EX-23.5 7 tm2112615d2_ex23-5.htm EXHIBIT 23.5

Exhibit 23.5

Dear Sirs/ Mesdames:

RE: United States Securities and Exchange Commission reporting of 2020 Mineral Reserves

I hereby consent to:

a) "KAI" Ltd. being named in the Annual Report on Form 20-F of ArcelorMittal for the year ended December 31, 2020 (the "2020 20-F") as having prepared, with support of ArcelorMittal's local team, the 2019 iron ore reserve estimates considering full life of mine design on the Ukraine Open Pit property (ArcelorMittal Kryvyi Rih Open Pit), and

b) the incorporation by reference of the 2020 20-F into this Registration Statement on Form F-3.

For and on behalf of mining consulting firm "KAI" Ltd.:

/s/ Nazarenko Mykhailo |
Director of “KAI” Ltd.
Nazarenko Mykhailo
Date: 16.4.2021