2014 highlights:

• Group capacities were running at 96%, including 100% at the Lipetsk site (Novolipetsk).
• NLMK Group steel output increased by 3.2% y-o-y to 15.9 m t due to higher capacity utilization at NLMK Kaluga and improved productivity at Novolipetsk.
• NLMK Group sales increased to 15.1 m t (+2.0% y-o-y), due mainly to higher product sales at NLMK Kaluga.
• Sales in Russia increased by 13% y-o-y to 6.6 m t, mainly on the back of long product sales growth.
Q4 2014 highlights:
• In Q4 2014, Group steelmaking capacity utilization rate totaled 98%, including 100% at the Lipetsk site.
• NLMK Group steel output increased by 1.1% y-o-y to 4.1 m t, including a 6.8% q-o-q growth at the Lipetsk site bringing facility’s output to its all-time historical high of 3.4 m t driven by the operational efficiency programme.
• NLMK Group sales increased by 7 q-o-q to 3.85 m t on the back of strong demand in external markets and the delayed recognition of previous period sales.
• Export sales increased by 20% q-o-q to 2.3 m t, with sales in external markets accounting for 59% in total sales.

Outlook:

In Q1 2015, we expect operational performance to remain stable q-o-q.

In 2015, steel output is expected at a level comparable to 2014.

Trading update press-release (Q4 2014)
Trading update excel spreadsheet (Q4 2014)

Investor Relations contacts:
Sergey Takhiev
+7 (985) 760 55 74
tahiev_sa@nlmk.com
Media contacts:
Sergey Babichenko
+7 (916) 824 6743
babichenko_sy@nlmk.com
www.nlmk.com