Moscow, Russia - 18 January 2018 - Metalloinvest ("the Company"), a leading global iron ore and HBI producer and supplier, and one of the regional producers of high-quality steel, announces that Moody's Investors Service ("Moody's") has revised its outlook on Metalloinvest from Stable to Positive. Moody's also affirmed the Company's 'Ba2' corporate rating.

According to Moody's statement, Metalloinvest's upgrade to a Positive outlook reflects the Company's deleveraging in 2017, as a result of improved iron ore and steel prices, which provided a boost to earnings and cash flow generation, as well as its increased high value-added production capacity.

Moody's analysts maintained their view that the Company is well positioned in the iron ore product market due to its low production costs, vast iron ore reserves, high share of value-added products (pellets and HBI), the advantages of vertical integration and its diverse customer base.

The change in the Company's outlook to Positive also reflects Moody's expectation that Metalloinvest will be able to maintain a moderate leverage and continue to address its refinancing needs in advance, as well as generate positive free cash flow and retain healthy liquidity.

Moody's has also confirmed the ratings on the senior unsecured debt issued by Metalloinvest Finance D.A.C. at 'Ba2'.

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For more information, please contact:

Artem Lavrischev
Director of Investor Relations and Corporate Ratings

E: ir@metalloinvest.com

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

Metalloinvest is a leading global iron ore and merchant HBI producer and supplier, and one of the regional producers of high-quality steel. The Company has the world's second-largest measured iron ore reserve base and is one of the lowest-cost iron ore producers.

Metalloinvest is wholly owned by USM Holdings. Alisher Usmanov is the major beneficiary of USM Holdings (49%), with other major beneficiaries being the companies of Vladimir Skoch (30%) and Farhad Moshiri (10%).