November 8, 2016

Management changes

PAO Severstal, one of the world's leading vertically integrated steel and steel-related mining companies, today announces that Vadim Larin, CEO of AO Severstal Management has decided to step down from the Company for personal reasons, effective 7th of November 2016.

Alexey Kulichenko, Chief Financial Officer of AO Severstal Management, who has worked for the company since 2005, will become acting CEO of AO Severstal Management. The appointment is effective 8th of November 2016.

Alexey Kulichenko joined Severstal in 2005 as CFO of Severstal Resources and was appointed CFO of Severstal in July 2009. Prior to joining the company, Alexey held leading management positions at Sun Interbrew and Unimilk, where he was CFO. Alexey Kulichenko graduated from the Omsk Institute of World Economy with a degree in economics.

Alexey Mordashov, Chairman of PAO Severstal, said: “The Company will continue its commitment to delivering value for all stakeholders through our ongoing strategic focus on customer care improvements, cost control initiatives and further developing our strong corporate culture.”