MECHEL REPORTS BOARD OF DIRECTORS’ DECISION

Moscow, Russia — April 30, 2013 – Mechel OAO (NYSE: MTL), one of the leading
Russian mining and metals companies, announces its Board’s dividend
recommendation.
On April 30, 2013, Mechel’s Board of Directors held a meeting confirming
recommendations to the annual general shareholders’ meeting regarding the
payment of dividends based upon the results of the 2012 fiscal year:
• the Board recommended not to pay an annual dividend with respect to ordinary
shares;
• the Board recommended an annual dividend of 0.05 rubles per one preferred
share (approximately $0.0016 per one preferred share and $0.0008 per one
preferred ADR*).
Dividends must be paid within 60 days of being declared at the annual general
shareholders’ meeting.
The Board recommended to Mechel OAO’s general shareholders’ meeting to divide
profit from the 2012 fiscal year as follows:
• to allocate 6,937,845.75 rubles (approximately $221,969.16*) for payment of
dividends for listed preferred shares;
• to leave 19,174,169,396.24 rubles (approximately $613,457,599.88*)
unallocated.
The list of persons entitled to take part in the general shareholders’ meeting
and the list of persons entitled to receive dividends for the 2012 fiscal year
will be made based on the data in the Shareholders’ Register as of May 17, 2013.
The annual general shareholders’ meeting will be held on June 28, 2013, at the
address: 1 Krasnoarmeyskaya Ul., Moscow, Russian Federation.
* Based on the Russian Central Bank exchange rate of 31.2559 RUR/$ as of April
30, 2013.
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Mechel OAO
Anton Lapin
Tel: + 7 495 221 88 88
antonlapin@mechel.ru

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Mechel is one of the leading Russian companies. Its business includes four
segments: mining, steel, ferroalloy and power. Mechel unites producers of coal,
iron ore concentrate, nickel, ferrochrome, ferrosilicon, steel, rolled products,
hardware, heat and electric power. Mechel products are marketed domestically and
internationally.
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Some of the information in this press release may contain projections or other
forward-looking statements regarding future events or the future financial
performance of Mechel, as defined in the safe harbor provisions of the U.S.
Private Securities Litigation Reform Act of 1995. We wish to caution you that
these statements are only predictions and that actual events or results may
differ materially. We do not intend to update these statements. We refer you to
the documents Mechel files from time to time with the U.S. Securities and
Exchange Commission, including our Form 20-F. These documents contain and
identify important factors, including those contained in the section captioned
“Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in our
Form 20-F, that could cause the actual results to differ materially from those
contained in our projections or forward-looking statements, including, among
others, the achievement of anticipated levels of profitability, growth, cost and
synergy of our recent acquisitions, the impact of competitive pricing, the
ability to obtain necessary regulatory approvals and licenses, the impact of
developments in the Russian economic, political and legal environment,
volatility in stock markets or in the price of our shares or ADRs, financial
risk management and the impact of general business and global economic
conditions.