Aperam announces the completion of its share buyback program

Luxembourg, 19 April 2022 (16:45 CET) -  Aperam has completed its share buyback program announced on 11 February 2022 (hereafter the "Program"). In aggregate, 2,311,849 shares were bought under this Program, representing an equivalent amount of EUR 100 million.

Technical details regarding the share buyback program and treasury shares

Share buyback program - Corporate authorisation and key features of the Program

On 11 February 2022, Aperam announced a share buyback program under the authorization given by the annual general meeting of shareholders held on 7 May 2019 and, or under any renewal of such authorization at the May 4, 2022 annual general meeting of shareholders, with the following key features:

• Purpose of the Program: cancellation of shares to reduce the share capital; and meeting obligations arising from employee share programs
• Maximum number of shares to be acquired under the Program: 2.5 million
• Maximum pecuniary amount allocated to the Program: EUR 100 million
• Period of authorisation of the Program: 14 February 2022 to 31 December 2022

The full details of the Program - including the Mittal family's intention to enter into a shares repurchase agreement with Aperam to maintain its voting rights in Aperam's issued share capital (net of Treasury Shares) at the same level, pursuant to the impact of the Program - are available in the press release dated 11 February 2022 (Link).

Share buyback program - Disclosure of trading in own shares under the completed Program

• Period of repurchases: 18 February 2022 to 12 April 2022 (based on trade date)
• Number of shares acquired: 2,311,849
  • Out of which on Euronext Amsterdam and other regulated dealing platforms: 1,364,915
  • Out of which on Euronext off market platform from the Mittal family: 946,934
• Pecuniary amount of shares acquired: EUR 100 million
  • Out of which on Euronext Amsterdam and other regulated dealing platforms: EUR 59.04 million
  • Out of which on Euronext off market platform from the Mittal family: EUR 40.96 million

The weekly detailed statements of own shares dealings made from 18 February 2022 to 12 April 2022 are available at the Company's website www.aperam.com, section Investors, Equity Investors, Share buy back (Link).

Treasury shares after completion of the Program (based on settlement date)

On 19 April 2022, the number of shares held by the Mittal family is 30,960,398. This amount corresponds to 40.96% of the issued shares (net of treasury shares).

About Aperam

Aperam is a global player in stainless, electrical and specialty steel, with customers in over 40 countries. As from 31.12.2021, the business is organised in four primary reportable segments: Stainless & Electrical Steel, Services & Solutions, Alloys & Specialties, and Recycling.

Aperam has a flat Stainless and Electrical steel capacity of 2.5 million tonnes in Brazil and Europe and is a leader in high value specialty products. In addition to its industrial network, spread over six production facilities in Brazil, Belgium and France, Aperam has a highly integrated distribution, processing and services network and a unique capability to produce stainless and special steels from low cost biomass (charcoal made from its own FSC-certified forestry). With ELG, Aperam is also a global leader in collecting, trading, processing and recycling of stainless steel scrap and high performance alloys, delivering~ 1.2 m tonnes of materials annually.

In 2021, Aperam had sales of EUR 5,102 million and steel shipments of 1.82 million tonnes.

For further information, please refer to our website at www.aperam.com.

Contact

Corporate Communications /  Laurent Beauloye: +352 27 36 27 103

Investor Relations / Thorsten Zimmermann:  +352 27 36 67 304