Nornickel announces production results for 4Q and FY2020

Moscow, 29 January, 2021 NornickelPublic Joint Stock Company "Mining and Metallurgical Company "Norilsk Nickel” and its subsidiariesGo to the glossary, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announces preliminary consolidated production results for the fourth quarter and the full year of 2020 and reiterates its production outlook for the full year 2021.

First Vice-President, Chief Operating Officer, Sergey Dyachenko commented on the production results,

“The CompanyPublic Joint Stock Company "Mining and Metallurgical Company "Norilsk Nickel"Go to the glossary fully met its 2020 production guidance despite some unprecedented environmental and epidemiological challenges.

Total nickel output came in line, while platinum group metals production exceeded the guidance owing mainly to productivity improvements and successful ramp-up of the refining shop at Kola MMCMining and Metallurgical CompanyGo to the glossary after its upgrade to a new chlorine leaching technology.

Copper output was also within the guidance driven by the scheduled ramp-up of Bystrinsky (Chita) project that reached its design capacity for all metals in 4Q 2020.

Nornickel has achieved a material progress in the clean-up of the fuel spill incident in Norilsk. By now we have completed the main phase of the clean-up. We continue developing the most effective approach for the rehabilitation of the contaminated soil and restoration of the damaged ecosystem in close cooperation with all stakeholders.

In the second half of the last year, a unique Great Norilsk Expedition, which was comprised of 30 scientists form 14 leading research institutes of the Siberian Branch of Russian Academy of Sciences, completed its fieldwork in the Norilsk region. Based on the results of the research, a report was published providing an independent assessment of the fuel spill impact on the local environment and recommendations for the most efficient rehabilitation of the disturbed area.

Reduction of the Company’s environmental impact remains our absolute strategic priority and we reiterate our commitment to radically improve the environmental situation in the regions of our operations.

In particular, in December 2020, smelting facilities of Kola MMCKola Mining and Metallurgical CompanyGo to the glossary located in the town of Nickel in Russia’s Murmansk region, were shut down as scheduled. As a result, sulphur dioxide emissions at the cross-border area with Norway have been completely eliminated, while overall sulphur dioxide emissions at Kola MMC were down by more than 50% in 2020 and should reduce by 85% in 2021 comparing to 2015 level.

Finally, I would like to highlight that Nornickel is making all necessary arrangements to protect the health and safety of its employees from the impact of COVID-19. The epidemiological situation at our operating sites remains well under control, with the epidemic not having any material impact on Company’s operations.

We reiterate our production guidance from own Russian feed for FY2021 as announced at the Capital Markets Day in December 2020”.

This announcement contains inside information in accordance with Article 7 of EU Regulation 596/2014 of 16 April 2014.

Full name and position of person making the announcement — Vladimir Zhukov, Vice — president, Investor Relations

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 GroupPublic Joint Stock Company "Mining and Metallurgical Company "Norilsk Nickel” and its subsidiariesGo to the glossary 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, 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 are traded over the counter in the US and on the London, Berlin and Frankfurt Stock Exchanges.