Mechel : "MEMORANDUM ON THE PROCEDURE FOR EXERCISING BY SHAREHOLDERS OF MECHEL PAO OF THEIR RIGHT TO CLAIM FOR THE BUY BACK OF SHARES OWNED BY THEM"

MEMORANDUM

ON THE PROCEDURE FOR EXERCISING BY SHAREHOLDERS OF MECHEL PAO

OF THEIR RIGHT TO CLAIM FOR THE BUY BACK OF SHARES OWNED BY

THEM

Dear shareholder,

Mechel, Public Joint Stock Company (further on referred to as the"Company"or"Mechel PAO"), hereby informs that, in accordance with article 75 of Federal Law No. 208-FZ"On Joint Stock Companies"dd. December 26th1995 (further on referred to as the"Law on Joint Stock Companies"), in view of the fact that the question of"Further approval of (consent to) the major transactions that are at the same time related party transactions" was submitted to theannual general shareholders meeting for consideration, the shareholders who are owners of ordinary shares of Mechel PAO and entitled to claim for the buy-back by Mechel PAO of all or any part of the shares owned by them, if the shareholders meeting resolves in favor of the above mentioned agenda point of the annual general shareholders meeting scheduled for June 30th2020.

The shareholders willing to claim for the buy-back of the shares of the Company be informed of the procedure and price for the buy-back of shares approved by resolution of the Board of Directors:

The buy-back price for the registered ordinary shares of Mechel PAO (state registration number 1-01-55005-E dd. April 29th2003, International Securities Identification Number (code) (ISIN) RU000A0DKXV5) is determined equal to RUB 80.57 (eighty 57/100 rubles) per 1 (one) registered ordinary uncertified share of the Company.

The following is the procedure for the buy-back of shares by the Company, in accordance witharticle 76 of Federal Law "On Joint Stock Company":