Exhibit 99.1

INDEX TO FINANCIAL STATEMENTS

Independent Auditors’ Report

The Board of Directors

Severstal Columbus, LLC:

We have audited the accompanying financial statements of Severstal Columbus, LLC, which comprise the balance sheets as of December 31, 2013 and 2012, and the related statements of operations, member’s equity, and cash flows for each of the years in the three-year period ended December 31, 2013, and the related notes to the financial statements.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with U.S. generally accepted accounting principles; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditors’ Responsibility

Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion, the financial statements referred to above present fairly in all material respects, the financial position of Severstal Columbus, LLC as of December 31, 2013 and 2012, and the results of its operations and its cash flows for each of the years in the three-year period ended December 31, 2013, in accordance with U.S. generally accepted accounting principles.

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SEVERSTAL COLUMBUS, LLC

Balance Sheets

December 31, 2013 and 2012

(Amounts in thousands of U.S. dollars)

See accompanying notes to financial statements.

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SEVERSTAL COLUMBUS, LLC

Statements of Operations

Years ended December 31, 2013, 2012 and 2011

(Amounts in thousands of U.S. dollars)

See accompanying notes to financial statements.

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SEVERSTAL COLUMBUS, LLC

Statements of Member’s Equity

Years ended December 31, 2013, 2012 and 2011

(Amounts in thousands of U.S. dollars)

See accompanying notes to financial statements.

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SEVERSTAL COLUMBUS, LLC

Statements of Cash Flows

Years ended December 31, 2013, 2012 and 2011

(Amounts in thousands of U.S. dollars)

See accompanying notes to financial statements.

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SEVERSTAL COLUMBUS, LLC

NOTES TO FINANCIAL STATEMENTS

December 31, 2013 and 2012

(Amounts in thousands of U.S. dollars unless otherwise noted)

(1) Summary of Significant Accounting Policies and Practices

(a)                                 Description of Business

Severstal Columbus, LLC (SCL or the Company), is a Delaware limited liability company formed on August 10, 2005 and a wholly owned subsidiary of Severstal Columbus Holdings, LLC (Holdings), a Delaware limited liability company. Holdings is a wholly owned subsidiary of Severstal US Holdings, LLC (SUSH), a wholly owned subsidiary of OAO Severstal (Severstal). The Company was formed to construct and operate a steel manufacturing plant (the Plant) producing hot rolled, cold rolled, and coated steel products for high value added steel sheet applications and with the capability to supply the exposed automotive sheet market. SCL sells and distributes its steel sheet products throughout the continental United States and Mexico. The Company continues to focus on product development and operational improvements. SCL’s Phase 2 expansion was substantially completed during 2011, which doubled its production capacity from 1.7 million net tons per year to 3.4 million net tons per year.

The financial statements include the accounts of SCL. Investments in business entities in which the Company does not have control but has the ability to exercise significant influence over the entity’s operating and financial policies are accounted for under the equity method.

(b)                                 Segment Information

SCL operates in one segment, the manufacture and sale of flat-rolled steel products. The Company’s business is conducted in North America with the exception of certain raw material and semi-finished steel procurement, which from time to time accesses global markets.

(c)                                  Cash and Cash Equivalents

The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents.

(d)                                 Revenue Recognition

Revenue from product sales is recognized when product shipment has occurred, the customer has taken title and assumed the risks of ownership, the price is fixed or determinable, and collectibility is reasonably assured. Provisions for returns and other adjustments are recorded in the period in which the revenue is recognized.

(e)                                  Financial Instruments

The carrying amount of the Company’s financial instruments, which include cash equivalents, accounts receivable, accounts payable, and short-term debt, approximates their fair value at December 31, 2013 and 2012. The carrying amounts for short-term and long-term revolving and affiliate debt approximate fair value because the debt’s interest rates vary with the market and, therefore, are adjusted frequently. SCL considers all highly liquid debt instruments purchased with an original maturity of three months or less to be cash equivalents.

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(f)                                    Significant Risk and Uncertainties

Industry

The steel industry is cyclical in nature and, within the United States, has been adversely affected in recent years by the volatility of steel imports, worldwide production overcapacity, increased domestic and international competition, high labor and energy costs, inefficient plants, and, at times, shortages of raw materials. As a result of these conditions, SCL pursues initiatives designed to improve the Company’s competitiveness, including cost and productivity improvements.

Environmental

The Company’s operations are subject to federal, state, and local laws, regulations, permits, and consent agreements relating to the protection of human health and the environment. Although the Company believes that its facilities are in material compliance with these provisions, from time to time the Company is subject to investigations by environmental agencies. In management’s opinion, such current investigations, in the aggregate, will not have a materially adverse effect on the Company’s financial position, results of operations, or cash flows.

Current Economic Conditions

The Company’s operations and principal markets for its products in the domestic automotive industry and their suppliers, service centers, and steel converters have been, and could be, adversely affected by near-term unfavorable general economic conditions. While general economic conditions have improved since the recession of 2008-2010, SCL and Holdings’ aforementioned initiatives continued throughout 2012-2013 and have at various times included selective reduction in melt and finishing operations, optimization of production schedules across related North American facilities, efforts to align the Company’s supply base more consistently with downscaled production requirements, and labor and overhead cost reduction actions.

(g)                                 Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk are accounts receivable. SCL limits its credit risk by performing ongoing credit evaluations and, when deemed necessary, by requiring letters of credit, guarantees, or collateral. The Company’s customers comprise manufacturers in the domestic automotive industry and their suppliers, service centers, and steel converters serving various market segments. Management believes that risk associated with the Company’s concentration of credit at December 31, 2013 is adequately addressed by existing controls. However, the ability of SCL’s debtors to honor their obligations to the Company is dependent upon economic developments in the automotive and other flat-rolled steel-consuming industries. General slowdowns in consumer spending caused by uncertainty about future market conditions have at times adversely impacted the profits and cash flows of the Company’s customers and may continue to do so. As such, it is reasonably possible that the financial condition of SCL’s customers may deteriorate in the near term. Inventory, accounts receivable, and revenue losses resulting from such deterioration may have a correspondingly adverse impact on the operations of the Company.

(h)                                 Trade Accounts Receivable

The Company reviews its allowance for doubtful accounts monthly. Balances over 90 days past due and over a specified amount are reviewed individually for collectibility. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company does not have any off-balance sheet credit exposure related to its customers.

At December 31, 2013 and 2012, SCL had accounts receivable of $17,605 from one customer and $11,726 from another customer, respectively. No other customer accounted for more than 10% of accounts receivable as of December 31, 2013 and 2012. There were no customers that accounted for more than 10% of revenues for the years ended December 31, 2013, 2012 and 2011.

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(i)                                    Inventories

The Company values its inventories at the lower of cost or market. Cost is determined using the average actual cost method for raw materials, semi finished, and finished goods, and the first-in, first-out (FIFO) method for nonproduction inventories and sundry. Costs in inventory include raw materials, labor, applied manufacturing overhead, and galvanized coating processes.

(j)                                    Property, Plant, and Equipment

Purchases of property, plant, and equipment are recorded at cost. Replacements and major improvements are capitalized, while planned or unplanned maintenance and repairs are expensed as incurred. Interest costs for debt incurred as a result of large long-term construction projects are capitalized as a component of construction in progress.

Depreciation on plant and equipment is calculated on the straight-line method over the estimated useful lives of the assets. The estimated useful life of buildings ranges from 30 to 35 years, land improvement is 20 years, steel-producing machinery and equipment is 20 years, furniture and fixtures is 10 years and office equipment ranges from 3 to 10 years. Property, plant and equipment held under capital leases are amortized using the straight-line method over the shorter of the lease term or the estimated useful lives of the leased assets. Expenditures for improvements are capitalized and depreciated over the expected useful lives. Expenditures for normal maintenance and repairs are charged to expense as incurred. Mill roll expenditures are capitalized as incurred and depreciated over their expected useful life of up to 3 years.

SCL has completed projects to upgrade and expand its steelmaking facilities. The Company’s expansion included an additional electric arc furnace, ladle metallurgy furnace, vacuum tank degasser, continuous caster and tunnel reheat furnace, as well as a push-pull pickle line and a second galvanizing line. The $560,000 expansion was completed in 2011, with the exception of the vacuum tank degasser, which was completed in 2012.

Environmental expenditures are capitalized if the costs mitigate or prevent future environmental contamination or if the costs improve existing assets’ environmental safety or efficiency. All other environmental expenditures are expensed as incurred.

(k)                                 Investment in Unconsolidated Affiliate

The Company accounts for its 20% investment in Mississippi Steel Processing (MSP), an unconsolidated affiliate, using the equity method. SCL does not have control but has the ability to exercise significant influence over the entity’s operating and financial policies.

(l)                                    Long-Lived Assets

Long-lived assets, such as property and equipment, purchased intangibles subject to amortization, and the investment in an unconsolidated subsidiary are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset or asset group to its estimated future cash flows or, where applicable, independent appraisal. If the carrying amount of an asset or asset group exceeds its estimated future cash flows, an impairment charge is recognized for the amount by which the carrying amount of the asset or asset group exceeds its fair value. Assets subject to disposition would be separately presented in the balance sheet and reported at lower of carrying amount or fair value less costs to sell, and no longer depreciated. The assets and liabilities of an asset group classified as held-for-sale would be presented separately in the appropriate asset and liability section of the balance sheet. No impairment charges were recorded during the years ended December 31, 2013, 2012 and 2011.

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(m)                              Income Taxes

The Company is considered a disregarded entity by SUSH for federal income tax purposes. As such, SCL is not directly subject to federal and most state income taxes and the Company’s operating results are included in the income tax filings of SUSH.

(n)                                 Use of Estimates

The preparation of the financial statements requires management of the Company to make a number of estimates and assumptions relating to the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant items subject to such estimates and assumptions include the carrying amount of property, plant, and equipment and the investment in an affiliate; valuation allowances for receivables and inventories; valuation of share-based payments; and obligations related to employee benefits. Actual results could differ from those estimates.

(o)                                 Deferred Credits

SCL received certain grants from governmental and other entities to reimburse the Company for property, plant, and equipment costs. The grants require the Company to meet certain conditions, including capital expenditure and employment targets, over a several-year period. SCL has recorded these grants, net of any related costs, as deferred income and will amortize the grant income as earned. In June 2009, the Company met the grant conditions and began amortizing the deferred income. These grants are being amortized on a straight-line basis over a 20-year period. Amortization during the years ended December 31, 2013, 2012 and 2011 approximated $1,447 each year. Amortization is included in costs in the accompanying statements of operations. The unamortized balances of $22,510 and $23,957 are included in deferred credits in the accompanying balance sheets at December 31, 2013 and 2012, respectively.

(p)                                 Commitments and Contingencies

Liabilities for loss contingencies, including environmental remediation costs, arising from claims, assessments, litigation, fines, and penalties and other sources, are recorded when it is probable that a liability has been incurred and the amount of the assessment and/or remediation can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred.

(q)                                 New Accounting Standards

There were no accounting pronouncements adopted or issued during 2013 that had, or are expected to have, a material impact on the Company’s results of operations or financial condition.

(r)                                  Reclassifications

Certain reclassifications have been made to the 2011 and 2012 financial statements to conform with the 2013 presentation.

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(2) Inventories

The major classes of inventories are as follows:

(3) Investment in Unconsolidated Affiliate

MSP is a flat-rolled steel slitting and cut-to-length operation. Costs associated with MSP’s processing of the Company’s products are reflected in costs and expenses. At December 31, 2013 and 2012, the Company’s share of the underlying net assets of MSP approximated its investment.

The tables below set forth summarized financial information for SCL’s unconsolidated affiliate:

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(4) Debt

Debt consisted of the following at December 31, 2013 and 2012:

Debt matures as follows:

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(a)                                 Revolving Credit Facilities

In November 2013, SCL executed a $335,000 credit agreement (Asset Based Revolver or ABR) with certain financial institutions with Bank of America as agent. The ABR replaced the credit agreement from Citicorp more fully described below. The ABR will expire in November 2018 and, under certain conditions, is subject to combination within a single agreement with another related party’s similar ABR agreement. The ABR is secured primarily by SCL’s accounts receivable and inventories and by a secondary interest in plant equipment. Borrowings under the ABR are limited to specified percentages of accounts receivable and inventories. The ABR has one financial covenant: a minimum fixed charge coverage ratio (FCCR) that is tested only when borrowing availability falls below a certain threshold. As of December 31, 2013, SCL was not required to test the FCCR as availability was above the threshold.

At December 31, 2013, eligible accounts receivables and inventories at SCL supported borrowing capacity under the Asset Based Revolver of $326,132, of which up to $278,940 could be borrowed after subtracting the amount of borrowings outstanding and the amount of letters of credit outstanding. Outstanding letters of credit at December 31, 2013 for SCL were $1,389. The ABR bears an unused-line fee of 0.325% per year. Interest on loans under the ABR is calculated by one of two methods: (i) the prime rate plus a per annum margin ranging from 0.5% to 1.0%, depending on average quarterly excess availability for the preceding quarter and (ii) LIBOR plus a per annum margin ranging from 1.5% to 2.0%, depending on average quarterly excess availability for the preceding quarter. In 2013, SCL paid and capitalized closing fees of $3,975. The capitalized closing fees are being amortized over 60 months, the duration of the ABR. The unamortized capitalized closing fee of $3,843 for SCL is included in deferred charges in the accompanying balance sheet at December 31, 2013.

In February 2010, SCL entered into a $150,000 revolving credit agreement with Citicorp (Citicorp Revolver) which was amended in July 2011 to increase the commitment to $350,000. Borrowings under the Citicorp Revolver were limited to specified percentages of SCL accounts receivable and inventories. The Citicorp Revolver bore interest at a rate of LIBOR plus 2.25% to 2.75% or Base Rate plus 1.25% to 1.75% based upon the available credit during the previous month. The Citicorp Revolver had a maturity date of July 2016. The agreement bore unused commitment fees at 0.375% to 0.500%, based upon the available credit during the previous month per annum. Unused commitment fees for the years ended December 31, 2012 and 2011 were $520 and $700, respectively. The Citicorp Revolver had two financial covenants: (i) a limit on capital expenditures and (ii) a minimum fixed charge coverage ratio that is tested only when available credit is below a certain threshold. In November 2013, SCL terminated the Citicorp Revolver and repaid all amounts outstanding.

In 2011 and 2012, SCL paid closing fees of $3,824 and was amortizing this amount over 60 months, the duration of the Second Amended and Restated Credit Agreement prior to the termination. Upon termination of the Second Amended and Restated Credit Agreement, the unamortized fees of $2,103 that would have been amortized in 2014 through 2016 were recognized in interest expense in the statement of operations in 2013.

(b)                                 Senior Bonds

In February 2010, SCL issued $525,000 of 10.25% bonds due February 2018. The bonds were issued with an original issue discount of 1.922%. The bondholders hold a first lien on SCL property, plant, and equipment. Interest is paid semiannually in February and August. Bond amortization of $1,142, $1,029 and $928 is included in interest expense in the accompanying statements of operations for the years ended December 2013, 2012 and 2011, respectively. In 2010, SCL paid and capitalized closing fees of $17,146. The capitalized closing fees are being amortized over 96 months, the term of the bonds. The unamortized capitalized closing fees of $8,930 and $11,074 are included in deferred charges in the accompanying balance sheets at December 31, 2013 and 2012.

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(c)                                  Subordinated Debt

In April 2008, SCL and Severstal Dearborn, LLC, a related company, executed a $130,000 subordinated loan agreement (the $130 Million Subordinated Loan). Loans under the $130 Million Subordinated Loan agreement had an expiration date of September 2014 that bore interest at an annual rate of 15%. Interest is paid in kind and has been included in the outstanding balance of the related loan. In February 2010, an amendment to the $130 Million Subordinated Loan agreement extended the expiration date to September 2018. In September 2012, the $130 Million Subordinate Loan was amended to reduce the interest rate from 15% to 8%.

In February 2010, SCL and SUSH executed a $388,000 subordinated loan agreement (the $388 Million Subordinated Loan). Loans under the $388 Million Subordinated Loan agreement have an expiration date of September 2018. Interest of 8% is paid in kind and has been included in the outstanding balance of the related loan.

In August 2010, SCL and OAO Severstal, a related company, executed a $100,000 subordinated loan agreement (the $100 Million Subordinated Loan). Loans under the $100 Million Subordinated Loan agreement had an expiration date of January 2017. Interest of 8% was paid in kind and was included in the outstanding balance of the related loan. In December 2011, the $100 Million Subordinated Loan was amended so that the interest was no longer paid in kind, but rather payable upon maturity of the loan. In August 2013, this loan was transferred to and assumed by SUSH. Accrued interest at the time of transfer was paid in kind and included in the outstanding balance of the loan transferred to SUSH.

(d)                                 Insurance Premium Financing

In 2013, SCL financed annual insurance premium of $222 with Premium Funding Associates, Inc. The financings carry an interest rate of 3.89% per annum payable in equal monthly installments through March 2014.

(e)                                  Capital Lease

SCL is obligated under various capital leases covering property and certain furniture, fixtures, and office equipment. At December 31, 2013 and 2012, the amount of property, plant, and equipment and related accumulated amortization recorded under capital leases were as follows:

Amortization of assets held under capital leases is included in depreciation expense.

(5) Income Taxes

The Company’s income tax expense consists of the following components:

The $479 of current tax expense recognized in 2013 represents state income taxes in a state that does not follow the federal treatment of disregarded entities. The Company is still subject to state examinations for open tax years in a jurisdiction that does not follow the federal treatment of disregarded entities, currently extending back until 2009.

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(6) Commitments and Contingencies

(a)                                 Contractual Purchase Commitments

The Company is obligated to make payments under contractual purchase commitments, including unconditional purchase obligations. Payments for contracts with remaining terms are summarized below:

Unconditional purchase obligations relate to the supply of raw materials, transportation services, and industrial gases with terms ranging from three to 22 years. Total payments relating to unconditional purchase obligations in 2013, 2012 and 2011 were approximately $28,751, $166,083 and $276,322, respectively.

(b)                                 Capital Commitments

At December 31, 2013, SCL’s commitments to acquire property, plant and equipment totaled approximately $9,179.

(c)                                  Lease Commitments

The Company has several noncancelable operating leases, primarily for equipment, that expire over the next eight years. These leases generally contain renewal options for periods ranging from one to five years, and require the Company to pay all executory costs, such as maintenance and insurance. Future minimum lease payments under noncancelable operating leases (with initial or remaining lease terms in excess of one year) as of December 31, 2013 are as follows:

Operating rent expense for the years ended December 31, 2013, 2012 and 2011 was $4,452, $2,974 and $2,942, respectively.

(d)                                 Legal Matters

The Company is party to legal actions and claims arising in the ordinary course of business. SCL believes, based upon information currently available, that such litigation and claims, both individually and in the aggregate, will be resolved without a material effect on its results of operations and its financial statements as a whole in the period of resolution. However, litigation involves an element of uncertainty, and future developments could cause these actions or claims to have a material adverse effect on SCL’s results of operations and its financial statements as a whole in the period of resolution.

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(7) Related-Party Transactions

The Company purchases certain raw materials, services, and semi-finished steel from related parties located in North America and Europe. The Company also sells certain services, raw materials, and semi-finished steel to the same related parties. Purchases and sales for years ended December 31, 2013, 2012 and 2011 and amounts payable and receivable for such transactions as of December 31, 2013 and 2012 are as follows:

During the years ended December 31, 2013, 2012 and 2011, the Company expensed $14,725, $16,851 and $7,413, respectively, of corporate management fees from a related party in selling and administrative expenses in the accompanying statements of operations.

During the years ended December 31, 2013, 2012 and 2011, the Company expensed $40,380, $36,205 and $15,670, respectively, of interest expense from related party debt in the accompanying statements of operations.

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(8) Fair Value Measurements

The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market.

The hierarchy that prioritizes the inputs to valuation techniques used to measure fair value is divided into three levels:

·                  Level 1—Unadjusted quoted prices in active markets for identical assets or liabilities

·                  Level 2—Unadjusted quoted prices in active markets for similar assets or liabilities; unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs other than quoted prices in active markets that are observable either directly or indirectly

·                  Level 3—Unobservable inputs for which there is little or no market data

The Company measures its financial assets and liabilities using one or more of the following three valuation techniques outlined in ASC Subtopic 820-10 Fair Value Measurements and Disclosures:

·                  Market approach—Prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities

·                  Cost approach—Amount that would be required to replace the service capacity of an asset (replacement cost)

·                  Income approach—Techniques to convert future amounts to a single present amount based upon market expectations

(a)                                 Items Measured at Fair Value on a Recurring Basis

A share-based payment award liability is included in the Company’s financial instruments. The liability related to the share-based payment awards is recorded at fair value based on an estimated price to settle the liability. At December 31, 2013 and 2012, the estimated fair value of this liability was $2,386 and $3,786, respectively (see note 9). The fair value of this liability was determined using Level 3 inputs and determined based on the estimated fair value of the Company based on a discounted cash flow model.

(b)                                 Financial Instruments Not Carried at Fair Value

The carrying value of the Company’s long-term debt excluding bonds approximates fair value based on interest rates that are believed to be available to the Company for debt with similar provisions provided for in the existing debt agreements.

SCL does not carry its fixed rate long-term bond debt at fair value. The carrying value as of December 31, 2013 and 2012 was $518,080 and $516,938, respectively. The estimated fair value as of December 31, 2013 and 2012 was $619,400 and $516,938, respectively. The fair value of the bonds was estimated using discounted cash flow models with market based borrowing rates for similar types of arrangements (Level 2).

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(9) Share-Based Payment Awards

In April 2008, SCL adopted a plan to provide for the grant of share based payment awards to certain key management and employees. The purpose of the plan is to align the interests of the participating employees with the interests of the Company, to motivate them to increase the value of the Company, and to retain them. The plan was effective as of January 1, 2008, and the value of the awards is based on a percentage of the fair value of the Company, which is determined on an annual basis. Participating employees were 100% vested in their awards at December 31, 2011. Distributions related to vested awards are payable in cash. Due to these awards being settled in cash, a liability has been recorded based on the estimated fair value to settle the awards. At December 31, 2013 and 2012, the Company has estimated this liability to be $2,386 and $3,786, respectively, and has recorded this amount in noncurrent other liabilities in the accompanying balance sheets. During 2013, 2012 and 2011, the Company recorded $894, $1,726 and $1,154 of income, respectively, in the accompanying statements of operations related to these awards. Distributions of vested awards were paid to former employees during 2010. As of December 31, 2013, approximately $3,817 in awards have been distributed.

(10) Subsequent Events

On March 12, 2014, SCL redeemed the Senior Bonds. The redemption amount, including fees and interest, was approximately $582,500. The bond redemption was funded by intercompany debt from SUSH bearing interest at a rate of 2% per annum that matures in June 2018.

The Company has evaluated subsequent events from the balance sheet date through April 11, 2014, the date at which the financial statements were available to be issued, and determined there were no other items to disclose.

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Independent Auditors’ Review Report

The Board of Directors

Severstal Columbus, LLC:

Report on the Financial Statements

We have reviewed the accompanying balance sheet as of June 30, 2014 of Severstal Columbus, LLC (the Company) and the related statements of operations and cash flows for the six month periods ended June 30, 2014 and 2013.

Management’s Responsibility

The Company’s management is responsible for the preparation and fair presentation of the interim financial information in accordance with U.S. generally accepted accounting principles; this responsibility includes the design, implementation, and maintenance of internal control sufficient to provide a reasonable basis for the preparation and fair presentation of interim financial information in accordance with U.S. generally accepted accounting principles.

Auditors’ Responsibility

Our responsibility is to conduct our reviews in accordance with auditing standards generally accepted in the United States of America applicable to reviews of interim financial information. A review of interim financial information consists principally of applying analytical procedures and making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with auditing standards generally accepted in the United States of America, the objective of which is the expression of an opinion regarding the financial information. Accordingly, we do not express such an opinion.

Conclusion

Based on our reviews, we are not aware of any material modifications that should be made to the financial information referred to above for it to be in accordance with U.S. generally accepted accounting principles.

Report on Balance Sheet as of December 31, 2013

We have previously audited, in accordance with auditing standards generally accepted in the United States of America, the balance sheet as of December 31, 2013, and the related statements of operations, member’s equity and cash flows for the year then ended (not presented herein); and we expressed an unmodified audit opinion on those audited financial statements in our report dated April 11, 2014. In our opinion, the accompanying balance sheet of Severstal Columbus, LLC as of December 31, 2013 is consistent, in all material respects, with the audited financial statements from which it has been derived.

Jackson, Mississippi

September 3, 2014

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SEVERSTAL COLUMBUS, LLC

Balance Sheets (Unaudited)

June 30, 2014 and December 31, 2013

(Amounts in thousands of U.S. dollars)

See accompanying notes to financial statements.

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SEVERSTAL COLUMBUS, LLC

Statements of Operations (Unaudited)

Six Months ended June 30, 2014 and 2013

(Amounts in thousands of U.S. dollars)