Investor Presentaiton

. • • Compelling Investment Case Gaining international leadership NLMK today > Compelling investment case Efficiency leader with sustainable performance · Highly efficient steel company with superior EBITDA/tonne generation. • · Sustainable EBITDA margin over 40% for the last 5 years Revenues +28% y-o-y, operating income +34% y-o-y, EBITDA +28% y-o-y (2007) Securing leadership in the Russian market • • - Increasing exposure to the dynamic domestic market – Maxi-Group acquisition An ambitious growth plan covering the period of up to 2015 - USD8.5 bn Technical Upgrade Program* Present in highly dynamic and diversified market segments Strengthening vertical integration • 100% iron ore concentrate requirements covered internally . 100% self-sufficiency in coke • Over 80% self-sufficiency in scrap** • Over 40% self sufficiency in electricity on the main production site 50% of the Group's rail freight handled by own logistics asset Increasing High Value Added (HVA) production • • Production +51% in transformer steel, +11% in galvanized steel y-o-y (2007) New downstream facilities commissioning on-track *Excluding Maxi-Group and raw materials assets capex **Requirements of the main production site in Lipetsk 5

View entire presentation