Change of name announcement

OAO Severstal ("Severstal", the "Company"), one of the world's leading vertically integrated steel and steel-related mining companies, has changed its name to PAO Severstal.

The Company has changed its name to comply with the Russian corporate law requirements. The relevant changes were made to the Company’s Charter the revised version of which was approved by the Company’s shareholders at the general shareholders’ meeting on 14 November 2014. The change of name applies from 1 December 2014.

The revised version of the Company’s Charter can be found on the Company’s website at www.severstal.com.

The change of name does not affect the Company’s existing rights and obligations towards third parties or towards the Company’s shareholders.