NORNICKEL'S BOARD HAS DISCUSSED THE CLEAN-UP OPERATION AT CHPP-3

PRESS RELEASE

Public Joint Stock Company «Mining and Metallurgical Company «NORILSK NICKEL» (PJSC "MMC "Norilsk Nickel", "Nornickel" or the "Company")

Nornickel's Board has discussed the clean-up operation at CHPP-3

Moscow, July 29, 2020 - The Board of Nornickel met yesterday to discuss various matters relating to the oil spill and other environmental issues.

The Board commended management on the substantial progress that has been made in cleaning up the spill. It was updated on the work being done in the Environmental Task Team and the utilisation of ERM to undertake an independent assessment of the spill and related matters.

The Board also discussed the recent management changes to improve the focus on and culture towards environmental affairs. Further measures to strengthen the team are planned shortly. The Board commended the introduction of environmental KPI's for Nornickel staff and the leadership of the new risk committee by the company's President, Vladimir Potanin.

On the question of Nornickel head office, it was noted that the management board is and would continue to spend substantial amounts of time in Norilsk, and Norilsk would be considered the «centre of gravity» until its environmental affairs could be regarded as world class.

Mr Maksim Poletaev, Senior Rusal representative on the Nornickel Board, noted that the issues he and Rusal had raised are being taken seriously by management and that positive progress is being made.

Chairman of the Board, Gareth Penny, commented: «We have seen significant progress on our journey to transform environmental practises at Nornickel. We will continue to devote all efforts to address these challenges in a transparent and effective way».

ABOUT THE COMPANY

MMC Norilsk Nickel is a diversified mining and metallurgical company, the world's largest producer of palladium and high-grade 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 Zabaykalsky Krai in Russia as well as in Finland and South Africa.

MMC Norilsk Nickel shares are listed on the Moscow and on the Saint-Petersburg Stock Exchanges, ADRs are traded over the counter in the US and on the London, Berlin and Frankfurt Stock Exchanges.             

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