Announcement of agenda for Extraordinary General Meeting (‘EGM’)

The Board of Directors of OAO Severstal (“Severstal”; “the Company”), one of the world’s leading vertically integrated steel and steel-related mining companies, confirms the following agenda for the EGM which, as previously announced, will be held on 10 September 2014:

  • Transference of the powers and responsibilities of OAO Severstal’s Executive Management Team/CEO to a new management company
  • Severstal Management effective from 1 January 2015;
  • Termination of authorities and responsibilities of Severstal’s CEO, effective from 1 January 2015;
  • Proposed dividend payments for the first six months of the financial year to 30 June 2014.

The transference of the powers and responsibilities to Severstal Management is fully in line with the Company’s focus on optimizing its management structure and further enhancing management efficiency and transparency.

Alexey Mordashov, CEO of Severstal, will head Severstal Management.

As previously announced, the EGM will be held by absentee voting on 10 September 2014. The closing date for the receipt of voting ballots is 10 September 2014. All Severstal shareholders on the register as at 25 July 2014 are eligible to participate.

In the case that the dividend payments for the first six months of the financial year to 30 June 2014 are approved at the EGM, the record date will be 22 September 2014.