Result of EGM

OAO Severstal, one of the world’s leading vertically integrated steel and mining companies, announces the results of voting on the resolution proposed at the EGM held on 30 September 2011.

The following resolution was put to Severstal's shareholders at the EGM, and the results of voting were as follows: a) to approve a dividend for the first six months of the financial year to 30 June 2011 of 4.37 ruble (approximately $0.15) per common share and per global depositary receipt (“GDR”) payable to shareholders on the share register as at 24 August 2011.