Regulatory News:

United Company RUSAL Plc (Paris:RUSAL) (Paris:RUAL):

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UNITED COMPANY RUSAL PLC
(Incorporated under the laws of Jersey with limited liability)
(Stock Code: 486)

UPDATE ON THE CLAIM
IN CONNECTION WITH ALSCON

Reference is made to page 68 of the 2017 Interim Report of United Company RUSAL Plc (the “Company”) dated 25 August 2017 (the “Interim Report”) in relation to a writ of summons and statement of claim filed in the High Court of Justice of the Federal Capital Territory of Nigeria (Abuja) by plaintiff BFI Group Corporation (“BFIG”) received by the Company in January 2013 against certain subsidiaries of the Company. It is a claim for damages arising out of the defendants’ alleged tortious interference in the bid process for the sale by the Bureau of Public Enterprises (“BPE”) of the Nigerian Government’s majority stake in the Aluminium Smelter Company of Nigeria Plc (“Alscon”) and alleged loss of BFIG’s earnings resulting from its failed bid for the said stake in Alscon.

The Company announces that it has agreed to settle the situation regarding the ownership of Alscon, as well as the above action out-of-court amongst the Company’s subsidiaries and the Nigerian Government, including but not limited to BPE, by entering into an addendum to the original sale and purchase contract regarding Alscon (the “Contract”) on the following key terms and conditions (the “Addendum”):

(i) The term of indemnity clause stipulated by the Contract shall be extended for another 12 years.

(ii) BPE acknowledges that Dayson Holding Ltd (member of the Group) commenced proceedings in the courts of Nigeria in relation to the enforcement of the arbitral award of the London Court of International Arbitration dated 15 October 2014 in case No. 122176 (“LCIA Award”) and BPE undertakes not to challenge such enforcement.

(iii) Dayson shall stay the arbitration under the indemnity provision of the Contract (“Indemnity Arbitration”) within fourteen (14) calendar days after signing of the Addendum.

(iv) Dayson shall cease from pursuing the Indemnity Arbitration, if and when:

(a) the LCIA Award is enforced in the Nigerian court of first instance in a valid and procedurally conform judgment (the “Judgment”) by March 31, 2018; and

(b) nobody files a notice of motion for leave to appeal the Judgment within 6 (six) months after the date of the Judgment delivery.

(v) In the event that any action is brought at any time before any forum challenging the Judgment (for any reason whatsoever), Dayson shall be entitled to pursue the Indemnity Arbitration or, if the Indemnity Arbitration has terminated, to commence an arbitration to the same effect as the Indemnity Arbitration.

(vi) If by March 31, 2018 the Judgment is not delivered, OR by a date, which is six months after the Judgment is delivered, a notice of motion for leave to appeal the Judgment is filed, Dayson shall be entitled to resume the Indemnity Arbitration.

By Order of the Board of Directors of
United Company RUSAL Plc
Aby Wong Po Ying
Company Secretary

19 January 2018

As at the date of this announcement, the executive Directors are Mr. Oleg Deripaska, Mr. Vladislav Soloviev and Mr. Siegfried Wolf, the non-executive Directors are Mr. Maxim Sokov, Mr. Dmitry Afanasiev, Mr. Ivan Glasenberg, Mr. Maksim Goldman, Ms. Gulzhan Moldazhanova, Mr. Daniel Lesin Wolfe, Ms. Olga Mashkovskaya, Ms. Ekaterina Nikitina and Mr. Marco Musetti, and the independent non-executive Directors are Mr. Matthias Warnig (Chairman), Mr. Philip Lader, Dr. Elsie Leung Oi-sie, Mr. Mark Garber, Mr. Dmitry Vasiliev and Mr. Bernard Zonneveld.

All announcements and press releases published by the Company are available on its website under the links http://www.rusal.ru/en/investors/info.aspx,http://rusal.ru/investors/info/moex/ and http://www.rusal.ru/en/press-center/press-releases.aspx, respectively.