PRESS RELEASE

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

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

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

NORNICKEL'S BOARD OF DIRECTORS APPROVES REPORT ON RESULTS OF SHAREHOLDER APPLICATIONS TO SELL SHARES IN BUYBACK

Moscow, June 23, 2021 - Nornickel (or the "Company"), the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announces that the Board of Directors of Nornickel approved a report on the results of shareholder applications to sell shares in the buyback announced earlier this year.

According to the terms of the buyback, the Company has committed to purchase up to 5,382,865 of its shares (the "Maximum Number of Shares") pursuant to Article 72.2 of the Russian Joint Stock Companies Law. The purchase price is RUB 27,780 per one share.

The total number of shares tendered for sale by shareholders amounted to 64,204,134 (Sixty-four million two hundred and four thousand one hundred thirty-four) and exceeded the Maximum Number of Shares that Nornickel may purchase in accordance with the terms of the buyback. Therefore, the shares will be acquired from the participating shareholders pro rata to their applications.

To calculate the pro rata ratio, the number of shares that Nornickel may purchase in accordance with the terms of the buyback is divided by the total number of shares tendered to Nornickel in shareholder applications submitted during the application period. Therefore, the pro rata ratio is: 0.08383985056 (5,382,865 shares/ 64,204,134 shares).

The number of shares that will be acquired by Nornickel from a shareholder is calculated using the following formula: X=Y*Z, where:

• X is the number of Shares to be purchased by Nornickel from the shareholder on a pro rata basis;
• Y is the number of Shares specified by the shareholder in its application to sell Shares to MMC Norilsk Nickel;
• Z is the pro rata ratio.

If the resulting number of shares to be purchased is a fractional number, it will be rounded down to the nearest whole number. Should the resulting number be less than one, no share will be purchased. Payment for the purchased shares is expected to be made by July 3, 2021.

ABOUT THE COMPANY

PJSC "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 and South Africa.

PJSC "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.

STATEMENT REGARDING INSIDE INFORMATION

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

IMPORTANT NOTICE

THIS PRESS RELEASE IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION.

THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR ADVERTISEMENT OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF ANY OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SHARES OR OTHER SECURITIES OF THE COMPANY, NOR SHALL ANY PART OF IT NOR THE FACT OF ITS DISTRIBUTIONS FORM PART OR BE RELIED ON IN CONNECTION WITH ANY CONTRACT OR INVESTMENT DECISION RELATING THERETO, NOR DOES IT CONSTITUTE A RECOMMENDATION REGARDING SHARES OR SECURITIES OF THE COMPANY. ANY SUCH OFFER OR SOLICITATION IS MADE ONLY BY MEANS OF THE BUYBACK NOTICE.

Media Relations:     Investor Relations:

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

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