Evraz Regulatory News (EVR)

EVRAZ plc

FOR IMMEDIATE RELEASE

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

8 February 2022

EVRAZ plc ("EVRAZ" or the "Company")

Demerger Update

Further to the Company's announcement on 15 December 2021 regarding the potential demerger of its coal assets consolidated under PJSC Raspadskaya (the "Demerger"), the Company today announces that the Capital Reduction has been confirmed by the UK Court.

The Capital Reduction will become effective upon the Court order being registered by the Registrar of Companies, which is expected to take place during the course of this week. The Company notes that, once the Capital Reduction has become effective, the Company will have sufficient distributable reserves to effect the Demerger. Further to the Company's announcement on 1 February 2022 that 848,188,421 deferred shares of US$9.66766321843 each (the "Capital Reduction Shares") were issued by the Company, such Capital Reduction Shares will be cancelled once the Capital Reduction becomes effective. The timetable set out in that announcement remains the expected timetable in relation to the Demerger.

Defined terms used but not defined in this announcement have the meanings set out in the Shareholder Circular published by the Company on 15 December 2021. The Shareholder Circular includes details on the steps EVRAZ Shareholders are advised to take to receive the RASP Shares to which they will be entitled following the Demerger, which will include opening or otherwise holding an account with a direct or indirect participant of a clearing institution eligible to receive RASP Shares (such as Euroclear, Clearstream or the NSD), and providing the details of such account to the Company's registrar by no later than 15 March 2022. The Shareholder Circular also includes details on the Share Sale Facility.