News Release 15 December 2014, Magnitogorsk, Russia MMKS EXTRAORDINARY GENERAL SHAREHOLDER MEETING APPROVED PAYING DIVIDENDS FOR 9 MONTHS OF FISCAL YEAR 2014 OJSC Magnitogorsk Iron and Steel Works (MMK) announces that the company held an extraordinary general meeting of shareholders (in the absentee vote format) on Friday, December 12, 2014. Shareholders have by the majority vote approved the decision to pay dividends on the MMK issued stock based on the company performance for 9M 2014.

Thus, MMK shareholders will be paid RUR 0.58 per common share of the issued stock. Dividend will be paid in cash form and in the manner and within the time limits stated by MMKs Charter.

The cut-off date for eligibility to receive the dividend is set as the end of the business day on 23 December 2014.
Contacts: Investor Relations Department: Andrey Serov, Head of IR tel.: +7 (3519) 24-52-97 E-mail: Communications Department: Sergei Vykhukholev tel.: +7 (499) 238-26-13 E-mail: Dmitry Kuchumov tel.: +7 (499) 238-26-13 E-mail: Kirill Golubkov tel.: +7 (3519) 24-03-02 E-mail: