AVELLUM PARTNERS ADVISED FERREXPO ON EXCHANGE OFFER IN RESPECT OF USD500 MILLION NOTES DUE 2016

Avellum Partners, Kyiv, Ukraine
Fri, March 13, 2015

Kyiv, 13 March 2015 – Avellum Partners acted as Ukrainian legal counsel to Ferrexpoin connection with the exchange offer in respect of outstanding USD500 million7.875% guaranteed notes due 2016 issued by Ferrexpo Finance plc. This exchangeoffer was coupled with the new issue of USD160.7 million 10.375% guaranteedamortising notes due 2019 and a 25% cash consideration.

Credit Suisse andMorgan Stanley acted as joint dealer managers of the exchange offer.

Ferrexpo is a Swissheadquartered iron ore pellet producer with assets in Ukraine and transport andsales operations throughout the world. Ferrexpo is the largest exporter ofpellets from the CIS and the 5th largest supplier of pellets to the globalsteel industry. Ferrexpo’s resource base is the largest iron ore deposit in Europewith approximately 20 billion tones of resources.

TheAvellum Partners team working on this project was led by Partner, Glib Bondar,with significant support from Associates Artem Shyrkozhukhov, Olena Polyakova,Taras Dmukhovskyy, Anna Melnychuk and Orest Franchuk.

Additionalnotes

For further information on thetopic please contact Mykola Stetsenko, Managing Partner, GlibBondar, Partner, andKostiantyn Likarchuk, Partner, or by telephone +38044 220-0335 or via e-mail.