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.

Approve the interested party transaction which was executed:

1). Parties: Supplier - PAO Severstal; Purchaser - AO Severstal Distribution; content of transaction: Supplier shall deliver, Purchaser shall accept and pay for the steel products as per Purchaser's Requests in accordance with product description and quantity specified in the Agreement; term of transaction: the Agreement shall remain effective form the date of its signature till December 31, 2019; the contractual amount: 16,000,000,000 (sixteen billion) roubles; date of transaction (Agreement): 14.11.2018.

2). Parties: Supplier - PAO Severstal; Purchaser - AO Severstal Distribution; content of transaction: Supplier shall deliver, Purchaser shall accept and pay for the steel products as per Purchaser's Requests in accordance with product description and quantity specified in the Agreement; term of transaction: the Agreement shall remain effective form the date of its signature till December 31, 2019; the contractual amount: 16,000,000,000 (sixteen billion) roubles; date of transaction (Agreement): 21.11.2018.

3). Parties: Vendor - PAO Severstal; Vendee - Severstal Export GmbH; content of transaction: Vendor shall sell, Vendee shall purchase steel products in accordance with Specification; 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 March 31, 2020; the contractual amount: preliminary contractual amount 200,000,000 (two hundred million) euro; date of transaction (Agreement): 27.11.2018.

4). Parties: Buyer - PAO Severstal; Seller - OOO Metall-group; content of transaction: according to the public auction results OOO Metall-group, the Seller, shall transfer the Buyer and the Buyer shall accept and pay for OOO Metall-group's assets presented by Lot № 1 comprising of 6 079 281 210 ordinary registered uncertified shares of AO Yakovlevsky GOK in the manner and time limits specified in the Agreement; term of transaction: the Agreement shall be deemed to be fulfilled after the full payment of the purchased assets by the Buyer and transfer of assets by the Seller in compliance with the Agreement terms; the contractual amount: 7,890,907,010.58 (seven billion eight hundred ninety million nine hundred seven thousand ten) roubles 58 kopecks; date of transaction (Agreement): 27.11.2018.

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: November 27, 2018.

Date of the Board meeting's Minutes of the joint-stock company, at which such a resolution has been approved: 27.11.2018, Minutes № 17/2018.