Extension of service contract with Globaltrans

Service contract with Globaltrans extended for further 3 years 

Moscow, Russia - 29 December 2016 - Metalloinvest and Globaltrans Investment PLC (together with its consolidated subsidiaries "Globaltrans") today announce that the companies have extended the long-term service for a further three-year period. The key terms of the contract remain unchanged - Globaltrans will continue servicing 100% of Metalloinvest's freight rail transportation needs.

"The contract extension builds on years of hard work and a rewarding business relationship. As in the past, we look forward to the exceptional service we have received from Globaltrans," said Andrey Varichev, CEO at Metalloinvest.

"Client service is at the heart of everything we do. We are pleased to continue our highly successful partnership with Metalloinvest which we have been building for many years," said Valery Shpakov, CEO at Globaltrans.

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For more information, please contact the Investor Relations & Corporate Ratings department:

Artem LavrischevDirector of department

E: [email protected]

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 (49%), with other major beneficiaries being the companies of Vladimir Skoch (30%) and Farhad Moshiri (10%).