Financial results of Metalloinvest for 2016

Metalloinvest, the world's leading iron ore and HBI producer and a regional producer of high quality steel, has released its audited IFRS financial results for the year ended 31 December 2016. Financial Indicators Income USD 4261 million (-3.0% year on year); EBITDA USD 1,258 million (-12.2%); EBITDA margin of 29.5% versus 32.6% in 2015; Net income of USD 1,153 million against USD 218 million in 2015; Net debt USD 3161 million (-11.3% compared to December 31, 2015); Net Debt /EBITDA 2.5x, flat versus 31 December 2015; Capital expenditures USD 290 million (-30.5%); Total assets of USD 6201 million (-6.3% compared to December 31, 2015). Performance Indicators Iron ore 40.7 million tons (+ 3.1%); Pellets 25.2 million tonnes (+ 5.9%); HBI /DRI 5.7 million tonnes (+ 4.8%); Pig iron 3.0 million tons (+ 20.2%); Crude steel 4.7 million tonnes (+ 3.6%); Operations and Capital Expenditures Achievement of design capacity at OM # 3 at Mikhailovsky GOK; Launching blast furnace No. 4 at Ural Steel after the completion of overhaul and modernization; Commissioning of the second gas purification unit in the electric arc furnace of the OEMK workshop; Completion of cold tests at HBI-3 plant at Lebedinsky GOK.