ArcelorMittal's EBITDA in H1 2012 is expected to be lower than H1 2011 but above H2 2011, supported by continued progress on management gains and asset optimization plans.

The company expects steel shipments in the first half of 2012 to be at a similar level to first half of 2011. Mining production is expected to be higher than in the first half of 2011 in line with plans to increase full year 2012 own iron ore and coal production by approximately 10%.

2012 CAPEX budget is expected to be approximately USD 4 to USD 4.5 billion including mining growth plans. A further reduction in net debt is anticipated due to a continued focus on working capital management and non core asset divestments, per the company's stated objective to retain its investment grade credit rating.