Dividend recommendation for first six months 2016

The Board Recommends Dividend Payment for the first six months of the Financial Year ended 30 June 2016

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 19.66 rubles per share for the first six months ended 30 June 2016.

Approval of the dividend is expected at the Company's EGM which will be held by absentee voting on 2 September 2016. All Severstal shareholders on the register as at 8 August 2016 are eligible to participate.

In the case that the dividend payments for the first six months ended 30 June 2016 are approved at the EGM, the record date for this dividend payment will be 16 September 2016.