MAGNITOGORSK, RUSSIA-- May 09, 2022 -- PJSC Magnitogorsk Iron & Steel Works (“MMK”, or “the Group”) (MOEX: MAGN; LSE: MMK) notifies about 2024 Eurobond coupon payment in June 2022.

U.S.$500,000,000 4.375 per cent. Guaranteed Notes due 2024 (the “Notes”) issued by MMK International Capital DAC (the “Issuer”)

Common Code: 184343495 / 111730628

ISIN: XS1843434959 / US553142AA88

Pursuant to the Trust Deed entered into between the Issuer, PJSC Magnitogorsk Iron & Steel Works and Citibank, N.A., London branch on 13 June 2019 (the “Trust Deed”), 13 June 2022 is the scheduled payment date for the next coupon payment for the Notes (the “June 2022 Interest”).

Given the existing uncertainty and restrictions regarding the transfer and receipt of funds (including, loan interest and coupon income) in various jurisdictions, in particular, cross-border payments, MMK is considering various options how it may facilitate the payment of the June 2022 Interest. MMK therefore and, in order to ease the payments, kindly requests the Noteholders (as defined in the Trust Deed) to disclose the following information to MMK:

(1) name of the Noteholder and type of Notes in holdings: Regulation S Notes (ISIN: XS1843434959) or Rule 144A Notes (ISIN: US553142AA88);

(2) the notional value of the Notes; and

(3) the location of the depository.

The information should be provided to MMK at ir@mmk.ru with subject “June 2022 Interest - Noteholders”.

Those Noteholders who do not wish to disclose the information requested above at this stage are invited to instruct their brokers/depository to disclose the information about their holding without providing the information on the UBO.