April 16, 2018

The Board Recommends Dividend Payment and the Agenda for the 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 38.32 roubles per share for the three months ended 31 March 2018.

Approval of the dividend is expected at the Company's AGM which will take place on 8 June 2018 at Steel Matallurgists Palace, Stalevarov street 41, Cherepovets, Vologda Region, Russia. Registration for the AGM will start at 11.00 am (MT) with the meeting itself starting at 12.00 pm (MT).

The Board of Directors approved the following agenda for the AGM:

1. Election of members of the Board of Directors of PAO Severstal.

2. Approval of the Annual Report and the Annual Accounting (Financial) Statements of PAO Severstal for 2017.

3. Allocation of profit of PAO Severstal for 2017 results. Payment (announcement) of dividends for 2017 results.

4. Payment (announcement) of dividends for the first quarter 2018 results.

5. Election of members of the Internal Audit Commission of PAO Severstal.

6. Approval of the Auditor of PAO Severstal.

The record date for participation in the AGM is 14 May 2018. If the dividend payment for the three months ended 31 March 2018 is approved at the AGM, the record date for this dividend payment will be 19 June 2018.