MECHEL REPORTS RECEIPT OF NYSE NOTIFICATION

Moscow, Russia — February 3, 2016 – Mechel OAO (MICEX:MTLR, NYSE: MTL), one of
the leading Russian mining and metals companies, reports receiving notice from
the New York Stock Exchange (NYSE) that Mechel OAO’s American Depositary
Receipts (ADRs) are compliant with the listing’s standards requiring that an
ADR’s average closing price over 30 consecutive trading days must not be lower
than 1 US dollar.
On August 19, 2015, Mechel OAO received an official NYSE notice that the
company’s ADRs were no longer compliant with the NYSE listing’s standards
requiring that an ADR’s average closing price over 30 consecutive trading days
must not be lower than 1 US dollar. The company’s ADRs were assigned a <.BC>
suffix.
On December 29, 2015, the company announced a ratio change to its ADR program
from one (1) ADR per one (1) ordinary share to one (1) ADR per two (2) ordinary
shares.
On January 12, 2016 the ratio change took effect, and the price per ADR totaled
US$1.53. During January’s last trading session, on January 29, 2016, the closing
price for Mechel’s common share ADRs was 2 US dollars, and the average closing
price over the last 30 trading sessions amounted to $ 1.10 per ADR.
On February 1, 2016, the company received official confirmation from the NYSE
that its common-share ADRs were compliant with the listing’s standards. The
<.BC> suffix will be removed by the NYSE.

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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 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.
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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.