Magnitogorsk Iron and Steel Works (MMK) will issue the Company's digital financial assets (DFAs) on the Sber platform, following an agreement concluded by MMK CEO Pavel Shilyaev and Deputy Chairman of the Management Board of Sberbank Anatoly Popov. The document on cooperation in the area of DFAs was signed at the 27^th St Petersburg International Economic Forum (SPIEF).

The two sides agreed to jointly implement state-of-the-art technologies for managing financial products and resources, and to improve operational efficiency by optimising business processes and technologies. The parties also agreed to develop customised financial solutions, technologies and service conditions tailored to the specifics of MMK's operations.

Pavel Shilyaev, CEO of MMK:

“MMK is one of the first in the industry to enter the market of new financial instruments, which make it possible to diversify the debt portfolio and ensure its balance and stability. We consider this to be a promising area for us, as the issuance of DFAs offers a unique opportunity to expand and qualitatively grow our investor base, as well as to attract new creditors from among not only legal entities but also individuals. We are pleased to sign an agreement with Sber in this area and take part in the development of Russia's digital financial assets market."

Anatoly Popov, Deputy Chairman of the Management Board of Sberbank:

"A growing number of Russian companies are using our digital assets platform to issue DFAs. And we are pleased that MMK, one of the world's leading steelmakers, has become Sber's partner in this area. This agreement will strengthen our cooperation and stimulate the development of high-tech tools for attracting investment in Russia. I believe that for MMK, DFAs will become an effective tool to manage funding and liquidity.”

DFAs are a financial instrument in digital format. The issuance, accounting and circulation of such instruments are carried out in an information system based on a distributed registry using blockchain technology, which guarantees data immutability.

PJSC MMK is one of the world's largest steel producers and holds leading positions among ferrous metallurgy companies in Russia. The Company's assets in Russia comprise a large metallurgical complex featuring a full production cycle, from preparation of iron ore raw materials to deep processing of ferrous metals.

PJSC Sberbank is one of the largest banks in Russia and one of the leading financial institutions worldwide. Sberbank accounts for approximately one third of the assets of the entire Russian banking sector. Sberbank is a key lender to the national economy and holds one of the largest shares in the deposit market.