The repayment of Guaranteed Convertible Bonds due 2017

PAO Severstal announces the repayment of US$475,000,000 1.00 per cent Guaranteed Convertible Bonds due 2017 issued by Holdgrove Limited and guaranteed by PAO Severstal.

Holdgrove Limited (the “Issuer”), a wholly-owned subsidiary of PAO Severstal (LSE: “SVST”; MICEX-RTS: “CHMF”) incorporated under the laws of the Republic of Cyprus, has fully repaid the US$475,000,000 1.00 per cent Guaranteed Convertible Bonds due 2017 issued by the Issuer and guaranteed by PAO Severstal.