United RUSAL : UPDATE TO THE PROPOSED CONTINUANCE OUT OF JERSEY OF THE COMPANY

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UNITED COMPANY RUSAL PLC

(Incorporated under the laws of Jersey with limited liability)

(Stock Code: 486)

UPDATE TO THE PROPOSED

CONTINUANCE OUT OF JERSEY OF THE COMPANY

Reference is made to the circular of United Company RUSAL Plc (the "Company") dated 5 July 2019 (the "Circular"), the poll results announcement of the Company dated 2 August 2019 and the announcement of the Company dated 21 July 2020 (the "Announcement"). Unless otherwise specified, capitalised terms in this announcement shall have the same meanings as the defined terms in the Circular or in the Announcement.

EXPECTED REGISTRATION DATE

The Company would like to inform Shareholders that the expected effective date of state registration of the Company as an International Company in Russia is now expected by the end of September 2020. All other expected dates that were disclosed on page 2 of the Announcement are delayed respectively.

Expected deadlines specified in this announcement or earlier depend on the timing of relevant regulatory approvals, and are for indicative purposes only, and may be extended or varied. The Company will make further announcements in respect of any change to the expected date of registration in Russia and all contiguous dates.

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WARNING

Shareholders should take note that the Company's Continuance Out Of Jersey may or may not proceed. Shareholders and potential investors are advised to exercise caution when dealing in the Shares of the Company, and if they are in any doubt about their position, they should consult their professional advisers.

By Order of the Board of Directors of

United Company RUSAL Plc

Aby Wong Po Ying

Company Secretary

18 August 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), Dr. Evgeny Shvarts, 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.

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