En+ Group S Regulatory News (ENPL)

EN+ GROUP COMMENTS ON THE OFAC DESIGNATION/ GENERAL LICENSES/ GDR PROGRAMME/ DIRECTOR RESIGNATION

09 April 2018 - EN+ GROUP PLC (the "Company", "the Group" or "En+ Group") (LSE: ENPL; MOEX: ENPL) announces that:

1. On 6 April 2018, the Office of Foreign Assets Control ("OFAC") of the Department of the Treasury of the United States of America ("US Treasury") designated certain legal and natural persons to its Specially Designated Nationals List (the "OFAC Sanctions"). These include the Company, UC Rusal, Eurosibenergo and Mr Oleg Deripaska, a non-executive director of the Company and its ultimate controlling shareholder, and two of the Company's direct major shareholders, Basic Element Limited and B-Finance Ltd.

2. The US Treasury's press release of 6 April 2018 (the "US Treasury Release") states that: "OFAC's actions were carried out pursuant to authority provided under Executive Order (E.O.) 13661 and E.O. 13662, authorities codified by the Countering America's Adversaries Through Sanctions Act (CAATSA), as well as E.O. 13582. These actions follow the Department of the Treasury's issuance of the CAATSA Section 241 report in late January 2018."

3. The US Treasury Release further states that: "All assets subject to U.S. jurisdiction of the designated individuals and entities, and of any other entities blocked by operation of law as a result of their ownership by a sanctioned party, are frozen, and U.S. persons are generally prohibited from dealings with them. Additionally, non-U.S. persons could face sanctions for knowingly facilitating significant transactions for or on behalf of the individuals or entities blocked today."

4. The full text of the US Treasury Release can be read at https://home.treasury.gov/news/press-releases/sm0338.

5. In addition, OFAC issued two general licenses in connection with these designations authorising U.S. persons to engage in certain limited activities and transactions involving the Company for a specified period of time. One of the licenses authorises, subject to certain limitations and exclusions, U.S. persons to engage in transactions and activities ordinarily incident and necessary to the maintenance or wind down of operations, contracts, or other agreements (including the importation of goods, services, or technology onto the US) involving the Company (the "License 12") https://www.treasury.gov/resource-center/sanctions/Programs/Documents/ukraine_gl12.pdf.

The other license authorises, with certain limitations and exclusions, U.S. persons to engage in transactions and activities ordinarily incident and necessary to divest or transfer to a non-U.S. person, or to facilitate the transfer by a non-U.S. person to another non-U.S. person, of debt, equity, or other holdings in the Company and UC Rusal ("Licence 13") https://www.treasury.gov/resource-center/sanctions/Programs/Documents/ukraine_gl13.pdf.

6. Whilst further evaluation is being carried out by the Company to assess the impact of the OFAC Sanctions on the Group, the Company's initial assessment is that it is highly likely that the impact may be materially adverse to the business and prospects of the Group. The Company's primary focus remains on the maintenance of its operations and the protection of the interests of all of its investors, GDR holders and partners. The Company will continue to seek to ensure it abides by all applicable laws and regulations.

The Company intends to continue to fulfill its existing commitments whilst seeking solutions (which may involve adjustments to its existing agreements and arrangements in accordance with legal and regulatory requirements) to address the impact of the OFAC Sanctions.

7. The Company was informed by late evening on Friday, 6 April 2018, that Citi Depositary Receipt Services closed the books of the En+ Group plc 144A (CUSIP 29355E109) and Reg S (CUSIP 29355E208) sponsored GDR programs with immediate effect. The Company is currently analyzing the situation with its legal advisors.

8. The Company's independent director, Mr Dominique Fraisse resigned from the Board of Directors effective 6 April, 2018.

9. There may be a delay in the despatch of the Company's annual report for the year ended 31 December 2017.

10. The Company will work to protect the interests of its investors and GDR holders by all legal means and is considering all options, including seeking additional authorizations from OFAC.

11. The Company will make further announcement(s) as soon as possible following further evaluation of the situation. GDR holders and investors are advised to exercise extreme caution when dealing in the securities of the Company.

***

For further information, please visit http://enplus.ru or contact:

***

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.