S&P affirmed Metalloinvest 'BB' long-term rating

Moscow, Russia - February 25, 2016 - Metalloinvest ('the Company') announces that Standard & Poor's Ratings Services ('S&P') affirmed 'BB' long-term foreign- and local-currency ratings on the Company.

According to the published statement, S&P affirmed 'BB' ratings because the agency believes that the weaker Russian ruble and a favorable product mix will continue to benefit Metalloinvest's performance metrics. The Company's positive free operating cash flow generation, reduced capital expenditure, commitment to deleveraging contributed to the S&P decision.

The outlook remains Negative due to challenging market conditions and Company's sensitivity to movements in iron ore prices, demand levels and foreign exchange rates.

Concurrently, S&P affirmed 'BB' issue rating on USD 1 bn senior unsecured notes due 2020.

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For more information, please contact the Investor Relations Department:

Artem Lavrischev
Head of Investor Relations

E: ir@metalloinvest.com

T: +7 (495) 981-55-55

_{Metalloinvest is a leading global iron ore and HBI producer and supplier, and one of the regional high quality steel producers. The Company has the world's second largest measured iron ore reserve base under its operation with the key-note iron ore production cost efficiency.}

_{Metalloinvest is wholly owned by USM Holdings. Alisher Usmanov is the major beneficiary of USM Holdings (48%), with other major beneficiaries being the companies of Vladimir Skoch (30%) and Farhad Moshiri (10%).}