Nornickel : announces consolidated production results for 1Q 2025

Moscow, 21 April 2025 - Nornickel, the world's largest producer of palladium and a major producer of Class I nickel, platinum and copper, announces preliminary consolidated production results for the first quarter of 2025.

Senior Vice-President - Operating Director, Alexander Popov commented on the production results,

"In 1Q 2025, platinum production increased, whereas the output of other metals was slightly lower than a year ago.

The modest decline of nickel production was temporary and due to scheduled short-term repairs and maintenance of equipment, aiming to support steady operation of main technological units.

Total copper production remained almost unchanged against the previous year, while the Trans-Baikal Division increased its copper output on the back of the improved operating efficiency.

The ramp-up of the Sulfur Program at the Nadezhda Metallurgical Plant in Norilsk continued. The program is the key initiative within the federal Clean Air project. Currently, the first and second technological lines have been successfully launched into comprehensive testing mode, resulting in the sulfur dioxide emissions set for 2024 have been successfully met. The Sulfur Program at full capacity is scheduled to drive down the sulfur dioxide emissions in the Norilsk industrial region by 2 times and thus drastically improve the air quality for the local residents. The progress so far was duly noted by the government agencies during their control and supervisory inspection of the Polar Division.

The Company reiterates its previously announced production guidance from own Russian feed for FY2025.