Update to Cautionary Announcement and Further Cautionary Announcement EVRAZ Highveld Steel and Vanadium Limited Registration number: 1960/001900/06 (Incorporated in the Republic of South Africa) Share code: EHS ISIN ZAE000146171 (“EVRAZ Highveld” or “the Company”) Update to Cautionary Announcement and Further Cautionary Announcement Shareholders of the Company ("Shareholders") are referred to the cautionary announcement released by the Company on SENS on 27 March 2013 ("the Cautionary"). Further to the Cautionary, Shareholders are advised that EVRAZ plc has released the following announcement: "EVRAZ plc (LSE: EVR) ("EVRAZ" or "the Company") announces the signing of a non- binding term sheet in respect of the proposed sale of its 85% stake in EVRAZ Highveld Steel and Vanadium Limited (“EVRAZ Highveld”) to a black economic empowerment consortium represented by Nemascore (Pty) Ltd, for an indicative cash consideration of approximately US$320 million (the "Transaction"). EVRAZ will utilise the sale proceeds for general corporate purposes. The Transaction will be the largest black economic empowerment transaction in the South African steel sector to date. The Transaction is subject to standard due diligence procedures and the conclusion of a formal agreement, the implementation of which will be subject to requisite regulatory approvals. The parties expect the Transaction to be executed and completed in the course of Q2 of 2013. The parties have agreed upon a transition period during which EVRAZ will support the management of EVRAZ Highveld to ensure stable operations and a smooth transfer of the business. … ” Should the Transaction become unconditional, in compliance with the Companies Act, 2008, a mandatory offer will be made to all the remaining Shareholders. Shareholders are advised to continue to exercise caution when dealing with their shares until such time as a detailed announcement is made or the cautionary announcement is withdrawn. For further information: Media Relations: Oleg Kuzmin VP, Corporate Communications London: +44 207 832 8998 Moscow: +7 495 937 6871 media@evraz.com Investor Relations: Sergey Belyakov Director, Investor Relations London: +44 207 832 8990 Moscow: +7 495 232 1370 ir@evraz.com eMalahleni 28 March 2013 Sponsor J.P. Morgan Equities South Africa Proprietary Limited Date: 28/03/2013 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.