PJSC Magnitogorsk Iron and Steel Works: MMK EGM APPROVES DIVIDENDS FOR 9M 2017

MMK EGM APPROVES DIVIDENDS FOR M9 2017

12-12-2017, Magnitogorsk

PJSC Magnitogorsk Iron and Steel Works ("MMK" or "the Company") announces that an Extraordinary General Meeting of shareholders was held on 8 December 2017 ("the EGM") with absentee voting.

Shareholders approved by majority vote a dividend on MMK's issued ordinary registered shares of RUB 1.111 (before taxes) per share for the third quarter of 2017 (or approximately USD 209 mln in total based on the exchange rate as of the date of decision), which amounts to 59% of free cash flow under IFRS for Q3 2017, and secures 2.5% dividend yield.

The dividend will be paid in cash by bank transfer within the period and in the manner stated by the Federal Law on Joint-Stock Companies.

The dividend record date is set as the close of trading on 19 December 2017.

About MMK

MMK is one of the world's largest steel producers and a leading Russian metals company. The company's operations in Russia include a large steel-producing complex encompassing the entire production chain, from the preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of high-value-added products. In 2016, the company produced 12.5 million tonnes of crude steel and 11.6 million tonnes of commercial steel products. MMK Group had sales in 2016 of USD 5,630 million and EBITDA of USD 1,956 million.

Investor Relations Department:

Andrey Serov, Head of IR

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