The Board recommends Dividend payment for 9 months to 30 September 2012

Moscow, Russia - November 13, 2012 – The Board of Directors of OAO 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 3.18 rubles (approximately $0.10) per share for the nine months to 30 September 2012. Approval of the dividend is expected at the Company’s EGM that, as announced on 30 October 2012, will take place on 20 December 2012. The record date for both participation in the EGM and for dividend payments for the 9 months ended 30 September 2012 was 9 November 2012.