Severstal - Result of Extraordinary General Meeting

OAO Severstal (“Severstal”), one of the world’s leading vertically integrated steel and steel related mining companies, announces the results of voting on the resolutions proposed at the EGM held on 20 December 2012.

The following resolutions were approved by Severstal's shareholders at the EGM: a) dividend for the first nine months of the financial year to 30 September 2012 of 3.18 ruble (approximately $0.10) per common share and per global depositary receipt (“GDR”) payable before 19 February 2013 to shareholders on the share register as at 9 November 2012.

Holders of the Company's GDRs may contact Deutsche Bank Trust Company Americas for the related GDRs’ record date and payment date.