Met Coal Demerger

16 December 2021

TODAY'S SPEAKERS

Sir Michael Peat

Alexander Frolov

Alexander Kuznetsov

Senior Independent

Non-Executive Director

Vice President, Corporate Strategy and

Non-Executive Director

Performance Management

2

TODAY'S AGENDA

P. 5 Strategic rationale

P. 8 Process considerations

P. 14 Raspadskaya value proposition

P. 20

Q&A

3

PROPOSED MET COAL DEMERGER

Overview

Process2

  • Proposed Demerger of EVRAZ met coal business, consolidated under PJSC Raspadskaya (hereinafter referred to as "Raspadskaya" or "RASP")
  • EVRAZ Board believes the separation of the two businesses serves the long-term interests of EVRAZ and Raspadskaya shareholders, employees, clients and other stakeholders
  • Demerger to be effected by EVRAZ making in specie distribution of its shares in PJSC Raspadskaya, which are listed on the Moscow Exchange (ticker: RASP), to EVRAZ shareholders
  • Those EVRAZ shareholders, unable to receive and/or hold Raspadskaya Shares, will be provided the opportunity to participate in the Share Sale Facility
  • EVRAZ will retain the London Stock Exchange premium listing, while Raspadskaya will continue to be listed on the Moscow Exchange
  • Demerger is subject to the approval by EVRAZ shareholders (EGM on 11 January 2022) and the Court approval of the capital reduction (8 February 2022)
  • Demerger record time (entitlement to Raspadskaya shares) to be determined on 15 February 2022 (please also see p.10 and 11 for more details on the timeline and distribution process)
  • Deadline for receipt of RASP Shares Information form1 - 6.00 p.m. on 15 March 2022
  • Demerger execution (transfer of Raspadskaya shares) is expected on 7 April 2022

Please refer to EVRAZ shareholder circularpublished on 15 December 2021 for full details on timelines, terms & conditions

Sources: Company information

Notes: 1 Form needed to be completed to receive Raspadskaya shares; 2 All times are indicative only and subject to change

4

Strategic Rationale

Sir Michael Peat

Senior Independent Non-Executive Director

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Evraz plc published this content on 16 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 December 2021 09:08:06 UTC.