EVRAZ amends covenants in bank facilities

EVRAZ agrees amendments to financial covenants in its bank facilities

2 July 2012 - EVRAZ plc (LSE: EVR) has agreed amendments to its US$950 million syndicated structured credit facility maturing in 2015, as well as a number of bilateral facilities, changing the financial covenants as part of its ongoing treasury management.

The amendments include the change of maximum net leverage ratio from 3.0x to 3.5x and minimum EBITDA to interest expense ratio from 3.5x to 3.0x. These changes apply to all the bank facilities having financial covenants tested on consolidated financials of EVRAZ's wholly-owned subsidiary Evraz Group S.A., which is the borrower under the syndicated facility and guarantor under the bilateral facilities. The total amount of those facilities is approx. US$1.4 billion, of which US$759 million is outstanding under the syndicated facility.

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For further information:

Investor Relations:Alexander BoreykoDirector, Investor RelationsLondon: +44 207 832 8990 Moscow: +7 495 232 1370

[email protected]

Media Relations:Oleg KuzminVP, Corporate CommunicationsLondon: +44 207 832 8998 Moscow: +7 495 937 6871[email protected]

EVRAZ is a vertically integrated steel, mining and vanadium business with operations in the Russian Federation, Ukraine, USA, Canada, Czech Republic, Italy and South Africa. EVRAZ is among the top 20 largest steel producers in the world based on crude steel production of 16.8 million tonnes in 2011. In 2011 EVRAZ sold 15.5 million tonnes of steel products. A significant portion of the Group's internal consumption of iron ore and coking coal is covered by its mining operations. The Group's consolidated revenues for the year ended 31 December 2011 were US$16,400 million and consolidated EBITDA amounted to US$2,898 million.