EVRAZ

Evraz is committed to the highest standards of corporate governance and corporate responsibility. To meet the expectations of the company’s stakeholders and to set out Evraz’s commitments, on 25th of April, 2007 Evraz’s Board of Directors approved a new set of internal policies including a Code of Corporate Governance, a Code of Business Conduct, a Code of Ethics and a Social Investment Guidelines.

The Code of Corporate Governance has been approved by the Board of Directors and sets out principles and guidance for relationships between the Company’s management, its Board, shareholders and other external audiences. The Code illustrates Evraz’s commitment to international standards of governance, and effective and responsible management of the company. It sets out the accountability of the company’s directors to shareholders and confirms our commitment to creating long term value, including paying dividends of at least 25% of the company’s consolidated annual income, as calculated under IFRS, throughout the business cycle. The Code of Corporate Governance is part of the Group’s efforts to ensure that business practices are transparent and that the company acts in an accountable manner. To meet international standards, the Code is based on the main principles of the Combined Code on Corporate Governance and the Ten Principles of Corporate Governance of the Luxembourg Stock Exchange.

The Code of Ethics is a statement of the company’s values and beliefs. It applies to all our employees, at all levels, world-wide. It sets out Evraz’s position on, amongst other issues, human rights, health and safety, local communities and corruption. The Code of Ethics aims to help our employees understand our beliefs and encourages them to respect and uphold the high standards we have set.

The Code of Business Conduct sets out Evraz’s commitment to corporate responsibility, sustainable development and good relations with business partners and other stakeholders. Evraz makes every effort to comply with international, national and local laws and regulations. Going beyond regulatory compliance, Evraz has a role to play in ensuring the company’s impact on local communities and environments is a positive one. The company contributes directly to communities through social investment programmes and places great emphasis on developing innovative new production techniques which lessen its environmental footprint. Evraz recognises its obligations to its shareholders, employees, suppliers and competitors and seeks to conduct these relationships in a fair and trusted way.

The Social investment Guidelines sets out Company’s principals and priority areas for investments in communities, charity and sponsorship.