Moscow, Russia– May 25, 2021 – Mechel PAO (NYSE: MTL, MOEX: MTLR), a leading Russian mining and metals company, announces the decisions made by its Board of Directors at a meeting held on May 24, 2021.

The Board of Directors made the following recommendations to the general meeting of Mechel PAO’s shareholders:

- not to pay an annual dividend with respect to ordinary shares;
- to pay an annual dividend of 1.17 rubles per one preferred share. 

The list of persons entitled to receive dividends for 2020 will be made based on the data in the Mechel PAO Shareholders’ Register as of July 13, 2021. 

The Board of Directors also recommended the general meeting of Mechel PAO’s shareholders to approve dividing net profit from 2020 as follows:

- to allocate 162,345,590.55 rubles for payment of dividends for listed preferred shares;
- to leave the remainder of profit (7,408,477,471.33 rubles) unallocated. 

The Board of Directors also recommended to the general shareholder meeting: 

-          to elect to Mechel PAO’s Board of Directors:

-          Igor V. Zyuzin
-          Oleg V. Korzhov
-          Georgy G. Petrov
-          Alexander N. Kotsky
-          Alexander D. Orishchin
-          Victor A. Trigubko
-          Alexander N. Shokhin
-          Irina N. Ipeeva
-          Yuriy N. Malyshev. 

-    to confirm Energy Consulting AO as auditor of Mechel PAO. 

The annual general meeting of shareholders will be held on June 25, 2021 by absentee balloting. 

Filled vote bulletins may be mailed to 125167, Moscow, Krasnoarmeiskaya St, 1, Mechel PAO. 

Bulletins in electronic form may be filled at the following Internet address: https://lk.rrost.ru 

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Mechel PAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@mechel.com