Moscow, Russia – April 14, 2016 – Mechel PAO (MICEX: MTLR, NYSE: MTL), a leading Russian mining and metals company, reports that the company’s Board of Directors made the following recommendations for voting at Extraordinary General Shareholders’ Meeting scheduled for May 26, 2016.

In compliance with task appointed by the Board, Special Committee of independent directors commissioned an independent consultant – Renaissance Capital – Financial Consultant Ltd – to prepare a fairness opinion.

Based on the unanimous view of the Special Committee, which was worked out on the basis of the independent consultant’s expert opinion, the company’s Board of Directors recommended Mechel PAO’s extraordinary general shareholders’ meeting to approve the transactions of providing and changing suretyships and pledges provided by the company to the following lenders: Sberbank PJSC, Gazprombank (Joint Stock Company), VTB Bank (PAO) and the syndicate of banks as transactions that meet Mechel PAO’s interests.

Proxy Submission Deadline: 
For ADR voting – MAY 18, 2016 at 10:00 AM New York City Time
For common share voting – MAY 24, 2016 at 19:00 Moscow Time
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To review the materials for the Extraordinary General Meeting online:
www.mechel.com/shareholders/corporate_governance/shareholders_meeting

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Mechel PAO
Alexey Lukashov
Investor Relations Department
Phone: + 7 495 221 88 88
alexey.lukashov@mechel.com