Investor Presentaiton

Development Plans > Enhancement of Production Platform Enhancement of Production Platform Capex drives output growth and improvements in efficiency Over USD 10 billion¹ Total Investment Capex 2007-15 2015 output Upstream Downstream Midstream, 123 Crude steel • 22 m t Main Goals • Increase steel production Quality improvements Fast growth of HVA products Efficiency gains Change > 100% • • Major projects² BF #7 (+3.4 m tpy) - Novolipetsk EAF (+1.5 m tpy) - Novolipetsk EAF (+3.6 m tpy) - Maxi-Group (to reach 6.0 m tpy) • 6.9 m tpy of HRC >30% Finished steel products . • 0.6 m tpy of HR thick plate (Flat and long steel) • 5.9 m tpy of longs and pipes³ >20% 3 x • • 3 CR mills (+0.57 m tpy) - Novolipetsk Pre-painting line (+0.2 m tpy) - Novolipetsk Galvanizing line No.4 (+0.3 m tpy) - Novolipetsk Wire-rod (+1.0 m tpy) - Maxi-Group Rebar and shaped profile (+2m tpy) - Maxi-Group Pelletizing plant - Stoilensky GOK Coal deposit development - Zhernovskoe 1 Pellets Coking coal Coke • 6.0 m tpy • 3 m tpy (by 2012) • 6.5 m tpy ~30% • Battery #6 construction - Altai-koks Scrap Energy Excluding raw materials assets capex; ~7.8 m tpy >60% of requirements4 Go to slides #30-31 for more detailed information; The numbers are preliminary and could be further changed; 4. Numbers for the main production site ~160% ~40% • Scrap collecting yards expansion - Maxi-Group Additional electric generating capacities to be installed - Novolipetsk 17

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