PAO Severstal: Severstal's response to the latest developments in Ukraine

Severstal's response to the latest developments in Ukraine

Severstal is closely monitoring the situation and any potential implications for its business. Severstal's assets continue to operate as normal and the Company retains its strong financial position and low debt level. Severstal's highly efficient business model gives us considerable operating strength, reflected in our position as one of the lowest cost public steel companies in the world.

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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P 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.