Metalloinvest announces the extention of loan agreement with ING BANK
and improvement of commercial terms of financing

Moscow, Russia - 28 November 2018 - 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 signing of an additional loan agreement with ING BANK (EURASIA) ("the Bank").

According to the new terms of the agreement, the Bank has extended the maturity of committed revolving credit line for the total amount of USD 200 mn till November 2020 (or an equivalent in EUR), while the Company managed to improve commercial terms of the financing.

This credit line allows the Company to provide an additional source of liquidity in order to improve its financial stability and resilience.

# # # #

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 Holding Company USM LLC. Alisher Usmanov is the major beneficiary of Holding Company USM LLC (49%), with other major beneficiaries being the companies of Vladimir Skoch (30%) and Farhad Moshiri (8%).