Result of AGM

Results of the Annual General Meeting

PAO Severstal (MICEX-RTS: CHMF; LSE: SVST), one of the world's leading vertically integrated steel and steel-related mining companies, announces that the following resolutions were all passed at the Company's Annual General Meeting ("AGM") held on 24 June 2016 in Cherepovets, Russia:

1. To re-elect the following persons to the Board of Directors of Severstal: Alexey Mordashov, Mikhail Noskov, Vadim Larin, Alexey Kulichenko, Vladimir Lukin, Philip John Dayer, David Alun Bowen, Alexander Auzan, Veikko Sakari Tamminen, and Vladimir Mau.

2. To approve the Annual Report and annual accounting (financial) statements for 2015.

3. a) To distribute profits for the 2015 year via paying a dividend of 20.27 rubles per share;

b) not to distribute the remainder of the profits for the 2015 year.

4. To pay a dividend of 8.25 rubles per share for the first three months of the 2016 ended on 31 March 2016.

5. To re-elect the Internal Audit Commission comprising of the following persons: Roman Antonov, Svetlana Guseva, Nikolai Lavrov.

6. To approve AO KPMG (TIN 7702019950; principal Registration Number of the Entry in the State Register of Auditors and Audit Organisations: 10301000804) as Severstal's Auditor.

7. To approve the new edition of the Charter of Severstal.

8. To approve some potential interested party transactions to be executed with PAO Sberbank of Russia (Note: Mr. Vladimir Mau is a Member of Severstal's Board and Sberbank's Supervisory Board).

As previously announced, the record date for both dividend payments confirmed in resolutions 3 and 4 above will be 5 July 2016.