NORNICKEL AND RUSSIAN PLATINUM KICK OFF JOINT OPERATIONS IN NORILSK

PRESS RELEASE

Public Joint Stock Company «Mining and Metallurgical Company «NORILSK NICKEL»

(PJSC "MMC "Norilsk Nickel", "Nornickel" or the "Company")

NORNICKEL AND RUSSIAN PLATINUM KICK OFF JOINT OPERATIONS IN NORILSK

Moscow, December 2, 2021 - Nornickel, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announces that the Group's entities have signed a number of service contracts with Chernogorskaya Mining Company, part of the Russian Platinum Group, to provide Chernogorskaya with power, transportation and logistics services.

The agreement is a follow-up to the operating partnership agreement in the Norilsk Industrial District between Nornickel and Russian Platinum signed in July 2020.

The service agreements are signed between Chernogorskaya and a number of Nornickel's infrastructure companies for five years until late 2026. The list of Nornickel's services includes the supply of electricity, gas, oil products, railway and river transport services, as well as transhipment of cargo at the ports of Dudinka, Krasnoyarsk, Lesosibirsk, Arkhangelsk and Murmansk.

Sergey Dubovitsky, Nornickel Senior Vice President Strategy, Strategic Projects, Logistics & Procurement commented: "Nornickel welcomes the partnership with Russian Platinum in the Norilsk Industrial District. The new contracts as a follow-up to our operating partnership agreement will allow us to deliver an ambitious new project in the region and strengthen Russia's position on the global markets of base and platinum group metals".

Yevgeny Vorobeichik, General Director of Russian Platinum commented: "We are pleased to note that our constructive cooperation with Nornickel has enabled us to secure the signing of a package of mutually beneficial long-term contractual instruments that create the necessary logistical conditions for the project to develop one of the world's largest copper and nickel ore deposits, Chernogorskoye. Russian Platinum is aimed at consistent implementation of the agreements reached with Norilsk Nickel and deepening bilateral cooperation to strengthen the domestic mining industry and to contribute to the socio-economic development of the Krasnoyarsk Region and the Russian Arctic".  

In addition, Chernogorskaya and Nornickel's Global Palladium Fund signed contracts for the supply of concentrates containing platinum group metals (PGMs) from the Chernogorskaya ore mining and concentrating plant for 5 years from the plant launch. The contracts provide for the supply of 960kt of nickel concentrate and 280kt of copper concentrate and an option for a 5-year extension.

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.

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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