The investor presentation provides an overview of Evraz Group, a leading global steel and mining company. Some key points include: - Evraz is the 14th largest steel producer globally with operations in Russia, Ukraine, Europe and North America. - In the first quarter of 2010, Evraz saw a 23% increase in revenue and 39% increase in adjusted EBITDA compared to the same period last year. - Evraz maintains a leadership position in construction steel and railway markets in Russia and the CIS while also having a strong international presence in plate and tubular products. - The company focuses on maintaining its low-cost position through vertical integration and ongoing efficiency programs. In 2 sentences or

1. Investor Presentation
July 2010

2. 2
Disclaimer
This document does not constitute or form part of and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or
acquire securities of Evraz Group S.A. (Evraz) or any of its subsidiaries in any jurisdiction or an inducement to enter into investment activity. No part
of this document, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or
investment decision whatsoever. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed
on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. None of Evraz or any of its affiliates,
advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this
document or its contents or otherwise arising in connection with the document.
This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment
professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high
net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such
persons together being referred to as “relevant persons”). Any person who is not a relevant person should not act or rely on this document or any
of its contents.
This document contains “forward-looking statements”, which include all statements other than statements of historical facts, including, without
limitation, any statements preceded by, followed by or that include the words “targets”, “believes”, “expects”, “aims”, “intends”, “will”, “may”,
“anticipates”, “would”, “could” or similar expressions or the negative thereof. Such forward-looking statements involve known and unknown risks,
uncertainties and other important factors beyond Evraz’s control that could cause the actual results, performance or achievements of Evraz to be
materially different from future results, performance or achievements expressed or implied by such forward-looking, including, among others, the
achievement of anticipated levels of profitability, growth, cost and synergy of 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 GDRs, financial risk management and the impact of general business and global economic
conditions.
Such forward-looking statements are based on numerous assumptions regarding Evraz’s present and future business strategies and the
environment in which Evraz Group S.A. will operate in the future. By their nature, forward-looking statements involve risks and uncertainties
because they relate to events and depend on circumstances that may or may not occur in the future. These forward-looking statements speak
only as at the date as of which they are made, and Evraz expressly disclaims any obligation or undertaking to disseminate any updates or revisions
to any forward-looking statements contained herein to reflect any change in Evraz’s expectations with regard thereto or any change in events,
conditions or circumstances on which any such statements are based.
Neither Evraz, nor any of its agents, employees or advisors intends or has any duty or obligation to supplement, amend, update or revise any of the
forward-looking statements contained in this document.
The information contained in this document is provided as at the date of this document and is subject to change without notice.

3. 3
Evraz Group in Brief
◦ World-class steel and mining company, 14-th largest steel companies in the world
based on 2009 crude steel production volumes
◦ Leader in the Russian and CIS construction and railway products markets
◦ A lead player in the European and North American plate and large diameter pipe
markets
◦ One of the world’s lowest cost steel producers due to production efficiency and high
level of vertical integration
◦ One of the leading producers in the global vanadium market
◦ In 2009, Evraz produced 15.3 million tonnes of crude steel, 11.3 million tonnes of
pig iron and 14.3 million tonnes of rolled products
◦ 2009 consolidated revenue amounted to $9.8 billion
◦ 2009 EBITDA was $1.2 billion

4. 4
Evraz’s Global Business

5. 5
Sound Long-Term Strategy
Long and railway product leadership in Russia and the CIS
◦ Maintained leadership in Russia’s construction steel market
◦ Rail mill reconstruction designed to produce high-speed rail and increase rail production volumes
Strong presence in international flat and tubular markets
◦ Continuous integration of international assets
◦ Full order book at Canadian tubular plant for 2010
Low cost leadership position
◦ Cost of revenue reduced by 35% compared to 2008
◦ Closure of inefficient production capacity
◦ Ongoing implementation of cost reduction programs
Vertical integration with competitive mining business
◦ Iron ore self-coverage: 96%
◦ Coking coal self-coverage: 117%*
◦ Won tender for Mezhegey coal deposit to maintain coking coal self-coverage going forward
Leadership in vanadium business
◦ The sole producer of vanadium-rich ore in Russia
◦ Global footprint: five operating units on four continents
◦ Acquisition of Vanady-Tula, Russia’s largest producer of ferrovanadium, signals further expansion of
vanadium-processing capacity
* Including 40% equity stake in Raspadskaya coal company, accounted on pro rata basis. Excluding
this stake, integration would have been 74%

6. 6
1Q 2010 Financial Summary
US$ mln unless otherwise stated 1Q 2010 1Q 2009 Change
Revenue 2,970 2,413 23%
Adjusted EBITDA* 424 305 39%
Adjusted EBITDA margin 14.3% 12.6%
Total debt**
7,953 9,041 (12)%
Cash and cash equivalents** 793 855 (7)%
Capex 160 103 55%
Sales volumes*** (’000 tonnes) 3,870 3,456 12%
* Adjusted EBITDA represents profit from operations plus depreciation and amortisation, impairment of assets and loss (gain) on disposal of PP&E.
** As of the end of the period
*** Here and further in this presentation steel segment sales data refer to third parties sales
Source: Management accounts

7. 7
1Q 2010 Performance
◦ 1Q10 Mining Segment revenue amounted to Consolidated Revenue and EBITDA
US$136m, Vanadium Segment – US$124m and US$ mln
2,970
Other revenues reached US$342m (incl. US$66m 3,000
2,654
2,479
from rendering of services) 2,500
2,413
2,226
◦ Iron ore sales (incl. intersegment shipments) 2,000
totalled 4 mln tonnes 1,500
◦ Coal sales (incl. intersegment shipments) were 3.8
1,000
500 406 363
424
mln tonnes, including 1.1 mln tonnes of raw coking 305
163
coal, 1.4 mln tonnes of steam coal and 0.9 million 0
1Q09 2Q09 3Q09 4Q09 1Q10
tonnes of coking coal concentrate Revenue EBITDA
Steel Sales Volumes Steel Sales
‘000 tonnes US$ mln
4,500 3,870 2,368
2500
4,000 3,456 116 2,023 69
3,500 121 189 255
2000 62
236 645
3,000 392 437
484 455
2,500 418 1500 336
394
2,000 1,200
812 1000 288
1,500 706
1,000 379
1,384 1,265 500
500 508 565
0 0
1Q09 1Q10 1Q09 1Q10
Semi-finished products Construction products Railway products Semi-finished products Construction products Railway products
Flat-rolled products Tubular products Other steel products Flat-rolled products Tubular products Other steel products

8. 8
Maintaining Cost Leadership
◦ Control of raw material costs through cost efficient Cash Cost*, Slabs & Billets
vertical integration US$/t
◦ Constant review of product and resources flows to
450
400
402
430
identify potential efficiency gains 394
420
350
◦ Approximately 75% of consolidated cost is rouble 300
253
285
denominated 250 268
◦ In 2009, Russian-based assets have benefited 200 224
from declines in utilities and staff costs 150
1H08 2H08 1H09 2H09
◦ In 2H09 costs were negatively affected by raising Slab Billet
scrap prices * Average for Russian steel mills, integrated cash cost of production, EXW
Consolidated Cost of Revenue, 2009 Cash Cost, Russian Coal and
Iron Ore Products
5% 6% US$/t
17%
70
10% 63
60 56
5%
17% 50 47
6% 43
46 50
8% 40
8% 4% 30 35
11% 3% 30
Iron ore Coking coal Scrap 20
Ferroalloys Purchased semis Auxiliary materials 1H08 2H08 1H09 2H09
Electricity Natural gas Staff costs
Transportation Depreciation Other Coal products Iron ore products 58% Fe
Source: Management accounts

9. 9
Balanced Debt Maturity Profile
◦ Total debt of approx. US$8.1bn, net debt of US$7.4bn as of 30 June 2010
◦ RUB15bn (equivalent US$500m) 3-year bonds issued in March 2010, fully swapped into US$ to eliminate
RUB currency exposure
◦ In May 2010, Evraz drew down US$950m 5-year Gazprombank loan and repaid US$1,007m VEB loan
◦ Adequate consolidated cash balance of ca.US$700m always maintained
Debt Maturities Schedule
Debt Maturities Schedule Breakdown of Short-term Debt
Breakdown of Short-term Debt
(as at 30 June 2010)
(as at 30 June 2010) (as at 30 June 2010)
(as at 30 June 2010)
US$ mln US$ mln
2 000
1,778
1 800
1,543
1 600
1,419 593
1 400 786
1 200 1,085
996
1 000
800 721
600 509
400
200 15 11
0 280
2010 2011 2012 2013 2014 2015 2016 2017 2018
Syndicated loans Overdrafts Russian bilateral loans
Q1 Q2 Q3 Q4
Source: Management accounts

10. 10
Increase in Export and Geographic Diversification
◦ In 2009, sales to customers outside Russia increased Steel Products Sales Volumes by Product
Steel Products Sales Volumes by Product
from 61% to 71% of total revenues ’000 tonnes
◦ 2009 sales of steel products to Asia exceeded sales to 6,000
5,188 5,273 5,314
Russia and the CIS, reflecting production flexibility and 4,218
increasing cost competitiveness 4,000
◦ Geographical diversification of the business helped to 2,367
2,647
2,110
stabilise operations in crisis environment 2,000 1,588
919 667
◦ Change in the product mix towards semi-finished
586 426
0
products had limited effect on margins due to export Semi- Construction Railway Flat-rolled Tubular Other steel
parity pricing of Russian domestic finished steel finished
2008 2009
products
Steel Products Sales by Market
Steel Products Sales by Market Steel Products Sales by Operations
Steel Products Sales by Operations
’000 tonnes ’000 tonnes
8,000 16,000
6,569 12,393
5,665
6,000 12,000 10,737
4,465
4,123
4,000 8,000
2,723
1,889 2,073
2,000 1,215 4,000 2,699
712 642 663 564 2,075
1,261 885 668 585
0 0
Russia CIS Europe Americas Asia Africa & Russian & North American European South African
RoW Ukrainian
2008 2009 2008 2009

11. 11
2Q 2010 Operational Results
◦ In 2Q10, consolidated crude steel output was 4.3 mt, +26% vs. 2Q09 and +7% vs. 1Q10
◦ Consolidated production of semi-finished products was down 18% vs. 2Q09 and flat q-o-q while
production of higher margin products grew, in particular (vs. 2Q09)
◦ construction products: Russia: +5%, Europe: + 192%, NA +44%
◦ railway products: Russia: +51%
◦ flat-rolled products: Europe: +63%, NA: +79%
◦ tubular products: NA: +42%
Production of Rolled Products
‘000 tonnes
1,400
‘ +26%
-18%
1,200
1,000 1,210
1,197 +56%
800 +29%
600 1,197 959
977 +42%
941 632 636 +24%
400 525
406 451 408
200
193 215
151 139 147 173
0
Semi-finished products Construction products Railway products Flat-rolled products Tubular products Other steel products
2Q09 1Q10 2Q10
% - year-on-year comparison

12. 12
2Q10 Production of Rolled Products by Assets
Russia North America
‘000 tonnes ‘000 tonnes
3,500
2,897 2,845 2,856
3,000 2,596 700 627
2,364 122 125 149 609
79 76 128 71 600
2,500 263 321 498
127 90 430 490
71 360 500 454 193
215
2,000 285 936 117
868 139
923 400 153
1,500 798 913
300 239 206
186 195
1,000 115
200
1,497 1,455 1,282 79 90 94
500 1,084 1,106 121 71
100
65 108 92 104 94
0 0
2Q09 3Q09 4Q09 1Q10 2Q10 2Q09 3Q09 4Q09 1Q10 2Q10
Semi-finished Construction Railway Flat-rolled Other steel Construction products Railway products Flat-rolled products Tubular products
Europe South Africa
‘000 tonnes ‘000 tonnes
350 330 300
300 264 284 7
248 250
4
250 6 6
192 200 175
200 149 157 6 154 141
7 274 150 5 8
150 246 7
226 205 61 107
168 100 98 98 85
100
50 55
50 62
33 33 36 49 34 50 48 49
0 17 0
2Q09 3Q09 4Q09 1Q10 2Q10 2Q09 3Q09 4Q09 1Q10 2Q10
Construction products Flat-rolled products Other steel products Construction products Flat-rolled products Other steel products

13. 13
Key Market Developments
◦ Prices for semi-finished steel are driven by input Evraz Selling Prices
costs and by demand from emerging markets in US$/t
Asia, the Middle East and North Africa 900
◦
800
International prices for semi-finished steel 700
declined from May, having stabilised in July 600
◦ Russian domestic demand for construction steel in
500
400
2010 expected to be 5-10% higher than in 2009 300
◦ Expected steelmaking capacity utilisation in 3Q10: 200
Jan-09 Mar-09 May-09 Jul-09 Sep-09 Nov-09 Jan-10 Mar-10 May-10 Jul-10
◦ Russia – to remain >90% Slabs, Russia, export* Billets, Russia, export*
◦ North America >90%
Rebars, Russia, FCA Plate, North America, FCA
◦ Czech Republic – temporarily closed since July * Weighted average contract prices
◦ South Africa – 70%
◦ Russian mining assets are running at 85% Vanadium Prices, FeV, LMB
capacity in coal and 90% in iron ore
US$/kg V
◦ Vanadium expected to perform better than steel
due to increase of vanadium usage rates in the 40
emerging markets’ steel production sector closer 35
to the levels of industrially developed countries 30
25
20
15
Jan-09 Mar-09 May-09 Jul-09 Sep-09 Nov-09 Jan-10 Mar-10 May-10

14. 14
Key Investment Projects
◦ CAPEX in 2010 expected to be around US$800m (vs. US$441m in 2009)
◦ Approximately US$450m of 2010 CAPEX to be directed to increasing productivity and
development projects, key projects being:
Cum CAPEX by
Project Total CAPEX 2010 CAPEX Project Targets
31.12.09
Reconstruction of rail mill at US$440m
◦ Capacity of 950k tonnes of high-speed rails, including 450k tonnes
US$30m US$220m of 100 metre rails
NKMK
◦ On-stream by 2013
◦ Production of higher-quality rails
Reconstruction of rail mill at US$55m
NTMK US$28m US$27m ◦ 550k tonnes capacity
◦ On-stream by 2012
◦ Lower coke consumption from 420 to 320 kg/tonne
Pulverised coal injection (PCI) US$320m
at NTMK and ZSMK US$0m US$10m ◦ No need for gas consumption
◦ On-stream by 2013
◦ Modernisation of production
BOF workshop reconstruction US$260m
NTMK US$230m US$20m ◦ Increasing capacity from 3.8 to 4.2 mtpa
◦ On-stream by 2010
◦ Modernisation of production
Reconstruction of CCM Slab
№3 NTMK US$60m US$5m US$40m ◦ Further increase in steelmaking capacity from 4.2 to 4.5 mtpa
◦ On-stream by 2010
Reconstruction of wheel &
tyre mill (heat treatment US$100m US$87m US$13m
◦ Production of higher-quality wheels
shop) NTMK ◦ On-stream by 2010
Development of Mezhegey Less than US$50m,
◦ Maintaining self-sufficiency in high-quality hard coking coal after
TBD US$1m depletion of existing deposits
coal deposit including license cost
◦ On-stream by 2015

15. 15
Outlook for 2010
◦ Pricing affected by raw material costs, growth in emerging markets and moderate recovery in
mature markets
◦ Russian and Ukrainian mills expected to continue running at high operating rates, utilisation
of overseas assets increased in response to measured improvements in demand
◦ Steel sales redirected from export market to Russian domestic market following gradual
demand improvement
◦ Market situation remains volatile
◦ Favourable fundamental trends being offset by lag effect between raw material price increase
and delayed growth of steel sales prices
◦ Global demand for long products is expected to continue to strengthen on the back of
infrastructure investments driven by various governments’ stimulus packages, designed to
combat economic recession
◦ Outlook for 2Q 2010
◦ 2Q10 EBITDA is expected to be within the range of US$725-825m

16. +7 495 232-13-70
IR@evraz.com
www.evraz.com