09 June ‘20

MMK Board of Directors announces results of vote in absentia

PJSC Magnitogorsk Iron & Steel Works ("MMK" or "the Company") (MICEX-RTS: MAGN; LSE: MMK), one of the world's largest steel producers, announces that the MMK Board of Directors completed its voting in absentia on June 5, 2020.

The Board of Directors made the following decisions:

Viktor Rashnikov was elected Chairman of the Board.

Four committees were created within the Board:

- Audit Committee (Chairman: Kirill Levin);
- HR and Remuneration Committee (Chairman: Valeriy Martsinovich);
- Strategic Planning Committee (Chairman: Viktor Rashnikov);
- Committee on Labour Protection, Industrial Safety and Ecology (Chairman: Tav Morgan).

Kirill Levin was also named an Independent Member of the Board.

In addition, the Board approved a new version of the Regulations on Committees of the Board of Directors, as well as the work plan of the Board for 2020-2021. Board members also made several decisions on procedural issues.

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