On 10 October 2011, the EVRAZ Board approved a new dividend policy. Under the revised dividend policy, EVRAZ is targeting a long-term average dividend payout ratio of at least 25% of the consolidated net profit calculated in accordance with IFRS and adjusted for non-recurring items.

Dividends are expected to be paid semi-annually. In addition to the regular dividend payments, the Company may also employ special dividends from time to time at the discretion of the EVRAZ Board to return surplus capital to shareholders.

On the back of strong financial results, during 2011 Evraz Group S.A. made its first dividend payment since 2008, paying an interim dividend of US$0.60 per share/US$0.20 per GDR and a special dividend of US$2.70 per share/US$0.90 per GDR. EVRAZ plc has also declared a cash final dividend of US$0.17 per share. This gives a total ordinary dividend for 2011 of US$317 million, which is approximately 50% of net profit adjusted for non-recurring items.

Shareholders will be asked to approve the dividend at the Annual General Meeting to be held on 18 June 2012 for payment on 9 July 2012 to ordinary shareholders on the register on 8 June 2012.