Results of AGM

Moscow, Russia – June 27, 2011. The Annual General Meeting of the Shareholders of OAO Severstal for the 2010 results held on June 27, 2011 in Cherepovets adopted the following resolutions:

  1. To elect OAO Severstal’s Board of Directors composed of the following: Alexey Mordashov, Mikhail Noskov, Sergei Kuznetsov, Alexey Kulichenko, Alexander Grubman, Christopher Clark, Ronald Freeman, Peter Kraljic, Martin Angle, Rolf Stomberg.
  2. To approve the Annual Report and annual accounting statements for 2010, including the profit and loss statement.
  3. A) To distribute the profits for the 2010 fiscal year by paying a dividend of 2.42 rubles (approximately $0.08) per share; B) To not distribute the rest of the profits for the fiscal year 2010.
  4. To pay a dividend of 3.90 rubles (approximately $0.14) per share in respect of the first three months of the financial year to 31 March 2011.
  5. To elect an Internal Audit Commission of OAO Severstal composed of the following: Artem Voronchihin, Roman Antonov, Svetlana Guseva.
  6. To approve ZAO KPMG (TIN 7702019950; principal Registration Number of the Entry in the State Register of Auditors and Audit Organisations: 10301000804) as OAO Severstal’s Auditor.
  7. To supplement the decision on remuneration of the Board members adopted by the AGM which was held on June 11, 2010 with the following: The Company pays an independent Board member elected as Chairman of the Board an additional £103,320 within one month of the election.