OREANDA-NEWS. April 15, 2016. Mechel PAO (MICEX: MTLR, NYSE: MTL), a leading Russian mining and metals company, reports that the companys Board of Directors made the following recommendations for voting at Extraordinary General Shareholders Meeting scheduled for May 26, 2016.

In compliance with task appointed by the Board, Special Committee of independent directors commissioned an independent consultant Renaissance Capital Financial Consultant Ltd to prepare a fairness opinion.

Based on the unanimous view of the Special Committee, which was worked out on the basis of the independent consultants expert opinion, the companys Board of Directors recommended Mechel PAOs extraordinary general shareholders meeting to approve the transactions of providing and changing suretyships and pledges provided by the company to the following lenders: Sberbank PJSC, Gazprombank (Joint Stock Company), VTB Bank (PAO) and the syndicate of banks as transactions that meet Mechel PAOs interests.

Proxy Submission Deadline:

For ADR voting MAY 18, 2016 at 10:00 AM New York City Time
For common share voting MAY 24, 2016 at 19:00 Moscow Time
YOUR VOTE IS CRITICAL! WE APPRECIATE YOUR SUPPORT!

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If you have any questions about this process or need assistance in voting your shares,
please call our proxy solicitor:

INNISFREE M&A INCORPORATED at 1-212-750-2668.

To review the materials for the Extraordinary General Meeting online:
www.mechel.com/shareholders/corporate_governance/shareholders_meeting