ANNUAL REPORT 2017

Consolidated statements of cash flows

PAO Severstal and subsidiaries

Consolidated statements of cash flows
Years ended 31 December 2017, 2016 and 2015

(Amounts expressed in millions of US dollars, except as otherwise stated)

* For the year ended 31 December 2017 this amount includes purchase of rights to claim debt obligations for a total consideration of 6 billion roubles (US$ 101 million at the transaction date exchange rate) which were acquired in July 2017 (Note 29).
** These amounts include repurchase and redemption of bonds of US$ nil for the year ended 31 December 2017, repurchase and redemption of bonds of US$ 372 million for the year ended 31 December 2016 and repurchase of bonds of US$ 635 million for the year ended 31 December 2015.

The accompanying notes form an integral part of these consolidated financial statements.