10 March 2022

FOR IMMEDIATE RELEASE

EVRAZ plc ("EVRAZ" or the "Company") - OWNERSHIP AND CONTROL OF THE COMPANY, SUPPLY OF STEEL BY THE GROUP

Further to the extension of the UK Sanctions List published on 10 March 2022, the Company wishes to make the official statement on the current shareholding and effective control of the Company.

The Company confirms that Mr Roman Abramovich is one of the significant shareholders of the Company with a direct holding of 417,767,314 shares, which constitutes 28.64% of the issued capital.

Under the relationship agreement with Mr Roman Abramovich, he is entitled to appoint up to 3 directors. The current composition of the Board is 11 members, among which there are 6 independent non-executive directors. Over the last 5 years, only 2 directors have been appointed by Mr Abramovich.

Having regard to the above, the Company does not consider Mr Roman Abramovich as a person exercising the effective control of the Company as he:

-              does not hold (directly or indirectly) more than 50% of the shares or voting rights in the Company;

-              has no right (directly or indirectly) to appoint or remove a majority of the board of directors of the Company;

-              is not able to ensure the affairs of the Company are conducted in accordance with his wishes, including:

·    appointing solely by exercising his voting rights, a majority of the members of the administrative, management or supervisory bodies of the Company;

·    controlling alone, pursuant to an agreement with other shareholders of the Company, a majority of shareholders' voting rights in the Company;

·    having the right to exercise a dominant influence over the Company, pursuant to an agreement entered into with the Company, or to a provision in its Memorandum or Articles of Association;

·    having the right to exercise a dominant influence referred to in the point above, without being the holder of that right (including by means of a front company);

·    having the ability to direct another entity in accordance with his wishes.

In view of the aforesaid, the Company considers that the UK financial sanctions shall not apply to the Company itself.

Furthermore, the Company denies the statement that it is or has been involved in providing financial services, or making available funds, economic resources, goods or technology that could contribute to destabilising Ukraine or undermining or threatening the territorial integrity, sovereignty or independence of Ukraine - which includes potentially supplying steel to the Russian military which may have been used in the production of tanks.

The Company confirms that it supplies long steel to infrastructure and construction sectors only.

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