Презентация для инвесторов, ноябрь - декабрь 2012

Investor Presentation

November - December 2012

1

EVRAZ in brief

� One of the largest vertically integrated steel and mining companies in the world

� Leader in the Russian and CIS construction and railway product markets

� One of the leading producers in the global vanadium market

� Top-20 steel producer in the world based on crude steel production of 16.8 million tonnes in 2011

� 15.5 million tonnes of steel products sold in 2011

� 2011 consolidated revenue of US$16.4 billion, EBITDA of US$2.9 billion; H1 2012 revenue of US$7.6 billion, EBITDA of US$1.2 billion

� Total debt as at 30 June 2012 of US$7.8 billion, net debt/LTM EBITDA of 2.5x

� Re-domiciliation in the UK and share listing in the Premium segment of the London Stock Exchange since 7 November 2011

� Constituent of FTSE 100 index since December 2011 and the only steel stock in UK FTSE All-Share index

� In May 2012 EVRAZ was included in MSCI UK and MSCI World Indices

Investor Presentation, November - December 2012

2

Global operating model


North America

South America Africa

Europe

Russia/CIS

Asia

100

1,717

529

231

Sea ports

Vanadium

Coal mining

Iron ore mining

Steel mills

Mezhegey coal mine in development

150

122

Third party steel products sales* (Kt), H1 2012# Internal supply of slabs and billets from Russian steel mills (Kt)#

580

H1 2012 steel sales volumeby geography

H1 2012 steel sales volumeby product

3,7301,313

* Excluding routes with sales volumes below 50kt each, together totalling 93kt

Russia & CIS48%

Europe8%

Americas17%

Asia22%

Africa and RoW4%

Semi-finished

22%

Construction37%

Railway14%

Flat-rolled18%

Tubular5%

Other4%

3

H1 2012 summary


US$ million unless otherwise stated

1 EBITDA represents profit from operations plus depreciation, depletion and amortisation, impairment of assets, foreign exchange loss(gain) and loss (gain) on disposal of property, plant and equipment and intangible assets

2 As at 30 June 2012 and 31 December 2011 respectively; short-term debt includes current portion of finance lease liabilities, including lease liabilities directly associated with disposal groups classified as held for sale

3 Here and throughout this presentation segment sales data refer to external sales unless otherwise stated

H1 2012 H1 2011 Change

Revenue 7,619 8,380 (9)%

EBITDA1 1,175 1,629 (28)%

EBITDA margin 15.4% 19.4% (21)%

Net profit/(loss) (50) 263 (119)%

Dividends for the period (cents/ordinary share) 11c 6.7c 64%

Operating cash flow 1,089 1,594 (32)%

Capex 565 462 22%

Net debt2 6,070 6,442 (6)%

Short-term debt2 1,550 626 148%

Steel sales volumes3 (‘000 t) 7,713 7,946 (3)%

4

H1 2012 financial highlights


� The major factor of the decrease in revenue was reduced steel sales volumes and prices

� Decrease in revenues and EBITDA was also a result of lower Mining segment contribution because of lower raw materials volumes and prices

(1,954) (1,587)

7,492 7,019

2,0401,383

320263

482541

8,380

7,619

H1 2011 H1 2012

Other operations

Vanadium

Mining

Steel

Eliminations

* Vanadium & Other operations consists in H1 2011 of $(3)m Vanadium segment EBITDA and $83m of Other operations EBITDA and in H1 2012 of $4m and $94m respectively

(157) (39)

744 699

962

417

80

98

1,629

1,175

H1 2011 H1 2012

Vanadium & Otheroperations

Mining

Steel

Unallocated &Eliminations

Revenue drivers, $m Consolidated EBITDA by segment*, $m

Consolidated revenue by segment, $m

8,380

(437)

(324)

7,619

H1 2011 Revenue Volumes Prices H1 2012 Revenue

5

Group cost dynamics


� EVRAZ benefits from high level of vertical integration in iron ore and coking coal

� Costs were positively impacted by rouble devaluation in H1 2012 (more than 50% of the costs are rouble-

denominated)

� In H1 2012 steel segment costs benefited from lower raw materials prices: costs of raw materials accounted for

45% of Steel segment revenues in H1 2012 vs. 51% in H1 2011

� Implementation of cost saving technologies (e.g. PCI), further development of own power generation, progress

of Lean project are expected to help mitigate negative impact of growing energy, transportation and labour costs

H1 2012, % of total CoR

H1 2011, % of total CoR

Raw materials, including 35% 40%

Iron ore 6% 8%

Coking coal 9% 12%

Scrap 14% 14%

Other raw materials 6% 6%

Semi-finished products 4% 6%

Transportation 6% 7%

Staff costs 14% 13%

Depreciation 10% 7%

Electricity 5% 5%

Natural gas 4% 4%

Other costs 22% 18%

Consolidated cost of revenues by cost elements Cash Cost*, Slabs & Billets, $/t

* Average for Russian steel mills, integrated cash cost of production, EXWSource: Management accounts

395438

415 401379 372 368

437479

448426 410 403 401

Q1 '11 Q2 '11 Q3 '11 Q4 '11 Q1 '12 Q2 '12 Q3 '12

Slabs

Billets

6

Liquidity and debt maturity profile


� Total debt of $7,833m as of 30 June 2012, having increased as a result of drawing on available credit lines to increase the cash balance

� Cash and cash equivalents totalled $1,763m ($801m as at 31 December 2011)

� $600m 5-year notes issued in April 2012 at 7.4% rate

� Net debt - $6,070m (6% decrease vs. 31 December 2011)

� Amendments to financial covenants in syndicated loan facilities provide greater financial flexibility

� Mid-term target net leverage ratio of below 2x

3

3.2

3.4

3.6

3.8

4

4.2

4.4

4.6

4.8

5

6

6.2

6.4

6.6

6.8

7

7.2

7.4

7.6

7.8

8

31/12/2010 31/03/2011 30/06/2011 30/09/2011 31/12/2011 31/03/2012 30/06/2012

% Years

414

1,124981

1,400

1,875

630

1,373

360

500

1,000

1,500

2,000

2012 2013 2014 2015 2016 2017 2018 2019-2023

Q4

Q3

Q2

Q1

Debt cost* and average maturity Debt** maturities schedule (as at 30 June 2012), $m

* Weighted average cost of debt** Principal debt (excl. interest payments)

7

FCF generation


* Free cash flow comprises cash flows from operating activities less interest paid and cash flows used investing activities

� Free cash flow generation of $362m in H1 2012

� Further release of working capital achieved

$m1,175

(43)

1,132

91

(134)

1,089

(233)

(565)

92

(21)

362

EBITDA H12012

Non-cash items EBITDA (excl.non-cash items)

Changes inworking capital(excl. income

tax)

Income tax paid Cash flows fromoperatingactivities

Net interest paid(incl. realised

gain on swaps &covenants reset

costs)

Capex CF frominvestingactivities

(excl.capex andinterest

received)

Collateral underswaps

Free cash flow

8

Q3 2012 steel production


� EVRAZ’s overall production of crude steel decreased by 3% against both Q2 2012 and Q3 2011, mainly due to decreased steel production levels at EVRAZ steel mills in the Czech Republic and South Africa

� Consolidated production of finished steel goods decreased by 8% compared to the same period last year and by 4% compared to the previous quarter of this year due to lower output of flat-rolled products in Russia and Europe and lower production of rails in Russian and American mills

27%

73%

Semi-finished products

Finished products

Production of steel products, Kt Share of finished products in product mix

0

200

400

600

800

1,000

1,200

1,400

Semi-finishedproducts

Constructionproducts

Railwayproducts

Flat-rolledproducts

Tubularproducts

Other steelproducts

Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012

9

Steel: CIS


� Full economic utilisation of Russian steelmaking capacity

maintained

� Rail sales volumes are negatively affected by planned 5-

month stoppage of the ZSMK rail mill for modernisation since

April (the mill is expected to resume production in Q4 2012)

� In Q3 2012 prices for most steel product groups reduced due

to ongoing uncertainty in global steel markets and

decreasing prices of iron ore and coking coal

� Production and prices for construction steel in the domestic

market are expected to decrease in Q4 2012 due to usual

seasonal trends

68% 67%

32% 33%

5,541 5,586

H1 2011 H1 2012

Export

Domestic

1,838 1,693

2,378 2,566

813 788

512 539

5,541 5,586

H1 2011 H1 2012

Other

Railway

Construction

Semi-finished

Products Revenue, $m Revenue, $/tonne

H1 2011 H1 2012 H1 2011 H1 2012

Semi-finished 1,159 1,028 630 607

Construction 1,833 1,933 771 753

Railway 734 720 903 914

Other 422 410 824 761

Total 4,148 4,091 749 732

Steel product sales volumes, Kt Steel product revenues

Steel product sales, domestic vs. export, Kt

10

Steel: North America


� North American steel mills operate at high utilisation levels

� We have successfully expanded into high value added products (head hardened rails, premium connection OCTG tubes, heat

treated seamless pipe)

� The rail mill is fully utilised as rail demand remains strong; record high steel output and sales of rails in H1 2012

� The expansion to the heat treatment facility in Calgary

� Overall demand for OCTG drilling activity remains stable with some slight signs of temporary weakness in October

Steel product sales volumes, Kt

165 154

242 255

511 534

403 371

1,321 1,314

H1 2011 H1 2012

Tubular

Flat-rolled

Railway

Construction &other steel

Steel product revenues

Products Revenue, US$m Revenue, $/tonne

H1 2011 H1 2012 H1 2011 H1 2012

Construction & othersteel products 153 140 927 909

Railway 249 266 1,029 1,043

Flat-rolled 578 571 1,131 1,069

Tubular 589 579 1,461 1,561

Total 1,569 1,556 1,188 1,184

11

Steel: Europe, South Africa


� H1 2012 EBITDA of European operations was $6m despitethe weak economic environment

� In October the crude steel production at EVRAZ VitkoviceSteel was temporarily closed due to low demand and thecompany's plan to reduce its inventory

� EVRAZ Highveld launched an optimisation programme toreduce fixed costs

� Improved working shift schedules in South Africa areexpected to result in increased workplace safety, reducedovertime and higher productivity

Steel product revenueSteel product sales volumes,

South African operations, Kt

Steel product sales volumes,

European operations, Kt

631505

109

38

740

543

H1 2011 H1 2012

Other

Flat-rolled

108 90

183

145

52

35

343

270

H1 2011 H1 2012

Other

Flat-rolled

Construction

Products Revenue, $m Revenue,$/tonne

H1 2011 H1 2012 H1 2011 H1 2012

European operations

Flat-rolled 598 398 948 788

Other 104 37 954 974

Total 702 435 949 801

South African operations

Construction 89 71 824 789

Flat-rolled 159 121 869 834

Other 36 23 692 657

Total 284 215 828 796

12

Mining: Coal


� Sales of coal products in H1 2012 decreased vs. H1 2011

due to

� lower steam coal volumes mined as a result of longwall

repositionings at both steam coal mines in Q1 2012

� decreased volumes of external raw coal and increased

consumption of own coal in production of coal

concentrate

� A debottlenecking programme at Yuzhkuzbassugol was

launched to stabilise and improve mine production

� Coal mine projects (Yerunakovskaya VIII and Mezhegey

Phase 1) are proceeding as planned

Washed coking coal (concentrate) self-coverage, Kt Cash cost, Russian washed coking coal, $/t

Note. (1) Self-coverage, %= total production (plus 40% of Raspadskaya production on pro rata basis) divided by total steel segment consumption(2) Self-coverage excl. 40% Raspadskaya share: H1 2010 – 54%, H2 2010 – 62%, H1 2011 – 62%, H2 2011 – 49%, H1 2012 – 69%

Coal product sales, Kt

1,9452,506 2,404 1,834 2,656

246

1,451 723 998

831

1,066

4,053

3,642

4,021

3,229

3,850

3,402

3,775

2,665

3,8683,722

H1 2010 H2 2010 H1 2011 H2 2011 H1 2012

90% 80% 88% 71% 96%

Consumption Production excl. closed and

disposed mines

Raspadskayaproduction

Production byclosed and

disposed mines

2,8802,179

1,295

834

4,175*

3,014

H1 2011 H1 2012

External sales

Intersegment sales

* For comparability the number excludes 767 Kt of raw coal purchased by Trading Company

EvrazHolding from market and Raspadskaya for supply to EVRAZ steel mills

7073

98

81

67

79

69

Q1 '11 Q2 '11 Q3 '11 Q4 '11 Q1 '12 Q2 '12 Q3 '12

13

Mining: Iron ore


� In H1 2012 total sales (intersegment and external) of iron ore products were 9.3 mt (-7.6% vs H1 2011) due to decreased use of

external raw iron ore in concentrate production in 2012 and destocking at Sukha Balka in H1 2011

� Cash costs decreased in line with rouble depreciation

� In H1 2012 EVRAZ Russian iron ore operations achieved total $17.5m positive economic effects through operational

improvements

� The project to increase EVRAZ KGOK’s capacity to 55 Mtpa of raw ore is expected to be completed in December 2012

� Feasibility study and project documentation were completed to develop the Sobstvenno-Kachkanarskoye ore deposit at EVRAZ

KGOK and the project is proceeding as planned

� Major reconstruction of Sheregesh mine at Evrazruda was launched to increase production 2.5 times to 4.8 Mtpa by 2016

Iron ore self-coverage*, Kt Cash cost, Russian iron ore products (Fe 58%), $/t

* Self-coverage, %= total production divided by total steel segment consumption

10,6359,981

10,455 10,232 10,389

9,608 10,191 10,355 10,814 10,462

H1 2010 H2 2010 H1 2011 H2 2011 H1 2012

Consumption Production

90% 102% 99% 106% 101%

71

69

70

75

80

73

72

Q1 '11 Q2 '11 Q3 '11 Q4 '11 Q1 '12 Q2 '12 Q3 '12

14

Vanadium


� EVRAZ’s external sales of vanadium products decreased vs.

H1 2011 by 17% to $251m, primarily due to lower prices

� As a result of operational improvements EVRAZ Vanady-Tula

achieved record productivity levels of 40 tonnes of V2O5/day

during H1 2012, a 15% improvement compared to production

rates in 2010

� EVRAZ Stratcor vanadium plant in Arkansas launched use

of EVRAZ’s own vanadium slag, to increase synergy levels

within EVRAZ

Finished Vanadium product sales volumes, t Vanadium product revenues by region, $m

Ferrovanadium prices (FeV), $/kg contained V

Source: LMB

23

117

83

244

Russia & CIS

Europe

Americas

Asia

Africa & RoW

9,624 9,599

H1 2011 H1 2012

30.2

31.1

30.9

30.4

30.0

29.5

28.9

28.6

28.127.5

25.7

24.2

23.0

25.3

26.0

25.6

26.1

25.624.5

23.7

24.6

24.3

Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12

15

Key Investment Projects


Iron ore & coal

CAPEX in H2 2012,

$m Project Targets

Steel

Coal & iron ore

Total CAPEX$m

CAPEX in H1 2012

$m Project TargetsProject

Cumulative CAPEX by 30.06. 2012

$m Project targets

Construction of Yuzhny and Kostanayrolling mills

o Capacity: 450 ktpa of construction products each mill

o On-stream by mid-2013

Reconstruction of rail mill at EVRAZ ZSMK

(former NKMK)

o Capacity of 950k tonnes of high-speed rails, including 450k tonnes of 100 metre rails

o On-stream in Q4 2012, fully operational since Q2 2013

Reconstruction of rail mill at EVRAZ NTMK

o Production of higher-quality rails

o 550k tonnes capacity

o On-stream in Q2 2012, fully operational since Q2 2013

Pulverised coal injection (PCI) at EVRAZ NTMK and EVRAZ ZSMK

o 20% lower coke consumption

o Save annually up to 650 mcm of natural gas at NTMK and up to 600 mcm at ZSMK

o On-stream by Q4 2012 and Q1 2013, fully operational since Q1 2013 and Q2 2013 respectively

Reconstruction of mechanical area at EVRAZ NTMK wheel & tyre mill

o Production of higher-quality wheels

o Start production in Q1 2013; full capacity in Q2 2013

260 93 34

490 366 84

60 60 4

320 218 55

40 25 3

Yerunakovskava VIII mine constructiono Coal production of 2 mtpa

o Start in Q1 2013, full capacity to be reached in Q1 2014390 81 47

Development of Mezhegey coal deposit (Tyva, Russia)

o Maintaining self-sufficiency in high-quality hard coking coal after depletion of existing deposits

o On-stream Q4 2013, reaching full capacity by Q4 2014190 23 18

Expansion of Kachkanar mineo Iron ore production to be increased to 55 mtpa

o On-stream by end 201276 60 13

In progress Under considerationFinal stage of completion

150

25

14

113

0

79

8

60

16

Capex dynamics


1,103

441

832

1,281

565

-

200

400

600

800

1,000

1,200

1,400

2008 2009 2010 2011 H1 2012

Maintenance, Steel and other operations Iron ore mine development Coal mine development * Investment projects

* Investment into maintaining and developing mining volumes, such as preparation of coal seams

H2 2012 capexexpected in the range of $650-750m

$m

17

Recent market developments


� Full utilisation of Russian steel making capacities continues

� Utilisation of non-Russian steelmaking capacities in

October:

◦ EVRAZ North America: 90%

◦ EVRAZ Highveld: 60%

◦ EVRAZ Vitkovice Steel: temporarily closed due to low demand and the company's plan to reduce its inventory

� Low inventories across EVRAZ operations

� EVRAZ order book (external sales) currently stands at

approx. US$140 mln, representing 1.2 months production*

� Construction product prices were flat in July-September due

to seasonal improvement in the Russian construction market

and are expected to decrease in Q4 2012 due to slowdown

in the construction activity

� In Q3 2012 export prices of semi-finished products

decreased vs. Q2 2012

� Ferrovanadium prices in Q3 2012 are at the level of 24.3

$/kg of contained Vanadium vs. 24.6 $/kg in September

Raw material prices (domestic markets), $/t

EVRAZ selling prices, $/t

0

50

100

150

200

250

300

350

400

450


Scrap, Russia, CPT Scrap, USA, CPT

Iron ore concentrate, Russia, ExW Coking coal concentrate, Russia, FCA

* The calculation is based on contract prices and November & December volumes

400

500

600

700

800

900

1,000

1,100

1,200


Slabs, Russia, export* Billets, Russia, export*

Rebars, Russia, FCA Plate, North America, FCA

18

Acquisition of Raspadskaya


� EVRAZ has agreed to increase its indirect stake in Raspadskaya from 41% to 82%, purchasing a further 50% interest in Corber Enterprises Limited

� Remaining 18% of Raspadskaya shares will remain listed on the Russian Stock Exchange, MICEX-RTS

� The completion of the deal is expected to occur in Q4 2012 subject to customary regulatory approvals and other conditions

Calculation of net leverage

Company Net debt as of 30 June 2012

LTM EBITDA Net leverage ratio

EVRAZ 6,070 2,447 2.48

Corber 330 235 1.40

Combinedentity

6,400 2,682 2.39

Raspadskaya assets

Facilities � Three underground coking coal mines

� Open-pit coking coal mine� Raspadskaya coal concentrate

preparation plant

Coking coal reserves (IMC, 31/12/2011)

1, 314 million tonnes

Production in 2011

6.3 mt of raw coking coal3.8 mt of coking coal concentrate

19

Outlook


� Global markets remain volatile resulting in ongoing uncertainty and low visibility in EVRAZ’s key

markets

� Capacity utilisation remains high, finished goods inventories at our mills and sales network are

low

� In Q4 2012 we expect to be subject to usual seasonal trends, including slowdown in the

construction activity in Russia

� Capex in H2 2012 is expected at $650-750m but we retain flexibility

� EVRAZ continues to expect its net leverage ratio to increase at the end of 2012 versus 30 June

2012 (but within the limits set by our covenants)

Appendix

21

HSE performance


0.81

0.94

H1 2011 H1 2012

1.852.02

H1 2011 H1 2012

� Increase in LTIFR and FIFR vs. H1 2011

� Safety remains a key priority

� Key ongoing safety initiatives:

� Contractor safety management

� Fall prevention (follow 6S project)

� PPE (Personal Protective Equipment)

� Improvement in workplace conditions

� Tests for drugs and alcoholic intoxication

� Internal safety training

� Key ongoing environmental initiatives:

� Water use: Wastewater dumping reduction programme(ZSMK, NTMK, Yuzhkuzbassugol, Evrazruda, DMZP);

� Air emissions: Air protection equipment upgrade (ZSMK, DMZ, Claymont);

� Waste management: Waste recycling and reuse programmes (ZSMK,NTMK, Vanady Tula)

Lost Time Injury Frequency Rate (LTIFR)*

Fatal Injury Frequency Rate (FIFR)*

* Calculated as the total number of work-related injuries (which resulted in the loss of work time) – LTIFR or fatalities – FIFR/total number of working hours during the period x 1,000,000

22

Revenue: geographic breakdown


Russia40%

Ukraine4%

Other CIS3%

Americas22%

Europe13%

Middle East3%

China1%

Thailand4%

Other Asian7%

Africa & RoW3%

H1 2011

Russia41%

Ukraine3%

Other CIS4%

Americas24%

Europe10%

Middle East2%

China1%

Thailand3%

Other Asian9%

Africa & RoW3%

H1 2012

23

Steel products: sales by market


3,331

431

858

1,4411,586

300

3,324

406

632

1,345

1,732

275

Russia CIS Europe Americas Asia Africa & RoW

H1 2011 H1 2012

Kt

2,661

359

758

1,652

1,015

257

2,604

336492

1,582

1,068

214

Russia CIS Europe Americas Asia Africa &RoW

$m

3,331

431

858

1,4411,586

300

3,324

406

632

1,345

1,732

275

Russia CIS Europe Americas Asia Africa & RoW

H1 2011 H1 2012

Kt

24

Resilient and profitable asset base


EBITDA, EVRAZ North America, $m

EBITDA, EVRAZ South Africa, $m

EBITDA, EVRAZ Russia, $m

EBITDA, EVRAZ Europe, $m

Note. (1) Consolidated EVRAZ plc EBITDA also includes Unallocated EBITDA of $(109)m in H1 2011 and $(89)m in H1 2012 (2) EVRAZ North America includes EVRAZ Inc. NA, EVRAZ Inc. NA Canada, Stratcor; EVRAZ Ukraine includes EVRAZ DMZP, Sukha Balka and coking plants; EVRAZ Europe includes EVRAZ

Palini e Bertoli, EVRAZ Vitkovice Steel, Nikom and attributable trading margin

265

216

H1 2011 H1 2012

81

(3)

H1 2011 H1 2012

29

(6)

H1 2011 H1 2012

EBITDA, EVRAZ Ukraine, $m

1,276

1,051

H1 2011 H1 2012

87

6

H1 2011 H1 2012

25

Cost structure by segment


Cost structure of Mining segment, $mCost structure of Steel segment, $m

Cost structure of Vanadium segment, $m

21% 19%

17%15%

17%

16%

7%

5%

6%

4%

4%

4%

8%

9%

3%

4%

8%

9%

9%

15%

6,237

5,749

H1 2011 H1 2012

Other

Energy

Depreciation

Staff

Transportation

Semi-finished products

Other raw materials

Scrap

Coking coal

Iron ore 12% 7%

13%10%

24% 23%

15% 30%

13%

11% 23%

19%

1,0921,177

H1 2011 H1 2012

Other

Energy

Depreciation

Staff costs

Transportation

Raw materials

35%28%

6%12%

13%

5%

5%

12%

13%

30%

41%

304

242

H1 2011 H1 2012

Other

Energy

Depreciation

Staff costs

Transportation

Raw materials

26

EBITDA


US$ million

2012 2011

Consolidated EBITDA reconciliation

Profit from operations 430 859

Add:

Depreciation, depletion and amortisation 668 501

Impairment of assets 80 32

Loss on disposal of property, plant & equipment 25 17

Foreign exchange (gain) loss (28) 220

Consolidated EBITDA 1,175 1,629

Six months ended 30 June

27

Net profit reconciliation


62

(50)

12

-60

-50

-40

-30

-20

-10

0

10

20

Reported Net loss Special item: impairment due to reduced pricing outlook Net profit w/o special items

$m

28

Net debt


US$ million

30 June 2012 31 December 2011

Net debt calculation

Add:

Long-term loans, net of current portion 6,271 6,593

Short-term loans and current portion of long-term loans 1,531 613

Finance lease liabilities, including current portion 31 39

Less:

Short-term bank deposit 0 (2)

Cash and cash equivalents (1,763) (801)

Net debt 6,070 6,442

29

Quarterly steel products output by assets


915 1,030 1,050 949 1,122

1,0891,093 1,069

1,0371,127

396 361 445366

27710297 104

8474

137143 150

138120

0

500

1,000

1,500

2,000

2,500

3,000

3,500

Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012

Semi-finished products Construction products Railway products Flat-rolled products Other steel

81 74 83 79 78

121 124 117 134 115

236 246 261 254 252

238 194 206 211 219

0

100

200

300

400

500

600

700

800

Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012

Construction products Railway products Flat-rolled products Tubular products

32 33 17 26

216236 269

243 207

2215 8

234

0

50

100

150

200

250

300

350

Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012

Construction products Flat-rolled products Other steel products

16 7 12 3

32 4656

4127

5569

70

66

35

8

15

10

14

4

0

20

40

60

80

100

120

140

160

Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012

Semi-finished products Construction products Flat-rolled products Other steel

Russia, Kt North America, Kt

Europe, Kt South Africa, Kt

30

Acquisition of Raspadskaya: Terms and conditions

� EVRAZ will

� issue 132.7 million new shares (9.9% of the existing issued share capital of EVRAZ)

� issue 33.9 million new warrants (2.53% of the existing issued share capital of EVRAZ), and

� pay an amount, in cash, of $1,949.80 for each of 103,600 ordinary Corber shares, payable in four equal instalments in Q1, Q2, Q3 2013 and Q1 2014

� The warrant exercise period will be at any time between 12 months and 15 months after completion of the acquisition. Upon exercise of the Warrants, it is expected that the Sellers would own 11.06% of EVRAZ.


31

Disclaimer


This document does not constitute or form part of and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or acquire securities of EVRAZ plc (“EVRAZ”) or any of its subsidiaries in any jurisdiction (including, without limitation, EVRAZ Group S.A.) (collectively, the “Group”) or an inducement to enter into investment activity. No part of this document, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. None of EVRAZ, the Group or any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with the document.

This document contains “forward-looking statements”, which include all statements other than statements of historical facts, including, without limitation, any statements preceded by, followed by or that include the words “targets”, “believes”, “expects”, “aims”, “intends”, “will”, “may”, “anticipates”, “would”, “could” or similar expressions or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Group’s control that could cause the actual results, performance or achievements of the Group to be materially different from future results, performance or achievements expressed or implied by such forward-looking, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of 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 the Group’s shares or GDRs, financial risk management and the impact of general business and global economic conditions.

Such forward-looking statements are based on numerous assumptions regarding the Group’s present and future business strategies and the environment in which the Group will operate in the future. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These forward-looking statements speak only as at the date as of which they are made, and each of EVRAZand the Group expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in EVRAZ’s or the Group’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.

Neither the Group, nor any of its agents, employees or advisors intends or has any duty or obligation to supplement, amend, update or revise any of the forward-looking statements contained in this document.

The information contained in this document is provided as at the date of this document and is subject to change without notice.

London +44 207 832 8990

Moscow +7 495 232 1370

[email protected]

www.evraz.com

Презентация для инвесторов, ноябрь - декабрь 2012

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