Metalloinvest opens a new credit line at Credit Bank of Moscow

Moscow, Russia - 14 August 2020 - 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 opening of a revolving credit line with CREDIT BANK OF MOSCOW ("MKB") in the amount of RUB 7 bn.

In line with its Debt Management Strategy, the Company has entered into a loan agreement with MKB to open a committed revolving credit line in the amount of RUB 7 bn. The loan has a repayment period within 36 months, the interest rate is floating and linked to the key rate set by the Bank of Russia throughout the term of the credit line.

The credit line has been opened to provide a reserve source of liquidity for the Company.

# # # #

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%).