Moscow, Russia — June 29, 2012 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announces that its Annual General Shareholders’ Meeting was held on June 29, 2012.

The following key resolutions were adopted by shareholders at the meeting:

• To pay dividends of 8.06 rubles per one ordinary share (approximately $0.27 per ADR*). The payment is due to be made by bank transfer in less than 60 days since the decision to pay was made.

• To pay a dividend of 31.28 rubles per one preferred share (approximately $1.05 per one preferred share and approximately $0.52 per one preferred ADR*). The payment is due to be made by bank transfer in less than 60 days since the decision to pay was made.

• To allocate profit from past years as follows:

- dividend payment of placed Company’s ordinary shares – 3,355,142,204.7 rubles (about $112,560,335.64*)
- dividend payment of placed Company’s privileged shares – 4,340,316,301.2 rubles (about $145,611,550.82*)

• To elect the following people to Mechel’s Board of Directors:

1. Arthur David Johnson;
2. Vladimir Gusev;
3. Alexander Yevtushenko;
4. Igor Zyuzin;
5. Igor Kozhukhovsky;
6. Yevgeny Mikhel;
7. Valentin Proskurnya;
8. Roger Ian Gale;
9. Viktor Trigubko.

The number of the Board’s members remained the same as last year. Viktor Trigubko has replaced Serafim Kolpakov as member of the Board of Directors.

• To approve the Company’s Annual Report for 2011.

• To approve the Company’s Annual Financial Statements inclusive of the Income Statement (Profit and Loss Accounts) for 2011.

• To elect the following people to Mechel OAO’s audit committee:

1. Yelena Pavlovskaya-Mokhnatkina;
2. Natalya Mikhailova;
3. Andrey Stepanov.

• To appoint Energy Consulting/Audit ZAO as the auditor of Mechel OAO (Moscow).

• To approve the revised Bylaw on rewards to the members of Mechel OAO’s Board of Directors and compensation of expenses incurred by them while performing the functions of members of the Board of Directors.

* Based upon the Russian Central Bank exchange rate of 29.8075 RUR/$ as of the date of the Board of Directors’ recommendation to the General Shareholders’ Meeting on making a decision on dividend payment (May 6, 2012).