OREANDA-NEWS. Metalloinvest, a leading global iron ore and HBI producer, today announces its IFRS financial results for the six months ended June 30, 2013.

FINANCIAL HIGHLIGHTS

Revenue USD 3,807 mn (+1.9% h-o-h ) [1]

EBITDA USD 1,230 mn (+35.0%)

EBITDA margin 32.3% vs. 24.4% in H2 2012

Net Income USD 621 mn (+50.7%)

Net Debt USD 5,591 mn (-6.9% compared to December 31, 2012)

Net Debt / EBITDA LTM [2] 2.61x vs. 2.35x as at end-2012

Capital expenditures USD 235 mn (-7.1%)

Total assets USD 9,740 mn (-5.9% compared to December 31, 2012)

PRODUCTION HIGHLIGHTS

Iron ore 19.2 mn tonnes (-3.5%)

Pellets 11.1 mn tonnes (-0.9%)

HBI/DRI 2.7 mn tonnes (+8.0%)

Hot metal 1.1 mn tonnes (+10.0%)

Crude steel 2.4 mn tonnes (-14.3%)

CORPORATE HIGHLIGHTS

Operational developments

Construction and assembly works at Pellet Plant #3 at MGOK

Completion of project documentation stage for HBI-3 at LGOK

Signing contracts for purchase of new high-performance machinery: Hitachi excavators and BelAZ and Caterpillar trucks

Launch of the new gas purification unit at OEMK

Ongoing construction of coke-oven battery #6 construction at Ural Steel

Corporate events

Signing of three-year contract with Severstal to supply approximately 3 million tonnes of iron ore

Debut release of the Company’s quarterly IFRS financial results

Upgrade of Metalloinvest’s Moody’s credit rating from ‘Ba3’ to ‘Ba2’ with a Stable outlook

Revision of Fitch rating outlook to Positive on the Metalloinvest ‘BB-‘ long-term issuer default rating

Affirmation of Metalloinvest’s S&P ‘BB-‘ long-term rating with a Positive outlook

Finance & Corporate Governance

Issue of RUB 10 bn 8.9% RUB-denominated unsecured corporate bonds maturing in 2023 with an early redemption option in 2018

Issue of USD 1,000 mn 5.625% Eurobonds maturing in 2020

Repayment ahead of schedule of USD 1,250 mn of the syndicated loan (PXF)

Social responsibility and Public Relations

Signing of Social Partnership Programmes for 2013 with the administrations of Belgorod and Kursk regions and the town of Zheleznogorsk

Pavel Mitrofanov, Deputy CEO - Chief Financial Officer of Management Company Metalloinvest, commented:

“The first half of 2013 was marked by positive changes in corporate governance and transparency of the Company due to changes in the composition of the Board of Directors and transition to quarterly disclosure of the key financial indicators. Align with these changes the rating agencies rewarded the Company with better credit profile assessments despite the difficult situation in the industry.

Furthermore, in the first half of 2013, the Company reduced its total debt by USD 500 mn, which, along with the optimisation of the debt portfolio through issuing a 7-year Eurobond, improved the Company’s debt structure”.

[1] Hereinafter comparison with H2 2012 unless indicated otherwise

[2] EBITDA LTM stands for EBITDA for the last 12 months