Director/PDMR Shareholding

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name of Natural Person

b)

Legal person

Fletcher Group Holdings Ltd

2

Reason for the notification

a)

Position/status

Fletcher Group Holdings Ltd is a person closely associated with Mr. Vladimir Lisin, the Chairman of Novolipetsk Steel

b)

Initial notification/ Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Novolipetsk Steel

b)

LEI

-

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary Shares

ISIN RU0009046452

b)

Nature of the transaction

Sale of Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

USD 1.701

17,000,000

d)

Aggregated information

- Price

- Volume

- Total

USD 1.701

17,000,000

USD 28,917,000

e)

Date of the transaction

2016-12-08

f)

Place of the transaction

Outside the Trading Venue

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification code

Global Depositary Receipts Representing Ordinary Shares

ISIN US67011E2046

b)

Nature of the transaction

Sale of Global Depositary Receipts

c)

Price(s) and volume(s)

Price(s)

Volume(s)

USD 17.01

7,300,000

d)

Aggregated information

- Price

- Volume

- Total

USD 17.01

7,300,000

USD 124,173,000

e)

Date of the transaction

2016-12-08

f)

Place of the transaction

XLON