NORNICKEL ANNOUNCES THE SALE OF STAKE IN THE BYSTRINSKY PROJECT

Moscow, July 21, 2016 - Highland Fund ('Investor'), a consortium established by prominent Chinese investment funds and corporations, made payment for a share in the joint venture set up together with the PJSC 'MMC 'Norilsk Nickel' (hereinafter Nornickel or the Company) to develop Bystrinsky project in compliance with the signed Agreement.

The payment has been made after the Russian Government Commission on Monitoring Foreign Investment had approved acquisition of stake in the project by the Investor.

Transaction proceeds will be used for project development purposes.

ABOUT THE COMPANY

Nornickel 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 Nornickel 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. Nornickel shares are listed on the Moscow and on the Saint-Petersburg Stock Exchanges. Nornickel ADRs trade over the counter in the US and on the London and Berlin Stock Exchanges.

Media Relations:                                                  Investor Relations:

Phone: +7 (495) 785 58 00                                  Phone: +7 (495) 786 83 20

Email: pr@nornik.ru                                             Email: ir@nornik.ru