MECHEL REPORTS DECISIONS OF GENERAL BONDHOLDERS’ MEETINGS

Moscow, Russia – June 6, 2015 – Mechel PAO (MICEX: MTLR, NYSE: MTL), one of the
leading Russian mining and metals companies, announces the decisions made at the
general meetings of the holders of the company’s 17, 18 and 19-series bonds
regarding changes to the current repayment schedule and the interest rate for
future periods.

The bondholders have approved by absentee ballot the new restructuring
parameters for the 17th, 18th and 19th series bonds (state number 4-17-55005-E
dated 10.08.2010, state number 4-18-55005-E dated 10.08.2010 and state number
4-19-55005-E dated 10.08.2010 respectively). The approved parameters include
amortization of debt until 2021 and the coupon rate as the average between the
Central Bank of Russia’s key rate plus 2.5% and a fixed figure determined for
each year (annual decrease by 100 basis points from 13.5% to 9.5%). Over 75% of
holders of each series voted in favor of the offered conditions.

VTB Capital AO, Gazprombank AO and AKB Svyaz-Bank PAO acted as the company’s
agents for the bonds’ restructuring.
“The conditions approved by bondholders enable us to have a debt repayment
schedule without a significant outflow from the group’s operational cash flow.
We are grateful to our bondholders for their willingness to accommodate the
company and the restructuring agent banks for the result they achieved and their
supreme effort,” Mechel PAO’s Chief Executive Officer Oleg Korzhov noted.
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Mechel PAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@mechel.com

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Mechel is an international mining and steel company which employs 66,000 people.
Its products are marketed in Europe, Asia, North and South America, Africa.
Mechel unites producers of coal, iron ore concentrate, steel, rolled products,
ferroalloys, heat and electric power. All of its enterprises work in a single
production chain, from raw materials to high value-added products.
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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.