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Mechel Announces Management Changes

Press Releases
Mechel PAO (MOEX: MTLR, NYSE: MTL), a leading Russian mining and metals company, announces the appointment of Igor Khafizov as CEO of Mechel Mining Management Company LLC. In this position, he replaced Pavel Shtark, who took the post of Deputy General Director of Mechel PAO for Prospective Development.

Igor Khafizov has been with Mechel Group structures for 27 years. All of his professional experience is associated with the activities of the Group's mining enterprises - iron ore and coal. From 2017 to the present, he held the position of Deputy Director of Mechel Mining Management Company LLC. The perimeter of his activities included the control of the work of the coal companies AO HC Yakutugol and LLC Elgaugol.

“Igor Valerievich's professionalism is beyond doubt. He is a top manager with extensive experience at all of Mechel's major mining enterprises; he knows all production processes, starting from the grassroots level. Igor Valerievich was at the forefront of the construction of the Elga Coal Complex, which at that time was a subsidiary of Yakutugol Holding Company, and also actively participated in the development of the strategy for Mechel's mining business. Under his leadership, significant indicators were achieved at Korshunovsky GOK, Yuzhny Kuzbass and Yakutugol. In his new post, Igor Valerievich is tasked with ensuring the development of enterprises in the mining division and increasing production volumes, "said Mechel PAO General Director Oleg Korzhov.

Biographical note:

Igor Valerievich Khafizov

Work experience: 2019. - Deputy General Director of Mechel Mining Management Company LLC 2017-2018. - Deputy General Director of Mechel Mining Management Company LLC - Director of the Department for Mining Assets of the Republic of Sakha (Yakutia) 2009-2017. - Managing Director of AO HC Yakutugol 2006-2008. - Managing Director of OJSC Southern Kuzbass 1992-2006. - held various positions at Korshunovskiy GOK OJSC, rising from an assistant driver to general director. Awarded a medal of the Order of Merit for the Fatherland, II degree. Graduated from the Ural Mining Institute with a degree in mining engineer.


Mechel PAO Ekaterina Videman Tel .: [email protected]


Mechel is a global mining and metals company. The company's products are supplied to Europe, Asia, North and South America, Africa. Mechel unites producers of coal, iron ore, steel, rolled products, ferroalloys, heat and electricity. All businesses operate in a single production chain: from raw materials to high value-added products.


Certain statements in this press release may contain assumptions or predictions about future events or the future financial performance of Mechel PAO in accordance with the provisions of the 1995 US Securities Litigation Reform Act. We would like to warn you that these statements are only assumptions and the actual course of events or results may differ materially from those stated. We do not intend to revise or update these statements. We refer you to the documents that Mechel periodically submits to the US Securities and Exchange Commission, including the Form 20-F annual report. These documents contain and describe important factors, including those identified in the "Risk Factors" section and "Note on the forecasts contained in this document" in Form 20-F. These factors could cause material differences between actual results and our assumptions and forecasts regarding future events, including but not limited to achieving the anticipated level of profitability, growth, cost and effectiveness of our recent acquisitions, the impact of competitive pricing, the ability to obtain the necessary regulatory approvals and confirmations. the state of the Russian economy, the political and legal environment, volatility in stock markets or the value of our shares or ADRs, financial risk management and the impact of the general business situation and global economic conditions.


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