Update in urgent interdict proceedings instituted under case No: 85549/2015 EVRAZ Highveld Steel and Vanadium Limited (Incorporated in the Republic of South Africa) Registration No: 1960/001900/06) Share code: EHS ISIN: ZAE000146171 (“Highveld” or “the Company”) FURTHER NOTICE TO SHAREHOLDERS OF EVRAZ HIGHVELD STEEL AND VANADIUM LIMITED (IN BUSINESS RESCUE) (“HIGHVELD”): UPDATE IN URGENT INTERDICT PROCEEDINGS INSTITUTED UNDER CASE NO: 85549/2015 Shareholders are advised that the Company has filed a notice of intention to oppose the further urgent court proceedings East Metals AG (“EM”) and Mastercroft S.A.R.L (“Mastercroft”) have instituted against inter alia Highveld, the joint Business Rescue Practitioners of Highveld (“the BRPs”) and several other affected persons of Highveld. In accordance with Regulation 6 of the Companies Act, the details of the abovementioned court proceedings are as follows: 1. On or about 26 October 2015, EM and Mastercroft furnished the BRPs with a copy of an urgent application in terms of which EM and Mastercroft seek to inter alia interdict and restrain Highveld and the BRPs from implementing the business rescue plan in respect of Highveld, pending the final determination of the main application launched under the above case number. 2. On or about 30 October 2015, the BRPs filed a notice of intention to oppose the urgent interdict application. 3. On or about 3 November 2015, the BRPs filed an answering affidavit to the urgent interdict application. A copy of the notice of intention to oppose and the answering affidavit is available on Highveld’s website under Business Rescue at http://www.evrazhighveld.co.za/businessrescue.asp. A copy of the full papers in the urgent interdict application is also available upon request made to mscruse@matusonassociates.co.za. eMalahleni 5 November 2015 Sponsor J.P. Morgan Equities South Africa Proprietary Limited Date: 05/11/2015 02:06:00 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.