Metalloinvest announces changes to its Board of Directors

Moscow, Russia - 03 May 2018 - Metalloinvest, a leading global iron ore and HBI producer and supplier, and one of the regional producers of high-quality steel, today announces the new composition of its Board of Directors.

The Board of Directors now comprises the following members:

• Ivan Streshinsky, Chairman
• Galina Aglyamova, Independent Non-Executive Director
• Andrey Varichev, Executive Director
• Valery Kazikaev, Independent Non-Executive Director
• Irina Lupicheva, Non-Executive Director
• Pavel Mitrofanov, Non-Executive Director
• Gleb Kostikov, Non-Executive Director
• Dmitry Tarasov, Independent Director

 The Board of Directors confirmed the composition of its Committees.

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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%).