Investor Presentaiton

1. • • • Maxi-Group Financial Highlights 2007 highlights - Revenue USD 1,068 m EBITDA USD 156 m EBITDA margin 15% External debt USD 1.7 bn as at 31.12.2007 Production costs are 77% scrap, 1H 2008 ,000 USD - 100% of scrap supplied internally - New technology and equipment lower costs 2,500 Appendices > Maxi-Group Financial Highlights Revenue and EBITDA¹ 2,000 1,500 1,000 1068 500 156 0 Low transportation costs due to local scrap collection and customers Production costs, 1H 2008 - Billets USD 526 per tonne - Rebar USD 570 per tonne - Wire rod USD 581 per tonne Management estimate based on Russian Accounting Standards (RAS) Based on non-consolidated Russian Accounting Standards 2007 ■Revenue 2600 EBITDA ~21% 2008E ■ EBITDA 540 Billets cost structure H1 2008 Scrap 77% Alloys 10% Energy 5% Personnel 1% Depreciation 1% Repair 4% Other 2%

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