Moscow, 28 July 2022 - Nornickel, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announces preliminary consolidated production results for the second quarter and the first half of 2022 and production outlook for the full year 2022.

Senior Vice-President - Operational Director, Sergey Stepanov commented on the 1H2022 production results:

"In 1H2022, we increased the output of all key metals compared to the same period last year. The company successfully passed the inter-navigation season owing to duly accumulated stocks of raw materials.

We continued to implement the modernization program at Norilsk Concentrator in order to improve the reliability and safety of operations and to stabilize the processing of raw materials to ensure reaching its design capacity. In the second quarter, Norilsk Nickel Harjavalta carried out an annual scheduled repair of equipment and in June the enterprise has fully resumed its operations.

One of the key risks that might affect our production plans remain the supply disruption of high-performance equipment and spare parts. To manage these risks Nornickel held First Arctic Region's import substitution forum. During the two-day event we explored capabilities of domestic business to meet the needs of Norilsk Nickel and Russia's other largest companies for materials and equipment.

About 200 forum attendees from more than 100 largest industrial companies from Russia, Kazakhstan and Belarus, as well as federal, regional and municipal government representatives visited Norilsk during the forum.

Taking into account the ongoing measures to minimize the negative implications from the geopolitical situation, we reiterate previously announced production guidance from own Russian feed for FY2022".

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OJSC MMC Norilsk Nickel published this content on 28 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2022 10:09:34 UTC.