Severstal informs about submission of a notification for automatic conversion of GDRs

PAO Severstal (MOEX: CHMF; LSE: SVST) informs that, in accordance with Federal Law No. 114-FZ of April 16, 2022, it has submitted to the Depository of Sberbank PJSC, in which a deposit account of depository programs has been opened under the Global Depositary Receipts Program for ordinary shares of PJSC Severstal (ISIN US8181503025, ISIN US8181501045, hereinafter collectively referred to as the "GDR"), a notification of the action required for the holders of GDR, the rights to which are recorded in Russian depositories, to obtain the corresponding number of ordinary shares of PJSC Severstal.

Based on the notification sent to PJSC Severstal, the Depository of PJSC Sberbank will automatically convert the GDRs, the rights to which are registered in depositories in the Russian Federation, into ordinary shares of PJSC Severstal in accordance with the procedure and terms established by the decision of the Board of Directors of the Bank of Russia dated July 22, 2022.

We also remind you that for Severstal GDR, the rights to which are registered in foreign depositories, a forced conversion is possible upon application of their holders, which application can be sent to the Depository of Sberbank PJSC by October 12, 2022. We recommend that holders of Severstal GDR who wish to exercise the right of forced conversion, follow messages from the Depository of Sberbank PJSC on this topic and 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: .

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