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NLMK's key principles of sustainable

development:

NLMK IS THE UN GLOBAL COMPACT'S PARTICIPANT

Selected non-financial indicators for 2019 were independently verified

1.91 t/t

97%

4th

53%

92%

NLMK's CO2 specific emissions target by 2023

of water used in production is recycled

Every 4th tonne of steel is made of scrap

Reduction in air emissions intensity (per tonne of steel) 2000-2018

of generated waste is reused

56%

16k

18k

5.6%

Reduction in

LTIFR since 2013

More than 16K employees passed safety trainings in 2019

SOCIAL

In 2019, 18,000 of training sessions were achieved at NLMK's Corporate University

Turnover rate

The Group's governance structure and

practices are aligned with G20/OECD Principles of Corporate Governance, Russia's Corporate governance code

Focus is on superior shareholder returns - dividend policy provides visibility and predictability

Voting rights: "one share/one vote", equitable treatment for all shareholders

The company's Board of Directors:

• Reputable board with superior track record
• Directors are not over-boarded with mandates
• Board performance is evaluated annually

Remuneration system based on clear KPIs, including ESG targets

COMMITTEES WITH A MAJORITY OF

INDEPENDENT DIRECTORS

Independent directors

33%

67%

67%

33%

NLMK's approach to sustainability management is governed by

Sustainable Development Policy (SDP) approved by the Board in October 2019

The Board's activity covers every ESG

aspect

The Board is responsible for the complying with Sustainable Development Policy as well as for defining goals and objectives

STRATEGIC PLANNING

COMMITTEE

Sustainability risks assessment

Environmental targets and respective investment program:

• Emissions, including greenhouse gases
• Discharges and waste
• Resource utilization

AUDIT COMMITTEE

Sustainability performance monitoring and reporting

Audit oversight of non-financial information

HR, REMUNERATION &

SOCIAL POLICIES COMMITTEE

Personnel and social issues:

• Employment and work
• Occupational health and safety
• Training and development
• Social policy
• Diversity and equal opportunities
• Non-discrimination
• Local communities

Integration of sustainability KPIs within the remuneration system

NLMK's governing document: Integrated Management System Policy in Quality, Environmental Protection, Energy Efficiency, Occupational Health and Safety

OHSAS 18001:2077 certified; ISO 45001:2018 is in process

In 2019, about $100 m was invested in safety systems and equipment

"No blame" policy for incidents reporting The company is signatory of "Vision Zero"*

Safety development programs

• Safety culture programs and communications
• Contractors management
• Safety risk management

Targets:

• Zero fatalities
• LTIFR of 0.5 (vs. 0.84 in 2018 as per WSA)

LOST TIME INJURY FREQUENCY RATE (LTIFR*)

• LTIFR refers to Lost Time Injury Frequency Rate, the number of lost time injuries? occurring in a workplace per 1 million
  man-hours worked, employees and contractors
• Worldsteel data

Measurable target to reduce CO2 emissions by 2023

NLMK's (Lipetsk site) CO2 intensity will be close to 30% of the most efficient mills in the world by 2023

NLMK joined Worldsteel's Step Up program to search ideas for further improvement in CO2 efficiency

Portfolio of projects for future footprint reduction

NLMK is a strategic partner for Russia's first green startup accelerator

DIRECT & INDIRECT CO2 EMISSIONS DYNAMICS

t/t NLMK Group (Scope 1+2)

2.04

1.98

1.91

*Adjusted for temporary production decrease at the Lipetsk site, based on 2018 Group's steel output

CO2 EMISSIONS INTENSITY TARGET

t/t NLMK Group, (Scope 1+2)

Strategy 2022 envisages construction of the 3rd captive power plant at NLMK Lipetsk:

• The power plant will run on by - product fuel gases
• Leveraging successful experience of by-product gases reuse
• Unique technology for Russia of utilizing basic oxygen furnace gas
• Positive environmental impact

In 2019, NLMK Group signed the contracts for the supply of the main equipment, and design of the plant is in progress

ENERGY SELF-SUFFICIENCY TARGETS, NLMK LIPETSK

ADDITIONAL PROJECT INDICATORS

NLMK targets to increase production of electrical steel (GO and NGO) at its Russian facilities for global markets to benefit from growing energy demand and shift to low carbon economies:

• +0.1 m t of high grade GO for more efficient power and distribution transformers
• +0.1 m t of premium grade NGO for electric vehicles and energy-efficient motors

TARGET ELECTRICAL STEELS SALES, m t

NLMK's Dansteel (Denmark) is a leading producer of steel plates used for wind energy equipment in Northern Europe

The wind energy market trends in the EU:

• Steel consumption by the wind energy sector is expected to rise significantly in the EU driven by the Clean Energy for All Europeans legislative package

NLMK's targets:

• +0.2 m t production growth

TARGET PREMIUM PLATES SALES BY DANSTEEL, m t

3.6x

0.3

0.10.1

NLMK has substantially reduced water consumption in relative (per tonne of steel produced) and absolute terms

The Group doesn't operate in water- stressed areas

All of NLMK's production facilities are equipped either with closed loop water systems (no waste water discharge) or water recycling solutions

Target:

• Minimizing water consumption

WATER CONSUMPTION & USE INTENSITY

96.5%

96.4%

96.3% 96.3%

NLMK targets lower waste generation and higher share of

WASTE RECYCLING

%, NLMK Russia, excl. mineral waste

waste reuse in its operations to 96% by 2023

Briquetting plant launched in May 2019:

96%

94%

92%

89%

87%

?

WASTE GENERATION INTENSITY

t/t, NLMK Group

4.0

3.63.43.6

2.9

NLMK Group employs 52.8 thousand people

Employee turnover rate increased in 2019 due the implementation of the program to increase labor productivity

Regular staff satisfaction surveys are conducted

Feedback channels were developed and launched

Group employees completed 52.9 training sessions in 2019

Men Women

Tools for community engagement:

INVESTMENTS IN SOCIAL PROGRAMMES IN 2019

• Assessment of existing social programmes
• Direct engagement via dedicated channels
• Public hearings
• Cooperation with regional governments
• "Steel tree" project - a grant competition for social and environmental public initiatives

7%

39%

Monetary support and benefits

Medicine and health improvement

Transport to/from work

Local communities development?

Corporate meals

Mass sports and cultural events Pensions co-financing

Adhering to UN Global Compact principles on human rights and labor

• Human Rights Policy and Corporate Ethics Code are in place to reflect issues around respect of human rights

Key developments 2019:

• NLMK Group joined the UN Global Compact
• Participated in the BHR Peer Learning Series hosted by the Office of the UN High Commissioner for Human Rights and the UN Working Group on Business and Human Rights
• Member of the Committee on Corporate Social Responsibility and Demographic Policies of the Russian Union of Industrialists and Entrepreneurs (RSPP)

FUNDAMENTAL HUMAN RIGHTS PRINCIPLES AT NLMK

Continuous improvements across the board resulted in NLMK's ESG ratings upgrades by the leading research agencies in the area of sustainability

Sustainalytics revised NLMK's ESG rating score from the 31.5 in 2019 to 28 this year: the lower the number - the stronger management of ESG issues by a company

NLMK is currently ranked among top-3 steel companies analyzed by Sustainalytics

NLMK remained a constituent of the FTSE4Good Index following June 2020 review

Out of 100

NLMK NLMK NLMK Industry

2018 2019 2020 average score

FTSE RUSSELL ESG RATING

Max 5

Max AAA