ArcelorMittal (MT) Enters Supply Deal with General Motors (GM) for Sustainable XCarb Steel

On our journey towards carbon neutral steel, ArcelorMittal (NYSE: MT) North America will supply General Motors (GM) with XCarb™ recycled and renewably produced (RRP) steel, offering significantly reduced CO2 emissions compared to much of the carbon steel available in North America.¹ Material will be supplied from ArcelorMittal Dofasco in Hamilton, Ontario and shipments are expected to begin during 2Q 2023.

ArcelorMittal North America's XCarb™ RRP steel is made via the Electric Arc Furnace (EAF) route and contains a stated minimum of 70% scrap, with up to 90% scrap, and does not use carbon offsets to achieve the reduced carbon intensity. XCarb™ RRP is a physical steel product. Its lower CO2 intensity has been independently verified with an accompanying Life Cycle Analysis (LCA) that includes Scope 1, 2 and 3 emissions. A confirmation letter verifies the electricity used in the steelmaking process is from renewable sources.

"This is a terrific first step in supplying steel with substantially lower CO2 emissions to automakers in North America," says Peter Leblanc, CMO Automotive at ArcelorMittal. "As a global leader in the steel industry, we are making smarter steels for people and planet, and XCarb™ RRP is one of the smartest steels around. It is not the result of clever accounting or offsets – it is steel with physically lower CO2 emissions, which will help drive the achievement of ArcelorMittal's goal to be carbon neutral. We are proud to join GM in their march toward a zero emissions future."

"This agreement provides another example of how we are innovating with our suppliers to reduce emissions throughout the supply chain," said Jeff Morrison, GM vice president of Global Purchasing and Supply Chain. "It also highlights how strong supplier relationships can help build a better, more sustainable future."

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