| MMK announces THE AGM results 2 june 2020 Magnitogorsk, Russia | 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). The AGM elected MMK's Board of Directors as follows: Victor Rashnikov; Pavel Shilyaev (CEO of MMK); Sergey Ushakov (Deputy Director for Sales at MMK); Andrei Eremin (Director for Economics at MMK); Olga Rashnikova; Zumrud Rustamova (Deputy CEO of Polymetal); Kirill Levin (First Deputy Chairman of the Management Board at Russian Agricultural Bank). In addition, three directors were elected who meet the criteria for independence of the Russian Corporate Governance Code as recommended by the Central Bank of Russia, and the Listing Rules of Moscow Exchange: Valery Martsinovich (Strategic Director for European Fast-Growing Markets Cluster at Hay Group); Tav Morgan (Department Director at Baring Vostok Capital Partners Group Limited); Nikolay Nikiforov (Chairman of the Board of Directors of Diginavis). The shareholders approved: PricewaterhouseCoopers Audit as MMK's auditor; Remuneration and compensation paid to members of the Board of Directors during their performance of duties in 2020-2021 (RUB 80 million). |
