PJSC Magnitogorsk Iron & Steel Works' ('MMK', or 'the Company') (MICEX-RTS: MAGN; LSE: MMK), one of the world's largest steel producers, is pleased to announce its Trading Update for Q4 and FY 2019.

Q4 2019 HIGHLIGHTS

Pig iron output increased by 1.7% quarter-on-quarter (q-o-q) due to improved productivity of blast furnaces. Steel output was down by 3.9% q-o-q due to the seasonal decline in demand. MMK Group's total sales of finished products totalled 2,781 thousand tonnes, down 4.0% q-o-q. MMK Group's sale of HVA products were 1,296 thousand tonnes, down 8.6% q-o-q. The share of HVA products in total sales amounted to 46.6%. The volume of shipments of HVA products were down q-o-q due to replenishment of coated steel stocks at warehouses and seasonally weak demand. MMK Coal's coal concentrate production totalled 721 thousand tonnes, up 14.7% q-o-q.

About MMK

MMK is one of the world's largest steel producers and a leading Russian metals company. The Company's operations in Russia include a large steel-producing unit encompassing the entire production chain, from the preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of high-value-added products. In 2018, the Company produced 12.7 mln tonnes of crude steel and 11.7 mln tonnes of commercial steel products. is an industry leader in terms of production costs and margin. MMK Group had revenue in 2018 of USD 8,214 mln and EBITDA of USD 2,418 mln. MMK's debt load is the lowest for the industry. Net debt/EBITDA ratio was -0.08 at the end of 2018. The Company's investment-grade rating is confirmed by the leading global rating agencies Fitch, Moody's, S&P. MMK's ordinary shares are traded on Moscow Exchange, while its depositary receipts are traded on the London Stock Exchange. Free float amounts to 15.7%.

Contact:

Tel: +7 (3519) 25-75-01

Email: kryachko.vs@mmk.ru

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