Severstal comments on the European Council Regulation (EU) 2022/336 as of 28 February 2022

PAO Severstal (MOEX: CHMF; LSE: SVST) notifies that on 28 February 2022 the Council of the European Union designated certain persons to the list set out in Annex I to Regulation (EU) No 269/2014. These include Mr. Alexey Mordashov, Chairman of the Board of Directors and controlling shareholder of the Company.

The Company is closely monitoring the situation and assessing possible direct and indirect impact on its business and prospects. Severstal is one of the lowest cost producers in the world. The company's financial position remains strong and its debt level is low.

For further information, please contact:

Severstal Investor Relations

Vladimir Zaluzhsky, Nikita Klimantov

T: +7 (495) 926-77-66

vladimir.zaluzhsky@severstal.com; na.klimantov@severstal.com

Severstal Public Relations

Anastasia Mishanina

T: +7 (495) 926-77-66

anastasia.mishanina@severstal.com

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PАО Severstal is one of the world's most efficient metals and mining companies, working with customers and partners to create new products and integrated solutions from steel. The company's assets are located in Russia, Latvia and Poland. Severstal is listed on MOEX and the company's GDRs are traded on the LSE. Severstal reported revenue of $11.6 million and EBITDA of $6 bln in 2021. Severstal's crude steel production in 2021 reached 11.6 million tonnes.