20 February 2023

In the reporting quarter, Metinvest crude steel output remained at the level of previous quarter, while iron ore production increased q-o-q by 12%.

In the fourth quarter of 2022, Metinvest's pig iron production was 270,000 tons (221,000 tons in the previous quarter), crude steel output made 250,000 tons (256,000 tons).

In total pig iron and steel production by the group, only the production of Kametsteel (former DMK) is taken into account, while the group does not reflect in its report the production figures of Zaporizhstal, which Metinvest owns by 50%, but exercises operational control.

In turn, the steel production of Zaporizhstal in the reporting quarter was 279,000 tons (compared to 291,000 tons in the previous one), so, including Zaporizhstal, Metinvest's total steel production in the fourth quarter of 2022 was 529,000 tons (70% of total output in Ukraine).

Metinvest produced 141,000 tons of merchant semi-finished products (+30,000 tons compared to the previous quarter due to merchant pig iron) and 427,000 tons of rolled products (-39,000 tons due to the impact of blackouts on Kametsteel operations).

In the fourth quarter, the production of iron ore concentrate stabilized - it amounted to 1,008,000 tons compared to 900,000 tons in the second quarter. In the reporting quarter, Metinvest focused on the production of merchant iron ore concentrate with an iron content of more than 67%.

As for Metinvest's production figures for the entire year 2022, the group's total steel output amounted to 2.9 million tons (-69% compared to previous year due to the loss of metallurgical plants in Mariupol, which in 2021 produced 8.6 million tons of steel - 40% of the total production in Ukraine).

We would like to add that Zaporizhstal steel production in 2022 amounted to 1.5 million tons (3.9 million tons in 2021).

The total output of iron ore concentrate in 2022 decreased by 66% compared to the previous year and amounted to 10.7 million tons, coal production was lower than in the previous year by 11% and amounted to almost 5 million tons.