March 20, 2018

Severstal paid off Eurobonds to the amount of $549 mln

PAO “Severstal” (the “Company”) announces full scheduled redemption of the outstanding loan participation notes due 2018 (ISIN: XS0899969702, US85805RAC25) in total nominal value of US $548,620,000 on 19 March 2018.

As a result, the obligations towards the noteholders of the relevant issue have been fully discharged.

The loan participation notes in the total amount of US $600,000,000 with the coupon rate of 4.45% p.a. and maturing in 5 years were issued by Steel Capital S.A in 2013 for financing loans to the Company. Part of the issue has earlier been repurchased by the Company and cancelled ahead of their scheduled maturity. On the date of this announcement, public debt of the Company includes outstanding loan participation notes due in 2021, 2022, and convertible bonds due 2021, 2022.