Moscow, May 12, 2022

Nornickel, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper, notifies its American depositary receipt (ADR) holders that the Government Commission on Control of Foreign Investments in the Russian Federation (the Commission) has approved the Company’s request to maintain the circulation of its ADRs outside of the Russian Federation for a duration of one year (since the approval was granted) until April 28, 2023.

Nornickel has submitted a request to the Commission pursuant to the Federal Law No. 114-FZ “On Amendments to the Federal Law on Joint-Stock Companies and Certain Legislative Acts of the Russian Federation”, which came into effect on April 27th and requires the Russian issuers to terminate their depositary receipts programs, with the exceptions provided upon consideration of the issuers’ requests.

Nornickel welcomes the decision of the Commission as it provides time to assess available opportunities and investigation of necessary steps to support the Company’s long-term investment attractiveness.

Nornickel received permission to retain its depository receipts programme