PAO Severstal: The forced conversion of GDRs has been prolonged in the Russian Federation

The forced conversion of GDRs has been prolonged in the Russian Federation

PAO Severstal (MOEX: CHMF) (Severstal) informs that the deadline for applying for forced conversion of Severstal's Global Depositary Receipts (GDRs) have been extended until November 10, 2022 inclusive. The deadline was extended to ensure that the owners of the securities have enough time to collect the necessary documents and submit the application.

We recommend that Severstal GDR holders who wish to exercise their right of forced conversion promptly contact the Depository of Sberbank PJSC to clarify the procedure and details of such forced conversion.

For questions related to the conversion, investors should contact the following contacts: tel. +7 (495) 665-56-00 ext. 18-721, +7 (495) 669-09-99 ext. 18-721, email: depository@sberbank.ru

We also remind you that Sberbank PJSC has published a procedure and a list of questions and answers, which you can read at this link: https://www.sberbank.ru/common/img/uploaded/dp/information-on-procedure-of-forced-conversion-severstal-gdr_eng.pdf

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

***

P Severstal is a vertically integrated steel and steel-related mining company, working with customers and partners to create new products and integrated solutions from steel. The company's production facilities are located in Russia. Severstal is listed on MOEX (CHMF). Severstal reported revenue of $11.6 bln and EBITDA of $6 bln in 2021. Severstals crude steel production in 2021 reached 11.6 million tonnes.