The document provides an overview of EVRAZ Group's operations and financial results for 1H08 and 3Q08. Key points include: - 1H08 EBITDA increased 82% to $3.7 billion due to stronger pricing and acquisitions. - Russian steel revenue grew 44% while sales volumes remained flat. Prices started declining in 3Q08. - North American operations benefited from higher prices and acquisitions. European sales volumes declined but revenues rose. - Mining output increased, raising self-sufficiency in iron ore and coking coal. - Total debt as of September 2008 was $10.17 billion including $4.27 billion short-term debt,

1. EVRAZ GROUP
UBS Annual Conference
Russia/CIS: To Prosperity
Through Partnership
October 30, 2008

2. Disclaimer 02
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. Evraz Strategy 03
Our Vision is to be a world class steel and mining company and one of the Top 5 most
profitable steelmakers globally by ROCE and EBITDA margin
Advance long product leadership in Russia and 2007 EBITDA per Tonne of Steel Sales
CIS US$
600
Enhance cost leadership position 514
500
387
400
Expand presence in international plate 325
markets 300 260
216 214
197 190
200 180 178 167
Complete vertical integration and 144 139
88
competitive mining platform 100 63
0
POSCO
Achieve world leadership in vanadium business
NLMK
MMK
Nucor
Baoshan Steel
China Steel
Mechel Steel
US Steel
Maanshan Steel
ArcelorMittal
Gerdau
Evraz
Usiminas
CSN
Nippon Steel
Sources: IISI, Renaissance Capital estimates

4. 1H08 Financial Highlights 04
◦ Revenue increased by 78% to US$10.7 million driven by 1H08 EBITDA
stronger pricing and successful acquisitions US$ mln 185 14
◦ EBITDA soared by 82% to US$3,700 million
796
◦ Share of Russian revenues decreased to 40% and sales
in European and American markets generated 31% of
revenue 2,705
◦ Mining segment EBITDA hedged US$84 per tonne of
crude steel
Steel Mining Vanadium Other and unallocated
Steel Sales Volumes* 1H08 vs 1H07 1H08 Revenue by Region
‘000 tonnes US$ mln
10,000
319
9,000 431 404 12,000
8,000 195 1,331
441
7,000
1,053 10,000
1,195 1,543
6,000 1,079
8,000 1,763
5,000 788
2,618 3,148 106
6,000
4,000 820 1,911
961
3,000 4,000 277
1,068
2,000
3,090 2,987 2,000 4,280
1,000 2,786
- -
1H2007 1H2008 1 H07 1 H08
Russia Asia CIS Americas Europe Africa & RoW
Semi-finished products Construction products
Railway products Flat-rolled products
Tubular products Other steel products

5. Russian Operations Construction Products Consumption
05
‘000 tonnes and Russia’s GDP Growth*
◦ Russian steel revenue grew by 44% in 1H08
7000 25.0%
fuelled by domestic construction growth and
strong pricing 6000
20.0%
◦ Sales volumes of 3.8 million tonnes in 1H08 were 5000
15.0%
almost flat y-o-y with a shift in sales mix to 4000
higher margin products 3000
10.0%
◦ In 3Q08 prices for construction products started to 2000
5.0%
decline reflecting seasonal decline in demand and 1000
freeze of construction projects caused by 0 0.0%
2003 2004 2005 2006 2007 2008F 2009F 2010F
uncertainty on financial markets
Rebars Angles, channels, sections GDP growth
*2008-2010 Evraz estimates
Evraz Russian Market Sales Volumes
‘000 tonnes Price Environment
4,000 US$/t
338 262
214 185
3,000 733 810 1,600
1,400
1,200
2,000
1,792 1,000
2,134
800
1,000
600
753 400
463
- 200
1H07 1H08 01-07 04-07 07-07 10-07 01-08 04-08 07-08 10-08
Semi-finished products Construction products H-beams Rebars (CPT, Moscow)
Railway products Flat-rolled products Channel 10-16 (CPT, Moscow) Turkey Rebars, export (FOB)
Other steel products
Source: Metal-Courier

6. North American and European Operations 06
◦ North America:
◦ In 1H08, average steel price grew by 22% to US$1,155/t
◦ Substantial growth of flat products sales volumes due to Claymont Steel consolidation (+182 thousand tonnes)
◦ Revenues from rail sales increased by 15%
◦ IPSCO Canada operations consolidated since June 12, 2008, contributed US$85.6 million to revenues and 59
thousand tonnes to the sales volumes
◦ Evraz Inc. Canada’s pipe-making capacity is fully booked until 2010
◦ All North American operations were integrated into joint company Evraz Inc. NA with HQ in Portland (Oregon)
◦ Europe:
◦ In 1H08, sales of flat-rolled products were down by 20% in volumes but up 34% in revenues due to high prices for
plate
North American Market Sales Volumes European Market Sales Volumes
‘000 tonnes ‘000 tonnes
36
229
111
401
248
404
415
Construction products Railway products Construction products Flat-rolled products
Flat-rolled products Tubular products Other steel products

7. Mining 07
◦ 1H08 EBITDA increased by 134% to US$796 million
◦ 11.3 million tonnes 1H08 iron ore output, increasing self-coverage to 93%
◦ Iron ore production cost of US$60/t in Russia and US$25/t in Ukraine
◦ Coking coal production almost fully covered* steel making requirements for coal in Russia and
Ukraine in 1H08
◦ Coking coal cash cost amounted to US$36 per tonne
◦ 1H08 revenue from steam coal sales amounted to US$160 million with 2.2 million tonnes of
shipments
1H08 Coking Coal Balance 1H08 Iron Ore Balance
‘000 tonnes
‘000 tonnes
8,000 13,500
7,000 12,000 771
788 10,500 1,083 1,335
6,000 1,392
1,012 9,000 1,564
5,000
604 7,500
4,000
6,000
3,397 10,040
3,000 4,500
5,402 8,624
2,000 4,390 3,000
1,000 1,500
1,518
0
0
Gross Consumption Coke sales Steel Making Evraz production 40% of Production Consumption
Needs Raspadskaya
production Russia Ukraine S.Africa
Russia Ukraine
* Self-coverage is calculated as a sum of coking coal production by Mine 12, pro forma Yuzhkuzbassugol production and pro rata to Evraz’s ownership production of
Raspadskaya , in coal concentrate equivalent, divided by group’s total coking coal consumption excluding coal, used in production of coke for sale to third parties

8. 3Q08 Operational Results 08
3Q08 Crude Steel and Rolled Products Output
◦ Production of crude steel increased by 32% and of ‘000 tonnes
6,000
rolled products – by 30% y-o-y 4,743 4,324 4,886 4,491
◦ Group’s production growth is attributable to 4,500 3,695
3,460
acquisitions in North America and Ukraine 3,000
◦ Production of construction products declined as a
consequence of shrinking demand globally 1,500
◦ Production volumes of flat-rolled and tubular 0
goods in North America increased as a result of 3Q07 2Q08 3Q08
IPSCO and Claymont Steel consolidation Crude steel Rolled products
3Q08 Crude Steel Production by Region 3Q08 Rolled Products Production by Region
‘000 tonnes
‘000 tonnes
1,500
218
1,250
607
1,000
219
750
264
500
3,578 250
0
3Q07
2Q08
3Q08
3Q07
2Q08
3Q08
3Q07
2Q08
3Q08
3Q07
2Q08
3Q08
3Q07
2Q08
3Q08
3Q07
2Q08
3Q08
Semi- Construction Railway Flat Tubular Others
finished
Russia Ukraine Europe North America South Africa
Russia Ukraine Europe North America South Africa

9. 3Q08 Price Dynamics 09
◦ The overall pricing environment for the majority of steel products was favourable in 3Q08
◦ The price for construction products remained strong in Russia, Europe and South Africa
◦ The prices for plate and tubular goods in North America levelled out after a 1.5-year period of
growth
◦ The prices for flat-rolled products in Europe and South Africa continued to increase due to
steady demand
Construction Products Flat-Rolled & Tubular non-Russian
US$/t US$/t
1,900
1,500
1,700
1,300 1,500
1,100 1,300
1,100
900
900
700
700
500 500
1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08
Russia Europe North America South Africa Flat, Europe Flat, NA Tubular, NA Flat, SA

10. Current Debt Portfolio 010
◦ As of 30 September 2008, the total debt amounted to US$10.17 billion, including US$4.27 billion
of short-term debt
◦ 93.4% of the total debt is denominated in USD, 3.0% in RUR and 3.3% in EUR; for short-term
debt it is 89.2% in USD, 7.1% in RUR and 2.9% in EUR
◦ In the next 12 months total interest payments will amount to approximately US$700 million
Debt Maturity Short-Term Debt Structure
US$ mln US$ mln
2,500 2,500
2,203
2,069
2,000 201
1,796 2,000 300
1,500 1,500 925
805
1,047
1,000 801 747 764 1,000
700 244
800
500 500
719
23 12 10 276
0 0
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2008 2009
Eurobond 2009
Syndicated $3.2b loan payments
Term loans
IPSCO bridge
Other revolving debt

11. Evraz’s Global Business 011

12. +7 495 232-1370
IR@evraz.com
www.evraz.com