MNOD.L Regulatory News (MNOD)

PRESS RELEASE

October 28, 2019

Public Joint Stock Company "Mining and Metallurgical Company "NORILSK NICKEL" (PJSC "MMC "Norilsk Nickel", "Nornickel" or the "Company")Not for release, distribution or publication, directly or indirectly, into or in the United States, Canada, Australia, Japan or the Russian FederationPJSC MMC NORILSK NICKEL SUCCESSFULLY PLACES A USD 750 MILLION EUROBOND OFFERING MATURING IN OCTOBER 2024

Moscow - PJSC "MMC "Norilsk Nickel", the world's largest producer of palladium and high-grade metal nickel and a major producer of platinum and copper, announces today the closing of its USD 750 million Eurobond offering maturing in October 2024 with an annual coupon rate of 3.375%. The proceeds from the issue will be used for general corporate purposes.

The offering was anchored by high quality investors with international accounts from Asia, UK, Continental Europe and the US taking the major part of allocations. The transaction marks the successful return of Norilsk Nickel to the international debt markets, after its last issuance in 2017, with the lowest coupon ever achieved by Norilsk Nickel on a USD transaction.

Sergey Malyshev, the Company's Senior Vice-president and Chief Financial Officer, commented: "We are pleased to see that this bond issue revealed market confidence in Nornickel and its high credit quality. In particular we are glad that various major international investment funds who are not often seen in Russian bonds supported our issue".

Citigroup Global Markets Limited, J.P. Morgan Securities plc and Société Générale acted as Global Coordinators of the offering ("Global Coordinators"). Bank GPB International S.A., ING Bank N.V., London Branch, Sberbank CIB (UK) Limited, VTB Capital plc and the Global Coordinators acted as Managers ("Managers") of the offering. Debevoise & Plimpton LLP acted as Legal Advisor to the Company and Linklaters LLP acted as the Managers' Legal Advisor.

ABOUT THE COMPANY

PJSC «MMC «NORILSK NICKEL» is a diversified mining and metallurgical company, the world's largest producer of palladium and high-grade metal nickel and a major producer of platinum and copper. The company also produces cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium, sulphur and other products.

The production units of «NORILSK NICKEL» Group are located at the Norilsk Industrial District, on the Kola Peninsula and Chita region in Russia as well as in Finland and South Africa.

PJSC «MMC «NORILSK NICKEL» shares are listed on the Moscow and on the Saint-Petersburg Stock Exchanges. PJSC «MMC «NORILSK NICKEL» ADRs are traded over the counter in the US and on the London and Berlin Stock Exchanges.

Media Relations:     Investor Relations:

Phone: +7 (495) 785 58 00    Phone: +7 (495) 786 83 20

Email: pr@nornik.ru     Email: ir@nornik.ru

DISCLAIMER

The information contained herein is not for release, distribution or publication, directly or indirectly, into or in the United States (including its territories and possessions, any state of the United States and the District of Columbia), Canada, Australia or Japan. These written materials are not an offer to sell or a solicitation of an offer to buy securities (the "Notes") of MMC Finance Limited or PJSC "MMC "Norilsk Nickel" in the United States, Canada, Australia or Japan or in any other jurisdiction where such offer or sale would be unlawful.

The Notes have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act"), or with any securities regulatory authority of any state or other jurisdiction of the United States. Consequently, the Notes may not be offered, sold, resold, transferred, delivered or distributed, directly or indirectly, into or within the United States. No offering of the Notes is being made in the United States.

This document does not constitute an invitation or inducement to engage in investment activity within the meaning of the UK Financial Services and Markets Act 2000. This document is only being distributed to and is only directed at: (i) persons who are outside the United Kingdom; (ii) persons who are investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth entities and other persons to whom it may otherwise lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). The Notes to which this announcement relates are available only to, and any invitation or offer may be directed at, or any agreement to subscribe for, purchase or otherwise acquire, any securities will be engaged in only with, in the United Kingdom, relevant persons and, in any other jurisdiction, persons to whom it can lawfully be communicated and who may lawfully engage in such investment activity. Any person in the United Kingdom who is not a relevant person should not act or rely on this announcement or any of its contents.

This release is an advertisement and is not a prospectus for the purposes of Regulation (EU) 2017/1129 or any applicable implementing measures in the United Kingdom under such regulation. Investors should not subscribe for any notes referred to in this document except on the basis of information contained in the prospectus. The prospectus, when published, will be available at https://www.ise.ie/products-services/quoted-companies/. This document or information contained herein is not an offer, or an invitation to make offers, to sell, exchange or otherwise transfer securities in the Russian Federation to or for the benefit of any Russian person or entity and does not constitute an advertisement or offering of securities in the Russian Federation within the meaning of Russian securities laws. Information contained in this document is not intended for any persons in the Russian Federation who are not "qualified investors" within the meaning of Article 51.2 of the Federal Law no. 39-FZ "On the Securities Market" dated 22 April 1996, as amended (the "Russian QIs") and must not be distributed or circulated into Russia or made available in Russia to any persons who are not Russian QIs, unless and to the extent they are otherwise permitted to access such information under Russian law. Any securities referred to in this document have not been and will not be registered in Russia and are not intended for "placement", "circulation", "offering" or "advertising" in Russia (each as defined in Russian securities laws) unless and to the extent otherwise permitted under Russian law.

The distribution of this document in other jurisdictions may be restricted by law and any person into whose possession this document comes should inform themselves about, and observe, any such restrictions.