Moscow, Russia � November 23, 2022 � Mechel PAO (MOEX: MTLR, NYSE: MTL), one of the leading Russian mining and metals companies, announces that Analytical Credit Rating Agency ACRA assigned Mechel an A(RU) credit rating with a stable outlook.

In its official report, ACRA noted that Mechel PAO�s credit rating is due to the company�s strong market position and a confident evaluation of its business profile, which was in its turn made taking into account the company�s high level of vertical integration, a large share of high value added products in Mechel�s sales structure, as well as high product diversity of its product portfolio. ACRA estimated that the share of the company�s own primary commodity�s share in the prime cost is more that 70%. The company�s degree of self-sufficiency is 125% in coal, 29% in iron ore, 181% in coke and 87% in electricity. The average share of high value added products in 2020-2022 amounted to 31%, while exports provided for 33% of the total revenue.

The stable outlook suggests with a high degree of probability that the rating will remain unchanged over the next 12-18 months.

This is the first time that ACRA has assigned Mechel PAO its credit rating.

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Mechel PAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@mechel.com