Prospectus excerpt:  ArcelorMittal (the “Issuer”, “we”, “ArcelorMittal” or the “Company”) is offering $1,250,000,000 aggregate principal amount of 5.50% Mandatorily Convertible Subordinated Notes due 2023 (the “Notes”) that are mandatorily convertible into up to 134,843,500 new or existing ordinary shares (with no par value) of the Issuer (the “Shares”). See “Description of the Notes.” Each Note has a principal amount of $25. The Notes will bear interest from, and including, May 18, 2020 at the rate of 5.50% per year, payable quarterly in arrears on February 18, May 18, August 18 and November 18 of each year, commencing on August 18, 2020, as described in this prospectus supplement, subject to our right to defer interest payments as more fully described in this prospectus supplement. Any such deferred payments will themselves bear interest at the same rate as the principal amount of the Notes.