PJSC Magnitogorsk Iron and Steel Works: MMK announces a change in the ownership structure of its stock

DJ PJSC Magnitogorsk Iron and Steel Works: MMK announces a change in the ownership structure of its stock

PJSC Magnitogorsk Iron and Steel Works (MMK) PJSC Magnitogorsk Iron and Steel Works: MMK announces a change in the ownership structure of its stock 03-March-2022 / 10:02 CET/CEST Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

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PJSC Magnitogorsk Iron & Steel Works ("MMK", or "the Group") (MOEX: MAGN; LSE: MMK), one of the world's 
        largest steel producers, announces that on 3 March 2022 MMK received a notice of a change in its 
        shareholder structure. 
        The corresponding transaction was completed on 28 February 2022, about which the participants in the 
MMK announces  transaction and the Group provided all necessary notifications to the regulatory authorities. 
a change in the As a result of the transaction, 79.76% of the shares of PJSC MMK owned by Mintha Holding Limited 
ownership    (hereinafter referred to as the "Seller") became the property of ALTAIR, LLC (Magnitogorsk, Russian 
structure of  Federation, hereinafter referred to as the "Buyer"). The ultimate beneficiary of both companies is 
its stock    Victor Rashnikov, Chairman of the Board of Directors of PJSC MMK. 
3 march 2022  The Company recalls that, as of 3 March 2022, MMK's free float is 20.24%. 
Magnitogorsk,  MMK emphasises that the restructuring was carried out within the framework of one group of entities. 
Russia     Victor Rashnikov, as the sole participant of the Buyer (ALTAIR, LLC), remains the sole beneficiary of 
        the MMK stock in question. 
 
        The Group notes that this transaction was carried out as part of a previously planned change in the 
        ownership structure of MMK shares by moving from the jurisdiction of Cyprus to that of Russia. The 
        decision to restructure was taken in view of the fact that Cyprus has become less attractive in terms 
        of owning and managing Russian investments, as well as in order to use the advantages created in Russia 
        in terms of corporate regulation and the legal and investment rules existing in the Russian Federation 
        that apply to Russian legal entities and private individuals. During the aforesaid transaction, the 
        actual circumstances that arose last week in financial and stock markets were also taken into 
        consideration. 
About MMK 
MMK is a Russian metals company. The Group's operations in Russia include a large 
steel-producing unit encompassing the entire production chain, from the preparation of 
iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel 
products, with a predominant share of premium products. In 2021, MMK produced 13.6 mln  Subscribe to our official MMK 
tonnes of crude steel and sold 12.5 mln tonnes of commercial steel products.       channel in Telegram, to be the 
                                             first to know about key MMK 
Group revenue in 2021 totalled USD 11,869 mln, with an EBITDA of USD 4,290 mln. MMK   news. 
boasts the industry's lowest debt burden. Net debt/EBITDA ratio was -0.09? at the end of 
2021. The Group's investment-grade rating is confirmed by the leading global rating 
agencies Fitch, Moody's and S&P. 
MMK's ordinary shares are traded on the Moscow Exchange, while its depositary receipts 
are traded on the London Stock Exchange. Free float amounts to 20.2%. 
 
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ISIN:     US5591892048 
Category Code: MSCH 
TIDM:     MMK 
LEI Code:   253400XSJ4C01YMCXG44 
Sequence No.: 146669 
EQS News ID:  1293131 
 
End of Announcement EQS News Service 
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March 03, 2022 04:02 ET (09:02 GMT)