October 17, 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 27.47 roubles per share for the three months ended 30 September 2019.

Approval of the dividend is expected to take place at the Company’s EGM which will take place on 22 November 2019. The record date for participation in the EGM is 28 October 2019. The approval of the record date for the dividend payment is also expected at the Company’s EGM which will take place on 22 November 2019.

In the case that the dividend payments for the first three months ended 30 September 2019 are approved at the EGM, the record date for this dividend payment will be 3 December 2019.