Remuneration policy vs. cash flow generation
ArcelorMittal Tubarão current remuneration policy focuses on various criteria, in other words, past, present and future. A remuneration policy cannot negatively impact growth capacity or the capacity to attract credit. Today ArcelorMittal Tubarão enjoys lower costs for attracting funding, both in the open capital and long-term markets, and this is an asset that cannot be negatively impacted. As such, final decisions made by ArcelorMittal Tubarão on remuneration are based on a broad set of information. However, opportunities for credit growth and performance are always taken into account, with a focus on optimizing the capital structure for total shareholder return.