MECHEL ANNOUNCES CHANGES IN MANAGEMENT OF GROUP’S POWER DIVISION

Moscow, Russia — March 06, 2012 – Mechel OAO (NYSE: MTL), one of the leading
Russian mining and metals companies, announces the appointment of the new Chief
Executive Officer of Mechel-Energo OOO.
Yuri Yampolsky, 57, who was appointed the new Chief Executive Officer of
Mechel-Energo OOO, replaces Anatoly Chernakov, who was acting chief executive
officer.
Mechel OAO’s Chief Executive Officer Yevgeny Mikhel noted: “Mechel-Energo OOO’s
Chief Engineer Anatoly Chernakov had to administer Mechel’s power division in
winter, which is a traditionally difficult time for all energy producers, and he
handled this task well, which we are very thankful for. Starting today, Yuri
Yampolsky will take up his duties — he will manage all our power generating and
sales companies, coordinate the work of their branches and ensure their
efficiency. Yuri Yampolsky has had many years of practical experience in the
energy sector and has proved himself a high-class specialist and a very capable
administrator.”
Prior to his appointment, since November 2010 to February 2012 Mr. Yampolsky
worked as deputy general director for economy and finance, first deputy general
director and deputy general director in Science and Research Engineering Center
for Interregional Distribution Grid Companies OAO. In 2008-2010, he headed the
Arkhenergo branch of MRSK North-West OAO. In 2007, Mr. Yampolsky headed Eurasia
EnergoService ZAO. In 2005-2006, he was acting deputy general director in
Federal Grid Company of Unified Energy System OAO’s MES Center. In 2003-2005, he
was general director of Taimyrenergo OAO. In 2001-2003, Mr. Yampolsky worked as
first deputy general director and deputy general director for finance in
Marienergo AO. In 1997-2001, he was deputy general director for marketing and
head of the finance, marketing and economic safety department in the Mid-Volga
Research Institute for Energy and Electrification Volgaenergoproject Samara OAO.
Mr. Yampolsky graduated from Moscow Institute for Civil Aviation Engineers with
a specialty in automated control systems, Karaganda Metallurgical Plant’s
Technical College with a specialty in treatment of metals under pressure,
International Market Institute in Samara with a specialty in finance and loans
and the Russian Presidential Academy of National Economy and Public
Administration’s course on management in the energy industry. Mr Yampolsky holds
a doctorate in Economics and has several industry and institutional awards.
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Mechel OAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@mechel.com

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Mechel is one of the leading Russian companies. Its business includes four
segments: mining, steel, ferroalloy and power. Mechel unites producers of coal,
iron ore concentrate, nickel, ferrochrome, ferrosilicon, steel, rolled products,
hardware, heat and electric power. Mechel products are marketed domestically and
internationally.
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Some of the information in this press release may contain projections or other
forward-looking statements regarding future events or the future financial
performance of Mechel, as defined in the safe harbor provisions of the U.S.
Private Securities Litigation Reform Act of 1995. We wish to caution you that
these statements are only predictions and that actual events or results may
differ materially. We do not intend to update these statements. We refer you to
the documents Mechel files from time to time with the U.S. Securities and
Exchange Commission, including our Form 20-F. These documents contain and
identify important factors, including those contained in the section captioned
“Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in our
Form 20-F, that could cause the actual results to differ materially from those
contained in our projections or forward-looking statements, including, among
others, the achievement of anticipated levels of profitability, growth, cost and
synergy of our 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 our shares or ADRs, financial
risk management and the impact of general business and global economic
conditions.