MMK Announces The AGM Results

PJSC Magnitogorsk Iron & Steel Works ("MMK", or "the Group") (MOEX: MAGN) announces that the Annual General Meeting of Shareholders (the “AGM”) was held in absentia on 26 May 2023. The AGM approved the Annual report and accounts for 2022.

The AGM decided not to pay dividends for FY 2022 and to approve dividend distribution for FY 2022 based on the Board of Directors earlier decisions.

The shareholders also approved:

• The appointment of Pavel Shilyaev as MMK’s CEO;
  

• AO “Business Solutions and Technologies” as MMK’s auditor;
  

• Remuneration and compensation paid to members of the Board of Directors during their performance of duties in 2023-2024 (in the amount of RUB 120 million).