Severstal Director resignation

PAO Severstal (MOEX: CHMF; LSE: SVST) notifies that Sakari Tamminen, Philip Dayer and Alun Bowen Independent Directors of the Company resigned from its Board of Directors. Agnes Ritter an Executive Director has also have resigned from the Board of Directors. These resignations shall be effective from 2 March, 2022.

Alexander Shevelev, Severstal's CEO commented:

"I regret to inform our shareholders that in the light of the present geopolitical situation Sakari Tamminen, Philip Dayer, Alun Bowen and Agnes Ritter decided to resign from Severstal's Board of Directors. They have been core members of the Board team for many years and I'd like to thank them for their competence and valuable contribution to our business".

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.