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Novolipetsk Steel

December 27, 2021

NLMK and ROSATOM initiate collaboration in hydrogen production

NLMK Group, a global steel company, and Rusatom Overseas (part of ROSATOM State Corporation) have signed a cooperation agreement in the field of hydrogen production and the development of technologies for CO2 capture and utilization.

The agreement sets out joint R&D efforts in hydrogen production technologies (such as water electrolysis, steam methane reforming with CO2 capture, methane pyrolysis) and piloting hydrogen production projects. As part of the collaboration, the parties also plan to assess the technical and commercial aspects of producing climate-neutral hydrogen.

Sergey Chebotarev, NLMK Group Vice President for Energy and the Environment, said:

«The use of low-carbon hydrogen is a promising area in steelmaking development. It will enable lower consumption of carbon-containing resources. ROSATOM is Russia’s industry leader in the production of zero-carbon energy, and we will work together to promote the use of hydrogen in steelmaking.»

Evgeny Pakermanov, President of Rusatom Overseas, said:

«We see interest in hydrogen technologies from leading industrial companies, and we are happy to cooperate with NLMK Group, a major international player in the steelmaking sector. We are convinced that hydrogen technologies will fill a solid market niche in the countries and regions that set ambitious goals of reducing CO2 emissions in the very near future, and we are developing our own know-how solutions across the entire lifecycle of hydrogen, including promising technologies for the production of low-carbon hydrogen.»

About NLMK Group

NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world.

NLMK Group’s steel products are used in various industries, from construction and machine building to the manufacturing of power-generation equipment and offshore wind turbines.

NLMK operates production facilities in Russia, Europe and the United States. The Company’s steel production capacity exceeds 17 million tonnes per year.

NLMK has a highly competitive cash cost among global manufacturers and one of the highest profitability levels in the industry. The Company has investment grade credit ratings from S&P, Moody’s, Fitch, and Expert RA.

NLMK’s ordinary shares with a 20.7% free-float are traded on the Moscow Stock Exchange (ticker "NLMK") and its global depositary shares are traded on the London Stock Exchange (ticker "NLMK:LI"). The share capital of the Company is divided into 5,993,227,240 shares with a par value of RUB1. For more details on NLMK shareholder capital, please follow the link.

For more details on NLMK Group, please visit our website.

For NLMK Group’s photos and corporate videos, please visit our media library.

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