NLMK Group is pleased to announce FY2014 and Q4 consolidated financial results under US GAAP

• Group’s steelmaking capacities were running at 96%
• Steel output increased to a record 15.9 million tonnes, driven by higher output at the Lipetsk site and increased capacity utilization at NLMK Kaluga
• Sales increased by 2% year-on-year to 15.1 million tonnes
• 2014 revenue totaled $10,396 million (-5% year-on-year)
• EBITDA grew by 58% to $2,383 million
• EBITDA margin increased to 23% (from 14% in 2013)
• Investment was down by 26% to $560 million
• Free cash flow increased by 174% to $1,155 million on the back of profitability growth and lower investment • Net debt reduced by 41% year-on-year to $1,590 million
• Net debt/EBITDA was 0.67x (1.8x at the end of 2013)
• Net income increased by 4.5 times year-on-year to $845 million

• Steelmaking capacities were running at 98%
• Steel output totalled 4.1 million tonnes (-1% quarter-on-quarter)
• Sales increased by 7% quarter-on-quarter to 3.8 million tonnes
• EBITDA was $627 million (-9% quarter-on-quarter and +53% year-on-year)
• EBITDA margin was 27% (flat quarter-on-quarter; +11 p.p. year-on-year), including 30% at the Steel Segment