Recommended Dividend and Date of Annual General Meeting ("AGM")

The Board of Directors of Severstal (“Severstal”, “the Company”) (LSE: SVST; MICEX-RTS: CHMF), one of the world’s leading vertically integrated steel and steel-related mining companies, is recommending a dividend of 14.65 rubles per share for the twelve months to 31 December 2014.

Approval of the dividend is expected at the Company’s AGM which will take place on 25 May 2015 at Steel Matallurgists Palace, Stalevarov street 41, Cherepovets, Vologda Region, Russia. Registration for the AGM will start at 11.00am (MT) with the meeting itself starting at 12.00pm (MT). The agenda for the AGM will be approved by the Board and announced at a later date.

The record date for participation in the AGM is 13 April 2015.

If the dividend payment for the 12 months ended 31 December 2014 is approved at the AGM, the record date for this dividend payment will be 5 June 2015.