Dividend payment and agenda for Extraordinary General Meeting (“EGM”)

The Board of Severstal, one of the world’s leading integrated steel and mining companies, is recommending a dividend of 4.37 rubles (approximately $0.15) per share for the first six months of the financial year to 30 June 2011. The record date is 24 August 2011.

The dividend payment is subject to approval at the EGM which will take place on 30 September 2011.

The Board of Severstal has approved the following agenda for the EGM: approval of dividend payments of 4.37 rubles per share for the first 6 months of the financial year to 30 June 2011.