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Novolipetsk Steel

December 20, 2022

Update on NLMK's depositary receipt programme

Novolipetsk Steel (NLMK) announces the termination of its depositary receipt programme for common shares due to the decision by Deutsche Bank Trust Company Americas (Depositary Bank) to terminate the deposit agreement effective on 18 January 2023 (for details, see

Receipt holders retain the right to convert them into common shares of Novolipetsk Steel within six months from the date of the deposit agreement termination. Current restrictions in investment and banking operations could make the procedure challenging. Once the six-month period lapses, the Depositary Bank can sell the remaining common shares of Novolipetsk Steel represented by the receipts and transfer the proceeds into a special account to be distributed among the receipt holders (less the amounts due to the Depositary Bank).

For questions regarding further steps by the depositary receipt holders in connection with the deposit agreement termination, including questions on receipt conversion into common stock, it is recommended to contact Deutsche Bank Trust Company Americas at

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 18 million tonnes per year.

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 information about NLMK Group, please visit our website.

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