En+ Group S Regulatory News (ENPL)

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FITCH ASSIGNS EN+ GROUP "BB-" RATING, OUTLOOK STABLE

11 December 2017 - En+ Group plc (LSE: ENPL; MOEX: ENPL) (the "Company", the "Group" or "En+ Group"), a leading international vertically integrated aluminium and power producer with core assets located in Russia, notes that Fitch Ratings Ltd (the "rating agency" or "Fitch") has assigned En+ Group a Long-Term Issuer Default Rating ("IDR") of "BB-" with a Stable Outlook and a Short-Term IDR of "B".

Fitch's rating of En+ Group represents the Energy segment only (as described in the Group's 9M2017 IFRS financial statements). The rating agency's rationale for not including UC Rusal plc ("RUSAL") in its rating is that it is owned by a number of strategic investors in addition to a free float.

On 19 October 2017 Fitch upgraded RUSAL's IDR to "BB-" with a Stable Outlook and a Short-Term IDR of "B".

Fitch emphasised that En+ Group is supported by the Energy segment's market-leading position in Russia (one of the largest power generation companies responsible for about 8% of total installed capacity of the country), its low-cost hydro power generation and vertical integration.

Andrey Yashchenko, CFO, En+ Group, commented: "This rating reflects the significant reduction in the Company's loan portfolio resulting from the recent initial public offering as well as our ongoing commitment to further deleveraging and optimising our debt portfolio. We are considering various options in order to diversify the Group's creditor base, extend maturity profile and lower our cost of financing."

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About En+ Group plc

En+ Group is a leading international vertically integrated aluminium and hydro power producer. The Company combines power plants with a total installed capacity of 19.7 GW (including 15.1 GW of hydro power assets), and 3.9 mtpa of annual aluminium production capacity (through a controlling stake in UC RUSAL plc, the world's largest aluminium producer outside of China in 2016) which is the major consumer of En+ Group's hydroelectricity.

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Copies of this announcement are not being made and may not be distributed or sent, directly or indirectly, into the United States (including its territories and possessions, any State of the United States and the District of Columbia), Canada, Australia, Japan, the Russian Federation or any other jurisdiction in which offers or sales would be prohibited by applicable law.

This announcement is not and does not form part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. En+ Group does not intend to register any portion of the offering of any securities referred to herein in the United States or to conduct a public offering of the securities in the United States.

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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.