Update on coupon payment in respect of Chelpipe Eurobonds

Public Joint Stock Company “Chelyabinsk Pipe Plant” ("Chelpipe") hereby informs that, in line with the requirements of the Russian regulations presently in force, on 20 October 2022 Chelpipe arranged for a split payment of interest due on 19 March 2022 ("March 2022 Coupon") under the U.S.$ 300,000,000 4.5 per cent. Loan Participation Notes due 2024 (the "Notes") issued by, but with limited recourse to, Chelpipe Finance Designated Activity Company.

Оn 20 October 2022 Chelpipe transferred the relevant portion of March 2022 Coupon payable to the Noteholders holding their Notes through the Russian National Settlement Depository ("NSD") and other Russian custodians being the accountholders with foreign clearing systems (the "Other Russian Custodians"). Coupon payments were made to NSD in the amount of Russian Roubles equivalent of US$ 22.5 for every US$ 1,000 of the nominal value of the Notes at the official exchange rate of the Central Bank of the Russian Federation on October 20, 2022 for onward distribution to the relevant Noteholders.

With regard to the payment of March 2022 Coupon to the Noteholders not referred to above, Chelpipe will make a separate announcement in due course.

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