Moscow, Russia– May 21, 2019 – 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 21, 2019.

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 18.21 rubles per one preferred share;
- that the list of persons entitled to receive dividends for 2018 be made based on the data in the Mechel PAO Shareholders’ Register as of July 18, 2019.

The Board of Directors also recommended the general meeting of Mechel PAO’s shareholders to approve dividing part of accumulated profit from previous years as follows:
- to allocate 2,526,763,422.15 rubles for payment of dividends for listed preferred shares;
- to leave the remainder of profit (6,062,469,908.78 rubles) unallocated.

The annual general meeting of shareholders will be held on June 28, 2019 at the following address: Russia, Moscow, Leningradsky Prospect, 37 bldg 9, Aerostar Hotel.

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

The annual general meeting of shareholders will be held at 12:00 local time. Registration of persons participating in the general meeting of shareholders will begin at 11:00 local time.

***

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