Mariupol's'kyi MK im Illicha VAT : Metinvest scheme of arrangement sanctioned by english court

[Attachment]Metinvest B.V., the parent company of a vertically integrated group of steel and mining companies (the 'Company'), is pleased to announce that the English court has sanctioned the scheme of arrangement to implement its financial restructuring.

Following a court hearing on 17 January 2017, the English court ordered that separate meetings of (i) the holders of certain notes issued by the Company (the 'Noteholders') and (ii) the lenders under certain pre-export finance facilities (the 'PXF Lenders') be convened for the purposes of voting on the proposed scheme of arrangement (the 'Restructuring Scheme').

At the scheme meetings, which were held on 6 February 2017, almost 100% of Noteholders and 100% of PXF Lenders present and voting at the relevant scheme meeting voted in favour of the Restructuring Scheme.

A further court hearing, at which the Company sought English legal sanction of the Restructuring Scheme, took place on 8 February 2017. Following that hearing, the English court granted an order sanctioning the Restructuring Scheme. Accordingly, the effective date of the Restructuring Scheme was 8 February 2017.

Commenting on the developments, Metinvest CEO Yuriy Ryzhenkov said: 'On behalf of the Metinvest group, I would like to thank all of our creditors for their support, as well as the ad hoc committee of Noteholders and coordinating committee of PXF lenders for their dedication and cooperation. Metinvest is proud to remain a participant in the international debt and capital markets.'

Documentation relating to the Restructuring Scheme is available on the following website: www.lucid-is.com/metinvest