Metalloinvest declares dividends

Moscow, Russia - 26 March 2020 - Metalloinvest, 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 78.5 billion roubles.

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

"Based on 12 months of 2019 results and Net Debt/EBITDA ratio of 1.49x as of 31 December 2019, the shareholders of Metalloinvest made a decision to pay out the dividends in the total amount of 78.5 billion roubles, most of which will be returned to the Company for the settlement of the intragroup transactions."

# # # #

For further information, please contact:

Artem Lavrischev
Director of Investor Relations and Corporate Ratings

E: ir@metalloinvest.com

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

Anton Troshin
Director of Corporate Communications Department

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 controlled by HC USM LLC, the main beneficiary is Alisher Usmanov (49%).