MECHEL ANNOUNCES CHANGE IN MANAGEMENT

Moscow, Russia — May 19, 2014 – Mechel OAO (NYSE: MTL), one of the leading
Russian mining and metals companies, announces the appointment of Andrey
Slivchenko as the new Chief Financial Officer of Mechel OAO, replacing Stanislav
Ploschenko.
“In his seven years in our Group, Stanislav Ploschenko proved himself as a true
professional, capable of making well-considered, occasionally unorthodox
decisions. We highly value his contribution to our company. I wish Stanislav
every success in his new job and am glad to welcome Andrey Slivchenko to our top
management team. Andrey has a wealth of experience in finance, and I am sure
that despite commodity market volatility, he will be able to handle tasks
regarding Mechel’s strategy as approved by the Board of Directors. We will
continue to work hard on improving our operational efficiency and deleveraging,”
Mechel OAO’s Chief Executive Officer Oleg Korzhov noted.
Prior to his appointment in April 2014, in 2011-2012 Mr. Slivchenko, 38, worked
as executive director and then chief executive officer of OJSC Pharmacy Chain
36.6. In 2007-2011, he was vice-president for corporate finance at United
Aircraft Corporation. In 2003-2007, he was director of corporate finance at OJSC
Pharmacy Chain 36.6. In 2001-2003, Mr. Slivchenko was director of corporate
finance at Plim Palm Enterprise. In 1998-1999, he worked as chief of financial
markets department at Uksi OOO.
Mr. Slivchenko graduated from Moscow’s International University with a specialty
in economics and management.
***
Mechel OAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@mechel.com

***
Mechel is an international mining and steel company which employs over 70,000
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.
***
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.