Recommended Dividend and Date of AGM

Recommended Dividend and Date of Annual General Meeting ("AGM")

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 20.27 rubles per share for the twelve months to 31 December 2015.

Approval of the dividend is expected at the Company's AGM which will take place on 24 June 2016 at Steel Matallurgists Palace, Stalevarov street 41, Cherepovets, Vologda Region, Russia. Registration for the AGM will start at 11.00am (MT) with the meeting itself starting at 12.00pm (MT). The agenda for the AGM will be approved by the Board and announced at a later date.

The record date for participation in the AGM is 10 May 2016.

If the dividend payment for the 12 months ended 31 December 2015 is approved at the AGM, the record date for this dividend payment will be 5 July 2016.

For further information, please contact:

Severstal Investor Relations

Victor Drozdov

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

[email protected]

Severstal Public Relations

Anastasia Mishanina

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

[email protected] 

Severstal's financial communications agent - Hudson Sandler

Andrew Hayes / Elena Garside / Alex Brennan

T: +44 (0) 20 7796 4133

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 $8,296 million and EBITDA of $2,203 million in 2014. Severstal's crude steel production in 2015 reached 11.5 million tonnes. www.severstal.com