Production results of Metinvest for the 3rd quarter and 2020

During the 3rd quarter of 2020, pig iron production increased by 17% compared to the previous quarter
- up to 2,305 thousand tons - thanks to the launch of two blast furnaces at the Mariupol plants in May
due to the recovery in market demand. As a result, the production of pig iron at the Azovstal Iron and Steel Works
(Azovstal) increased by 186 thousand tons, and at MMK im. Ilyich (IMCI) - by 143 thousand. tons.

Steel production in the 3rd quarter of 2020 increased by 22% compared to the previous quarter
- up to 2,188 thousand tons - due to an increase in the production of pig iron at both plants.
For 9 months of 2020, compared to the same period in 2019, pig iron production
increased by 5% - to 6,371 thousand tons - due to an increase in production at Azovstal by 226 thousand tons in
as a result of launching a high-performance blast furnace No. 3 after a major overhaul with
modernization in June 2019. In addition, the production of pig iron at the MMKI increased by 104 thousand tons
mainly due to the shutdown of blast furnace No. 5 for repairs in May-July 2019.
Steel production in 9 months of 2020 increased by 4% compared to the same period
last year - up to 6,151 thousand tons - mainly due to an increase in production at MMKI by 168
thousand tons due to the redistribution of pig iron in favor of steel production and the launch of a new
equipment. Production growth at Azovstal by 78 thousand tons is caused by an increase in production
cast iron.
In the 3rd quarter of 2020, the production of semi-finished goods increased by 11% in relation to
the previous quarter - up to 980 thousand tons - due to an increase in the production of commercial slab by 152
thousand tons due to recovery in market demand. At the same time, the production of commercial pig iron
decreased by 52 thousand tons, mainly as a result of the redirection of liquid iron MMKI for
steel production and subsequent processing.

During 9 months of 2020, the production of semi-finished products increased by 11% compared to the same period in 2019 - up to 2,497 thousand tons - mainly due to an increase in production
of commercial slabs at the Mariupol plants for 247 thousand tons due to the launch of a new machine
continuous casting of billets No. 4 at IMCI and the availability of demand.

In the 3rd quarter of 2020, the production of finished goods increased by 15% in relation to
in the previous quarter - up to 1,488 thousand tons - due to an increase in the order book. Namely:
- production of flat products increased by 66 thousand tons - up to 1,171 thousand tons - mainly
due to the recovery in demand for hot rolled thick plate and galvanized coil;
- production of long products increased by 87 thousand tons - up to 242 thousand tons;
- production of rail products increased by 28 thousand tons - up to 34 thousand tons - on the back of demand
from the Ukrainian railways;
- production of pipe products increased by 13 thousand tons �