PJSC Magnitogorsk Iron and Steel Works: MMK publishes 2020 Integrated Annual Report

MMK group publishes 2020 integrated

annual report

27 april 2021

Magnitogorsk, Russia

PJSC Magnitogorsk Iron & Steel Works ("MMK", or "the Group") (MICEX-RTS: MAGN; LSE: MMK), one of the world's largest steel producers, is pleased to announce that the Integrated Annual Report for 2020 has been published on the MMK's corporate website.

This 2020 Annual Report (the "Report") discloses data on the Group's financial, economic and operating activities, and reflects the sustainability highlights prepared under the GRI (Global Reporting Initiative's Sustainability Reporting Standards) and SASB (Sustainability Accounting Standards Board) Reporting Standards. For the first time in Russian reporting history Greenhouse gas emissions (scope 1,2,3) were verified by BSI Assurance UK Ltd.

The Report also reflects the Group's contribution to achieving the Sustainable Development Goals adopted by the UN in 2015 in the document Transforming Our World: 2030 Agenda for Sustainable Development.

The full report is available at: http://eng.mmk.ru/for_investor/annual_reports/

About MMK

MMK is one of the world's largest steel producers and a leading Russian metals company. The Group's operations in Russia include a large steel-producing unit 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 premium products. In 2020, MMK produced 11.6 mln tonnes of crude steel and sold 10.8 mln tonnes of commercial steel products.

ММК is an industry leader in terms of production costs and margins. Group revenue in 2020 totalled USD 6,395 mln, with an EBITDA of USD 1,492 mln. MMK boasts the industry's lowest debt burden. Net debt/EBITDA ratio was -0.06х at the end of 2020. The Group's investment-grade rating is confirmed by the leading global rating agencies Fitch, Moody's and S&P.

MMK's ordinary shares are traded on the Moscow Exchange, while its depositary receipts are traded on the London Stock Exchange. Free float amounts to 15.7%.

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