NLMK shareholders at the Annual General Meeting today approved the payment of dividends for FY2015 and Q1 2016. They voted to confirm Oleg Bagrin as the Group’s Chief Executive Officer; and to elect a new Board of Directors, including five independent directors.

At the Annual General Meeting on June 3rd in Lipetsk, NLMK shareholders approved the payment of dividends for FY2015 in the amount of 6.95 rubles per ordinary share. Taking into account the interim dividends paid for 9M 2015 in the amount of 4.52 rubles per ordinary share, the amount outstanding to be paid in dividends for Q4 2015 is 2.43 rubles per ordinary share. Shareholders also approved the payment of dividends for Q1 2016 in the amount of 1.13 rubles per ordinary share. The date upon which the shareholders entitled to receive dividends for Q4 2015 and Q1 2016 will be determined was set as June 14th 2016.

Shareholders voted to confirm Oleg Bagrin as the Group’s Chief Executive Officer; and to elect a new Board of Directors, which for the first time ever was comprised mainly of independent directors.

Company shareholders also approved the Company’s 2015 annual report and annual financial accounts and income statements (‘financial results report’). Nine members of the Board of Directors were elected, including five independent directors: Vladimir Lisin, Oleg Bagrin, Nikolai Gagarin, Tomas Veraszto (new member, independent director), Helmut Wieser (independent director), Karen Sarkisov, Stanislav Shekshnya (independent director), Benedict Sciortino (independent director) and Franz Struzl (independent director).

Shareholders approved the payment of remuneration to members of NLMK’s Board of Directors; elected members of Audit committee and approved the Auditor.

Dividend payments

2015 accrued dividends amounted to 41,653 million rubles equivalent to 67% of NLMK Group’s net profit or 65% of the Company’s free cash flow based on its 2015 IFRS consolidated results. In 2015, dividend payments amounted to 20,677 million rubles.* Dividend yield ** on accrued dividends for FY2015 and Q1 2016 is 12.7% and 7.6% respectively.

* Dividend payments include 5,274 million rubles of dividends for H2 2014 and 15,403 million rubles of dividends for Q1 and Q2 2015.

** Dividend yield is calculated as the sum of accrued dividends for the period, divided by the sum of the company’s market capitalization on the last day of the relevant period, y-o-y.

A detailed description of the NLMK Dividend policyand history of dividend paymentscan be found on the Group website in the dividend section.