Moscow, Russia – July 15, 2014 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, reports extending the maturity of the loans granted by VTB Bank earlier to Southern Kuzbass Coal Company OAO and Yakutugol Holding Company OAO, totaling 15.8 billion rubles.

Mechel Group’s Southern Kuzbass Coal Company OAO and Yakutugol Holding Company OAO signed agreements with VTB Bank on extending the maturity of the loans granted earlier totaling 15.8 billion rubles. According to the new schedule, payment on the loans will begin in April 2015 with the final payment to be made in 2018.

By signing these agreements, Mechel completed restructuring of its loans from VTB Bank as part of agreements reached in April. The sum of all extended loans totaled 33.8 billion rubles, including 18.6 billion rubles for 2014, 6.4 billion rubles for 2015 and 8.8 billion rubles for 2016.

“Mechel has all the necessary basis for successful development in the medium term. Today, Mechel Group’s top priority is stabilizing its financial situation. This refinancing agreement with VTB Bank is yet another step in this direction,” Mechel OAO’s Chief Financial Officer Andrey Slivchenko said.

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Mechel OAO

Ekaterina Videman

Phone: +7 495 221-88-88

ekaterina.videman@mechel.com