Norilsk Nickel Management Board discussed interim dividends

Moscow, October 22, 2014 - Management Board of MMCMining and Metallurgical CompanyPublic Joint Stock Company "Mining and Metallurgical Company "Norilsk Nickel"Go to the glossaryGo to the glossary Norilsk Nickel ("Company" or "Norilsk Nickel") has considered reasonable the allocation up to USD 2.78 bn in cash for interim dividends.

On October 31, the Company’s Board of Directors will consider calling an Extraordinary General Meeting of Shareholders to approve interim dividends for 9 months of 2014.

The Management Board’s proposal stems from the Company’s robust financial position and its successful execution on strategy, which has resulted in increased free cash flow generation driven by cost savings, release of working capital and disposals of non-core assets (including the African assets). The Company remains fully committed to all of its social and environmental obligations as well as to its capital investments programme as planned, while planning no significant increase in financial leverage.

CEO of Norilsk Nickel Vladimir Potanin said, “The latest positive changes at Norilsk Nickel allow us to accelerate dividend payments, which should improve our shareholders value proposition, level out the peak of dividend payments due in 2016 and give a tangible feeling to the investment community of the financial efficiency gains delivered this year. I am convinced that the payment of interim dividends will send a positive signal to the stock market and should support investors’ confidence in Russia's economy”.

PJSC “MMC “NORILSK NICKEL” is a diversified mining and metallurgical company, the world’s largest producer of refined nickel and palladium and a leading producer of platinum, cobalt, copper and rhodium. The company also produces gold, silver, iridium, selenium, ruthenium and tellurium.

The production units of “NORILSK NICKEL” GroupPublic Joint Stock Company "Mining and Metallurgical Company "Norilsk Nickel” and its subsidiariesGo to the glossary include Polar Division, located at the Norilsk Industrial District on Taimyr Peninsula, and Kola Mining and Metallurgical Company located on the Kola Peninsula in Russia as well as Harjavalta nickel refinery in Finland.

PJSC “MMC “NORILSK NICKEL” shares are listed on the Moscow and on the Saint-Petersburg Stock Exchanges. PJSC “MMC “NORILSK NICKEL” ADRAmerican Depositary Receipt; a security representing partial ownership in deposited securities of a foreign company certified by receipts issued by a US depositary bankGo to the glossarys trade over the counter in the US and on the London and Berlin Stock Exchanges.