Mining and Metallurgical Norilsk Nickel : Nornickel to expand refinery in Finland

Moscow, April 13, 2021 - NornickelPublic Joint Stock Company 'Mining and Metallurgical Company 'Norilsk Nickel' and its subsidiariesGo to the glossary, the world's largest producer of palladium and high-grade nickel and a major producer of platinum, cobalt and copper, announces plans to ramp up output at its state-of-the-art nickel refinery in Finland. Nornickel Harjavalta is mainly powered by renewable energy and is a world-class specialist in the hydrometallurgical production of high purity nickel with the most extensive nickel product portfolio in Europe.

The plan to increase capacity is driven by growing European market demand for battery raw materials responsibly produced with one of the lowest carbon footprint in the industry.

This move by Nornickel is in line with the GroupPublic Joint Stock Company 'Mining and Metallurgical Company 'Norilsk Nickel' and its subsidiariesGo to the glossary's strategy to ensure a global shift to a greener economy while being green itself.

Joni Hautojärvi, Managing Director at Nornickel Harjavalta commented: 'This expansion will further strengthen Harjavalta refinery's position as one of the most sustainable producers of nickel and cobalt metals to the EV battery industry. Our unique product portfolio combined with EV battery metals recycling development enables NN Harjavalta to be the leading European supplier of the critical metals to the growing battery sector in Europe'.

Nickel output at NN Harjavalta during the first phase of the expansion will increase from the current 65 ktpa to 75 ktpa in 2023 and during the second phase to over 100 ktpa by early 2026.

The factory meets the most stringent EU sustainability requirements and recycles over 90% of its waste delivering to the market products with one of the lowest carbon footprint in the industry.

NN Harjavalta produces nickel in cathodes, briquettes, crystallized salts and solution, cobalt in crystallized sulphate and in solution. The production process is based on sulphuric acid leaching of nickel semi-products, a modern, high-tech approach that enables over 98% extraction rate and is a perfect fit for the production of battery grade nickel and cobalt.

NN Harjavalta monitors its environmental footprint rigorously, and has been an active participant in the studies of the Finnish Forest Research Institute (Metla) for several decades.

Nornickel is a member of the European Battery Alliance and Responsible Sourcing Blockchain Network.

Discover more about NN Harjavalta and its responsible approach to production at https://www.nornickel.fi

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This announcement contains inside information in accordance with Article 7 of EU Regulation 596/2014 of 16 April 2014.

Full name and position of person making the announcement - Vladimir Zhukov, Vice - president, Investor Relations.

ABOUT THE COMPANY
MMCMining and Metallurgical CompanyGo to the glossaryNorilsk Nickel is a diversified mining and metallurgical company, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper. The company also produces cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium, sulphur and other products.

The production units of Norilsk Nickel Group are located at the Norilsk Industrial District, on the Kola Peninsula and Zabaykalsky Krai in Russia as well as in Finland and South Africa.

MMC Norilsk Nickel shares are listed on the Moscow and on the Saint-Petersburg Stock Exchanges, ADRAmerican Depositary Receipt; a security representing partial ownership in deposited securities of a foreign company certified by receipts issued by a US depositary bankGo to the glossarys are traded over the counter in the US and on the London, Berlin and Frankfurt Stock Exchanges.

13 April 2021

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