Salient features

Safeguard duties on hot rolled products have been approved and await implementation

Imports have continued despite duties and designation of steel

Additional sales of 6 000 tonnes of heavy sections and rails due to manufacturing agreement with Highveld Steel

Borrowing base facility of R4 500 million was concluded

ArcelorMittal South Africa improved on B-BBEE status to level 3

Domestic steel demand at a seven-year low

Coal prices spike at USD300 per tonne in quarter 2

Higher iron ore prices

Impacted negatively by exchange rate volatility

The analysis on the following pages relates to the six months ended 30 June 2017 (current year) compared to the six months ended
30 June 2016 (prior year) except where otherwise indicated.