MMK.L Regulatory News (MMK)

MMK BOARD OF DIRECTORS RECOMMENDS DIVIDENDS FOR Q1 2018

08-05-2018, Magnitogorsk

PJSC Magnitogorsk Iron & Steel Works ("MMK" or "the Company", ticker: MMK:LI) announces that on 7 May 2018 its Board of Directors recommended that the Extraordinary General Meeting of shareholders scheduled for 13 June 2018 approve a dividend of RUB 0.801 (before taxes) per share, representing a total of approximately USD 145 mln at the current exchange rate, for the first three months of 2018 on MMK's issued ordinary registered shares.

The Board of Directors also approved a resolution to convene an extraordinary general meeting of shareholders (EGM) with absentee voting, and approved the agenda for the EGM as follows:

The Board of Directors determined the:

- cut-off date for receipt of voting forms - 13 June 2018;

- postal address for delivery of the filled-up ballots:

- Magnitogorsk Branch of Joint Stock Company "Registry Society "STATUS", Karl Marx prospect, 212, Magnitogorsk, 455008.

- the website address where the electronic form of the voting ballot can be completed: https://online.rostatus.ru/.

- the e-mail address to which the persons entitled to participate at the annual general shareholders' meeting can send their completed voting ballots: shareholder@mmk.ru.;

- record date for shareholders to participate in the EGM - close of business on 21 May 2018.

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 complex 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 2017, the company produced 12.9 million tonnes of crude steel and 11.6 million tonnes of commercial steel products. MMK Group had sales in 2017 of USD 7,546 million and EBITDA of USD 2,032 million.

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