Severstal reports Q1 2014 operational results

OAO Severstal (MICEX-RTS: CHMF; LSE: SVST), one of the world’s leading vertically integrated steel and steel-related mining companies, today announces its operational results for Q1 2014.

Q1 2014 GROUP HIGHLIGHTS

● Production of crude steel increased 4% q/q driven by production growth at the Russian Steel Division (“RSD”)

● Steel product sales at RSD were down by 8% against increased sales in Q4 2013, although export sales advanced moderately in Q1 2014. Steel product sales at Severstal North America (“SNA”) also increased by 1% q/q

● The pricing environment was challenging; coking coal concentrate at Vorkuta and high value added (“HVA”) products at RSD were impacted the most, while SNA saw a favorable 1% q/q increase in prices for rolled products

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