Announcement of Extraordinary General Meeting

OAO Severstal (“Severstal”; “the Company”), one of the world’s leading vertically integrated steel and steel-related mining companies, announces that the Company’s Board of Directors has called an EGM to be held by absentee voting on 14 November 2014. The closing date for the receipt of voting ballots is 14 November 2014. All Severstal shareholders on the register as at 6 October 2014 are eligible to participate. The agenda for the EGM will be approved by the Board later and announced in due course.