At a meeting held on 18 November 2015, NLMK Board of Directors approved the agenda for the Extraordinary General Meeting of Shareholders (EGM) to be held in absentia and recommended that NLMK shareholders approve payment of dividends for Q3 2015 in the amount of RUB11,687 million, or RUB1.95 per share. The shareholders entitled to dividends for Q3 2015 will be determined on 08 January 2016.

NLMK Board of Directors had previously set the date for EGM; the deadline for the receipt of absentee voting ballots; as 21 December 2015. The list of persons entitled to participate at the EGM was prepared on the basis of the NLMK Ordinary Shareholder Register as of 03 November 2015.

NLMK Group presented its new Dividend Policy in March 2015. According to the new policy, the Company pays dividends on a quarterly basis; in an amount of not less than 50% of net income or free cash flow if Net Debt/EBITDA is less than or equal to 1.0x. For more detailed information on NLMK’s Dividend Policy and the history of dividend payments, please visit the Dividends section.

In order to bring the Company’s corporate documents in line with current legislation, NLMK Board of Directors included in the EGM agenda the issue of approving new versions and annulling obsolete versions of NLMK’s corporate documents. The Board of Directors also approved a number of related-party transactions.

For reference:

Q1 and Q2 2015 dividends

In Q2 NLMK paid its shareholders RUB5,574 million rubles, or RUB 0.93 rubles per ordinary share. In Q1 NLMK paid RUB9,829 million rubles, or RUB1.64 rubles per share. NLMK shareholders received a total of RUB15.4 billion, or RUB2.57 per share for H1 2015.

NLMK Group Q3 2015 performance

Q3 2015 free cash flow was $372 million; net income was $410 million. Net debt at the end of Q3 stood at $1.07 billion; Net Debt/EBITDA was 0.5x.

About NLMK Group

NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world. NLMK’s metal products are used in various industries, from construction and engineering to the manufacture of power-generating equipment and offshore wind turbines.

NLMK's production assets are located in Russia, Europe, and the United States. The Company’s liquid steel production capacity is over 17 million tonnes per year, of which about 16 million tonnes are produced in Russia.

The company generated $6.371 billion in revenue; $1.628 billion in EBITDA; and a net profit of 891 million in 9M 2015. Net Debt/EBITDA is 0.5. The company has a BBB- credit rating (Fitch Ratings). NLMK’s ordinary shares are traded on the Moscow Stock Exchange (ticker symbol: NLMK), and its global depositary shares are traded on the London Stock Exchange (ticker symbol: NLMK:LI).