The Board recommends dividend payment for the three months to 31 March 2013

The Board of Directors of ОАО Severstal (“Severstal”) (LSE: SVST; MICEX-RTS: CHMF), one of the world’s leading vertically integrated steel and steel-related mining companies, is recommending a dividend of 0.43 rubles (approximately $0.01) per share for the three months to 31 March 2013. Approval of the dividend is expected at the Severstal’s AGM which will take place on 13 June 2013. As previously announced, the record date for dividend payments for the three months to 31 March 2013 was 26 April 2013 inclusive.