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February 26, 2020

MMK once again increases social investment

In 2019, MMK Group's financial contributions to charitable causes and social programmes increased by almost 4% compared to the previous year, reaching RUB 2.5 billion.

At the same time, the share of the plant itself in the Groupís total volume of social and charitable expenses amounted to around 70%, totalling almost RUB 1.8 billion, 11.6% higher than in 2018.

In 2019, MMK Group allocated funds for the protection of employees' health, the implementation of medical programmes and the prevention of diseases (RUB 520 million, RUB 255 million of which were the plantís contribution), compensation for the cost of employee vouchers for resort or sanitorium treatments (RUB 400 million, of which more than half was contributed by the plant itself) and the organisation of children's holidays (RUB 53 million), the development of healthy lifestyle principles and the promotion of sports and physical education (RUB 130 million), social support for pensioners, people with disabilities and other citizens in need of assistance (RUB 419 million, of which RUB 314 million were the plantís funds), support for mothers and large families, as well as funds to stimulate birth rates (RUB 100 million), the organisation of cultural activities and the maintenance of cultural centres (RUB 113 million), the provision of hot meals for the plant's employees (RUB 68.5 million), housing, youth and educational programmes and other voluntary social commitments (RUB 172.5 million). In total, MMK Group's investments in charity and social programmes in 2019 amounted to RUB 2,581.7 million.

Magnitogorsk Iron and Steel Works (MMK) has long held the status of a socially orientated company. By funding social programmes, MMK creates a solid foundation for further development of Magnitogorsk and the entire Ural region. At the end of last year, MMK's investments in human capital development, social partnerships and sustainable development of the city and region received high recognition from several expert communities. For example, in December 2019, MMK took 4th place in the rating of the largest Russian employers for investments in human capital (based on 2018 indicators compiled by RAEX Rating Review). Also at the end of last year, the Russian Union of Industrialists and Entrepreneurs published annual indices reflecting the achievements of major Russian companies in the field of corporate responsibility management, sustainable development and social entrepreneurship, and MMK entered the group of leaders for the indices "Responsibility and Openness" and "Vectors of Sustainable Development".

MMK has succeeded in creating a unique system for social partnerships that functions effectively in market relations. The plant and MMK Group organisations voluntarily assume obligations for socially responsible behaviour towards the residents of Magnitogorsk and the Chelyabinsk region, actively take part in the development of the city and surrounding area's infrastructure, cultural and sporting facilities, support public associations and organise large-scale cultural and sporting events in the city.




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