Proposals in respect to Board candidates, Internal Audit Commission, and auditor

The Board of PAO Severstal, ("Severstal" or "the Company", MICEX-RTS;CHMF; LSE: SVST), one of the world’s leading steel and steel-related mining companies, announces that it is approving the proposals from the Company’s shareholders to appoint the following persons to the Company's Board of Directors at the Annual General Meeting ("AGM") on 25 May 2015: Alexey Mordashov, Mikhail Noskov, Vadim Larin,  Alexey Kulichenko, Vladimir Lukin, Philip Dayer, Alun Bowen, Alexander Auzan, Sakari Tamminen, Vladimir Mau.

As before, PAO Severstal’s Board of Directors will comprise 10 members.

Information on the new candidates:

Alexander Auzan

Alexander Auzan, aged 60, Dean of the Faculty of Economics in Lomonosov Moscow State University and founder of the National Projects Institute, is one of Russia’s leading economists. Alexander was President of Association of Russian Economic Think Tanks (ARETT) from 2005-2011 and is currently a member of the Presidential Economic Council. He has written numerous papers on Russian economics and frequently consults national and regional governments.

Sakari Tamminen

Sakari Tamminen, aged 61, has extensive relevant experience at Board level in steel and metals companies including being the President and CEO of the Finnish steel and metal construction company Rautaruuki Corporation from 2004-2014. Sakari is currently a member of the Board at Ovako Ab, a steel company, and has been the Vice Chairman of the Board in Sanoma Corporation since 2002. He also holds a directorship at Danske Bank Finland Plc and is Chairman of the Board in Industry Investment Ltd and Versowood. He has also held roles as Executive Vice President and CFO of Metso Corporation (1999-2003) and Rauma Corporation (1991-1999).

Vladimir Mau

Vladimir Mau, aged 55, has extensive experience in economic advisory roles, and has held a Board membership at Gazprom since 2011. Vladimir was the advisor to the Russian Prime Minister from 1992-1993 and was deeply involved in implementing economic reform in Russia. Mr. Mau is the Rector of The Russian Presidential Academy of National Economy and Public Administration. He is author of more than 100 economic studies.

The Board of Directors has also approved the proposal to elect the Internal Audit Commission comprising the following persons: Roman Antonov, Svetlana Guseva, Nikolai Lavrov; and to approve ZAO KPMG (TIN 7702019950; principal Registration Number of the Entry in the State Register of Auditors and Audit Organisations: 10301000804) as Severstal’s Auditor.

 

For further information, please contact:

Severstal Investor Relations

Vladimir Zaluzhsky

T: +7 (495) 926-77-66

vladimir.zaluzhsky@severstal.com

Severstal Public Relations

Elena Kovaleva

T: +7 (495) 926-77-66

elena.kovaleva@severstal.com

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PАО Severstal is one of the world’s leading vertically integrated steel and steel related mining companies, with assets in Russia, Ukraine, Latvia, Poland, Italy and Liberia. Severstal is listed on RTS and MICEX and the company’s GDRs are traded on the LSE. Severstal reported revenue of $8,296 million and EBITDA of $2,203 million in 2014. Severstal’s crude steel production in 2014 reached 11.3 million tonnes. www.severstal.com