Metalloinvest announces partial redemption of Eurobonds-2020

Moscow, Russia - 17 May 2019 - 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 redemption of Eurobonds-2020 issued by Metalloinvest Finance D.A.C. in 2013.

In order to optimise the loan portfolio, the Company has redeemed part of the outstanding Eurobonds (ISIN: XS0918297382) for the nominal value of USD 62.114 mn using its own funds. As a result, the Eurobonds' current outstanding nominal value is USD 270.615 mn with maturity in April 2020.

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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%).