Mining and Metallurgical Norilsk Nickel : Norilsk nickel completed the relocation of Bystra to Russia

JSC Holding Company BYSTRA became the new holding company of Bystrinsky GOK.

The Cypriot company GRK EASTERN GEOLOGY LIMITED, which is in the process of liquidation, was excluded from its ownership structure. Its shareholders received shares of Holding Company BYSTRA in proportion to their stakes in the authorised capital, thus the distribution of shares among the shareholders of Bystra remained unchanged: Nornickel - 50.01%, Interros - 36.66% and United Resources Limited (a structure of the HOPU Investments fund) - 13.33%.

Vladimir Potanin, President of Nornickel, commented: "Bystra is one of Nornickel's most modern businesses. The move to the Russian jurisdiction will allow our Zabaikalsky asset not only to protect the interests of all shareholders, but also to maintain high standards of corporate governance and invest in the domestic economy, including the Far East regions".

The exclusion of the Cypriot company from the ownership structure of Bystrinsky GOK was made possible by an order of the President of the Russian Federation signed on 13 June 2023.

BACKGROUND INFORMATION

The Bystrinsky Mining and Processing Plant mines and processes

ore

from the Bystrinsky polymetallic deposit using open pit mining methods and produces copper, iron ore and gold concentrates. It is a state-of-the-art production facility that utilises the latest equipment and employs advanced technologies. Bystrinsky prioritises constructive industrial policy, production efficiency and safety, and addressing environmental issues.