Novolipetsk Steel refers to the Final Terms dated September 3, 2019 (the "Applicable Final Terms") and the Debt Issuance Programme Prospectus dated June 14, 2019 (the "Base Prospectus") giving details of the Notes issued on September 5, 2019 under Series Number 175441EN/19.9 Tranche 1. Following the suspension of the stock Novolipetsk Steel PJSC since March 03, 2022 on London Stock Exchange Foreign, Société Générale or any of its affiliates is unable, after using commercially reasonable efforts, to either acquire, establish, re-establish, substitute, maintain, unwind and/or dispose of any transaction(s) or asset(s) it deems necessary to hedge the market risk of entering into and performing its obligations with respect to the Notes, which constitutes a Hedging Disruption. Notice is hereby given to the Noteholders that following such occurrence of a Hedging Disruption event affecting the Novolipetsk Steel PJSC company, Société Générale as Calculation Agent of the Notes considers such event as an event triggering the early redemption of the Notes in accordance with the provisions of the Additional Terms and Conditions for Share Linked Notes and Depositary Receipts Linked Notes (under the Condition 3.2.1 "Change in Law, Hedging Disruption, Holding Limit Event, Increased Cost of Hedging and Insolvency Filing and consequences") of the Base Prospectus. Therefore, the Issuer will terminate its obligations under the Notes and redeem each Note on March 31, 2022 at the Early Redemption Amount equals to RUB 14.80.