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 14.65 rubles per share for the twelve months to 31 December 2014.

Approval of the dividend is expected at the Company's AGM which will take place on 25 May 2015 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 13 April 2015.

If the dividend payment for the 12 months ended 31 December 2014 is approved at the AGM, the record date for this dividend payment will be 5 June 2015.

For further information, please contact:

Severstal Investor Relations

Vladimir Zaluzhsky

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

[email protected]

Severstal Public Relations

Elena Kovaleva

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

[email protected] 

Severstal's financial communications agent - Hudson Sandler

Andrew Hayes / Maria Ignatova / 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 the Moscow Stock Exchange with GDRs being traded on the London Stock Exchange. Severstal reported revenue of $9,434 million* and EBITDA of $1, 818 million* in 2013. Severstal's crude steel production in 2014 reached 11.3 million tonnes. www.severstal.com

* These amounts reflect adjustments made in connection with the presentation of the discontinued operation.