Metalloinvest opens a new credit line for refinancing purposes

Moscow, Russia - 27 October 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 new credit line with Gazprombank ("the Bank") in the amount of RUB 5 bn.

In line with its Debt Management Strategy, the Company has entered into a new loan agreement with the Bank. The new credit line matures at the end of 2026.

The Company plans to use this credit line in order to partially refinance and improve the commercial terms of its loan portfolio.

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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

Tel.: +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%).