1. Investor PresentationJune 2010

2. 2DisclaimerThis 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 oracquire securities of Evraz Group S.A. (Evraz) or any of its subsidiaries in any jurisdiction or an inducement to enter into investment activity. No partof this document, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment orinvestment decision whatsoever. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placedon, 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 thisdocument 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) investmentprofessionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the Order) or (iii) highnet worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all suchpersons together being referred to as relevant persons). Any person who is not a relevant person should not act or rely on this document or anyof its contents.This document contains forward-looking statements, which include all statements other than statements of historical facts, including, withoutlimitation, 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 Evrazs control that could cause the actual results, performance or achievements of Evraz to bematerially different from future results, performance or achievements expressed or implied by such forward-looking, including, among others, theachievement of anticipated levels of profitability, growth, cost and synergy of recent acquisitions, the impact of competitive pricing, the ability toobtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatilityin stock markets or in the price of our shares or GDRs, financial risk management and the impact of general business and global economicconditions.Such forward-looking statements are based on numerous assumptions regarding Evrazs present and future business strategies and theenvironment in which Evraz Group S.A. will operate in the future. By their nature, forward-looking statements involve risks and uncertaintiesbecause they relate to events and depend on circumstances that may or may not occur in the future. These forward-looking statements speakonly as at the date as of which they are made, and Evraz expressly disclaims any obligation or undertaking to disseminate any updates or revisionsto any forward-looking statements contained herein to reflect any change in Evrazs 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 theforward-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. 3Evraz Group in Brief World-class steel and mining company, among the 20 largest steel companies inthe world Leader in the Russian and CIS construction and railway products markets A lead player in the European and North American plate and large diameter pipemarkets One of the worlds lowest cost steel producers due to production efficiency and highlevel 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 ofpig iron and 14.3 million tonnes of rolled products 2009 consolidated revenue amounted to $9.8 billion 2009 EBITDA was $1.2 billion 4. 4Evrazs Global Business 5. 5Sound Long-Term StrategyLong and railway product leadership in Russia and the CIS Maintained leadership in Russias construction steel market Rail mill reconstruction designed to produce high-speed rail and increase rail production volumesStrong presence in international flat and tubular markets Continuous integration of international assets Full order book at Canadian tubular plant for 2010Low cost leadership position Cost of revenue reduced by 35% compared to 2008 Closure of inefficient production capacity Ongoing implementation of cost reduction programsVertical integration with competitive mining business Iron ore self-coverage: 96% Coking coal self-coverage: 117%* Won tender for Mezhegey coal deposit to maintain coking coal self-coverage going forwardLeadership in vanadium business The sole producer of vanadium-rich ore in Russia Global footprint: five operating units on four continents Acquisition of Vanady-Tula, Russias largest producer of ferrovanadium, signals further expansion ofvanadium-processing capacity * Including 40% equity stake in Raspadskaya coal company, accounted on pro rata basis. Excluding this stake, integration would have been 74% 6. 61Q 2010 Financial SummaryUS$ mln unless otherwise stated 1Q 20101Q 2009ChangeRevenue 2,9702,41323%Adjusted EBITDA*424 305 39%Adjusted EBITDA margin 14.3%12.6%Total debt**7,9539,041 (12)%Cash and cash equivalents** 793855(7)%Capex 160103 55%Sales volumes*** (000 tonnes)3,8703,456 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 toConsolidated Revenue and EBITDAUS$136m, Vanadium Segment US$124m and US$ mln 2,970Other revenues reached US$342m (incl. US$66m3,0002,654 2,479from rendering of services) 2,5002,4132,226 Iron ore sales (incl. intersegment shipments) 2,000totalled 4 mln tonnes 1,500 Coal sales (incl. intersegment shipments) were 3.81,000500406363 424mln tonnes, including 1.1 mln tonnes of raw coking305163coal, 1.4 mln tonnes of steam coal and 0.9 million0 1Q09 2Q09 3Q094Q091Q10tonnes of coking coal concentrateRevenueEBITDA Steel Sales VolumesSteel Sales000 tonnes US$ mln4,5003,8702,368 25004,0003,456 1162,023693,500 121189255 2000 62236 6453,000392437484 4552,500 4181500 336 3942,0001,20081210002881,500 7061,000379 1,384 1,265 50050050856500 1Q091Q10 1Q091Q10 Semi-finished products Construction productsRailway products Semi-finished productsConstruction productsRailway products Flat-rolled products Tubular products Other steel products Flat-rolled productsTubular products Other steel products 8. 8Maintaining Cost Leadership Control of raw material costs through cost efficientCash Cost*, Slabs & Billetsvertical integrationUS$/t Constant review of product and resources flows to450400 402430identify potential efficiency gains394420350 Approximately 75% of consolidated cost is rouble300 253285denominated 250268 In 2009, Russian-based assets have benefited200224from declines in utilities and staff costs150 1H08 2H081H092H09 In 2H09 costs were negatively affected by raising SlabBilletscrap prices *Average for Russian steel mills, integrated cash cost of production, EXWConsolidated Cost of Revenue, 2009 Cash Cost, Russian Coal andIron Ore Products 5%6% US$/t 17%10%70 6360565% 17%6%50474346 508%40 8%4%11% 3%303530 Iron ore Coking coal Scrap20 FerroalloysPurchased semis Auxiliary materials1H082H08 1H09 2H09 ElectricityNatural gas Staff costs Transportation DepreciationOther Coking coalIron ore products 58% FeSource: Management accounts 9. 9 Balanced Debt Maturity ProfileTotal debt of approx. US$7.9bn, net debt of US$7.2bn as of 31 March 2010RUB15bn (equivalent US$500m) 3-year bonds issued in March 2010, fully swapped into US$ to eliminate RUB currency exposureIn May 2010, Evraz drew down US$950m 5-year Gazprombank loan and repaid US$1,007m VEB loanAdequate consolidated cash balance of ca.US$700m always maintained Debt Maturities Schedule Debt Maturities ScheduleBreakdown of Short-term Debt Breakdown of Short-term Debt(as at 31 May 2010*)(as at 31 May 2010*) (as at 31 May 2010) (as at 31 May 2010)US$ mln US$ mln2,000 1,860 2241,8001,5451,6001,4001,1581,200 9501,000 800616800 508 509 600 274 400 2001615 02010201120122013 201420152016 2017 2018 Q1Q2 Q3Q4 * Excluding trade finance / overdraft facilities & convertible bondsSyndicated loans Revolvers Russian bilateral loansSource: Management accounts 10. 10Increase in Export and Geographic Diversification In 2009, sales to customers outside Russia increased Steel Products Sales Volumes by Product Steel Products Sales Volumes by Productfrom 61% to 71% of total revenues000 tonnes 2009 sales of steel products to Asia exceeded sales to 6,0005,188 5,273 5,314Russia and the CIS, reflecting production flexibility and 4,218increasing cost competitiveness4,000 Geographical diversification of the business helped to2,3672,6472,110stabilise operations in crisis environment 2,0001,588919 667 Change in the product mix towards semi-finished586 426 0products had limited effect on margins due to exportSemi- ConstructionRailway Flat-rolled TubularOther steelparity pricing of Russian domestic finished steel finished20082009productsSteel Products Sales by MarketSteel Products Sales by MarketSteel Products Sales by OperationsSteel Products Sales by Operations000 tonnes000 tonnes8,00016,0006,56912,3935,6656,00012,00010,7374,465 4,1234,000 8,0002,723 1,8892,0732,000 1,215 4,000 2,699 712 642663 5642,0751,261 885 668 58500Russia CISEuropeAmericas Asia Africa &Russian & North American European South African RoWUkrainian2008200920082009 11. 111Q 2010 Operational Results In 1Q10, consolidated crude steel output was 4.0 mt, +18% vs. 1Q09 but -6% vs. 4Q09 due to deficit of raw materials (iron ore and scrap in Russian mills, hot iron in Evraz Vitkovice Steel and oxygen in Highveld) Consolidated production of semi-finished products decreased by 30% vs. 4Q09 while production of higher margin products grew, in particular construction products: +4% (Russia: +5%, NA +13%) railway products: +15% (Russia: +12%, NA: +27%) tubular products (NA): +39%Production of Rolled Products000 tonnes 1,600-25%1,400+24%1,2001,0001,197 800 1,334 1,151+48%+8% 600 1,251 966 941624 632 -27% 400 +84% 451 200 417 393428266139 193 140 147 80 0Semi-finished products Construction productsRailway productsFlat-rolled products Tubular products Other steel products% - year-on-year comparison1Q094Q09 1Q10 12. 121Q10 Production of Rolled Products by AssetsRussia North America000 tonnes 000 tonnes3,5002,897 2,8457006273,0001222,596 606 1252,36479 76 128 600 490 4982,5002,309 263 321 45472 127901934371360500 2662,000 306285 936 117 139 868 400 1531,500 843798913 300239 160 186 1951,0001151,4971,455 200 1,084 1,106 79905001,046 112 12171 10069 108921040650 1Q09 2Q093Q09 4Q091Q10 1Q09 2Q093Q094Q09 1Q10 Semi-finished Construction Railway Flat-rolledOther steel Construction productsRailway products Flat-rolled products Tubular products Europe South Africa 000 tonnes 000 tonnes 300 284 300 26446248 250 6 250 202192 20047200 175 149 157154 6 150246 12158 226 205 150 18361 107 100 168 1009866 9850555033 36 425062 48 161733 34 0 0121Q092Q093Q09 4Q09 1Q10 1Q092Q093Q094Q09 1Q10Construction productsFlat-rolled productsOther steel products Construction productsFlat-rolled productsOther steel products 13. 13Key Market Developments Recovery in prices for semi-finished steel is driven Evraz Selling Pricesby growing input costs and by demand from US$/temerging markets in Asia, the Middle East and900North Africa 800 Demand in all markets improving700 600 Russian domestic demand for construction steel in5002010 expected to be 10% higher than in 2009400 300 Expected steelmaking capacity utilisation in 1H10: 200Jan-09Mar-09May-09Jul-09 Sep-09 Nov-09 Jan-10Mar-10May-10Russia to remain 100% Slabs, Russia, export* Billets, Russia, export* Ukraine to remain 100%Rebars, Russia, FCAPlate, North America, FCA North America from nadir of 50-55% in 3Q09 to*Weighted average contract prices95% Czech Republic from 30% in 2Q09 to 70% Vanadium Prices, FeV, LMB South Africa from 45% in 1H09 to near 100% Russian mining assets are running at 100% US$/kg Vcapacity in coal and 90% in iron ore 40 Vanadium expected to perform better than steel 35due to increase of vanadium usage rates in the 30emerging markets steel production sector closer 25to the levels of industrially developed countries 20 15Jan-09 Mar-09May-09Jul-09Sep-09 Nov-09 Jan-10Mar-10May-10 14. 14Key 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 anddevelopment projects, key projects being: Cum CAPEX byProjectTotal CAPEX2010 CAPEX Project Targets 31.12.09Reconstruction of rail mill at US$440m Capacity of 950k tonnes of high-speed rails, including 450k tonnes US$30m US$220mof 100 metre railsNKMK On-stream by 2013 Production of higher-quality railsReconstruction of rail mill at US$55mNTMK US$28m US$27m 550k tonnes capacity On-stream by 2012 Lower coke consumption from 420 to 320 kg/tonnePulverised coal injection (PCI) US$320mat NTMK and ZSMK US$0mUS$10m No need for gas consumption On-stream by 2013 Modernisation of productionBOF workshop reconstruction US$260mNTMK US$230mUS$20m Increasing capacity from 3.8 to 4.2 mtpa On-stream by 2010 Modernisation of productionReconstruction of CCM Slab3 NTMKUS$60mUS$5mUS$40m Further increase in steelmaking capacity from 4.2 to 4.5 mtpa On-stream by 2010Reconstruction of wheel &tyre mill (heat treatmentUS$100m US$87m US$13m Production of higher-quality wheelsshop) NTMK On-stream by 2010Development of Mezhegey Less than US$50m, Maintaining self-sufficiency in high-quality hard coking coal after TBD US$1m depletion of existing depositscoal depositincluding license cost On-stream by 2015 15. 15Outlook for 2010 Continuation of favourable pricing trends driven by higher raw material costs, growth in emerging markets and moderate recovery in mature markets Russian and Ukrainian operations expected to continue running at full capacity, utilisation of overseas assets expected to increase in response to improved demand Higher raw material prices provide support to steel prices Asian, Middle Eastern and African markets to remain important sources of revenue for Russian and Ukrainian operations 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 Short-term debt to decrease by US$1-1.5bn in 2Q10 due to a series of refinancing activities 16. +7 495 232-13-70IR@evraz.com www.evraz.com