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FERREXPO PLC RESPONSIBLE BUSINESS REPORT 2015 Front Cover: Children Greet Guests on St Nicholas Day at the Holy Dormition Cathedral in Kremenchuk

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FERREXPO PLC RESPONSIBLE BUSINESS REPORT 2015 Front Cover: Children Greet Guests on St Nicholas Day at the Holy Dormition Cathedral in Kremenchuk FERREXPO PLC RESPONSIBLE BUSINESS REPORT 2015 Front cover: Children greet guests on St Nicholas Day at the Holy Dormition Cathedral in Kremenchuk FERREXPO IS AN IRON ORE PELLET PRODUCER WITH MINES IN UKRAINE AND SALES OPERATIONS AROUND THE WORLD. Since Ferrexpo’s Initial Public Offering (“IPO”), in June 2007, it has been premium listed on the main market of the London Stock Exchange. Ferrexpo is the largest exporter of iron ore pellets in the Former Soviet Union and currently the third largest supplier of pellets to the global steel industry. As a result of the Group’s large iron ore deposit and significant capital investments, in excess of US$2 billion since its IPO, the Group is an efficient and competitive supplier of high quality iron ore pellets to its premium customer base around the world. Introduction Our People Economic indicators Community and society Operations in Ukraine 02 Safety 13 Corporate level 23 Local community, resettlement About this report 02 Safety – performance in 2015 14 Local level (community support) 23 and closure plans 33 About our business 03 Behavioural safety 15 Direct economic value generated 23 Government relations 35 About the global reporting Pension plan obligations 24 Compliance issues 35 initiative (“GRI”) 03 Occupational health Local suppliers of goods and Business model 04 Occupational health – performance services 24 GRI G4 index 36 Chairman’s review 06 in 2015 16 Transparency initiative 25 Our approach to corporate social Business ethics 25 responsibility 07 Workforce Responsible Business governance Workforce composition – gender 17 Environment and management framework 08 Local hiring 19 Energy consumption 27 CSR Committee 09 Employee training and development 19 Energy intensity 27 Engaging our stakeholders on Workforce attrition 19 Water management 27 Responsible Business 10 Workforce benefits 20 Greenhouse gas emissions 29 Labour unions and collective Emissions of NOx, SOx, CO, and bargaining 20 other gases (stationary sources) 30 Workforce disputes 20 Emissions of NOx, SOx, CO, and other gases (mobile sources) 31 Land use and rehabilitation 31 Volume of materials 31 Safety is of paramount importance within the Company culture as is the need to train and develop a balanced and engaged workforce. To read more about the Company’s efforts to achieve these goals with 9,500 employees and over 1,500 contractors, see page 12. The Company has been, and remains committed to being, a good corporate OUR citizen in Ukraine, both PE OP locally and nationally. To read LE more about the direct and indirect value generated by the Company, along with its E policies on business A C N O ethics, see page 22. D N O B M U I S C I N I E N S D S I C E A T T H O I R C S S T N E Ferrexpo’s operations in M Ukraine cover over 5,500 N O hectares, and the Company R I V closely monitors water N E usage, energy consumption, emissions of greenhouse gases and other gases in order to ensure compliance with local laws and to drive a continual reduction in Y our environmental impact, NIT MU see page 26. COM Ferrexpo employs over 20% of the local community where its operations are located in Ukraine, making it the major employer and a key contributor to the social fabric of the area. To read more about the Company’s community engagement strategy, see page 32. 2 INTRODUCTION A GLOBAL BUSINESS SERVICING THE BEST STEEL MILLS IN THE WORLD OPERATIONS IN UKRAINE OUR RESOURCES AS OF 31 DECEMBER 2015 Ferrexpo plc (“Ferrexpo”) is an iron ore pellet producer with operations in Ukraine and a global customer base of high quality steel mills. The BROVARKOVSKOYE 4.0BT Ferrexpo Group includes two operating entities in Ukraine – Ferrexpo Poltava Mining (“FPM”) and Ferrexpo Yeristovo Mining (“FYM”), in addition to a subsidiary with a project currently in development, MANUILOVSKOYE 3.4BT (Ferrexpo Belanovo Mining, (“FBM”). The Company also has corporate head offices in London and Switzerland, and a number of marketing KHARCHENKOVSKOYE 2.8BT offices in Dubai, Kiev, Singapore, Shanghai and Tokyo. VASILIEVSKOYE 1.4BT ESTABLISHED LOGISTICS INFRASTRUCTURE ZARUDENSKOYE 1.5BT 50km GALESCHINSKOYE 0.3BT MOS T Y S K A LVIV KYIV BELANOVSKOYE 1.7BT POLTA V A U Z H H O R O D F E R REXPO ZOL O TNISHINO CHOP YERISTOVSKOYE 1.2BT B AT ’ O V O ZNAMENKA HORISHNI PLAVNINSKOYE & LAVRIKOVSKOYE 3.5BT DNIEPER RIV E R POR T Y U ZHNY S EA OF AZOV DANUBE RIVER POR T ODESA POR T RENI POR T IZMAIL CRIMEA POR T CONSTA N TA ABOUT THIS REPORT The purpose of this Responsible Business By measuring and publishing detailed Report (“Report”) and the data contained information on sustainability performance, in the Responsible Business Report the Company can proceed to Supplement (“Supplement”) is to enable benchmark progress in future years. a broad range of key stakeholders, ranging from local communities, national This report is the first Responsible Business government, employees and contractors at Report that the Company has produced our mines, to make informed assessments of and covers the calendar year of 2015 the value that Ferrexpo creates in society and (from January to December), in line with of the Company’s long-term sustainability by the Company’s financial year and latest providing an overview of Ferrexpo’s financial, Annual Report, published in April 2015. social and environmental performance. The Company recognises that as a business The Company does not envisage any effect involved in the large scale extraction and from the restating of information that is beneficiation of raw minerals, the potential contained in this report. A proportion of exists for a significant impact on a number of stakeholders, both directly and indirectly. FERREXPO PLC RESPONSIBLE BUSINESS REPORT 2015 3 ABOUT OUR BUSINESS BLAST FURNACE PELLET EXPORTS IN 2015 (MILLION TONNES) Ferrexpo is the largest exporter of iron ore The Company produces two products: pellets in the Commonwealth of Independent Ferrexpo Premium Pellets (“FPP”, 65% Vale 23.9 States (“CIS”), and was the fourth largest Fe content) and Ferrexpo Basic Pellets LKAB 13.7 exporter globally in 2015, as shown in the (“FBP”, 62% Fe), and these products are bar chart to the right. Mining of iron ore sold internationally to premium steel mills. Samarco 12.1 and pellet production has taken place at The Company’s Premium Pellets are the the Company’s assets in Ukraine for over highest quality products that the Company FERREXPO 11.7 35 years, with the Company opening a produces, which command a higher new mine, Yeristovo in 2012, the first new premium, principally as a result of a higher Mettalloinvest 7.4 iron ore mine to open since Ukraine’s iron content and lower silica content than independence. Ferrexpo’s produced 11.7 the Company’s Basic Pellets. In 2015, Cliffs 7.1 million tonnes of pellets in 2015, a record the Company’s sales mix was as follows: level of production, which follows an 89% FPP, 11% FBP (2014: 53% FPP, 47% IOC 6.8 extensive capital investment programme of FBP). The chart below demonstrates the over US$2 billion to upgrade and improve the global nature of Ferrexpo’s marketing Metinvest 6.7 Company’s assets to increase production of its pellets. A full listing of the markets volumes and improve pellet quality. served by Ferrexpo is presented in the Severstal 5.8 Responsible Business Report Supplement. QCM 5.5 Grange 2.3 CAP 2.1 North East Asia Western Europe ERG 1.4 12% 11% EVRAZ 0.5 CVG Ferrominera 0.2 Bahrain Steel 0.0 Central Europe China 49% 22% Turkey, the Middle East and India Marketing ofces 6% Data shown for 2015 sales. the information contained herein is publicly information and data regarding corruption and many others. The GRI body available in prospectus documents and Ferrexpo’s performance in 2015. The was formed in Boston in 1997 and aims to Annual Reports on the Company’s website, Supplement is designed to be reviewed oversee the development of sustainability and where possible, the page reference in conjunction with this report. reporting standards. As of 2015, a total for each item of information is stated for of 7,500 organisations have used GRI the reader’s reference. There have been The Supplement is available electronically on Guidelines to produce a Responsible no material changes to the Company’s the Company’s website (www.ferrexpo.com) Business Report, including a number of reporting since listing in 2007. As this is major natural resources companies. the first report of its kind issued by the About the Global Reporting Company, there are no changes to report Initiative (“GRI”) Publishing a Responsible Business to either the Scope or Aspect Boundaries; GRI is an international independent Report under GRI Guidelines is currently neither has any data been restated. organisation that helps businesses, a voluntary process, and the Company governments and other organisations views its inaugural Responsible Business This report is also accompanied by a understand and communicate the impact Report as an important step in its Supplement, which contains detailed of business on critical sustainability issues sustainable development journey. such as climate change, human rights, FERREXPO PLC RESPONSIBLE BUSINESS REPORT 2015 4 INTRODUCTION BUSINESS MODEL Ferrexpo is a producer of high quality iron ore pellets. It operates from an INPUTS established, long life, well invested asset base with a competitive cost structure capable of generating profitable returns even through cyclical downturns. Sustainability is integral to Ferrexpo’s business EXPERTISE model. The Group is committed to zero harm, environmental stewardship, fostering strong relationships with local communities and operational excellence, which underpins COMPETITIVE long-term viability.
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