Notification on the Q1 2022 financial results publication

PAO Severstal (MOEX: CHMF; LSE: SVST) informs that the Company has decided temporarily not to publish its Financial statements for Q1 2022 due to the fact that a significant part of its shareholders is unable to make investment decisions and such a disclosure can put some stakeholders into an advantageous position in relation to the others.

Review of the payment (declaration) of dividends for the results for Q4 2021 is expected at the Annual General Meeting of Shareholders on 20 May 2022. In the current macroeconomic environment, the Management will not recommend the Board of Directors to pay dividends for Q1 2022 and Q4 2021. The Board will review and finalize dividend recommendations when approving the matters related to the preparation for the Annual General Meeting of Shareholders.

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.