Recommended Dividend and Date of Annual General Meeting ("AGM")

The Board of Directors of Severstal (“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 3.83 rubles (approximately $0.11) per share for the twelve months to 31 December 2013.

Approval of the dividend is expected at the Company’s AGM which will take place on 11 June 2014 at 41 Steel Mateallurgists Palace, Stalevarov street, Cherepovets, Vologda Region, Russia. Registration for the AGM will start at 11.00am (MT) with the meeting itself starting at 12.00pm (MT). The full agenda for the AGM will be approved by the Board and announced at a later date.

The record date for participation in the AGM is 24 April 2014.

If the dividend payment for the 12 months ended 31 December 2013 is approved at the AGM, the record date for this dividend payment will be 23 June 2014.