MMK announces the AGM results

PJSC Magnitogorsk Iron & Steel Works ("MMK", or "the Group") (MOEX: MAGN; LSE: MMK) announces that the Annual General Meeting of Shareholders (the “AGM”) was held in absentia on 30 June 2022. The AGM approved the Integrated annual report and accounts for 2021.

The AGM decided not to pay dividends for Q4 2021 and to approve dividend distribution for FY 2021 based on the Board of Directors earlier decisions. For Q1 2021 the dividends were paid in the amount of RUB 20,057.9 mln (RUB 1.795 per share, incl. tax), for Q2 2021 in the amount of RUB 39,445.4 mln (RUB 3.53 per share, incl tax), for Q3 2021 in the amount of RUB 29,757.2 mln (RUB 2.663 per share, incl. tax).

The shareholders approved:

• PricewaterhouseCoopers Audit (after renaming - “Technologies of Trust – Audit” JSC) as MMK’s auditor;
  

• Remuneration and compensation paid to members of the Board of Directors during their performance of duties in 2022-2023 (in the amount of RUB 120 million).