Severstal' : Corporate Event Notice “Information about the resolutions taken by the Company’s Board of directors”

Quorum for conducting the meeting and approving the Board resolutions on items of the agenda is reached.

Voting results and resolutions taken by the Company's Board of directors:

1. Voting results: The resolution is taken by a majority vote of members of the Company's Board of directors, who are not interested in execution of these transactions and who comply with the requirements set by item 3 of Article 83 of the Federal Law N 208-FZ 'On Joint Stock Companies' dated December 26, 1995 (hereinafter referred to as the Law on JSC).

The following resolution is taken:

According to Article 83 of the Law on JSC to grant the consent for the execution and approval of interested party transactions. According to part 16 of Article 30 of the Federal Law N 39-FZ 'On the Securities Market' dated April 22, 1996, information about the terms and conditions of the transactions, as well as the persons that are deemed to be the parties and beneficiaries thereunder shall not be disclosed until the transactions are concluded.

To approve the executed interested party transactions:

Parties: Vendor - PAO Severstal; Vendee - Severstal Export GmbH; content of transaction: Vendor shall sell, Vendee shall purchase steel products. Range of products, their quantity, cost, technical conditions and other quality requirements, terms and conditions of delivery shall be indicated in Specification (Specifications) attached to the Agreement. Specification (Specifications) shall constitute an integral part of the Agreement; term of transaction: the Agreement shall come into force from the date of its signature by the authorized representatives of the Parties and remain effective till June 30, 2018; the contractual amount: preliminary contractual amount 130,000,000 (one hundred thirty million) US dollars; date of transaction (Agreement): 14.12.2017.

2. Voting results: The resolution is taken by a majority vote of members of the Company's Board of directors, who are not interested in execution of these transactions and who comply with the requirements set by item 3 of Article 83 of the Law on JSC.

The following resolution is taken: According to the article 77 of the Law on JSC to determine that the price of disposed or acquired property under abovementioned interested party transactions with estimated cash value is deemed to be a market value.

Date of the Board meeting, at which such a resolution has been approved by the joint-stock company: December 29, 2017.

Date of the Board meeting's Minutes of the joint-stock company, at which such a resolution has been approved: 29.12.2017, Minutes № 18/2017.