United RUSAL : INSIDE INFORMATION CONSIDERATION BY THE BOARD OF CHANGE OF DOMICILE 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)

INSIDE INFORMATION CONSIDERATION BY THE BOARD OF CHANGE OF DOMICILE OF THE COMPANY

This announcement is made by United Company RUSAL Plc (the "Company") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

PROPOSED CHANGE OF DOMICILE OF THE COMPANY

At a meeting of the board of directors of the Company (the "Board") held on 16 August 2018, the Board carefully considered an opportunity for the Company to effect a potential change of domicile of the Company from Jersey to the Russian Federation (the "Redomiciliation") that arose from the introduction of new Russian laws regarding international companies and regarding special administrative regions that are both effective from 3 August 2018. The Board subsequently resolved that such Redomiciliation may be in the best interests of the Company and its shareholders as a whole and approved the initiation of the preparatory process for the Redomiciliation.

It is expected that any scheme for the purpose of effecting the Redomiciliation would involve, among other things, discussions and finalization of arrangements with, as well as the obtaining of approvals (where applicable) from, the relevant stock exchanges, clearing houses, regulators, registrars, creditors and other counterparties of the Company ("Approval Requirements"). Further, the impact of a possible Redomiciliation for shareholders, creditors and other stakeholders of the Company will be comprehensively reviewed. Redomiciliation will be subject to shareholders approval.

At the aforementioned Board meeting, the Board resolved that the management of the Company shall develop and present to the Board a detailed action plan for a possible Redomiciliation of the Company taking into account, among other things, compliance with applicable Approval Requirements.

The Company will keep the shareholders and the public informed of any material development by way of further announcement(s) and/or circular(s) as and when appropriate in accordance with its constitutional documents and the Listing Rules.

Shareholders should take note that the plan of Redomiciliation may or may not proceed and the Redomiciliation proposal is still under consideration of the Board. Shareholders and potential investors are advised to exercise caution when dealing in the securities 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

Hong Kong, 17 August 2018

As at the date of this announcement, the executive Directors are Mr. Evgenii Nikitin , Mr. Sergei Popov and Mr. Evgenii Vavilov, the non-executive Directors are Mr. Marco Musetti, Mr. Vyacheslav Solomin and Mr. Timur Valiev, and the independent non-executive Directors are Mr. Matthias Warnig (Chairman), Dr. Elsie Leung Oi-sie, Mr. Dmitry Vasiliev, Mr. Bernard Zonneveld, Mr. Philippe Bernard Henri Mailfait and Mr. Jean-Pierre Thomas.

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