Management changes

Management changes

Moscow, 22 November 2016 - PAO Severstal ('Severstal', the 'Company'), one of the world's leading vertically integrated steel and steel-related mining companies, today announces the appointment of Alexander Shevelev as CEO of Severstal, effective from 12th December 2016. Alexey Kulichenko, Interim CEO of Severstal since 8th November 2016, will continue in his role as CFO of the Company.

Alexander Shevelev previously held the positions of CEO of SVEZA Group, a subsidiary of Severgroup, and CEO of Severstal-metiz, an international metalware manufacturer and subsidiary of Severstal.

Anatoly Frishman, previously CEO of Severstal-metiz, has been appointed CEO of SVEZA Group. Sergey Kovryakov has been appointed CEO of Severstal-metiz. These appointments are also effective from 12th December 2016.

Alexey Mordashov, Chairman of PAO Severstal, said: "Alexander Shevelev has significant experience and a deep understanding of Severstal's operations and strong corporate culture that is built on developing its people. I am confident that Alexander will drive the company's continued development and success going forward. I would like to thank Alexey Kulichenko for his hard work during his time as Interim CEO of Severstal."

Alexander Shevelev

Alexander has been CEO of SVEZA Group, a subsidiary of Severgroup, since 2016. Prior to that he held the position of CEO of Severstal-Metiz (a part of Severstal) from 2013 to 2016. He started his career at Severstal-metiz and Severstal's Cherepovets Steel Mill as a metalworker in 1997. Alexander graduated from the Vologda Economic Academy with a degree in Mechanical Engineering and from the National Technical University in St. Petersburg where he mastered economics and management. Alexander also holds an MBA from the Northumbria Business School, Newcastle, UK.

For further information please contact:

Investor Relations

Evgeny Belov

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

[email protected]

Public Relations

Anastasia Mishanina

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

[email protected]

Hudson Sandler

Andrew Hayes/ Emily Dillon/ Fern Duncan

T: +44 (0)20 7796 4133

[email protected] / [email protected] / [email protected]

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PАО Severstal is one of the world's leading vertically integrated steel and steel related mining companies, with assets in Russia, Ukraine, Latvia, Poland, Italy and Liberia. Severstal is listed on RTS and MICEX and the company's GDRs are traded on the LSE. Severstal reported revenue of $6,396 million and EBITDA of $2,096 million in 2015. Severstal's crude steel production in 2015 reached 11.5 million tonnes. www.severstal.com