Evraz Regulatory News (EVR)

EVRAZ Q1 2012 OPERATIONAL RESULTS

16 April 2012 - EVRAZ plc (LSE: EVR) today released its operational results for the first quarter of 2012.

HIGHLIGHTS Q1 2012 vs. Q4 2011:

·; Consolidated crude steel production increased by 5% after completion of maintenance works at EVRAZ ZSMK steel mill in Russia, EVRAZ Pueblo and Regina in North America

·; The share of finished products in the consolidated steel product mix increased from 76% to 81% mainly due to the increase in railway and flat-rolled steel production

·; Coking coal production increased by 41% in absence of longwall repositionings at mines

STEEL

In Q1 2011, EVRAZ's overall production of crude steel increased by 5% against Q4 2011 and remained broadly flat compared to Q1 2011. The trend of redistribution of available steel volumes towards the production of higher value added finished products has continued. The share of finished products in the Group's total steel production increased from 74% in Q1 2011 to 76% in Q4 2011 to 81% in Q1 2012.

Russia

Crude steel production volumes increased by 6% in Q1 2012 compared to the previous quarter due to the completion of scheduled maintenance at the EVRAZ ZSMK converter shop in Q4 2011 and were unchanged compared to Q1 2011. Our steelmaking facilities remained fully utilised in 2011 and demand for domestically consumed finished products improved, which resulted in a 7% increase in production of construction products in Q1 2012 compared with the Q1 2011 volumes. Production of semi-finished steel decreased by 15%. The Q1 2012 on Q4 2011 comparison (+2% for semi-finished products vs -2% for construction products) reflects the traditional seasonal adjustments of the product mix.

Railway products output increased by 23% in Q1 2012 compared to the previous quarter and by 15% compared to Q1 2011. This was due to the completion of the modernisation at EVRAZ NTMK's rail mill in October 2011 which resulted in an increase in the rail mill's capacity. Starting from Q2 2012 production volumes of railway steel will decrease due to lower output of rails as the EVRAZ ZSMK's rail mill will be closed for modernisation for five months.

Ukraine

In Q1 2012, crude steel production decreased by 8% compared to Q4 2011 due to planned maintenance work at one of the blast furnaces. Demand for finished goods has improved. Consequently, production of construction products increased by 8% compared to the previous quarter. However, due to lower crude steel output, which affected total production volumes of steel products, production of construction products was 9% less than in Q1 2011.

North America

Crude steel production increased by 12% in Q1 2012 vs. Q4 2011 following completion of scheduled maintenance at steel making facilities in Pueblo and Regina in October 2011.

Rail production at EVRAZ Pueblo declined by 6% compared to Q4 2011 principally due to a four-day shutdown of the rail mill for clearing the finishing docks, developing a Lean process flow and ultimately increasing the finishing capacity.

Europe

The production of crude steel at EVRAZ Vitkovice Steel in Q1 2012 decreased by 9% compared to the previous quarter as a result of the steel shop operating at maximum capacity in Q4 2011 to meet 2011 hot metal delivery volumes under a supply contract with ArcelorMittal Ostrava. Production of construction products decreased in Q1 2012 following the shutdown in February of the loss making heavy section mill due to weak demand.

South Africa

In Q1 2012, EVRAZ Highveld Steel and Vanadium produced 9% more steel products, and in particular 22% more construction products, than in Q4 2011 since in December 2011 the structural mill was closed for maintenance.

MINING

Iron Ore

Overall production of saleable iron ore products in Russia was 3% lower than in Q4 2011. Saleable concentrate production decreased by 18% over Q4 2011 due to the decision to reduce the use of external raw iron ore in concentrate production.

Coking Coal

In Q1 2012, raw coking coal production at Yuzhkuzbassugol increased by 41% against Q4 2011 and by 13% against Q1 2011 with the resumption of operations at the Abashevskaya mine on 23 October 2011 and at the Osinnikovskaya mine on 20 December 2011 and the launch of production at the Ulyanovskaya mine on 18 October 2011. As a result of the above, coking coal concentrate production grew by 9% over the previous quarter.

Steam Coal

Raw steam coal production decreased by 92% in Q1 2012 compared to Q4 2011 as it was impacted by longwall repositionings at both Yuzhkuzbassugol's steam coal mines, Gramoteinskaya and Kusheyakovskaya, in Q1 2012. The Kusheyakovskaya mine has resumed its operations in April.

VANADIUM

In Q1 2012, EVRAZ's total production of primary vanadium (vanadium slag) grew by 22% against Q1 2011, mainly resulting from a 33% growth in slag production in Russia due to increased efficiency of vanadium extraction at EVRAZ NTMK. In Q1 2012, the increase in production of ferrovanadium by 9% compared to Q4 2011 and by 14% compared to Q1 2011 was driven by higher market demand. The ferrovanadium production at EVRAZ Vanady Tula and Nikom was fully utilised. Nitrovan® production declined by 36% and 40% compared to Q4 2011 and Q1 2011 respectively due to planned maintenance at Vametco, South Africa, in Q1 2012.

* * *

Please note that the total volume of steel products in the table below excludes those re-rolled at other EVRAZ's mills. These volumes are eliminated as intercompany sales for purposes of EVRAZ's consolidated operating results.

PRODUCTION VOLUMES

*Numbers may not add to totals due to rounding. Percent changes based on numbers prior to rounding.

1 Calculated in pure vanadium equivalent.

2 EVRAZ holds a 41% effective interest in the Raspadskaya coal company.

AVERAGE SELLING PRICES

Notes:

Semi-finished products include slabs, billets, pipe blanks and other semi-finished products.

Construction products include beams, channels, angles, rebars, wire rods, wire, and other construction products.

Railway products include rails, wheels, tyres and other railway products.

Flat-rolled products include commodity plate, specialty plate and other flat products.

Tubular products include large diameter line pipes, ERW pipes and casings, seamless pipes and other tubular products.

Other steel products include rounds, grinding balls, mine uprights, strips etc. For Ukraine they also include railway products, for Europe - slabs and crane rails; for South Africa - rails.

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For further information:

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

ir@evraz.com

Media Relations:Oleg KuzminVP, Corporate CommunicationsLondon: +44 207 832 8998 Moscow: +7 495 937 6871media@evraz.com

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 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 adjusted EBITDA amounted to US$2,898 million. EVRAZ plc holds 100% of Evraz Group S.A.