MECHEL ANNOUNCES BOARD OF DIRECTORS’ RESOLUTIONS

Moscow, Russia – May 13, 2010 – Mechel OAO (NYSE: MTL), one of the leading
Russian mining and metals companies, announces resolutions adopted by the
company’s Board of Directors.
Mechel OAO’s Board of Directors meeting was held on May 12, 2010. The following
resolutions were adopted at the meeting:
1. Schedule Annual General Shareholders’ Meeting of Mechel OAO on June 30, 2010.
The Meeting will be held at: 1 Krasnoarmeyskaya str., Moscow, Russian
Federation.
2. Approve the Annual General Shareholders’ Meeting agenda as follows:
 - Approval of the company’s Annual Report.
 - Approval of the company’s Annual Financial Statements inclusive of the Income
Statement (Profit and Loss Accounts).
 - Distribution of the Company’s profit, including payment (declaration) of
dividends, based on the financial year results.
 - Election of members of the company’s Board of Directors.
 - Election of members of the company’s Audit Commission.
 - Approval of the auditor of the company.
 - Approval of the revised Charter of the company.
 - Approval of the revised Bylaw on the General Shareholders’ Meeting of the
company.
 - Approval of the revised Bylaw on the Board of Directors of the company.
 - Approval of the revised Bylaw on the Members of the Board of Directors’
Remuneration and Reimbursement for Expenses Associated with Performance of Their
Duties as Members of the Board of Directors.
-  Approval of related-party transactions.
3. The list of the shareholders eligible to take part in the Annual General
Shareholders’ Meeting shall be prepared based on the data of the Shareholders’
Register as of May 24, 2010.
4. Establish a Representative Office of Mechel OAO in Kemerovo to be located at:
90/4 Lenin Avenue, Kemerovo, 650036, Russian Federation. Approve the Bylaw on
Mechel OAO’s Representative Office in Kemerovo. Appoint Mr. Konstantin A.
Panfilov as the Representative Office Manager. Make relevant amendments to
Mechel OAO’s Charter.
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Mechel OAO
Ekaterina Videman
Phone: + 7 495 221 88 88
ekaterina.videman@mechel.com

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Mechel is one of the leading Russian companies. Its business includes four
segments: mining, steel, ferroalloy and power. Mechel unites producers of coal,
iron ore concentrate, nickel, steel, rolled products, hardware, heat and
electric power. Mechel products are marketed domestically and internationally.

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Some of the information in this press release may contain projections or other
forward-looking statements regarding future events or the future financial
performance of Mechel, as defined in the safe harbor provisions of the U.S.
Private Securities Litigation Reform Act of 1995. We wish to caution you that
these statements are only predictions and that actual events or results may
differ materially. We do not intend to update these statements. We refer you to
the documents Mechel files from time to time with the U.S. Securities and
Exchange Commission, including our Form 20-F. These documents contain and
identify important factors, including those contained in the section captioned
“Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in our
Form 20-F, that could cause the actual results to differ materially from those
contained in our projections or forward-looking statements, including, among
others, the achievement of anticipated levels of profitability, growth, cost and
synergy of our recent acquisitions, the impact of competitive pricing, the
ability to obtain necessary regulatory approvals and licenses, the impact of
developments in the Russian economic, political and legal environment,
volatility in stock markets or in the price of our shares or ADRs, financial
risk management and the impact of general business and global economic
conditions.