Dividend recommendation for first nine months 2016

The Board Recommends Dividend Payment for the first nine months of the Financial Year ended 30 September 2016

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 24.96 rubles per share for the first nine months ended 30 September 2016.

Approval of the dividend is expected at the Company's EGM which will be held by absentee voting on 2 December 2016. All Severstal shareholders on the register as at 7 November 2016 are eligible to participate.

In the case that the dividend payments for the first nine months ended 30 September 2016 are approved at the EGM, the record date for this dividend payment will be 13 December 2016.

For further information, please contact:

Severstal Investor Relations

Vladimir Zaluzhsky

T: +7 (495) 926-77-66

[email protected]

Evgeny Belov

T: +7 (495) 926-77-66

evgenii.belov@severstal.com

Severstal Public Relations

Anastasia Mishanina

T: +7 (495) 926-77-66

[email protected] 

Severstal's financial communications agent - Hudson Sandler

Andrew Hayes / Emily Dillon / Alex Brennan

T: +44 (0) 20 7796 4133