Metalloinvest and Aktobe Rail and Section Works sign long-term contract

Moscow, Russia - 1 February 2016 - Metalloinvest and Aktobe Rail and Section Works in Kazakhstan today announced the signing of a long-term supply contract for rails and structural steel for a three-year period. Under the terms of the agreement, Metalloinvest will deliver approximately 600,000 tonnes of steel products.

In accordance with the contract, the pricing will be based on current market indicators, taking into account global price trends.

The rails and structural steel will be supplied by OEMK (part of Metalloinvest) from February 2016 onwards.

Andrey Varichev, CEO of Management Company Metalloinvest, commented: 'Metalloinvest's resource reserves and modern technologies mean that the Company is able to increase supplies of high quality steel products. Long-term contracts allow us and our partners to improve our production and investment planning, enabling us to increase operational and financial efficiency.'

The new agreement continues Metalloinvest's practice of signing long-term contracts, which are a key factor in ensuring stable demand for the Company's products.
 

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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 steel producers. The Company has the world's largest iron ore deposits under its operation with superior 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%).}