Public Joint Stock Magnitogorsk Iron & Steel Works : Extract from the minutes On recommendations to MMK PJSC’s Extraordinary General Shareholders Meeting on the size of dividends on MMK’s outstanding shares and the procedure of their payment based on the results of MMK's operations in 9 months of 2021 repor

Public Joint-Stock Company

Magnitogorsk Iron and Steel Works (MMK PJSC)

EXTRACT FROM THE MINUTES OF THE MEETING № 6

October 25, 2021

Magnitogorsk

Re.: Resolution of the Board of Directors of Public Joint Stock Company Magnitogorsk Iron and Steel Works taken by absentee voting

Pursuant to Article 68 of the Federal Law On Joint Stock Companies, p. 11.23 of the Charter of PJSC MMK, Chapter IV of the Provision on the Board of Directors of PJSC MMK, Mr. Viktor F. Rashnikov, the Chairman of the Board of Directors of PJSC MMK, passed the decision on the 20th of October, 2021 on adopting the resolution by the Board of Directors of PJSC MMK by absentee voting on the following items of the absentee voting agenda:

2 Recommendation to the Extraordinary General Meeting of Shareholders of PJSC MMK on the size of dividends on PJSC MMK's placed ordinary shares and procedure of payment thereof based on the performance results for nine months of 2021 reporting year, and proposal to the extraordinary general meeting of shareholders of PJSC MMK on setting the date on which the persons that are entitled to receiving the dividends are to be determined.

On the second item of the absentee voting agenda it was resolved:

Pursuant to subparagraph 11 of paragraph 1 of Article 65 of the Federal Law On Joint Stock Companies, to recommend to the Extraordinary General Meeting of Shareholders of PJSC MMK the size of dividends on PJSC MMK's placed registered ordinary shares based on the performance results for nine months of 2021 reporting year, to be RUB 2.663 (tax included) per share.

The dividends shall be paid in monetary form, by money transfer within the period set by the Federal Law "On Joint Stock Companies".

Pursuant to paragraph 3 of Article 42 of the Federal Law On Joint Stock Companies, paragraph 8.4 of the PJSC MMK's Charter, to propose to the Extraordinary General Meeting of shareholders of PJSC MMK to set the end of the business day on January 13, 2022 as the date, on which the persons entitled to receive the dividends on the placed ordinary shares of PJSC MMK for the performance results for nine months of 2021 reporting year, are to be determined.

V. F. Rashnikov,

Chairman of the Board of Directors of MMK PJSC