En+ Group S Regulatory News (ENPL)

BOARD MEETING CALLED TO CONSIDER UPDATESTO 1H AND 2Q 2019 FINANCIAL RESULTS

22 August 2019 - EN+ GROUP IPJSC (the "Company", "En+ Group" or the "Group") today announces that it has called a board meeting to consider certain updates to its consolidated interim condensed financial information as at and for the three and six month periods ended 30 June 2019, announced on 16 August 2019 (the "Interim Results").

The Company informs its shareholders and potential investors that, based on a preliminary review by the Company's management of the 2019 interim consolidated IFRS financial results of PJSC MMC Norilsk Nickel ("Norilsk Nickel") which were published on Norilsk Nickel's website on 20 August 2019, the management of the Company is of the preliminary view that such financial results may have a material positive impact on the Company's Interim Results.

In the Interim Results it was stated in the Independent Auditors' Report that the Company was unable to obtain consolidated interim condensed financial information of Norilsk Nickel as at and for the six months ended 30 June 2019 and accordingly had estimated its share of profit, other comprehensive income, foreign currency translation gain and the carrying value of the Group's investment in Norilsk Nickel based on publicly available information. As a result, the Company's auditor, JSC KPMG, gave a qualified conclusion in its Independent Auditors' Report on review of the Interim Results.

The Company has called a board meeting to take place on 23 August 2019 to consider the matter and once the Company has updated its Interim Results and JSC KPMG have performed the relevant review procedures with respect to Norilsk Nickel's published financial statements, the Company will make a further announcement which, if required, may contain the Company's updated consolidated interim condensed financial information as at and for the three and six months ended 30 June 2019.

The information contained in this announcement is only based on the information currently available to the Company and the preliminary assessment by the Company's management with reference to Norilsk Nickel's published financial statements. Such information has not been finalised, audited or reviewed by the Company's auditors, and has not been reviewed or approved by the audit and risk committee of the board of directors of the Company.

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About EN+ GROUP IPJSC

En+ Group is a leading international vertically integrated aluminium and hydropower producer. The Company combines power plants with a total installed capacity of 19.5 GW (including 15.1 GW of hydro power assets), and 3.9 Mt of annual aluminium production capacity (through a controlling stake in UC RUSAL plc, the world's largest aluminium producer outside of China in 2018) which is the major consumer of En+ Group's hydroelectricity.

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The information presented in this announcement only reflects the position of the Company during the review period from 1 January to 30 June 2019, unless otherwise specified.

This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Group's business, results of operations, financial position, liquidity, prospects, growth or strategies. Forward-looking statements speak only as of the date they are made.