July 23, 2015

The Board recommends dividend payment for the first six months of the financial year ended 30 June 2015

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 12.63 rubles per share for the first six months ended 30 June 2015.

Approval of the dividend is expected at the Company’s EGM which will be held by absentee voting on 15 September 2015. The closing date for the receipt of voting ballots is 15 September 2015. All Severstal shareholders on the register as at 3 August 2015 are eligible to participate.

In the case that the dividend payments for the first six months ended 30 June 2015 are approved at the EGM, the record date for this dividend payment will be 28 September 2015.