MECHEL REPORTS DECISIONS OF ITS EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS
Moscow, Russia — March 4, 2016 – Mechel OAO (NYSE: MTL, MOEX: MTLR), a leading
Russian mining and metals company, announces that the extraordinary general
meeting of the company’s shareholders took place today.
The shareholders approved the following decisions:
1.	To terminate early the powers of members of Mechel OAO’s Board of Directors.
2.	To elect the following persons as members of Mechel OAO’s Board of Directors:
•	Vladimir V. Gusev
•	Yury N. Malyshev
•	Vladimir Y. Korovkin
•	Igor V. Zyuzin
•	Alexander N. Kotsky
•	Alexander D. Orischin
•	Oleg V. Korzhov
•	Alexey G. Ivanushkin
•	Tigran G. Khachaturov
3.	To approve the company’s charter in a new version.
4.	To approve the company’s bylaw on the General Meeting of Shareholders in a
new version.
5.	To approve the company’s bylaw on the Board of Directors in a new version.
Results of the voting on issues # 6, 7, 8, 9 were not calculated due to lack of
quorum.
“On today’s meeting, we did not manage to secure the number of votes of our
minority shareholders (holders of common shares and ADRs) required to approve
the deals with the lender banks on providing additional suretyships and pledges.
We think that one of the reasons why this happened was due to requirements on
disclosure of information on ADR holders, recently introduced into Russian law.
ADR holders account for two thirds of our minority shareholders. Additional
difficulties also arose out of the fact that many de facto holders receive
information through a chain of brokers and did not receive the depositary’s
instructions on voting in allotted time.
“We will bring the issues of approval of those deals to the next general
shareholders’ meeting and will continue to work on persuading our shareholders
to take part in the vote. I would like to offer special gratitude to Mechel’s
Russian shareholders who demonstrated unequalled unity and solidarity by voting
in support of the company,” Mechel OAO’s Chief Executive Officer Oleg Korzhov
noted.
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Mechel OAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@mechel.com
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Mechel is an international mining and steel company which employs over 67,000
people. Its products are marketed in Europe, Asia, North and South America,
Africa. Mechel unites producers of coal, iron ore concentrate, steel, rolled
products, ferroalloys, heat and electric power. All of its enterprises work in a
single production chain, from raw materials to high value-added products.
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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.