PJSC Magnitogorsk Iron and Steel Works: MMK comments on the Council Implementing Regulation (EU) 2022/427 and Council Decision (CFSP) 2022/429 of 15 March 2022

MMK comments on the Council Implementing Regulation (EU) 2022/427 and Council Decision (CFSP) 2022/429 of 15 march 2022

18 march 2022

Magnitogorsk, Russia 

PJSC Magnitogorsk Iron & Steel Works ("MMK", "the Group") (MOEX: MAGN; LSE: MMK) notifies that on 15 March 2022 the European Council published the fourth package of economic and individual sanctions against the Russian Federation, including Viktor Rashnikov, Chairman of the Board of Directors and controlling shareholder of MMK.

We consider the sanctions against Viktor F. Rashnikov to be groundless and unfair.

MMK is reviewing the decision taken by the European authorities and assessing possible impact of sanctions on its business. MMK is one of the world's largest steelmakers, characterized by high production efficiency, low debt burden and stable financial position.

About MMK

PJSC Magnitogorsk Iron and Steel Works (MMK Group, MMK) is a Russian iron and steel 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 manufactures a broad range of steel products, with a predominant share of premium products. In 2021, MMK produced 13.6 mln tonnes of crude steel and sold 12.5 mln tonnes of commercial steel products.

Group revenue in 2021 totalled USD 11,869 mln, with an EBITDA of USD 4,290 mln. MMK boasts the industry's lowest debt burden. Net debt/EBITDA ratio was -0.09 at the end of 2021.

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 20.2%.

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Investor Relations Department

Veronika Kryachko
+7 (915) 380-62-66
kryachko.vs@mmk.ru

ESG DEPARTMENT

Yaroslava Vrubel
+7 982 282 9682
vrubel.ys@mmk.ru

Communications Department

Dmitriy Kuchumov  
+7 (499) 238-26-13
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