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EVRAZ announces organisational and management changes

EVRAZ announces changes to its organisational structure and executive team.

The Steel and Iron Ore Divisions are disbanded; the Urals, Siberia, and Ukraine Divisions are established based on the geography of assets.

The Urals Division will include EVRAZ NTMK and EVRAZ KGOK and will be headed by Vice President Maksim Andriasov. The Ukrainian assets – EVRAZ DMZ Petrovskogo, EVRAZ Sukha Balka and EVRAZ Bagleykoks – will form the Ukraine Division, headed by Vice President Denis Novozhenov. Appointment of the Head of the Siberia Division, which will comprise EVRAZ ZSMK and Evrazruda, will be announced separately. The assets managed by Raspadskaya Coal Company and Mezhegeyugol will remain in the Coal Division, headed by Sergey Stepanov, Vice President, EVRAZ.

In line with the company’s focus on improving margins, increasing efficiency of sales and operations, the Commerce and Business Development Unit has been created within the corporate centre. It will be headed by Aleksey Ivanov who previously led EVRAZ’s Steel Division. Aleksey has been appointed Senior Vice President. The new unit will coordinate the sales of steel, ore and vanadium. It will also be responsible for technological development of steel and ore businesses, marketing and operational planning, project management and operational improvements. The unit will also take on centralised procurement and sourcing, including managing the Company’s energy assets. Besides, the unit will be in charge of vanadium assets and EVRAZ Caspian Steel in Kazakhstan.

The Finance Unit led by Pavel Tatyanin, Senior Vice President and CFO, is responsible for budgeting, financial strategy and finance management, legal affairs, and IT development. The unit will continue overseeing the Company’s North American business.

Alexander Frolov, EVRAZ’s CEO, said, “I am positive that the updated organisational structure opens up new opportunities and will enable EVRAZ to most efficiently tackle current challenges, including further reduction of costs, improving the quality of products and services to strengthen the Company’s leading position in the market, ensuring a higher efficiency of investments.”

Prior to joining EVRAZ, Maksim Andriasov worked in managerial positions in OJSC Tyumen Oil Company, OJSC Sidanko, and TNK-BP. Starting from 2012, he worked in PJSC ANK Bashneft, as head of regional sales and later as first vice president, processing and sales. Maksim graduated from the Russian State Gubkin Oil and Gas Academy, majoring in mining engineering. In 2012, he completed the INSEAD programme Building a Global Company.

Denis Novozhenov has been with EVRAZ since 1996. He started as economist at EVRAZ NTMK, subsequently holding a number of managerial positions at EVRAZ VGOK, Evrazruda and Yuzhkuzbassugol. In 2011, he was appointed General Director of the Steel Mill in Smolensk region. Denis graduated from the Urals State Technical University, majoring in engineering and economics. He has an MBA from the SYNERGIYA institute for economics and finance.

By EVRAZ.