Metalloinvest announces changes to Board committees
 

Moscow, Russia - 1 August 2016 - Metalloinvest's Board of Directors has approved changes to the composition of the Finance, Budgeting and Strategy Committee and the Remuneration Committee as part of its continued efforts to improve the Company's corporate governance.

The Board of Directors appointed Galina Aglyamova, an independent director, as a member of the Finance, Budgeting and Strategy Committee, which now comprises the following members: Pavel Mitrofanov (Chairman), Galina Aglyamova, Andrey Varichev, Valery Kazikaev and Dmitry Tarasov.

In addition, Ivan Tavrin was elected as the Chairman of the Remuneration Committee, which also includes Ivan Streshinsky and Dmitry Tarasov.

The Audit Committee will remain unchanged: Galina Aglyamova (Chairman), Irina Lupicheva and Pavel Mitrofanov.
 

# # # #
 

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 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 (48%), with other major beneficiaries being the companies of Vladimir Skoch (30%) and Farhad Moshiri (10%).}