PAO Severstal: Information regarding coupon payments

Information regarding coupon payments

PAO Severstal (MOEX: CHMF; LSE: SVST) ("Severstal") announces that, due to the lack of regulatory authorizations which are still pending, Severstal is technically not in the position to pay the remaining interest under the loan relating to US$ 800 mln loan participation notes (LPN) due 2024 ("2024 LPNs") issued by Steel Capital S.A. (the "Issuer") that was due on March 16, 2022 as well as the interest under the loan relating to US$750 mln LPNs due 2022 ("2022 LPNs") which is payable on April 17, 2022.

Severstal remains committed to fulfilling its obligations under the loans relating to the 2024 LPNs and 2022 LPNs, and has sufficient funds available to do so.

Due to current complexity of communication with the parties related to administration of payments under LPNs, Severstal would like to ask LPN holders to provide the following information to Severstal and/or the Issuer: (i) the type of LPNs held, i.e. 2024 LPN (ISIN Code: XS2046736919, US85805RAE80) or 2022 LPN (ISIN Code: XS0841671000, US85805RAB42); (ii) the number of respective LPNs held; and (iii) the jurisdiction of the relevant LPN holder and (if different) the jurisdiction of the account in which the relevant LPNs are held. Information can be provided to Severstal at ir@severstal.com with title "LPN holder" or to the Issuer at corporate.notifications@vistra.com addressed to "The Board of Directors".

For further information, please contact:

Investor Relations

Nikita Klimantov

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

na.klimantov@severstal.com

Public Relations

Anastasia Mishanina

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

anastasia.mishanina@severstal.com

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P Severstal is one of the world's most efficient metals and mining companies, creating new products and integrated steel solutions together with its customers and partners. 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 billion and EBITDA of $6.0 billion in 2021. Severstal's crude steel production in 2021 reached 11.6 mln tonnes. www.severstal.com