Metalloinvest announces the election of a new Board of Directors

Moscow, Russia - 13 January 2022 - Metalloinvest, a leading global iron ore and HBI producer and supplier, and one of the regional producers of high-quality steel, announces the election of a new Board of Directors at Management Company Metalloinvest.

Yerkozha Akylbek was elected to the Board of Directors for the first time, replacing Maxim Poletaev. There were no further changes to the composition of the Board of Directors.

Yerkozha Akylbek has been the First Deputy CEO - Executive Director and member of the Board of Directors of USM since December last year.

He also serves on the Board of Directors of Udokan Copper and is Chairman of the Supervisory Board of Coscom.

From 2020-2021, he was successively Director for Internal Audit and Strategic Projects at USM Telecom and Deputy CEO for Financial Control, Planning and Audit at USM.

From 2001 to 2020, Yerkozha Akylbek worked at KPMG. He established and led the Technology, Media & Telecom practice. Since 2018 he headed the Audit Department in Russia and CIS countries. He served as a director and a partner of KPMG JSC and as CEO of KPMG Tax and Advisory LLC.

The Board of Directors of Management Company Metalloinvest comprises the following 12 members:

• Ivan Streshinsky, Chairman of the Board of Directors;
• Vakhtang Kocharov, Vice Chairman of the Board of Directors, Executive Director;
• Nazim Efendiev, Chief Executive Officer;
• Irina Lupicheva, Non-Executive Director;
• Pavel Mitrofanov, Non-Executive Director;
• Yerkozha Akylbek, Non-Executive Director;
• Uluç Ergin, Non-Executive Director;
• Galina Aglyamova, Independent Director;
• Valery Kazikaev, Independent Director;
• Dmitry Tarasov, Independent Director;
• Alexander Blumhardt, Independent Director;
• Manfred Grundke, Independent Director.

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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

T: +7 (495) 981-55-55, ext. 7629

Metalloinvest is a leading metals and mining company with the largest proven iron ore reserves on a JORC-equivalent basis
(15.4 billion tonnes and about 150 years of reserve life). The company is the world's largest producer and supplier of merchant hot briquetted iron (HBI) products, a low-carbon raw material used to produce green steel; Metalloinvest holds a leading position in the production of pellets, iron ore concentrate and high-quality steel.

In H1 2021, revenue amounted to USD 5.1 bn; EBITDA - USD 2.9 bn. The company has 10+ years track record on public debt capital markets.

Alisher Usmanov is the main beneficiary of the company (with a 49% stake) through Holding Company USM LLC.

Ticker (Bloomberg): METIN RU; official website: www.metalloinvest.com