Result of Annual General Meeting

Moscow, Russia – June 28, 2012. OAO Severstal announces that the following resolutions were all passed at the AGM of the Shareholders for the 2011 results held on June 28, 2012 in Cherepovets:

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. Approval of the Annual Report and annual accounting statements for 2011, including the profit and loss statement.

3. a)To distribute the profits for the 2011 fiscal year by paying a dividend of 3.56 rubles (approximately $0.11) per share; b) To not distribute the remainder of the profits for the fiscal year 2011.

4.To pay a dividend of 4.07 rubles (approximately $0.12) per share in respect of the first three months of the financial year to 31 March 2012.

5.To elect an Internal Audit Commission of OAO Severstal composed of the following:  Roman Antonov, Svetlana Guseva, Nikolai Lavrov.

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. Approval of a potential interested party transaction - a deposit placement with Sberbank of Russia for up to the equivalent of 25 bln rubles. (Note: Mr Ronald Freeman is a Member of Severstal’s Board and Sberbank’s Supervisory Board).

The dividends will be paid within 60 days from the date of the AGM.