This corporate presentation provides an overview of EVRAZ plc, a vertically integrated steel and mining company. It discusses EVRAZ's operations, competitive advantages, growth opportunities, and recent financial performance. Key points include: - EVRAZ is a top 15 global steel producer with low-cost operations due to vertical integration and exposure to growing construction/infrastructure markets. - In 2010 EVRAZ produced 16.3MT of crude steel and sold 15.5MT of products, with revenue of $13.4B and EBITDA of $2.4B. - EVRAZ enjoys a low-cost position due to high self-sufficiency in raw materials. Recent capacity expansion

1. Corporate Presentation
November-December 2011

2. 1
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 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 EVRAZ’s control that could cause the actual results, performance or achievements of EVRAZ 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 EVRAZ’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 EVRAZ 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 expectations with regard thereto or any change in events, conditions
or circumstances on which any such statements are based.
Neither EVRAZ, 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.

3. 2
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 products markets
◦ A lead player in the European and North American plate and large diameter pipe
markets
◦ One of the world’s lowest cost steel producers due to production efficiency and high
level of vertical integration
◦ One of the leading producers in the global vanadium market
◦ In 2010, EVRAZ produced 16.3 million tonnes of crude steel and sold 15.5 million
tonnes of steel rolled products
◦ 2010 consolidated revenue amounted to US$13.4 billion; EBITDA was US$2.4 billion
◦ GDRs listed on London Stock Exchange since June 2005, shares listed in the
Premium segment of the LSE since 7 November 2011

4. 3
Investment Highlights
◦ #15 steel producer by volume globally and #1 in Russia
◦ Low cost operations driven by vertically integrated business model
◦ Exposure to growing construction and infrastructure markets globally
◦ Strong position in growing Russian market
◦ Successful track record of strategic acquisitions
◦ Multiple opportunities to drive growth
◦ Focus on HSE

5. 4
Global Operating Model
240 Russia/CIS
402
6,420
2,607
1,054
Europe
400 590
4,208
North America
110 Asia
410
2010 Steel Sales Volume South America Africa 2010 Steel Sales Volume
by Geography 110 by Product
Africa Other
Europe Tubular 4%
3%
6% Construction
9% Russia &
CIS Steel Mills Railway 32%
North 12%
42% Iron Ore Mining
America
Coal Mining Flat-
17%
Vanadium rolled
17% Semi-
Sea Ports
Asia finished
29% Mezhegey Coal Mill in Development 29%
# Third Party Steel Products Sales (Kt), 2010 # Internal Supply of Slabs and Billets from Russian Steel Mills (Kt)

6. 5
Cost Leadership
◦ Increased costs in 1H 2011 reflected mostly growth in Cash Cost*, Slabs & Billets
US$/t
raw materials prices 500 441 459 437 479 446
411
◦ High level of vertical integration into iron ore and coking
400 354 364 350
378
438
coal helped to partially mitigate negative impact of 317
298 395 401
escalating prices 300 349
371 355
246 256
265 356 369
333
294
◦ Approx. 60% of consolidated operating costs are rouble 200
271 280
denominated 200 216
179
100
◦ EVRAZ enjoys a position on the global cost curve well 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11
within the first quartile Slab Billet
*Average for Russian steel mills, integrated cash cost of production, EXW
Consolidated Cost of Revenues by Cost Elements Sep’11 Average Steel Slab Cash Cost by Region (EXW)
Cash Cost ($/metric tonne)
1H 2011, % 1H 2010, % 720
World Average: 597
of total CoR of total CoR
600
Raw materials, including 39% 37%
Iron ore 7% 6% 480
Coking coal 12% 11% 360
Scrap 14% 13%
240
Other raw materials 6% 7%
Semi-finished products 7% 4% 120
Transportation 5% 6% 0
W. Europe (3)
Staff costs 12% 12%
S.America
Africa
Australia
Asia
Brazil
USA
India
China
South Korea
Mid. East
Mexico
Japan
Canada
E. Europe
Russia &
Depreciation 7% 8% CIS
Electricity 5% 5%
Natural gas 4% 4%
Other costs 21% 24% Cumulative Capacity
Source: World Steel Dynamics

7. 6
Exposure to Growth in Construction and
Infrastructure
Construction Steel Consumption in Russia ◦ EVRAZ is the leading producer of long products in
MMt Russia
15 ◦ Market share of 86% in H-beams, 66% in
channels, 89% in rails and 36% in wheels as of
10 7.9
8.6 H1 2011
6.2 ◦ Russian construction steel demand expected to reach
5 pre-crisis levels in 2012
◦ Expected robust growth in the railway steel market
0 ◦ We expect construction steel demand to reach
2009 2010 2011(f)
approximately 11 MMt in 2015
Consumption of Construction Steel in Russia
◦ Over US$30 bn of capital investments by the Russian
Russian Government Capital Investments Government planned for 2011
US$ bn ◦ Key programs include construction related to the Sochi
40 (1) 2014 Winter Olympics, infrastructure development for
32
the APEC 2012 summit in Vladivostok, Skolkovo
26
innovation centre
20
13 ◦ Russia committed to invest over $US50 bn in
preparation for the 2018 FIFA World Cup (estimated
steel requirement of 2.0-2.5 MMt)
0 ◦ Russian Railways approved investment programme for
2009 2010 2011(f) 2011-2013 of $US18.4 bn
Source: Russian Government, press
(1) RUB 895 bn

8. 7
Move to Premium Listing
EVRAZ’s redomiciliation to the UK from Luxembourg and a premium share listing and admission to trading on the
Main Market of the LSE since 7 November 2011
◦ Transaction effected by way of a Share Exchange Offering (the “SEO”) by EVRAZ plc (UK entity) for the shares,
including the shares represented by GDRs, of Evraz Group S.A. (Luxembourg entity) with 9 new shares for each
Existing Share tendered and 3 new shares for each Existing GDR tendered (1)
◦ Existing GDR listing and trading will be cancelled following termination on 8 February 2011 of the deposit
agreement with The Bank of New York Mellon
◦ No change to the Company’s business operations, assets or strategy as a result of the SEO
◦ Expected benefits of the premium listing :
◦ Broader shareholder base
◦ Improvement in long-term access to capital
◦ Improved liquidity
◦ Expected FTSE 100 inclusion and the only steel stock in UK FTSE All-Share index (following FTSE Committee Quarterly
Review on 7 December 2011)
◦ Committed to high standards of corporate governance
(1) Three GDRs represents one Existing Share

9. 8
3Q 2011 Production Volumes
Steel Products(1) Semi-
Semi-Finished Products Construction Products
kt kt kt
805 1,299 1,351
3,780 3,670 780 767 1,229
3,537
3Q 2010 2Q 2011 3Q 2011 3Q 2010 2Q 2011 3Q 2011
Flat Rolled Products Railway Products
kt kt
730 448 550 517
646 609
3Q 2010 2Q 2011 3Q 2011 3Q 2010 2Q 2011 3Q 2011 3Q 2010 2Q 2011 3Q 2011
Semi-Finished Railway Other
Construction Flat Rolled Products
Iron Ore Coal Vanadium
kt kt kt
5,396 5,435 10,490 10,108
4,981 3,032 3,197
8,696
2,611
3Q 2010 2Q 2011 3Q 2011 3Q 2010 2Q 2011 3Q 2011 3Q 2010 2Q 2011 3Q 2011
Coking Coal (2)
Vanadium in Slag
Steam Coal Raspadskaya Vanadium in Final Products
(1) Net of re-rolled volumes
(2) Calculated as 40% of total Raspadskaya production

10. 9
Trading Update for 3Q and 9M 2011
9M 2011/
(US$ million) 3Q 2011 9M 2011 9M 2010 9M 2010,
change, %
Revenue 4,157 12,537 9,729 28.9%
EBITDA 772 2,401 1,766 36.0%
Interest expense 164 551 547 0.7%
CAPEX 483 945 584 61.8%
Steel product sales * 3,390 10,094 7,862 28.4%
Iron ore product sales * 134 488 230 112.2%
Coal product sales * 102 308 263 17.1%
Vanadium product sales * 160 462 393 17.6%
Other revenues * 371 1,185 981 20.8%
As of 30 Sep As of 31 Dec Change, %
2011 2010
Total debt 7,214 7,811 -7.6%
Cash and cash equivalents 578 683 -15.4%
* External sales

11. 10
Recent Market Developments Update
EVRAZ Selling Prices
◦ We are observing resilient demand across major US$/t
product groups in our markets 1,200
◦ Current steelmaking capacity utilisation: 1,000
◦ Russia – 100% 800
◦ Ukraine – 70% 600
◦ Czech Republic – 70% 400
Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11
◦ North America –100% Rebars, Russia, FCA Billets, Russia, export (1)
Slabs, Russia, export (1) Plate, North America, FCA
◦ South Africa – 100%
(1)
Weighted average contract prices
◦ We continue to enjoy vertical integration model Source: Company data
advantages which mitigate the effects of raw
materials prices volatility Raw Material Prices (Domestic Markets)
US$/t
◦ Global steel inventories significantly below mid-2008 500
levels decreasing to 2.5 months in August, a level 400
slightly below the 5-year average
300
◦ EVRAZ order book (external sales) currently stands at 200
approx. US$300 mln representing 2.5 months’ 100
production
0
Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11
Scrap, Russia, CPT Coking coal concentrate, Russia, FCA
Iron ore concentrate, Russia, ExW Scrap, USA, CPT
Source: Metall Expert

12. 11
Growth Projects
Projects in Final Stage of Completion
◦ Rail mill modernisation enabling production of high value-added products
◦ PCI installation at Russian steel mills
Projects in Progress
◦ Construction of Yerunakovskaya VIII mine, 2 mtpa of coking coal
◦ Exploration of Sobstvenno-Kachkanarskoye iron ore deposit to increase KGOK production to 55 mtpa
◦ Construction of Yuzhny and Kostanay rolling mills in regions where demand is growing (South Russia and
Kazakhstan): total 900,000 tpa of construction products
Projects under Consideration
◦ Mezhegey coking coal deposit development
◦ Joint venture with Alrosa to develop Timir iron ore deposit in Yakutia
◦ Construction of 2nd converter shop at EVRAZ NTMK: steel capacity increase of 1-1.5 mtpa

13. 12
CAPEX Dynamics
◦ Return to investment in modernisation projects and mine development in 2010
◦ FY 2011 budgeted CAPEX of US$1.2 billion
◦ CAPEX over the next several years expected at the level of 2011
US$ mln
1,200 1,103
1,000
832
800
600 462
441
400
200
-
2008 2009 2010 1H 2011
Maintenance, Steel and other operations Coal mine development **
2011 Budget
Iron ore mine development Investment projects* CAPEX
* In 2010 includes US$70 million acquisition of Mezhegey and Mezhegey East licences
** Investment into maintaining and developing mining volumes, such as preparation of coal seams

14. 13
Update on Key Investment Projects
Cum CAPEX by 30.06.
Cum CAPEX by 30.06.
Total CAPEX
Total CAPEX 2011
2011 2011 Planned CAPEX
2011 Planned CAPEX
Project
Project $US mln
$US mln $US mln
$US mln $US mln (1)
$US mln (1) Project Targets
Project Targets
Iron ore & coal
Iron ore & coal
Iron ore production to be increased to 55 mtpa
Capacity of 950k tonnes of high-speed rails, including 450k
Expansion of Kachkanar Mine 80 19 54 On-stream100 metre rails
tonnes of by 2012
On-stream by 2013
Development of Mezhegey and Eastern Field Coal Maintainingof higher-quality in high-quality hard coking coal
Production self-sufficiency rails
Deposits (Tyva, Russia) TBD 71 (2) 16 after depletion of existing deposits
550k tonnes capacity
On-stream by 2015 and 2021 respectively
On-stream by 2012
Coal production of 2 mtpa
Yerunakovskava Mine Construction 590 4 52
On-stream by mid-2013
Steel
Capacity of 950k tonnes of high-speed rails, including 450k
Reconstruction of Rail Mill at United ZSMK
485 259 146 tonnes of 100 metre rails
(Former NKMK)
On-stream by 2013
Production of higher-quality rails
Reconstruction of Rail Mill at NTMK 60 46 14 550k tonnes capacity
On-stream by 2012
20% lower coke consumption
Pulverised Coal Injection (PCI) Save annually up to 650 mcm of natural gas at NTMK and up
320 88 182
at NTMK and ZSMK to 600 mcm at ZSMK
On-stream by end-2012
Reconstruction of Mechanical Area at Production of higher-quality wheels
40 21 19
NTMK Wheel & Tyre Mill On-stream by 2011
Construction of Yuzhny and Kostanay Capacity: 450 ktpa of construction products each mill
260 12 73
Rolling Mills On-stream by mid-2013
(1) Total 2011 planned capex is ca. $US1.2 bn
(2) Acquisition of Mezhegey and Mezhegey East licences

15. 14
Outlook
Global economy and the steel industry continue to face challenges and remain very volatile
EVRAZ retains a strong order book and high capacity utilisation
Inventories at traders and at our mills and ports are very low
4Q 2011 trading is being impacted by the seasonal change in the product mix in favour of lower-margin
semi-finished products and slightly lower prices for main product groups due to volatile global economic
environment
EVRAZ continuously assesses the market environment and has significant flexibility in CAPEX plans
4Q 2011 EBITDA is expected to be in the range of US$500-600 million

16. 15
Summary
Strong 1H 2011 results reflecting the recovery of steel and raw material markets
Obtaining benefits from enhanced raw material prices due to the Group’s high level of vertical
integration
Improved liquidity position and reduced debt level following continuous refinancing in 1H2011
Renewed investment into enhancing the mining base, production modernisation and product quality will
enable to achieve positive results in 2012 and beyond
No significant deterioration of the market at the moment
The premium share listing in London and potential FTSE 100 inclusion to improve liquidity and
shareholder base
Company now on sound footing to achieve further growth and is well prepared to efficiently operate
even in the prolonged period of market uncertainty

17. 1H 2011 Operating and Financial Results Overview

18. 17
1H 2011 Summary
US$ mln unless otherwise stated 1H 2011 1H 2010 Change
Revenue 8,380 6,379 31%
31%
Gross profit 2,197 1,460 50%
50%
Consolidated adjusted EBITDA* 1,629 1,154 41%
41%
Adjusted EBITDA margin 19.4% 18.1%
Net Profit** 263 176 49%
49%
EPS (US$ per GDR) 0.62 0.42 48%
48%
Interim Dividend (US$ per GDR) 0.2 0
Steel sales volumes*** (’000 tonnes) 7,946 7,714 3%
As of As of
30 June 2011 31 Dec 2010 Change
Net Debt 6,042 7,127 (15)%
Short-term Debt 604 714 (15)%
* Consolidated adjusted EBITDA represents profit from operations plus depreciation and amortisation, impairment of assets, foreign exchange loss (gain) and loss (gain) on disposal of
PP&E. See appendix on p.30 for reconciliation of profit (loss) from operations to Adjusted EBITDA
** Net profit in 1H 2011 was negatively affected by one-off items. Without one-off losses of US$231 million relating to the conversion and early repurchase of debts the 1H 2011 net profit
would have been US$494 million
*** Here and throughout the presentation steel sales volumes to external customers only if not stated otherwise

19. 18
1H 2011 Financial Highlights
◦ Significant growth in revenues and EBITDA in 1H 2011 vs. 1H 2010 as a result of market recovery
◦ Revenue growth was driven primarily by prices increases as EVRAZ operated at high capacity utilisation levels in 1H
2011
◦ EVRAZ benefits from high level of vertical integration
◦ Major share of revenues coming from Steel segment, while more than half of EBITDA generated in Mining segment
Consolidated Revenue by Segment Consolidated Adjusted EBITDA
US$ mln
US$ mln
12,000 1,629
8,380
482
1,800 83
10,000
1,154
6,379 320 2,040 1,500
8,000 62
414
290 1,200 55 962
1,120
6,000 390
900
4,000 7,492 600
5,796
803 744
2,000 300
0 0 (156) (3)
(1,241) (157)
(1,954)
-2,000
-300
1H 2010 1H 2011 1H 2010 1H 2011
Steel Mining Vanadium Other operations Eliminations Steel Mining Vanadium Other operations Unallocated & Eliminations

20. 19
FCF Generation
◦ Substantial free cash flow generation in 1H 2011
◦ Release of working capital in spite of higher level of activity and higher prices
◦ Major uses of FCF in 1H2011 were: US$402 million increase in cash, US$275 million net repayment of loan
principals, US$51 million purchase of non-controlling interests (Evraztrans)
US$ mln
2000
134
1800 41 1,670
1,629 1,594
1600
(210)
1400
1200
(386)
1000
5 751
800
600 (462)
400
200
0
EBITDA 1H Non-cash EBITDA (excl. Changes in Income tax CF from Interest paid Capex CF from Free cash
2011 items non-cash working paid operating and costs of investing flow*
items) capital, excl activities early activities
income tax repurchase of (excl. capex)
debts
*Free cash flow comprises cash flows from operating activities less interest paid, costs of early repurchase of debts and cash flows from
investing activities

21. 20
Dividend Policy
◦ On 10 October 2011 the EVRAZ Board approved a new dividend policy and the payment of interim and special
dividends for 1H 2011
◦ First dividend payment since 2008
◦ The Company believes that the new policy and dividend payment creates a balanced approach towards return on
shareholder equity whilst retaining sufficient capital for the Group’s investment growth
Revised Dividend ◦ Under the revised dividend policy EVRAZ will target to maintain a long-term average
Policy dividend payout ratio of at least 25 % of the consolidated net profit calculated in
accordance with IFRS and adjusted for non-recurring items, for the relevant period.
Dividends are expected to be paid semi-annually
◦ In addition to the regular dividend payments the Company may also employ special
dividends from time to time at the discretion of the EVRAZ Board to return surplus capital
to shareholders
Key Parameters of ◦ Interim dividend: US$0.2 per GDR
Dividend
Announcement ◦ Special dividend: US$0.9 per GDR
◦ Record date: 28 October 2011
◦ Paid in November 2011

22. 21
Liquidity and Debt Maturity Profile
◦ Refinancing steps significantly strengthened the Group’s liquidity profile:
◦ In April 2011, EVRAZ issued US$850m bonds due 2018 at 6.75%, the lowest ever coupon for EVRAZ Eurobond
issues
◦ Part of the proceeds from the issue was used to purchase approx. US$622m in aggregate principal amount of
the outstanding bonds due 2013
◦ In June 2011, Evraz issued a 20 billion 5-year rouble bond (approx. US$715m) at 8.40%, and incentivised
conversion of US$648 million in principal amount of convertible bonds due 2014
◦ In October 2011, the 5-year US$500 million unsecured credit facility with Gazprombank was used to prepay the
existing US$300 million secured loan
◦ EVRAZ’s total debt was US$7.2 billion as of 30 June 2011, including US$4.9 billion of public debt and US$2.3
billion of bank loans
◦ EVRAZ had unutilised credit facilities of approx. US$1.4 billion, incl. US$788 million of committed facilities, as of 30
June 2011, compared with US$923 million and US$430 million respectively as of 30 June 2010.
◦ Targeting net debt/EBITDA ratio below 2.5x
Debt* Maturities Schedule (as of 30 June 2011)
US$ mln
2000
1500
1000
500
0
2011 2012 2013 2014 2015 2016 2017 2018 2019-2022
Public debt Bank loans
* Principal debt (excl. interest payments)

23. 22
Improved Business Fundamentals
◦ EBITDA and EBITDA margin progression 31 December 30 June
◦ Focus on financial management 2009 2011
◦ Reduction of total debt level Net Debt US$7,230m US$6,042m
◦ Significant improvement of leverage Leverage (Net Debt/LTM
5.8x 2.1x
◦ Successful refinancing of short-term debt using debt EBITDA)
instruments with longer term maturities Average Maturity 3.4 years 3.8 years
◦ EVRAZ credit ratings upgraded: S&P to B+, Stable;
Moody’s to B1, Positive; Fitch to BB-, Stable Short-term Debt US$1,992m US$604m
EBITDA and EBITDA Margin Performance
US$ MM %
2,000 18% 17% 19% 20%
15%
1,500 15%
10%
1,000 10%
1,629
500 1,154 1,196 5%
769
468
0 0%
1H2009 2H2009 1H2010 2H2010 1H2011
EBITDA EBITDA Margin (RHS)

24. 23
2008-
2011 vs 2008-2009
End 2008-beginning 2009 30 September 2011
Very few forward sales on export contracts Export contracts are sold 2.5 months in advance
No new orders Normal flow of orders
Up to 5 months of stocks at traders Low stocks
Risk of non-payments No sales on credit – risk of bad debts is minimal
Some production is inefficient Inefficient production lines are closed
Low capacities utilisation Nearly 100% capacities utilisation
Short-term debt of almost US$4 billion Short-term debt of US$604 million as of 30 June 2011
(US$300 million to be paid till 2011 year-end as of 30
September 2011)
USD/RUB Exchange Rates
40.00
35.00
30.00
25.00
20.00
15.00
10.00
Jul
Jul
Jul
Jul
Jan
Feb
Jun
Jan
Feb
Jun
Jan
Feb
Jun
Oct
Oct
Oct
Mar
Mar
Mar
Nov
Dec
May
Nov
Dec
May
Nov
Dec
May
Sep
Sep
Sep
Sep
Aug
Aug
Aug
Aug
Apr
Apr
Apr
2008 2009 2010 2011

25. 24
Steel: CIS
Steel Product Sales, Domestic vs. Export
◦ Full utilisation of Russian and Ukrainian steelmaking
‘000 tonnes
capacities maintained in 2011
5,541
◦ In 1H 2011 domestic steel sales accounted for 68% of 6,000
5,532
EVRAZ’s Russian and Ukrainian mills’ steel sales 5,000
32%
47%
compared to 53% in 1H 2010, reflecting improving 4,000
demand in the CIS market and the shift to sales of higher 3,000
margin products 2,000 68%
53%
◦ High market share in domestic sales through own 1,000
distribution network 0
1H 2010 1H 2011
◦ Prices of key products strengthened in response to
demand recovery and growth in raw material prices Domestic Export
Steel Product Sales Volumes Steel Product Revenues
‘000 tonnes
Revenue, Revenue per tonne,
5,541 Products
5,532 US$m US$
6,000
387 512
5,000 785 1H 2010 1H 2011 1H 2010 1H 2011
813
4,000
2,100 Semi-finished 1,112 1,159 492 630
3,000 2,378
2,000 Construction 1,275 1,833 607 771
1,000 2,260 1,838 Railway 541 734 689 903
0
Other steel 247 422 638 824
1H 2010 1H 2011
Total 3,175 4,148 574 749
Semi-finished Construction Railway Other

26. 25
Steel: North America
◦ Gradual recovery in demand
◦ Sales volumes of steel products increased by 4% in 1H 2011 vs. 1H 2010
◦ Flat-rolled steel volumes increased by 11%; railway products by 34%
◦ Average prices of all product categories increased with the largest increase in flat-rolled products (+US$266/t)
◦ Pricing of steel products generally follows scrap price trends
Steel Product Sales Volumes Steel Product Revenues
‘000 tonnes
1,276 1,321 Revenue, Revenue per tonne,
1,400 Products
US$m US$
1,200
403
436 1H 2010 1H 2011 1H 2010 1H 2011
1,000
800 Construction
511
154 153 782 927
600 462 and other
400 Railway 172 249 950 1,029
181 242
200 Flat-rolled 400 866
197 165
578 1,131
0
1H 2010 1H 2011 Tubular 601 589 1,378 1,461
1,461
Construction & other steel Railway Flat-rolled Tubular
Total 1,327 1,569 1,040 1,188
1,188

27. 26
Steel: Europe, South Africa
Steel Product Sales Volumes,
◦ EVRAZ’s European mills sales volumes increased by European Operations
‘000 tonnes
23% in 1H 2011 vs. 1H 2010
800 740
◦ European flat-rolled product sales volumes increased 700 603 109
by 23%, which largely reflected the increased 600
92
500
demand picture in the European market 400
631
◦ Sales of EVRAZ Highveld’s steel products were 300
200
511
effectively flat as domestic demand in the South 100
0
African market remained weak
1H 2010 1H 2011
Flat-rolled Other
Steel Product Revenues Steel Product Sales Volumes,
South African Operations
Revenue, Revenue per tonne, ‘000 tonnes
Products
US$m US$
1H 2010 1H 2011 1H 2010 1H 2011 400 343
350 302
European Operations 52
300 10
Flat-rolled 345 598 675 948 250
Other 74 104 804 954 200 195 183
Total 419 702 695 949 150
100
South African Operations 50 97 108
Construction 70 89 721 824 -
Flat-rolled 138 159 708 869 1H 2010 1H 2011
Other 7 36 700 692
Construction Flat-rolled Other
Total 215 284 712 828

28. 27
Mining: Integrated Portfolio of Iron Ore and
Coking Coal
◦ As of 1H 2011 EVRAZ was 99% self-sufficient in iron ore and Cash Cost, Russian Iron Ore Products and Coal
62% in coking coal (88% including 40% share of production US$/t
100
from Raspadskaya)
90
◦ Cash cost of washed coking coal went up in 3Q 2011 due to 80
drop in production volumes and increased repair costs 70
60
◦ EVRAZ’s strategy is to expand its mining division increasing 50
self-sufficiency 40
30
◦ The company is developing a number of projects including 20
the Mezhegey and Yerunakovsky VIII coal deposits and the 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11
Kachkanar iron ore deposit
Iron ore products (Fe 58%) Washed coking coal (concentrate)
Iron Ore Self-Coverage (1), 2009-H1 2011
Self- 2009- Washed Coking Coal (Concentrate) Self-Coverage (2)
Self-
‘000 tonnes ‘000 tonnes
99% 96% 90% 102% 99% 137% 125% 90% 80% 88%
6,000
5,288
12,000 10,397 10,635 10,455 4,795
9,955
9,608 9,981 10,191 10,355 4,218 4,053
8,859 8,809 4,021 3,850
3,501 3,642
3,229 3,402
8,000
3,000
4,000 3,499 3,299
2,191 2,506 2,404
100%(3) 78%(3) 54%(3) 62%(3) 62%(3)
0 0
H1 2009 H2 2009 H1 2010 H2 2010 H1 2011 H1 2009 H2 2009 H1 2010 H2 2010 H1 2011
Consumption Production Consumption Production Excl. Raspadskaya Raspadskaya Production
(1) Self-coverage, %= total production divided by total steel segment consumption
(2) Self-coverage, %= total production (plus 40% of Raspadskaya production on pro rata basis) divided by total steel segment consumption
(3) Self-coverage excl. 40% Raspadskaya share

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