PJSC Magnitogorsk Iron & Steel Works ('MMK', or 'the Group') (MICEX-RTS: MAGN; LSE: MMK), one of the world's largest steel producers, announces that the Annual General Meeting of Shareholders ('the AGM') was held in absentia on 29 May 2020.

The AGM approved the annual report and accounts for 2019 and approved the payment of dividends.

Based on the results of Q4 2019, dividends will be paid in the amount of RUB 1.507 (incl. tax) per share.

The Q4 2019 dividend record date was determined as 17 June 2020. Previously shareholders received interim dividends for Q1 2019 of RUB 16,627.4 mln (RUB 1.488 per share, incl. tax), for Q2 2019 of RUB 7,710.3 mln (RUB 0.690 per share, incl. tax), and for Q3 2019 of RUB 18,437.6 mln (RUB 1.650 per share, incl. tax).

ABOUT MMK

MMK is one of the world's largest steel producers and a leading Russian metals company. The Group's operations in Russia include a large steelproducing 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 2019, MMK produced 12.5 mln tonnes of crude steel and 11.3 mln tonnes of commercial steel products.

Contact:

Veronika Kryachko

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

Email: kryachko.vs@mmk.ru

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