Novolipetsk Steel announced the results of the meetings held on 26 September 2022 for each of the outstanding EUR 500,000,000 1.45%. loan participation notes due 2026 issued by Steel Funding D.A.C. for the sole purpose of financing a loan to the Borrower. Capitalised terms used in this announcement but not defined herein have the meanings given to them in the Consent Solicitation Memorandum for the 2026 EUR Notes dated 12 August 2022 (as amended from time to time).

Description of the Notes: EUR 500,000,000 1.45%. Aggregate Principal Amount Outstanding: EUR 500.000 million. Amendment Extraordinary Resolution.

By passing the Amendment Extraordinary Resolution, the holders of the 2026 EUR Notes approved the Amendment Documents relating to 2026 EUR Notes, including, modifications to the Trust Deed, the Conditions, the Paying Agency Agreement, the Loan Agreement and Global Certificates. By passing the Waiver Extraordinary Resolution, the holders of the 2026 EUR Notes approved a waiver of any breaches by the Issuer and NLMK resulting from the non-payment of interest on the 2026 EUR Notes and the corresponding amount of interest under the Loan Agreement until 31 December 2022 (inclusive).