Metalloinvest declares dividends

Moscow, Russia - 22 July 2020 - Metalloinvest ("the Company"), a leading global iron ore and HBI producer and supplier, and one of the regional producers of high-quality steel, has announced its dividends in the amount of 116.5 billion roubles.

Pavel Mitrofanov, Chairman of the Finance, Budget and Strategy Committee of the Board of Directors, commented:

"To achieve our objective of improving the Company's financial profile, the shareholders of Metalloinvest have made the decision to reduce a significant share of intragroup loans. Thereby, the major part of declared dividends for H1 2020 in the total amount of 116.5 billion roubles will be returned to the Company's balance."

If you have any questions, please contact us:

Artem Lavrischev
Investor Relations

E: ir@metalloinvest.com

T: +7 (495) 981-55-55, ext. 7243

Anton Troshin

Public Relations

E: pr@metalloinvest.com

T: +7 (495) 981-55-55, ext. 7629

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%).