ANNUAL REPORT 2016

Disclaimer

Disclaimer

These materials may contain projections and other forward-looking statements regarding future events or financial performance of Severstal. You can identify forward-looking statements by such terms as “expect,” “believe,” “estimate,” “intend,” “will,” “could,” “may”, “might”, or other similar expressions. You acknowledge that these statements are preliminary estimations only and the actual results may differ from them substantially. Severstal will not update these statements to reflect some changes or influences occured after the date hereof. For example, such modifications may occur due to general change of economic situation or competitive environment or conditions on the steel market as well as due to other factors affecting Severstal and its operations.

These materials do not constitute any advertisement, offer or invitation to sell, buy any securities of Severstal or those of its affiliates in any jurisdiction, or to use/create any financial instrument in connection with Severstal or its affiliates, nor shall it be treated as a ground to enter into a contract of any nature with Severstal or its affiliates or any other third party.

No representation or warranty, express or implied, is given by Severstal, its affiliates or any of their respective advisers, officers, employees or agents, as to the accuracy and reliability of the information or opinions provided. Severstal does not accept any liability for any loss or damage which you or any of your affiliates or any other third party may suffer directly or indirectly in connection with your use of these materials and you must hold Severstal harmless and indemnify from any claims of any third party arising out of or in connection with your use of the materials.