United RUSAL : OVERSEAS REGULATORY ANNOUNCEMENT CIRCULAR IN RELATION TO THE PROPOSED COMPANY’S CONTINUANCE OUT OF JERSEY

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UNITED COMPANY RUSAL PLC

(Incorporated under the laws of Jersey with limited liability)

(Stock Code: 486)

OVERSEAS REGULATORY ANNOUNCEMENT

CIRCULAR IN RELATION TO THE

PROPOSED COMPANY'S CONTINUANCE OUT OF JERSEY

This announcement is made pursuant to Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

United Company RUSAL Plc (the "Company") announces that the attached announcement regarding the circular in relation to, amongst others, the proposed Company's continuance out of Jersey has been released in Russian to the Public Joint-Stock Company «Moscow Exchange MICEX-RTS» on which the Company is listed and on the website of the Company.

By Order of the Board of Directors of

United Company RUSAL Plc

Aby Wong Po Ying

Company Secretary

5 July 2019

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.

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The announcement on the substantial fact of the publication of the Circular on

1. 1. 1. PROPOSED COMPANY'S CONTINUANCE OUT OF JERSEY
      2. PROPOSED APPROVAL OF CHANGE OF PERSONAL LAW
      3. PROPOSED ADOPTION OF NEW CORPORATE CHARTER
      4. 1. 1. PROPOSED CHANGE OF COMPANY NAME
         2. PROPOSED APPROVAL OF GENERAL DIRECTOR
   2. PROPOSED APPROVAL OF TERMS OF APPLICATIONS TO RUSSIAN REGULATORY AUTHORITIES AND APPLICATION OF THE COMPANY TO THE JFSC PURSUANT TO ARTICLE 127T OF THE COMPANIES (JERSEY) LAW 1991
   3. 1. PROPOSED APPROVAL OF REGISTRAR
2. PROPOSED GENERAL AUTHORISATION OF THE BOARD OF DIRECTORS AND GENERAL DIRECTOR TO PERFORM ACTIONS NECESSARY FOR EFFECTING

COMPANY'S CONTINUANCE OUT OF JERSEY AND

NOTICE OF EXTRAORDINARY GENERAL MEETING ("EGM")

1. General information

1.1. Full name of the issuer	United Company RUSAL Plc
1.2. Short name of the issuer	-
	44 Esplanade, St. Helier, Jersey JE4
1.3. Location of the issuer	9WG
	Registration number of the legal entity
1.4. Issuer's PSRN	94939
1.5. The INN of the issuer	N/A
1.6. The unique code of the issuer
appropriated by registering body	N/A
1.7. The page address on the Internet
used by the issuer for disclosure of	http://rusal.ru/investors/info/moex/
information (in Russia)	http://e-disclosure.ru/portal/company.aspx?id=35101

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1. 2. Contents of the announcement

2. Category of securities of the foreign issuer: ordinary shares;
3. International code (number) of identification of securities (ISIN) of the foreign issuer: JE00B5BCW814;
4. The substantial fact, about which the disclosure is made: the publication of the Circular on
5. 1. proposed Company's continuance out of Jersey
   2. proposed approval of change of personal law
   3. proposed adoption of new corporate charter
   4. proposed change of Company name
   5. proposed approval of General Director
   6. proposed approval of terms of applications to Russian regulatory authorities and application of the Company to the JFSC pursuant to article 127t of the Companies (Jersey) law 1991
   7. proposed approval of registrar
   8. proposed general authorisation of the Board of Directors and General Director to perform actions necessary for effecting Company's continuance out of Jersey and notice of extraordinary general meeting ("EGM")
6. Date of publication of the text of the relevant document on the page on the Internet: "4" July 2019;
7. The page address on the Internet on which the text of the relevant document is published:http://rusal.ru/investors/info/moex/http://www.e-disclosure.ru/portal/company.aspx?id=35101
   Due to technical limitations, the full text of the Circular to the extraordinary general meeting cannot be given in the news feed, and is located at the above addresses.

3. Signature

3.1. Manager acting under the Power of attorney №РГМ-ДВ-18-0491 issued on August 17, 2018

(signature)

D. Sidarkevich

3.2. Date «4» July 2019

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