Investor Presentaiton

Domestic growth > Portfolio development Portfolio Development and Earnings Growth A key supplier of HVA products in Russia to meet accelerating demand NLMK main site production 2007 vs. 2012E • HVA products sales are concentrated in Russia 9% 1% • Domestic economy growth drives earnings 100% 7% 6% increase 80% 9% 16% Other ■Electrical 6% 7% 14% 60% 12% Coated • Customer base located in the European 16% 26% ■ P&O 40% Russia close to main production site ■ HRC 20% 40% 31% ■CRC 0% ■Slabs 2007 2012E NLMK domestic market sales (2002-2007E) Domestic sales revenue distribution ,000 USD 83% 3750 CAGR = 30% 80% ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ 2900 61% 62% 63% 3000 59% 2474 60% 41% 2250 --1883- 39% 38% 1628 37% 40% 1500 -1043- 662 20% 17% 750 0 0% 2002 2003 2004 2005 2006 2007 2004 2005 2006 2007 2012E 1. includes CRC, HDG, pre-painted and electrical steels ■High value-added products (HVA) Pig iron and HRC 12

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