Moscow, Russia - 8 December 2017 - Metalloinvest ("the Company") announces that Dagong Global Credit Rating Co., Ltd ("Dagong"), a Chinese credit rating agency, has affirmed the Company's 'BBB+' long-term issuer credit rating in domestic and foreign currencies with a Stable outlook. According to the national scale of China, this is equivalent to the highest rating, 'AAA'.

The confirmation of the credit rating and Stable outlook reflects Dagong's confidence that Metalloinvest's vertically integrated business structure, rich iron ore reserves and focus on increasing high value-added product capacity will allow the Company to generate considerable operating cash flow for the fulfilment of its debt obligations.

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For more information, please contact:

Artem Lavrischev
Director of Investor Relations and Corporate Ratings

E: ir@metalloinvest.com

T: +7 (495) 981-55-55

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 USM Holdings. Alisher Usmanov is the major beneficiary of USM Holdings (49%), with other major beneficiaries being the companies of Vladimir Skoch (30%) and Farhad Moshiri (10%).