core sector communique

Mechel Announces Board of Directors’ Resolutions

Moscow, Russia – May 13, 2010 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announces resolutions adopted by the company’s Board of Directors. Mechel OAO’s Board of Directors meeting was held on May 12, 2010. The following resolutions were adopted at the meeting: 1. Schedule Annual General Shareholders’ Meeting of Mechel OAO on June 30, 2010. The Meeting will be held at: 1 Krasnoarmeyskaya str., Moscow, Russian Federation. 2. Approve the Annual General Shareholders’ Meeting agenda as follows: - Approval of the company’s Annual Report. - Approval of the company’s Annual Financial Statements inclusive of the Income Statement (Profit and Loss Accounts). - Distribution of the Company’s profit, including payment (declaration) of dividends, based on the financial year results. - Election of members of the company’s Board of Directors. - Election of members of the company’s Audit Commission. - Approval of the auditor of the company. - Approval of the revised Charter of the company. - Approval of the revised Bylaw on the General Shareholders’ Meeting of the company. - Approval of the revised Bylaw on the Board of Directors of the company. - Approval of the revised Bylaw on the Members of the Board of Directors’ Remuneration and Reimbursement for Expenses Associated with Performance of Their Duties as Members of the Board of Directors. - Approval of related-party transactions. 3. The list of the shareholders eligible to take part in the Annual General Shareholders’ Meeting shall be prepared based on the data of the Shareholders’ Register as of May 24, 2010. 4. Establish a Representative Office of Mechel OAO in Kemerovo to be located at: 90/4 Lenin Avenue, Kemerovo, 650036, Russian Federation. Approve the Bylaw on Mechel OAO’s Representative Office in Kemerovo. Appoint Mr. Konstantin A. Panfilov as the Representative Office Manager. Make relevant amendments to Mechel OAO’s Charter. *** 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, steel, ferrochrome, ferrosilicon, rolled products, hardware, heat and electric power. Mechel products are marketed domestically and internationally.