PJSC Magnitogorsk Iron & Steel Works (MMK:LN)

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1 Business Description and Key Statistics PJSC Magnitogorsk Iron and Steel Works is a producer of ferrous metal products. Co.'s products are sold in the Russian Federation and internationally. Co.'s subsidiaries are mainly involved in the various sub-processes within the production cycle of ferrous metal products or in the distribution of those products. Together with its subsidiaries, Co. is also engaged in coal mining and sale thereof. Co.'s segments are: Steel (Russia), which is involved in production of steel, wire and hardware products in Magnitogorsk and Lysva; Steel (Turkey), which is involved in production of steel in Iskenderun and Istanbul; and Coal mining, which is involved in mining and refining of coal in Belovo. Revenue LFY (M) Operating EPS LFY Market Value (M) Shares Outstanding LFY () Book Value Per Share EBITDA Margin % Current 7, ,18 11,174, YTY % Chg Website: ICB Industry: ICB Subsector: Address: Basic Materials Iron and Steel 93 Kirova St. Magnitogorsk RUS Net Margin % Long-Term Debt / Capital % Dividends and Yield TTM Payout Ratio TTM % 6-Day Average Volume () 52-Week High & Low % Employees: 17,663 Price / 52-Week High & Low Price, Moving Averages & Volume Q1' 2 Q2 Q3 Q4 Q1' Volume () 2,166 2,166 Steel Works is currently trading at 9.11 which is 2.7% below its 5 day moving average price of 9.36 and 21.5% above its 2 day moving average price of 7.5. MMK:LN is currently 9.8% below its 52-week high price of 1.1 and is 78.6% above its 52-week low price of 5.1. Over the past 52-weeks, MMK:LN is down.4% while on a calendar year-to-date basis it is down 6.6%. The Relative Strength Index (RSI) indicator for MMK:LN is currently An RSI value of 7 and above is considered overbought and 3 and below oversold. 1,625 1,625 1,83 1, Mean (113.51) Q1' 2 Q2 Q3 Q4 Q1' 21 Price Price (5-Day Simple Moving Average) Price (2-Day Simple Moving Average) Copyright 221 FTSE Russell 1

2 Price Performance, Technical Indicators & Risk Metrics Difference Price Performance % Change vs FTSE 35 1-Day % 1-Week % 4-Week % 52-Week % Quarter-to-Date % Technical Indicators 5-Day Average Price Price / 5-Day Average 2-Day Average Price Price / 2-Day Average RSI - Relative Strength Index Year-to-Date % Risk Metrics Last Month % Price Volatility.12 Last Quarter % Sharpe Ratio.2 Last Calendar Year % Sortino Ratio.49 5-Year Price Performance vs. FTSE 35 Steel Works Current: 2.83 CAGR: 23.2% FTSE 35 Index Current: 1.8 CAGR: 1.7% MMK:LN ^NMX:LN Over the past five years, PJSC Works's stock price is up 182.9% which is 174.5% above the FTSE 35 Index performance of 8.5% over the same period. PJSC Works's cumulative annualized growth rate (CAGR) over the five year period has been 23.2% while that of the FTSE 35 Index has been 1.7%. Over the past year, PJSC Works's stock price performance of -.4% has outperformed that of the FTSE 35 Index by 12.1%. On a year-to-date basis, PJSC Works's stock price performance of -6.6% has outperformed the FTSE 35 Index by %. Over the past week, PJSC Works's stock price performance of.2% has outperformed that of the FTSE 35 Index by.8%. Copyright 221 FTSE Russell 2

3 Growth and Profitability Metrics Historical Growth 3-Year 5-Year 1-Year Profitability 5-Year 1-Year Current Average Average Revenues % Gross Margin % Revenues Per Share % EBITDA Margin % EBITDA % Pre-Tax Margin % Operating EPS % Net Margin % Free Cash Flow % Return on Equity % Cash from Operations % Return on Capital % Book Value % Return on Assets % Revenue (M) Current: Median: High: Low: CAGR: 7.8% 6,84.8 6, ,84.8 6,31.2 5, , ,31.2 5, , , , ,483.9 EPS Diluted Current:.6 Median:.8 High:.9 Low:.6 CAGR: -9.1% Net Profit Margin % Current: 8.87 Median: High: 14.8 Low: 7.14 CAGR: 6.% Mean (11.59) Return on Equity % Current: 12.8 Median: High: 26.1 Low: 12.3 CAGR: 1.1% Mean (18.42) Steel Works's cumulative annualized revenue growth rate over the charted period is 7.8%. This compares to revenue growth of -13.8% last fiscal year and cumulatative annualized growth of 6.6% over the past 3 years. Steel Works's cumulative annualized EPS growth rate over the charted period is -9.1%. This compares to EPS growth of -36.9% last fiscal year and cumulatative annualized growth of -1.2% over the past 3 years. Steel Works's net profit margin last fiscal year of 8.9% is 2.7% below the period's mean net margin of 11.6%. During the charted period, the observed net profit margin high and low were 14.8% and 7.1% respectively. Steel Works's return on equity of 12.8% is 5.6% below the period's mean return on equity of 18.4%. During the charted period, the observed ROE high and low were 26.1% and 12.3% respectively Copyright 221 FTSE Russell 3

4 Valuation Metrics 5-Year 1-Year Current Median Median 5-Year 1-Year Current Median Median Price / EPS TTM Earnings Yield % Price / Sales Free Cash Flow Yield % Price / Operating Cash Flow Dividend Yield % Price / Book Value Enterprise Value / EBITDA Price / EPS TTM Current: 1.56 Median: 1.12 High: 1.73 Low:.83 CAGR: 4.4% Median (1.12) 1.1 Steel Works is trading at 1.56 times its EPS generated during the latest fiscal year. This multiple is above the historically observed median of 1.12, while high and low observations have been 1.73 and Price / Sales Current:.14 Median:.12 High:.17 Low:.6 CAGR: 18.5% Median (.12) Price / Book Value Current:.19 Median:.19 High:.28 Low:.11 CAGR: 11.6% Median (.19) Free Cash Flow Yield % Current: Median: High: 1. Low: CAGR: -3.4% 12.2 Median (98.56) Steel Works is trading at a Price to Sales ratio of.14 based on sales generated during the latest fiscal year. This ratio is above the historically observed median ratio of.12, while high and low observations have been.17 and.6. Steel Works is trading at a Price to Book ratio of.19 based on book value at the latest fiscal year end. This ratio is equal to the historically observed Price/Book Value ratio of.19, while high and low observations have been.28 and.11. Steel Works has a Free Cash Flow Yield of 84.15% based on free cash flow generated during the latest fiscal year. This value is below the historically observed median yield of 98.56%, while high and low observations have been 1. and Copyright 221 FTSE Russell 4

5 Dividends Data Dividends Per Share TTM.72 Payout Ratio TTM % 1.% Dividend Yield TTM % % Rate Ex Date Record Date Payment Date Currency Note USD GROSS FINAL RATE USD GROSS FINAL RATE USD GROSS FINAL RATE USD GROSS FINAL RATE USD GROSS FINAL RATE USD GROSS FINAL RATE USD GROSS FINAL RATE USD GROSS FINAL RATE USD GROSS FINAL RATE 1ST QUARTER USD GROSS FINAL RATE USD GROSS FINAL RATE USD GROSS FINAL RATE Dividend Growth and Yield Dividends Per Share TTM Current:.72 Median:.73 High: 1.32 Low:.12 CAGR: 45.7% Steel Works's trailing 12- month dividend per share is.72 and its dividend has grown at a cumulative annualized rate of 45.7% over the charted period. This compares to dividend growth of -2.1% over the past year and cumulative annualized growth of -.1% over the past 3 years Dividend Yield TTM % Current: Median: High: Low: CAGR: 16.% 1, , , , , , ,26.8 1,26.8 Steel Works's current dividend yield is % based on trailing 12 month dividends. The current yield is above the historically observed median of % and, over the charted time period, the observed high yield has been % and the observed low yield has been 223.1% Copyright 221 FTSE Russell 5

6 Subsector Peer Comparisons Market Value (M) Revenue LFY (M) 2,121 4,242 6,363 8,484 12,138 24,276 36,414 48,553 Steel Works IronRidge Resources Ltd Zanaga Iron Ore Co Ltd 2,59 1,689 1,232 1, ,81 Steel Works 18,938 11,47 1,251 9,15 7,349 6,431 1, ,241 2,121 4,242 6,363 8,484 12,138 24,276 36,414 48,553 Price / EPS TTM Price / Book Value Zanaga Iron Ore Co Ltd IronRidge Resources Ltd Steel Works IronRidge Resources Ltd Zanaga Iron Ore Co Ltd Steel Works EPS 5-Year Growth Rate % Revenue 5-Year Growth Rate % , Steel Works Zanaga Iron Ore Co Ltd IronRidge Resources Ltd Steel Works , Copyright 221 FTSE Russell 6

7 Abbreviations: CAGR EBIT EBITDA LFY M LON - Cumulative annual growth rate. - Earnings before interest and taxes. - Earnings before interest, taxes, depreciation & amortization. - Last fiscal year - Million - London Stock Exchange Definitions: Market Value - Weekly Price times latest Shares Outstanding times any applicable ADR factor. Revenue - Sum of the last four quarters of Revenues. Revenue Per Share - Sum of the last four quarters of Total Revenue divided by Weighted Average Shares Outstanding. Operating EPS LFY - EPS excluding non-recurring, non-operating items, fiscal year aligned TTM value. 6-Day Average Volume () - The average of the last 6 daily volume values in thousands of shares. Price 52-Week High - The high closing price from the last 52 weeks of daily closing prices. Price 52-Week Low - The low closing price from the last 52 weeks of daily closing prices. Price / 52-Week High - Latest price divided by the high price from the past 52 weeks of daily closing prices. Price / 52-Week Low - Latest price divided by the low price from the past 52 weeks of daily closing prices. 5-Day Average Price - Mean of last 5 daily closing prices. 2-Day Average Price - Mean of last 2 daily closing prices. Price / 5-Day Average Price - Latest closing price divided by mean of last 5 daily closing prices, as a percentage. Price / 2-Day Average Price - Latest closing price divided by mean of last 2 daily closing prices, as a percentage. Relative Strength Index - Relative Strength Index or RSI measures the magnitude of gains over a given time period against the magnitude of losses over that period. The equation is RSI = 1-1 / (1 + RS) where RS = (total gains / n) / (total losses / n) and n = number of RSI periods. In this item, 14 days is used and one year of daily prices are considered. A value of 3 or below may imply oversold and 7 or above may imply overbought. Price Volatility - The standard deviation of the last 2 days of daily closing prices. Sharpe Ratio - The 5 year average of the excess monthly return over the risk - free rate(1 - month T - bill) over the 5 year standard deviation of the same series. Sortino Ratio - The same calculation as the Sharpe Ratio but with positive excess returns set to zero for the standard deviation denominator, so only negative volatility weighs in. Dividends Per Share TTM - Sum of the last four quarters of Dividends Per Share. Payout Ratio - Dividends Per Share TTM divided by Operating EPS TTM. Dividend Yield TTM % - Sum of the last four quarter of Dividends Per Share divided by Weekly Price. EBITDA - Sum of the last four quarters of EBITDA (Operating Income + Depreciation & Amortization). Free Cash Flow - Sum of the last four quarters Net Cash from Operations minus Capital Expenditures (Purchase of Property, Plant & Equipment), from the Cash Flow Statement. Book Value - Total Common Equity last quarter divided by Shares Outstanding last quarter. Book Value Per Share - Total Common Equity last quarter divided by Shares Outstanding last quarter. Gross Margin % - Sum of the last four quarters Gross Profit divided by the sum of the last four quarters Revenues. EBITDA Margin % Pre-Tax Margin % - Sum of the last four quarters EBITDA divided by the sum of the last four quarters Revenues. - Sum of the last four quarters of Earnings Before Taxes divided by sum of the last four quarters Revenues. Net Profit Margin % Return on Equity % - Sum of the last four quarters of Operating EPS divided by sum of the last four quarters Revenues Per Share. - Sum of the last four quarters of Operating EPS divided by the average of the last four quarters Book Value. Return on Capital % - Sum of the last four quarters of Operating EPS divided by the average of the last four quarters Total Capital Per Share. Return on Assets % - Sum of the last four quarters of Operating EPS divided by the average of the last four quarters Total Assets Per Share. Price / EPS TTM - Weekly Price divided by the sum of the last four quarters of Operating EPS (capped at 99.9). Price / Sales - Weekly Price divided by Revenues Per Share TTM. Price / Book Value - Weekly Price divided by Book Value Per Share last quarter. Book Value Per Share is Total Common Equity last quarter divided by Shares Outstanding last quarter (capped at 49.9). Free Cash Flow Yield % - Free Cash Flow Per Share TTM divided by Weekly Price. Enterprise Value - Market Value plus Total Debt last year plus Preferred Equity last year minus Cash & Cash Equivalents last year. Enterprise Value / Sales - Enterprise Value divided by the sum of the last four quarters of Revenue. Enterprise Value / EBITDA - Enterprise Value divided by EBITDA TTM. Enterprise Value / EBIT - Enterprise Value divided by trailing four quarters of Operating Income. Enterprise Value / Free Cash Flow- Enterprise Value divided by the sum of the last four quarters of Free Cash Flow. Russell 1 Index - The largest 1, stocks by market cap, the index comprehensively covers the US large cap universe. EPS 5-Year Growth Rate % is capped at %. Revenue 5-Year Growth Rate % is capped at %. Copyright 221 FTSE Russell 7

8 Disclaimer: 221 London Stock Exchange Group plc and its applicable group undertakings (the LSE Group ). The LSE Group includes (1) FTSE International Limited ( FTSE ), (2) Frank Russell Company ( Russell ), (3) FTSE Global Debt Capital Markets Inc. and FTSE Global Debt Capital Markets Limited (together, FTSE Canada ), (4) MTSNext Limited ( MTSNext ), (5) Mergent, Inc. ( Mergent ), (6) FTSE Fixed Income LLC ( FTSE FI ) and (7) The Yield Book Inc ( YB ). All rights reserved. FTSE Russell is a trading name of FTSE, Russell, FTSE Canada, MTSNext, Mergent, FTSE FI, YB. FTSE, Russell, FTSE Russell, MTS, FTSE4Good, ICB, Mergent, The Yield Book and all other trademarks and service marks used herein (whether registered or unregistered) are trademarks and/or service marks owned or licensed by the applicable member of the LSE Group or their respective licensors and are owned, or used under licence, by FTSE, Russell, MTSNext, FTSE Canada, Mergent, FTSE FI, YB. FTSE International Limited is authorised and regulated by the Financial Conduct Authority as a benchmark administrator. All information is provided for information purposes only. All information and data contained in this publication is obtained by the LSE Group, from sources believed by it to be accurate and reliable. Because of the possibility of human and mechanical error as well as other factors, however, such information and data is provided "as is" without warranty of any kind. No member of the LSE Group nor their respective directors, officers, employees, partners or licensors make any claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to the accuracy, timeliness, completeness, merchantability of any information or of results to be obtained from the use of FTSE Russell indexes or data or the fitness or suitability of the FTSE Russell indexes or data for any particular purpose to which they might be put. Any representation of historical data accessible through FTSE Russell indexes or data is provided for information purposes only and is not a reliable indicator of future performance. No responsibility or liability can be accepted by any member of the LSE Group nor their respective directors, officers, employees, partners or licensors for (a) any loss or damage in whole or in part caused by, resulting from, or relating to any error (negligent or otherwise) or other circumstance involved in procuring, collecting, compiling, interpreting, analysing, editing, transcribing, transmitting, communicating or delivering any such information or data or from use of this document or links to this document or (b) any direct, indirect, special, consequential or incidental damages whatsoever, even if any member of the LSE Group is advised in advance of the possibility of such damages, resulting from the use of, or inability to use, such information. No member of the LSE Group nor their respective directors, officers, employees, partners or licensors provide investment advice and nothing contained in this document or accessible through FTSE Russell indexes or data, including statistical data and industry reports, should be taken as constituting financial or investment advice or a financial promotion. No part of this information may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior written permission of the applicable member of the LSE Group. Use and distribution of the LSE Group data requires a licence from FTSE, Russell, FTSE Canada, MTSNext, Mergent, FTSE FI, YB, and/or their respective licensors. Copyright 221 FTSE Russell 8

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