MECHEL REPORTS CHELYABINSK GOVERNOR’S VISIT TO CHELYABINSK METALLURGICAL PLANT

Chelyabinsk, Russia — February 26, 2013 – Mechel OAO (NYSE: MTL), one of the
leading Russian mining and metals companies, reports the visit of Chelyabinsk
Region’s Governor Mikhail Yurevich to Chelyabinsk Metallurgical Plant.
Chelyabinsk Region’s Governor Mikhail Yurevich, First Deputy Governor Sergei
Komyakov, Deputy Governor Ivan Feklin, and the regional administration’s
Industry and Natural Resources Minister Yegor Kovalchuk came to Chelyabinsk
Metallurgical Plant as part of a working trip.
The delegation was hosted by Mechel OAO’s Vice-President for Technological
Development Andrey Deineko, Mechel-Steel Management Company’s Chief Executive
Officer Vladimir Tytsky and Chelyabinsk Metallurgical Plant OAO’s Managing
Director Rashid Nugumanov.
As part of the visit, the delegation toured the construction site for
Chelyabinsk Metallurgical Plant’s universal rolling mill — the chief investment
project for Mechel’s steel division. The mill will produce high-quality rails up
to 100 meters long with state-of-the-art technology. These rails will be
superior to their foreign analogues on several key counts, due to the specifics
of rail exploitation in Russia. Once the construction project, which is
currently in its final stage, is complete, the plant will create over 1,000
additional jobs. The project will cost an estimated total of over 25 billion
rubles.
Chelyabinsk Region’s governor hailed the key investment project by saying, “I am
grateful to Mechel’s shareholders for choosing Chelyabinsk Region to implement
such a project that will provide high tax receipts and jobs for highly qualified
specialists. The plant created a complete technological production line for long
rails, from making high-quality steel to rolling and thermal processing. The
mill can produce not only rails of high resistance to wear, contact endurance
and reliability in low temperatures, but also structural shapes, which are
currently in high demand due to growing volumes of construction in the country.”
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Mechel OAO
Anton Lapin
Tel: + 7 495 221 88 88
antonlapin@mechel.ru

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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.