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Novolipetsk Steel

October 25, 2012

Oleg Bagrin elected President of NLMK

NLMK, the leading global steelmaking company, today announced that its shareholders at an Extraordinary General Meeting (“EGM”) elected Mr. Oleg Bagrin as NLMK President (Chairman of the Management Board).

Mr. Bagrin was nominated as President by NLMK’s majority shareholder, in recognition, among other things, of his many years of experience serving on the Board of Directors. Mr. Bagrin has been responsible for overseeing a number of aspects of NLMK’s growth, helping the Company to become an international vertically integrated group. These include the acquisition of the Group’s main assets, NLMK’s successful IPO, and key projects as part of the Company’s Technical Upgrade and Development Programme.

Mr. Bagrin has been serving as Member of the Board of Directors since 2004. He is also Chairman of the Strategic Planning Committee and a member of the Audit Committee. In August 2012, Mr. Bagrin was appointed Executive Vice President of NLMK.

y the trust and confidence the shareholders have placed in me. NLMK is one of the leading global steelmakers. Over the last decade, the Group has made great progress to achieve its leading position and lay the foundations for future growth. Our priorities – the sustainable growth of our business, and safe and efficient production processes – remain unchanged through these challenging times for the steel industry.”

Additional information:

Oleg Bagrin has been a member of NLMK Group’s Board of Directors since 2004. He is Chairman of the Strategic Planning Committee and a member of the Audit Committee. Mr. Bagrin is also a Board member of a number of NLMK subsidiary companies.

He is a Board member of Freight One, a railroad transportation company, and ZAO Libra Capital, an asset management company.

Mr. Bagrin holds a graduate degree in Operations Research and a postgraduate degree in Economics from the State University of Management (Moscow), as well as an MBA from the University of Cambridge (UK).




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