MECHEL REPORTS SUSPENSION OF WORK AT V.I. LENINA UNDERGROUND MINE

Moscow, Russia — July 5, 2012 – Mechel OAO (NYSE: MTL), one of the leading
Russian mining and metals companies, reports that work was temporarily halted at
V.I. Lenina Underground mine.
Following an inspection conducted by the Mezhdurechensk territorial branch of
the Southern Siberian department of the Federal Agency for Ecological,
Technological and Nuclear Monitoring, mining at V.I. Lenina Underground mine was
suspended by order of the Mezhdurechensk city court.
At present most of the monitoring agency’s requirements have been met and
practically all violations have been eliminated. Mining at all of V.I. Lenina
Underground mine’s facilities is planned to be resumed shortly.
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Mechel OAO
Maria Kolmogorova
Tel: + 7 495 221 88 88
maria.kolmogorova@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.