EVRAZ

The Directors of EVRAZ plc intend to adopt a dividend policy which will take into account, and depend upon, the profitability of the business and underlying growth in earnings of the EVRAZ Group, as well as its ongoing capital requirements and cash flows, the availability of funds and other relevant factors.

Following Admission, in the absence of unforeseen circumstances and assuming the EVRAZ Group’s performance continues in line with the Board’s expectations, the Company will target to maintain a long-term average dividend payout ratio of at least 25 per cent. of the consolidated net profit calculated in accordance with IFRS and adjusted for non-recurring items, for the relevant period. The Company may only pay dividends if distributable reserves are available for the purpose.

Dividends will be declared and paid in U.S. dollars, although Shareholders will be able to elect to receive their dividend payments in pounds sterling or Euros based on the exchange rates in effect at the date of such election.

The Directors currently expect to declare a dividend concurrently with the publication of the EVRAZ Group’s preliminary full year results for 2011.