  in part  by  lower shipments  from  Canada due  to  production 
constraints and freezing  lake constraints.  Shipments at market  price in  1Q 
2013 increased  6.9%  as  compared  to 1Q  2012  primarily  due  to  increased 
shipments from Liberia.

Own  coal  production  (not  including  supplies  under  strategic   long-term 
contracts) in 1Q 2013 was higher at 2.0 million metric tonnes, representing an
increase of 3.3% as compared to 4Q 2012 although a decline of 3.5% as compared
to 2.1 million metric tonnes in 1Q 2012.

EBITDA attributable to the Mining segment for 1Q 2013 was $433 million,  32.4% 
higher as compared  to 4Q 2012.  This increase was  primarily due to  improved 
seaborne iron  ore  market prices  and  higher marketable  iron  ore  shipment 
volumes as discussed above,  offset by a negative  mix effect from volumes  of 
our higher  margin  Canadian  operations.EBITDA attributable  to  the  Mining 
segment was $484 million in 1Q 2012.

Liquidity and Capital Resources

For 1Q 2013, net cash used by operating activities was $302 million, compared
to net cash provided by operating activities of $2.9 billion in 4Q 2012. Cash
used by operating activities in 1Q 2013 included a $0.5 billion investment in
operating working capital (due to pickup in operations ahead of a seasonally
strong second quarter) as compared to a release in working capital of $2.0
billion in 4Q 2012. Rotation days^[13] remained flat during 1Q 2013 at 64 days
as compared to 4Q 2012.

Net cash used  in investing  activities during 1Q  2013 was  $803 million,  as 
compared to $862 million  in 4Q 2012. Capital  expenditures decreased to  $927 
million in 1Q  2013 as compared  to $1.1 billion  in 4Q 2012.  The Company  is 
focusing only on core growth capital expenditures in its mining business given
attractive return profiles of projects under construction. Some planned  steel 
investments remain suspended. Other  investing activities in  1Q 2013 of  $124 
million primarily include  $139 million  from the reduction  in the  Company's 
stake in the Baffinland venture. Other investing activities in 4Q 2012 of $267
million included $0.3 billion inflow from the recovery of subsidiary financing
offset by a net outflow of $89 million ($70 million net debt impact (increase)
net of  liabilities)  on the  Paul  Wurth divestment  (representing  the  cash 
consideration received from the purchaser less the cash held by Paul Wurth). 

Net cash provided  by financing activities  for 1Q 2013  was $4.7 billion,  as 
compared to cash used by financing activities of $923 million in 4Q 2012.  Net 
cash provided  by financing  activities for  1Q 2013  primarily included  cash 
proceeds from the  combined offering^[14] of  ordinary shares and  mandatorily 
convertible subordinated notes totalling  approximately $4.0 billion, as  well 
as $810  million in  cash received  related to  the first  installment of  the 
previously announced investment by a consortium  led by POSCO and China  Steel 
Corporation (CSC)  to  acquire a  joint  venture interest  in  ArcelorMittal's 
Labrador Trough iron ore mining  and infrastructure assets in Quebec,  Canada. 
The second installment  of the  investment by the  consortium ($290  million), 
which will increase the consortium's interest in the joint venture from 11% to
15%, remains subject to customary conditions, but is expected to be  completed 
in the second quarter of 2013.

As communicated earlier, given the challenging global economic conditions and
the Company's priority to deleverage, ArcelorMittal's Board of Directors has
agreed to reduce the annual dividend payment to $0.20/share for 2013 (from
$0.75/share in 2012), to be paid on July 15, 2013. Once the deleveraging plan
is complete and market conditions improve, the Board intends to progressively
increase the dividend. During 1Q 2013, the Company paid dividends of $34
million including $28 million for the perpetual bond as compared to $306
million in 4Q 2012 and $294 million in 1Q 2012.

At March 31, 2013, the Company's cash and cash equivalents (including
restricted cash and short-term investments) amounted to $8.0 billion as
compared to $4.5 billion at December 31, 2012. As of March 31, 2013, net debt
was $18 billion, as compared with $21.8 billion at December 31, 2012.

The Company had liquidity9 of $18 billion at March 31, 2013, an increase of
$3.5 billion as compared with liquidity of $14.5 billion at December 31, 2012,
consisting of cash and cash equivalents (including restricted cash and
short-term investments) of $8 billion and $10 billion of available credit
lines. At March 31, 2013, the average debt maturity was 6.0 years.

New 3-year $3 billion management gains program

During the investor day held  on March 15, 2013,  the Company announced a  new 
management gains improvement  target of  $3 billion by  the end  of 2015.  The 
program is expected to yield approximately $1 billion of savings over each  of 
the next 3 years. Action plans and  detailed targets have been set and  rolled 
out to the various business units and progress will be monitored and  reported 
upon in future quarters. By March  31, 2013, $0.2 billion of improvements  had 
been achieved on a run rate basis.

Asset Optimization

The essential  components  of  Asset Optimization  have  been  announced.  The 
Company confirms that the asset optimization introduced in 4Q 2011 is expected
to deliver annualized savings of $1  billion, the full impact of which  should 
be seen in 2014.

Recent developments

  *On March 15, 2013 ArcelorMittal announced the completion of the first
    instalment of the previously announced investment by a consortium led by
    POSCO and China Steel Corporation (CSC) to acquire an interest in
    ArcelorMittal's Labrador Trough iron ore mining and infrastructure assets
    in Quebec, Canada. The consortium acquired an 11.05% interest in the
    joint venture for total consideration of $810 million in cash, with
    ArcelorMittal's wholly owned subsidiary ArcelorMittal Mines Canada
    retaining an 88.95% interest in the joint venture. As part of its strategy
    to build strategic relationships with key customers, the joint venture has
    also entered into long-term iron ore off-take agreements with POSCO and
    CSC proportionate to the consortium's joint venture interests. The second
    instalment of the investment by the consortium ($290 million), which will
    increase the consortium's interest in the joint venture to 15%, remains
    subject to customary conditions and is expected to close in the second
    quarter of 2013.

  *In April 2013, ArcelorMittal Atlantique and Lorraine announced the end of
    its information and consultation period within the Company's and Local
    Works Councils,relating to the ArcelorMittal Atlantique and Lorraine's
    industrial and commercial project. Hence the mothballing of Florange's
    liquid phase and the implementation of the wider industrial and commercial
    project, as well as social negotiations, can begin. The mothballing of
    Florange's liquid phase is scheduled to be completed by the end of June
    2013. As part of its commitment, ArcelorMittal has launched a €180
    million investment programme for the Florange plant. This investment has
    already begun, with €55 million invested to ensure the viability of the
    coke plant and sustain the development plan for high width Usibor®.
    Florange is now the only plant in the world capable of producing high
    width Usibor® Alusi®, giving the site a greater advantage within the
    automotive market.

Outlook and guidance

The Company reiterates its guidance framework for 2013: Assuming that in  2013 
iron ore prices and  the margin of  steel prices over  raw material costs  are 
similar to the levels of 2012, the Company expects to report EBITDA above $7.1
billion. The anticipated improvement  in underlying profitability is  expected 
to be  driven by  3  factors: a)  a  2% increase  in  steel shipments;  b)  an 
approximate 20%  increase  in  marketable  iron ore  shipments,  and;  c)  the 
realized benefits from Asset Optimization and Management Gains initiatives.

EBITDA in the second quarter of 2013  is expected to be above 1Q 2013  levels. 
Together with  an  anticipated  release  of working  capital  and  receipt  of 
previously  announced  disposal  proceeds,  this  should  support  a   further 
reduction in net debt to approximately $17 billion by end June 2013.

During 2013,  the  Company expects  to  spend approximately  $3.5  billion  on 
capital expenditures, of which $2.7 billion is non-growth related.

ARCELORMITTAL CONDENSED CONSOLIDATED STATEMENTs OF FINANCIAL POSITION

In millions of U.S. dollars                 March 31, December 31, March 31,
                                              2013       2012^2     2012^2
ASSETS
Cash and cash equivalents including              7,977        4,540      4,937
restricted cash
Trade accounts receivable and other              6,130        5,085      7,939
Inventories                                     18,389       19,003     21,178
Prepaid expenses and other current assets        3,319        3,154      3,535
Assets held for sale                                 -            -        437
Total Current Assets                            35,815       31,782     38,026

Goodwill and intangible assets                   9,365        9,581     14,205
Property, plant and equipment                   52,507       53,989     55,138
Investments in affiliates and joint              6,923        7,181      7,152
ventures
Deferred tax assets                              7,994        8,221      6,722
Other assets                                     3,163        3,244      3,397
Total Assets                                   115,767      113,998    124,640

LIABILITIES AND SHAREHOLDERS' EQUITY
Short-term debt and current portion of          $4,234       $4,348     $2,981
long-term debt
Trade accounts payable and other                11,558       11,407     12,875
Accrued expenses and other current               7,416        8,082      8,298
liabilities
Total Current Liabilities                       23,208       23,837     24,154

Long-term debt, net of current portion          21,745       21,965     25,523
Deferred tax liabilities                         2,896        2,958      3,470
Other long-term liabilities                     14,963       14,772     14,105
Total Liabilities                               62,812       63,532     67,252

Equity attributable to the equity holders       49,522       47,016     53,533
of the parent
Non-controlling interests                        3,433        3,450      3,855
Total Equity                                    52,955       50,466     57,388
Total Liabilities and Shareholders' Equity     115,767      113,998    124,640


ARCELORMITTAL CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

In millions of U.S. dollars                 Three months ended
                               March 31, December September June 30, March 31,
                                              31,       30,
                                2013   2012^2    2012^2   2012^2    2012^2
Sales                             19,752   19,309    19,723   22,478    22,703
Depreciation                     (1,161)  (1,240)   (1,162)  (1,162)   (1,138)
Impairment                             -  (4,836)     (130)        -      (69)
Restructuring charges                  -    (192)      (98)    (190)     (107)
Operating income / (loss)            404  (4,711)        55    1,207       804
Operating margin %                  2.0%  (24.4%)      0.3%     5.4%      3.5%

Income / (loss) from equity
method investments and other        (18)      138      (56)      118      (15)
income
Net interest expense               (478)    (478)     (479)    (456)     (461)
Foreign exchange and other net     (155)    (409)     (148)     (77)     (407)
financing (losses)
Income (loss) before taxes and     (247)  (5,460)     (628)      792      (79)
non-controlling interests
Current tax                         (61)     (94)     (101)    (171)     (136)
Deferred tax                        (36)    1,650        57      389       312
Income tax benefit / (expense)      (97)    1,556      (44)      218       176
Income / (loss) from
continuing operations              (344)  (3,904)     (672)    1,010        97
including non-controlling
interest
Non-controlling interests            (1)       96        20        6       (5)
Net income / (loss) from           (345)  (3,808)     (652)    1,016        92
continuing operations

Basic earnings / (loss) per       (0.21)   (2.47)    (0.42)     0.66      0.06
common share ($)
Diluted earnings / (loss) per     (0.21)   (2.47)    (0.42)     0.60      0.06
common share ($)

Weighted average common shares     1,750    1,549     1,549    1,549     1,549
outstanding (in millions)
Adjusted diluted weighted
average common shares              1,751    1,549     1,549    1,638     1,549
outstanding (in millions)

EBITDA4                            1,565    1,557     1,445    2,559     2,118
EBITDA margin %                     7.9%     8.1%      7.3%    11.4%      9.3%

OTHER INFORMATION
Total iron ore production^[15]      15.4     16.9      17.8     18.4      15.0
(million metric tonnes)
Crude steel production              22.4     20.8      21.9     22.8      22.8
(million metric tonnes)
Total shipments of steel
products^[16] (million metric      20.9     20.0      19.9     21.7      22.2
tonnes)

Employees (in thousands)             243      246       252      256       259

ARCELORMITTAL CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

In millions of U.S.                      Three months ended
dollars
                       March 31, December 31, September 30, June 30, March 31,
                            2013       2012^2        2012^2   2012^2    2012^2
Operating activities:
Income / (loss) from       (345)      (3,808)         (652)    1,016        92
continuing operations
Adjustments to
reconcile income /
(loss) to net cash
provided by
operations:
Non-controlling                1         (96)          (20)      (6)         5
interests
Depreciation and           1,161        6,076         1,292    1,162     1,207
impairment
Restructuring charges          -          192            98      190       107
Deferred income tax           36      (1,650)          (57)    (389)     (312)
Change in operating        (549)        2,044         (307)    1,381     (289)
working capital^[17]
Other operating            (606)          134         (685)  (1,086)     (298)
activities (net)
Net cash (used in)
provided by operating      (302)        2,892         (331)    2,268       512
activities
Investing activities:
Purchase of property,
plant and equipment        (927)      (1,129)       (1,217)  (1,117)   (1,254)
and intangibles
Other investing              124          267           144      301       275
activities (net)
Net cash used in           (803)        (862)       (1,073)    (816)     (979)
investing activities
Financing activities:
Proceeds (payments)
relating to payable to      (21)        (549)          (80)  (1,416)     1,733
banks and long-term
debt
Dividends paid              (34)        (306)         (297)    (294)     (294)
Combined capital           3,978          -            -       -        - 
offering
Proceeds from
subordinated perpetual       -           -            642      -        - 
securities
Disposal /
(Acquisition)of              810         (52)             -     (10)         -
non-controlling
interest
Other financing             (40)         (16)          (22)     (24)      (34)
activities (net)  
Net cash (used in)
provided by financing      4,693        (923)           243  (1,744)     1,405
activities
Net increase
(decrease) in cash and     3,588        1,107       (1,161)    (292)       938
cash equivalents
Cash and cash
equivalents                    -          441         (441)        -         -
transferred to / from
assets held for sale
Effect of exchange         (146)           33            33    (169)        90
rate changes on cash
Change in cash and        $3,442       $1,581      $(1,569)   $(461)    $1,028
cash equivalents

Appendix 1a: Key financial and operational information - First quarter of 2013

                                             Long
USDm unless otherwise        Flat    Flat   Carbon         Distribution
shown                       Carbon  Carbon Americas AACIS   Solutions   Mining
                           Americas Europe   and
                                            Europe
FINANCIAL INFORMATION

Sales                         4,859  6,834    5,103  2,129        3,553  1,199
Depreciation                  (243)  (359)    (234)  (136)         (31)  (147)
Operating income / (loss)       200   (59)      185  (117)         (16)    286
Operating margin (as a %       4.1% (0.9%)     3.6% (5.5%)       (0.5%)  23.9%
of sales)

EBITDA4                         443    300      419     19           15    433
EBITDA margin (as a % of       9.1%   4.4%     8.2%   0.9%         0.4%  36.1%
sales)
Capital expenditure^[18]         85    208      140     88           12    389

OPERATIONAL INFORMATION
Crude steel production        6,197  7,279    5,722  3,245            -      -
(Thousand MT)
Steel shipments (Thousand     5,559  6,890    5,394  3,104        4,063      -
MT)
Average steel selling           819    831      858    620          851      -
price ($/MT)^[19]

MINING INFORMATION
(Million Mt)
Iron ore production^15            -      -        -      -            -   15.4
Coal production^15                -      -        -      -            -    2.2
Iron ore shipped
externally and internally        -      -        -      -            -    7.3
and reported at market
price^7
Iron ore shipped
internally and reported at        -      -        -      -            -    4.8
cost-plus^7
Coal shipped externally
and internally                    -      -        -      -            -    1.3
and reported at market
price^7
Coal shipped internally
and reported at                   -      -        -      -            -    0.7
cost-plus^7

Note: Table excludes others and eliminations.

Appendix 1b: Key financial and operational information - First quarter of
2012^2

                                              Long
                              Flat    Flat   Carbon        Distribution
USDm unless otherwise shown  Carbon  Carbon Americas AACIS  Solutions   Mining
                            Americas Europe   and
                                             Europe
FINANCIAL INFORMATION

Sales                          5,270  7,719    5,763 2,787        4,431  1,298
Depreciation                   (228)  (358)    (220) (150)         (40)  (130)
Impairment                         -      -     (61)   (8)            -      -
Restructuring charges              -   (56)     (46)     -          (5)      -
Operating income / (loss)        529  (283)      121     5         (10)    354
Operating margin (as a % of    10.0% (3.7%)     2.1%  0.2%       (0.2%)  27.3%
sales)

EBITDA4                          757    131      448   163           35    484
EBITDA margin (as a % of       14.4%   1.7%     7.8%  5.8%         0.8%  37.3%
sales)
Capital expenditure^18           212    261      229   141           25    379

OPERATIONAL INFORMATION
Crude steel production         6,249  7,182    5,785 3,615            -      -
(Thousand MT)
Steel shipments (Thousand      5,672  7,461    5,738 3,353        4,589      -
MT)
Average steel selling price      886    861      910   705          919      -
($/MT) 19

MINING INFORMATION (Million
Mt)
Iron ore production^15             -      -        -     -            -   15.0
Coal production^15                 -      -        -     -            -    2.3
Iron ore shipped externally
and internally and                -      -        -     -            -    6.8
reported at market price^7
Iron ore shipped internally        -      -        -     -            -    4.8
and reported at cost-plus^7
Coal shipped externally and
internally and reported at         -      -        -     -            -    1.2
market price^7
Coal shipped internally and        -      -        -     -            -    0.8
reported at cost-plus^7

Note: Table excludes others and eliminations.

Appendix 1c: Key financial and operational information - Fourth quarter of
2012^2

                                              Long
USDm unless otherwise        Flat    Flat    Carbon        Distribution
shown                       Carbon  Carbon  Americas AACIS  Solutions   Mining
                           Americas Europe    and
                                             Europe
FINANCIAL INFORMATION

Sales                         4,683   6,142    5,232 2,130        3,855  1,279
Depreciation                  (235)   (364)    (244) (186)         (46)  (141)
Impairment                        - (2,811)  (1,219)     -        (806)      -
Restructuring charges             -    (33)     (51)     -        (101)      -
Operating income / (loss)        59 (2,900)  (1,092)    36        (977)    186
Operating margin (as a %       1.3% (47.2%)  (20.9%)  1.7%      (25.3%)  14.5%
of sales)

EBITDA4                         294     308      422   222         (24)    327
EBITDA margin (as a % of       6.3%    5.0%     8.1% 10.4%      (0.6%)  25.6%
sales)
Capital expenditure^18          106     150      200   106           13    532

OPERATIONAL INFORMATION
Crude steel production        5,933   6,375    5,240 3,241            -      -
(Thousand MT)
Steel shipments (Thousand     5,533   5,957    5,543 2,978        4,463      -
MT)
Average steel selling           797     847      857   611          834      -
price ($/MT) 19

MINING INFORMATION
(Million Mt)
Iron ore production^15            -       -        -     -            -   16.9
Coal production^15                -       -        -     -            -    2.2
Iron ore shipped
externally and internally        -       -        -     -            -    6.6
and reported at market
price^7
Iron ore shipped
internally and reported at        -       -        -     -            -    6.8
cost-plus^7
Coal shipped externally
and internally and                -       -        -     -            -    1.3
reported at market price^7
Coal shipped internally
and reported at                   -       -        -     -            -    0.8
cost-plus^7

Note: Table excludes others and eliminations.

Appendix 2a: Steel Shipments by geographical location^[20] 

(Amounts in thousands metric tonnes) 1Q 13 4Q 12 3Q 12 2Q 12 1Q 12
Flat Carbon Americas:                5,559 5,533 5,351 5,735 5,672
North America                        4,519 4,347 4,530 4,615 4,538
South America                        1,040 1,186   821 1,120 1,134

Flat Carbon Europe:                  6,890 5,957 5,837 6,771 7,461

Long Carbon Americas and Europe:     5,394 5,543 5,508 5,839 5,738
North America                        1,124 1,193 1,031 1,208 1,146
South America                        1,366 1,279 1,403 1,338 1,280
Europe                               2,695 2,786 2,828 3,023 3,056
Other^[21]                             209   285   246   270   256

AACIS:                               3,104 2,978 3,178 3,321 3,353
Africa                               1,073   973 1,075 1,227 1,267
Asia, CIS & Other                    2,031 2,005 2,103 2,094 2,086

Appendix 2b: Steel EBITDA by geographical location

Amounts in USDm                  1Q 13 4Q 12^2 3Q 12^2 2Q 12^2 1Q 12^2
Flat Carbon Americas:              443     294     326     563     757
North America                      324     241     350     530     640
South America                      119      53    (24)      33     117

Flat Carbon Europe:                300     308     191     383     131

Long Carbon Americas and Europe:   419     422     340     575     448
North America                       52      47      21      60      62
South America                      241     217     208     257     235
Europe                             102      74      35     148      97
Other21                             24      84      76     110      54

AACIS:                              19     222      72     122     163
Africa                              20    (19)      27      24     100
Asia, CIS & Other                  (1)     241      45      98      63

Distribution Solutions:             15    (24)      11     385      35

Appendix 2c: Iron ore production (Million metric tonnes)

Million
metric
tonnes ^(a)          Type                Product 1Q 13 4Q 12 3Q 12 2Q 12 1Q 12
North            Open Pit     Concentrate, lump,   6.8   7.6   7.7   7.8   7.2
America ^(b)                   fines and Pellets
South            Open pit         Lump and fines   0.9   1.2   1.2   0.9   0.8
America
Europe           Open pit   Concentrateandlump  0.5   0.5   0.6   0.5   0.4
Africa         Open Pit /                  Fines   1.3   1.0   1.1   1.3   1.3
              Underground
Asia, CIS &    Open Pit /     Concentrate, lump,   3.7   3.7   3.7   3.8   3.5
Other         Underground  fines and sinter feed
Own iron ore                                      13.1  14.0  14.3  14.4  13.2
production
North
America ^        Open Pit                Pellets   1.1   2.1   2.4   2.7   0.5
(c)
Africa ^(d)      Open Pit         Lump and Fines   1.3   0.8   1.2   1.4   1.3
Strategic
contracts -                                        2.3   2.9   3.6   4.0   1.8
iron ore
Group                                             15.4  16.9  17.8  18.4  15.0

(a) Total of all finished production of fines, concentrate, pellets and lumps.
(b) Includes own mines and share of production from Hibbing (USA-62.30%) and
Pena (Mexico-50%).
(c) Consists of a long-term supply contract with Cleveland Cliffs for
purchases made at a previously set price, adjusted for changes in certain
steel prices and inflation factors.
(d) Includes purchases under a strategic agreement with Sishen/Thabazambi
(South Africa). Prices for purchases under the July 2010 interim agreement
with Kumba (as extended and amended several times) have been on a fixed-cost
basis since March 1, 2010. 

Appendix 2d: Iron ore shipments (Million metric tonnes)

Million metric tonnes            1Q 13     4Q 12     3Q 12     2Q 12     1Q 12
External sales - Third party                         
                                2.1    2.5    2.4    3.0    2.5

Internal sales -                   5.2       4.1       4.8       5.2       4.3
Market-priced

Internal sales - Cost-plus         4.8       6.8       6.9       7.0       4.8
basis
Flat Carbon Americas               0.5       2.5       2.3       2.5       0.6
Long Carbon Americas and           1.1      1.1       1.3       1.3       1.2
Europe
AACIS                              3.2       3.2       3.3       3.1       3.0

Total shipments                   12.1      13.4      14.0      15.2      11.7

Strategic contracts                2.3       2.9       3.6       4.0       1.8
Flat Carbon Americas               1.1       2.1       2.4       2.7       0.5
AACIS                              1.3       0.8       1.2       1.4       1.3

Total shipments including         14.5      16.4      17.6      19.2      13.5
strategic contracts

Appendix 2e: Coal production (Million metric tonnes)

Million metric tonnes         1Q 13 4Q 12 3Q 12 2Q 12 1Q 12
North America                  0.70  0.59  0.60  0.61  0.64
Asia, CIS & Other              1.34  1.39  1.44  1.46  1.47
Own coal production            2.04  1.97  2.05  2.07  2.11
North America^(a)              0.08  0.13  0.08  0.07  0.08
Africa^(b)                     0.06  0.09  0.10  0.09  0.07
Strategic contracts - coal    0.14  0.22  0.19  0.16  0.15
Group                          2.18  2.19  2.24  2.24  2.26

(a) Includes strategic agreement - prices on a fixed-price basis
(b) Includes long term lease - prices on a cost-plus basis

Appendix 2f: Coal shipment (Million metric tonnes)

Million metric tonnes                         1Q 13 4Q 12 3Q 12 2Q 12 1Q 12
External sales - Third party                   0.92  0.93  0.69  0.86  0.86
Internal sales - Market-priced                 0.35  0.38  0.54  0.50  0.37
Internal sales (AACIS) - Cost-plus basis       0.72  0.78  0.82  0.73  0.80
Total shipments                                1.99  2.09  2.04  2.08  2.03
Strategic contracts                            0.14  0.22  0.19  0.16  0.15
Total shipments including strategic contracts  2.13  2.30  2.23  2.25  2.18

Appendix 3: Debt repayment schedule as of March 31, 2013

Debt repayment schedule (USD billion) 2013 2014 2015 2016 2017 >2017 Total
Term loan repayments
- Convertible bonds                      -  2.2    -   -    -     -   2.2
- Bonds                                3.1  1.3  2.3  1.8  2.7   9.6  20.8
Subtotal                               3.1  3.5  2.3  1.8  2.7   9.6  23.0
LT revolving credit lines
- $6bn syndicated credit facility        -    -    -    -    -     -     -
- $4bn syndicated credit facility        -    -    -    -    -     -     -
Commercial paper^[22]                  0.1    -    -    -    -     -   0.1
Other loans                            0.9  0.3  0.3  0.7  0.2   0.5   2.9
Total Gross Debt                       4.1  3.8  2.6  2.5  2.9  10.1  26.0

Appendix 4: Credit lines available as of March 31, 2013

Credit lines available (USD billion)      Maturity Commitment Drawn Available
- $6bn syndicated credit facility       18/03/2016       $6.0  $0.0      $6.0
- $4bn syndicated credit facility       06/05/2015       $4.0  $0.0      $4.0
Total committed lines                                   $10.0  $0.0     $10.0

Appendix 5: Other ratios 

Ratios                                                           1Q 13 4Q 12^2
Gearing^[23]                                                       34%     43%
Net debt /EBITDA ratio based on last twelve months' reported
EBITDA^2                                                          2.5X    2.8X

Appendix 6: Earnings per share

USD                                     Three months ended
                  March 31, December 31, September 30, June 30, March 31,
Earnings / (loss) per       2013       2012^2        2012^2   2012^2    2012^2
share
Basic (loss) /
earnings per common       (0.21)       (2.47)        (0.42)     0.66      0.06
share
Diluted (loss) /          (0.21)       (2.47)        (0.42)     0.60      0.06
earnings per common
share

Appendix 7: EBITDA Bridge from 4Q 2012 to 1Q 2013

                 Volume                                     Non
USD      EBITDA    &     Volume &   Price-cost  Price-cost -Steel Other EBITDA
millions 4Q 12^2 Mix -     Mix -    - Steel (b)     -      EBITDA  (d)  1Q 13
                 Steel  Mining (a)              Mining (b)  (c)
                  (a)
Group     1,557   184      (20)         161        126       4    (447) 1,565

a) The volume variance indicates the  sales value gain/loss through selling  a 
higher/lower volume  compared to  the reference  period, valued  at  reference 
period contribution (selling price-variable cost). The mix variance  indicates 
sales value gain/loss through selling  different proportions of mix  (product, 
choice, customer, market including domestic/export), compared to the reference
period contribution. 
b) The price-cost  variance is  a combination of  the selling  price and  cost 
variance. The  selling  price variance  indicates  the sales  value  gain/loss 
through selling at a higher/lower price compared to the reference period after
adjustment for mix,  valued with  the current  period volumes  sold. The  cost 
variance indicates  increase/decrease  in  cost  (after  adjustment  for  mix, 
one-time items, non-steel cost  and others) compared  to the reference  period 
cost. Cost  variance  includes the  gain/loss  through consumptions  of  input 
materials at a higher  price/lower price, movement in  fixed cost, changes  in 
valuation of inventory due to movement in capacity utilization etc. 
c) Non-steel EBITDA  variance primarily represents  the gain/loss through  the 
sale of by-products and services.
d) Other represents  the gain/loss through  movements in provisions  including 
write  downs,  write  backs  of  inventory,  onerous  contracts,  reversal  of 
provisions, dynamic delta hedge  on raw materials,  foreign exchange, etc.  as 
compared to the reference period. Includes Paul Wurth divestment $242 million,
sale of carbon dioxide credits $220 million, DJ Galvanizing gain $47  million, 
delta of DDH income $49 million and others.

Appendix 8: Capital expenditure18

USD millions                    1Q 13 4Q 12^2 3Q 12^2 2Q 12^2 1Q 12^2
Flat Carbon Americas               85     106     167     167     212
Flat Carbon Europe                208     150     182     225     261
Long Carbon Americas and Europe   140     200     174     142     229
AACIS                              88     106     115      71     141
Distribution Solutions             12      13      21      23      25
Mining                            389     532     497     475     379

Note: Table excludes others and eliminations.

Appendix 9a: Accounting standard impact on EBITDA for full year 2010, 2011 and
2012

(USDm)                                2010 FY 2011 FY 2012 FY
EBITDA                                  8,525  10,117   7,080
Accounting changes                        206     333     445
Non-recurring accounting changes            -       -     154
Recast EBITDA                           8,731  10,450   7,679

Appendix 9b: Accounting standard impact by quarter and segment for 2012

EBITDA (USDm)                        FCA   FCE  Long AACIS AMDS Mining
1Q 2012
EBITDA                               632   130   437   160   35    478
Accounting changes                    81     1    11     3    -      6
Non-recurring accounting changes*     44    -    -    -   -     -
Recast EBITDA                        757   131   448   163   35    484

2Q 2012
EBITDA                               474   381   564   120  385    541
Accounting changes                    89     2    11     2    -      7
Non-recurring accounting changes       -     -     -     -    -      -
Recast EBITDA                        563   383   575   122  385    548

3Q 2012
EBITDA                               236   191   330    70   11    391
Accounting changes                    90     -    10     2    -      5
Non-recurring accounting changes       -     -     -     -    -      -
Recast EBITDA                        326   191   340    72   11    396

4Q 2012
EBITDA                                93   307   402   220 (24)    315
Accounting changes                    91     1    20     2    -     12
Non-recurring accounting changes**   110     -     -     -    -      -
Recast EBITDA                        294   308   422   222 (24)    327

2012 FY
EBITDA                             1,435 1,009 1,733   570  407  1,725
Accounting changes                   351     4    52     9    -     30
Non-recurring accounting changes     154     -     -     -    -      -
Recast EBITDA                      1,940 1,013 1,785   579  407  1,755


* 1Q 2012 impact include $44 million relating to Dofasco curtailment gains;
** 4Q 2012 impact include the reversal of the $110 million charge relating  to 
the recognition of additional actuarial losses which is now recognized through
equity under IAS 19R

Appendix 9: End notes

[1]The financial  information in  this  press release  has been  prepared  in 
accordance with International Financial Reporting Standards ("IFRS") as issued
by the International  Accounting Standards Board  ("IASB"). While the  interim 
financial information  included  in this  announcement  has been  prepared  in 
accordance with IFRS applicable to interim periods, this announcement does not
contain sufficient information  to constitute an  interim financial report  as 
defined  in  International   Accounting  Standards   34,  "Interim   Financial 
Reporting". The  numbers in  this press  release have  not been  audited.  The 
financial information and certain other  information presented in a number  of 
tables in this press release have been rounded to the nearest whole number  or 
the nearest decimal. Therefore,  the sum of  the numbers in  a column may  not 
conform exactly  to the  total  figure given  for  that column.  In  addition, 
certain percentages  presented in  the tables  in this  press release  reflect 
calculations based  upon the  underlying information  prior to  rounding  and, 
accordingly, may not conform exactly to the percentages that would be  derived 
if the relevant calculations were based upon the rounded numbers.
[2]Prior period  2010,  2011 and  2012  figures have  been  recast  following 
mandatory  adoption  of  new  accounting  standards.  The  main  effects   for 
ArcelorMittal are  related  to the  revision  of  IAS 19R  which  was  applied 
retrospectively (refer to appendix 9b). Following the changes, the  previously 
unrecognized actuarial gains and losses on pension liabilities are recorded in
the statements of financial position in full against equity. It means that the
previously unrecognized actuarial gains and losses are no longer recorded over
time against profit and loss  following the then allowed "corridor  approach". 
All future actuarial gains and losses  will also be immediately recognized  in 
other comprehensive income (OCI). In  addition, for purposes of measuring  the 
net financial cost on pension liabilities/assets, the expected rate of  return 
on assets  must be  equal  to the  discount  rate applicable  to  liabilities. 
Accordingly, the re-casted  EBITDA for  2012 was positively  impacted by  $599 
million, out of which  $409 million being the  regular amortization charge  of 
previously unrecognized actuarial gains and losses and $110 million being  the 
one-off impact from actuarial assumption changes in ArcelorMittal USA both  of 
which recorded directly in OCI, $44  million being an increase in  curtailment 
gain in Dofasco and $36 million as a result of changes in other standards. Net
financial cost  in 2012  increased by  $178  million. The  net loss  for  2012 
decreased by $374 million. Previously unrecognized actuarial gains and  losses 
for $5.1  billion were  recognized  on the  statements of  financial  position 
against equity net of $361 million  of deferred tax assets (an additional  tax 
credit of  approximately $1.3  billon  attributed to  this liability  will  be 
recognized in  the  future  when  existing tax  credits  are  consumed  and/or 
profitability improves).
[3]Lost time injury frequency  rate equals lost  time injuries per  1,000,000 
worked hours, based on own personnel and contractors.
[4]EBITDA is  defined  as  operating  income  plus  depreciation,  impairment 
expenses and restructuring charges / exceptional items. 
[5]EBITDA in 1Q 2013 was positively impacted by a $47 million fair  valuation 
gain relating to  the acquisition of  an additional ownership  interest in  DJ 
Galvanizing in Canada.
[6]4Q 2012  EBITDA  was  recast  post the  adoption  of  the  new  accounting 
standards (see Note 2). The impact on 4Q 2012 was $234 million, including  the 
reversal of the $110 million charge relating to the recognition of  additional 
actuarial losses which is now recognised through equity under IAS 19.
[7]Market  priced  tonnes  represent  amounts  of  iron  ore  and  coal  from 
ArcelorMittal mines that could  be sold to third  parties on the open  market. 
Market priced tonnes that are not  sold to third parties are transferred  from 
the Mining segment to the Company's  steel producing segments and reported  at 
the prevailing market price. Shipments of raw materials that do not constitute
market priced tonnes are  transferred internally and  reported on a  cost-plus 
basis.
[8]Net debt refers  to long-term debt,  plus short-term debt,  less cash  and 
cash equivalents, restricted cash and short-term investments.
[9]Includes back-up lines for the  commercial paper program of  approximately 
$1.3 billion (€1 billion).
[10]EBITDA/t means total Group EBITDA divided by total steel shipments.
[11]ArcelorMittal Dofasco has made  a number of changes  to its pension  plan 
and health and dental benefits.Employees at Dofasco will be transitioned from
an existing defined benefit pension plan to a new defined contribution pension
plan.Changes to health and dental benefits will result in an increase in  the 
portion of the cost of health benefits  that are borne by participants in  the 
plans. These changes  resulted in  a curtailment gain  of $241  million in  1Q 
2012. Under IAS 19R, the curtailment gain in Dofasco increased by $44  million 
to $285 million due to the  full underlying liability being recognized on  the 
balance sheet.
[12]There are three categories of  sales: 1) "External sales": mined  product 
sold to third  parties at  market price; 2)  "Market-priced tonnes":  internal 
sales of mined product to ArcelorMittal facilities and reported at  prevailing 
market prices; 3)  "Cost-plus tonnes"  - internal  sales of  mined product  to 
ArcelorMittal facilities  on a  cost-plus basis.  The determinant  of  whether 
internal sales are reported  at market price or  cost-plus is whether the  raw 
material could practically be sold to third parties (i.e. there is a potential
market for the product and logistics exist to access that market).
[13]Rotation days are  defined as days  of accounts receivable  plus days  of 
inventory minus  days  of  accounts  payable. Days  of  accounts  payable  and 
inventory are a function of cost of goods sold of the quarter on an annualized
basis. Days of accounts receivable are a  function of sales of the quarter  on 
an annualized basis.
[14]On January  14 and  16,  2013, ArcelorMittal  closed its  offerings  (the 
"Combined  Offering")   of  ordinary   shares  and   mandatorily   convertible 
subordinated notes ("MCNs"), respectively.  The total aggregate proceeds  from 
the Combined Offering  were approximately  $4.0 billion  (before deduction  of 
commissions  and  expenses).  The  ordinary  shares  offering  represented  an 
aggregate amount  of $1.75  billion,  representing approximately  104  million 
ordinary shares  at  an offering  price  of $16.75  (EUR  12.83 at  a  EUR/USD 
conversion rate of 1.3060) per  ordinary share. The MCN offering  represented 
an aggregate amount of  $2.25 billion. The MCNs  mature in January 2016,  were 
issued at 100% of the principal amount and will be mandatorily converted  into 
ordinary shares of ArcelorMittal at maturity, unless earlier converted at  the 
option of the  holders or ArcelorMittal  or upon certain  specified events  in 
accordance with the terms  of the MCNs.  The MCNs bear  interest of 6.00%  per 
annum, payable quarterly in arrears. The minimum conversion price of the  MCNs 
is $16.75, corresponding to  the placement price of  shares in the  concurrent 
ordinary shares offering as described above, and the maximum conversion  price 
was set at approximately 125%  of the minimum conversion price  (corresponding 
to $20.94).  The  Mittal  family  participated in  the  Combined  Offering  by 
acquiring $300 million of MCNs and $300 million of ordinary shares.
[15]Total of all  finished production of  fines, concentrate, pellets,  lumps 
and coal (includes share of production and strategic long-term contracts).
[16]ArcelorMittal  Distribution   Solutions  shipments   are  eliminated   in 
consolidation as  they primarily  represent shipments  originating from  other 
ArcelorMittal operating subsidiaries.
[17]Operating working capital  is defined as  trade accounts receivable  plus 
inventories less trade accounts payable.
[18]Capital expenditure includes the  acquisition of intangible assets  (such 
as concessions for mining and IT support) and includes payments to fixed asset
suppliers.
[19]Average steel selling  prices are  calculated as steel  sales divided  by 
steel shipments.
[20]Shipments originating from a geographical location.
[21]Includes Tubular products business.
[22]Commercial paper is expected to continue to be rolled over in the  normal 
course of business.
[23]Gearing is defined as (A) long-term debt, plus short-term debt, less cash
and cash equivalents,  restricted cash and  short-term investments  (including 
those held as part of asset/liabilities  held for sale), divided by (B)  total 
equity.

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