Moscow, Russia - 03 September 2018 - Metalloinvest ("the Company"), a leading global iron ore and HBI producer and supplier, and one of the regional producers of high-quality steel, today announces the partial refinancing of its loan portfolio following the signing of a credit line agreement with Gazprombank.

In accordance with the terms of the agreement, the Company has raised RUB 18.8 bn with a 6-year maturity. These funds were used in full for the early repayment of the Sberbank loan, due in the first half of 2019. As a result, the Company has almost no principal amount of debt to redeem for the next 16 months.

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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 Holding Company USM LLC. Alisher Usmanov is the major beneficiary of Holding Company USM LLC (49%), with other major beneficiaries being the companies of Vladimir Skoch (30%) and Farhad Moshiri (8%).