Press release

26 July 2019

NLMK Board of Directors recommends dividends for Q2 2019

At a meeting held on 25 July 2019, the Board of Directors of NLMK Group (LSE: NLMK, MOEX: NLMK), a vertically integrated steel company, recommended the Company's shareholders approve Q2'19 dividend in the amount of RUB 3.68 per share at the upcoming Extraordinary General Shareholders Meeting (EGM), which will take place on 27 September 2019.

The list of persons eligible to participate in the EGM will be compiled as of 2 September 2019. The Board of Directors also recommended that shareholders set 10 October 2019 as the date upon which the list of shareholders eligible to receive Q2'19 dividend is determined.

Dividend yield* for Q2'19 amounts to 14.6%. The total amount of Q2'19 dividends payable to shareholders is equivalent to 136% of the Company's free cash flow based on its IFRS consolidated results for the corresponding period.

Previously, at the EGM held on 7 June 2019, NLMK shareholders approved Q1'19 dividends in the amount of RUB 7.34 per share. Total Q1'19 and Q2'19 dividends will amount to RUB 11.02 per share.

For more information about NLMK Group's dividend policy, please visit NLMK's website.

 *Dividend yield is calculated as a sum of dividends per share for the past four quarters converted to US Dollars at the exchange rate on the date of quarterly dividend announcement divided by the close price on 25 July 2019. 

About NLMK Group

NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world.

NLMK Group's steel products are used in various industries, from construction and machine building to the manufacturing of power-generation equipment and offshore wind turbines.

NLMK operates production facilities in Russia, Europe and the United States. The Company's steel production capacity exceeds 17 million tonnes per year.

NLMK has the most competitive cash cost among global manufacturers and one of the highest profitability levels in the industry. In 12M 2018, the Company generated $12 billion in revenue and $3.6 billion in EBITDA. Net debt/EBITDA stood at 0.25х. The Company has investment grade credit ratings from S&P, Moody's, Fitch and RAEX (Expert RA).

NLMK's ordinary shares with a 19% free-float are traded on the Moscow Stock Exchange (ticker "NLMK") and its global depositary shares are traded on the London Stock Exchange (ticker "NLMK:LI"). The share capital of the Company is divided into 5,993,227,240 shares with a par value of RUB1. For more details on NLMK shareholder capital please follow the link.

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