July 18, 2019

The Board Recommends Dividend Payment

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 26.72 roubles per share for the three months ended 30 June 2019.

Approval of the dividend is expected to take place at the Company’s EGM which will take place on 6 September 2019. The record date for participation in the EGM is 12 August 2019. The recommended record date for the dividend payment is 17 September 2019. The approval of the record date for the dividend payment is also expected at the Company’s EGM which will take place on 6 September 2019.

In the case that the dividend payments for the first three months ended 30 June 2019 are approved at the EGM, the record date for this dividend payment will be 17 September 2019.