Further cautionary announcement EVRAZ Highveld Steel and Vanadium Limited (Incorporated in the Republic of South Africa) (Registration No: 1960/001900/06) Share code: EHS ISIN: ZAE000146171 (“the Company”) Further cautionary announcement Shareholders of the Company ("Shareholders") are referred to the cautionary announcement released by the Company on SENS on 27 March 2013, and the subsequent updates thereto ("Cautionary Announcements"). Evraz plc has advised the independent board of the Company that it is, in addition to Nemascore (Proprietary) Limited, currently engaging with other potential bidders with a view to disposing of its 85.11% stake in the Company. The independent board of the Company has agreed to allow these potential bidders to conduct a due diligence investigation into the affairs of the Company. Evraz plc has also advised the independent board of the Company that at this stage the negotiations with potential bidders are incomplete, confidential and non-binding, hence there is no certainty that a transaction will take place. Accordingly, Shareholders are advised to exercise caution when dealing in the Company's securities until a further announcement is made or this cautionary announcement is withdrawn. eMalahleni 21 February 2014 J.P. Morgan Equities South Africa (Pty) Ltd. Sponsor Date: 21/02/2014 01:05:00 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.