Moscow, Russia– June 1, 2020 – Mechel PAO (NYSE: MTL, MOEX: MTLR), a leading Russian mining and metals company, announces the decisions made by its Board of Directors at a meeting held on May 29, 2020.

The Board of Directors made the following recommendations to the general meeting of Mechel PAO’s shareholders:

·                                 not to pay an annual dividend with respect to ordinary shares;

·                                 to pay an annual dividend of 3.48 rubles per one preferred share;

·                                 hat the list of persons entitled to receive dividends for 2019 be made based on the data in the Mechel PAO Shareholders’ Register as of July 17, 2020.

The Board of Directors also recommended the general meeting of Mechel PAO’s shareholders to approve dividing 2019 net profit as follows:

·                                 to allocate 482,874,064.20 rubles for payment of dividends for listed preferred shares;

·                                 to leave the remainder of profit (1,508,353,153.10 rubles) unallocated.

The annual general meeting of shareholders will be held on June 30, 2020 by absentee voting.

Filled vote bulletins may be mailed to 125167, Moscow, Krasnoarmeiskaya St, 1, Mechel PAO.

The bulletins may be filled at https://lk.rrost.ru

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Mechel PAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@mechel.com