MECHEL ANNOUNCES SIGNING LONG-TERM PARTNERSHIP AGREEMENT WITH STX GROUP

Moscow, Russia — September 10, 2012 – Mechel OAO (NYSE: MTL), one of the leading
Russian mining and metals companies, announces the signing of a long-term
partnership agreement with South Korea’s STX Group during the Business Summit of
the Asia Pacific Economic Cooperation (APEC).
Chairman of the Board of Directors Igor Zyuzin signed the agreement on behalf of
Mechel OAO, and Chairman Kang Duk-soo signed it on behalf of STX Group. STX
Group is one of South Korea’s largest corporations, focusing on shipbuilding,
construction, sea transit and energy.
The agreement aims to set up a mutually beneficial partnership between the two
companies. The sides intend to cooperate in the long term on promoting products
manufactured by Mechel enterprises and STX Group, and implementing possible
joint projects. Those include cooperation in coal shipments, joint participation
in development of ports and port terminals in Russia’s Far East, as well as
cooperation in sea transit issues.
Mechel Group has strong partnership ties with South Korean customers of its
products. Mechel OAO’s official representative office was opened in Seoul in
August 2009.
“South Korean companies are traditional customers of Mechel’s coal products.
Strengthening business ties with progressive-minded companies such as STX Group
are key to successful implementation of our strategy to ensure sales for the
Elga coal deposit’s coals,” Chairman of Mechel OAO’s Board of Directors Igor
Zyuzin noted.

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Mechel OAO
Maria Kolmogorova
Tel: + 7 495 221 88 88
maria.kolmogorova@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, ferrochrome, ferrosilicon, 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.