The Board recommends dividends for the 12 months and announces date of AGM

The Board of ОАО Severstal (“Severstal” or 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 1.89 rubles (approximately $0.06) per share for the twelve months to 31 December 2012. Approval of the dividend is expected at the Company’s AGM which will take place on 13 June 2013. The record date for both participation in the AGM and for dividend payments for the 12 months ended 31 December 2012 is 26 April 2013 inclusive. The Board agreed that the Company's AGM will be held at 41 Metallurgists Palace, Stalevarov Street, Cherepovets, Vologda Region, Russia. Registration for the AGM will start at 11.00am (MT). The AGM will start at 12.00pm (MT). The full agenda for the AGM approved by the Board will be published before the AGM.