Result of EGM

OAO Severstal (“Severstal”; “the Company”), one of the world’s leading vertically integrated steel and steel-related mining companies, announces that the following resolution was passed at the Extraordinary General Meeting (“EGM”) of Shareholders held on 17 December, 2013:

- To pay a dividend of 2.01 rubles (approximately $0.06) per share for the first nine months of the financial year to 30 September 2013.

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

The record date for dividend payment for the first nine months of 2013 was 31 October 2013.