Management Report - Beursgorilla

Management Report 2009 Contents01 Our Philosophy02 Financial Highlights04 Message from the Chairman and CEO08 Questions for the Group Management Board14 2009 Highlights16 Board of Directors20 Senior Management24 Business Strategy28 Corporate Responsibility42 Global Presence48 Operational Review58 Liquidity62 Market Information66 Corporate Governance76 Share Capital and Voting Rights78 Group Structure80 Additional Information about ArcelorMittalFinancial Information 2009 Contents01 Chief Executive Officer and Chief Financial Officer’s Responsibility Statement02 2009 Consolidated Financial Statements87 2009 Annual Accounts100 Proposed Allocation of Results for 2009DisclaimerIn this Annual Report, ArcelorMittal has made, and will continue to make,forward-looking statements with respect to, amongst other things, its financialposition, business strategy, projected costs, projected savings, and the plansand objectives of its management. Such statements are identified by the useof forward-looking words or phrases such as ‘anticipates’, ‘intends’, ‘expects’,‘plans’, ‘believes’, or ‘estimates’, or words or phrases with similar meaning. Theactual results may differ materially from those implied by such forward-lookingstatements on account of known and unknown risks and uncertainties, including,without limitation, the risks described in this Annual Report.ArcelorMittal does not make any representation, warranty or prediction that theresults anticipated by such forward-looking statements will be achieved. Suchforward-looking statements represent, in each case, only one of many possiblescenarios and should not be viewed as the most likely or standard scenario.ArcelorMittal undertakes no obligation to publicly update its forward-lookingstatements, whether as a result of new information, future events or otherwise.Unless indicated otherwise, or the context otherwise requires, referencesherein to ‘ArcelorMittal’, the ‘Group’ and the ‘Company’ or similar terms are toArcelorMittal, société anonyme, having its registered office at 19, avenue dela Liberté, L-2930 Luxembourg, Grand Duchy of Luxembourg, and, where thecontext requires, its consolidated subsidiaries.