United RUSAL : UPDATE ON POSSIBLE SHARE TRANSFER BETWEEN SHAREHOLDERS OF THE COMPANY

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

UNITED COMPANY RUSAL PLC

(Incorporated under the laws of Jersey with limited liability)

(Stock Code: 486)

UPDATE ON POSSIBLE SHARE TRANSFER BETWEEN

SHAREHOLDERS OF THE COMPANY

Reference is made to the announcements of United Company RUSAL Plc (the "Company") dated 19 October 2017 and 28 January 2019 regarding a possible share transfer between shareholders of the Company (the "Announcements"). Unless otherwise specified, the terms used herein shall have the same meanings as those defined in the Announcements of the Company.

The Company announces that, on 3 February 2020, EN+ GROUP International public joint-stock company (formerly En+ Group Plc) ("En+") announced completion of the second stage of the securities exchange agreement with certain subsidiaries of Glencore plc. As a result, En+'s shareholding in the Company has increased to approximately 56.88% of the total issued share capital of the Company.

By Order of the Board of Directors of

United Company RUSAL Plc

Aby Wong Po Ying

Company Secretary

3 February 2020

As at the date of this announcement, the executive Directors are Mr. Evgenii Nikitin, Mr. Evgeny Kuryanov and Mr. Evgenii Vavilov, the non-executive Directors are Mr. Marco Musetti, Mr. Vyacheslav Solomin and Mr. Vladimir Kolmogorov and the independent non-executive Directors are Dr. Elsie Leung Oi-sie, Mr. Dmitry Vasiliev, Mr. Bernard Zonneveld (Chairman), Mr. Maxim Poletaev, Mr. Randolph N. Reynolds, Mr. Kevin Parker, Mr. Christopher Burnham and Mr. Nick Jordan.

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