13 August 2014

NLMK Board of Directors resolves to hold Extraordinary General Meeting of Shareholders and approves its agenda

NLMK’s Meeting of the Board of Directors, held on August 13, 2014, resolved to convene an Extraordinary General Meeting of Shareholders (EGM) in the form of absentee voting. The deadline for the receipt of voting ballots (the date of the EGM in the form of absentee voting) was fixed at September 30, 2014. According to the EGM agenda, approved by the Board of Directors, Shareholders will vote on the payment (declaration) of dividends for H1 2014 on NLMK ordinary shares.

The list of persons entitled to participate at the EGM will be prepared on the basis of the NLMK Ordinary Shareholder Register as of August 24, 2014.

H1 2014 dividend recommendation

NLMK Board of Directors recommended that the General Shareholders' Meeting approve dividends for H1 2014 on ordinary issued shares in the amount of RUB 0.88 in cash per one ordinary share. The Board of Directors also recommended to set the date on which shareholders entitled to the dividends will be determined: 11 October 2014.
The total dividend payout will amount to USD 150 million, or 45% of NLMK US GAAP consolidated net profit for H1 2014.

Decisions on Group business activities

As part of the Group’s business activities, NLMK Board of Directors approved the maximum remuneration to be paid to ZAO PricewaterhouseCoopers Audit for conducting an audit (review) of the Company’s consolidated financial statements in accordance with US Generally Accepted Accounting Principles (US GAAP), and Russian Accounting Standards (RAS) statements. NLMK Board of Directors also approved several related-party transactions.

About NLMK Group

NLMK Group is a vertically integrated steel company and Russia’s leading steel maker and manufacturer of rolled products with high added value. NLMK’s high-quality metal products are used in various industries, from construction and engineering to the manufacture of power-generating equipment and offshore wind turbines.

NLMK's production assets are located in Russia, Europe, and the United States. The Company’s liquid steel production capacity is over 17 million tonnes per year, of which about 16 million tonnes are produced in Russia. The Company generated USD 10.9 billion in revenue, and EBITDA of USD 1.5 billion in 2013.

NLMK’s ordinary shares are traded on the Moscow Stock Exchange (MICEX-RTS, ticker symbol: NLMK), and its global depositary shares are traded on the London Stock Exchange (ticker symbol: NLMK:LI).