United RUSAL : APPROVAL OF REGULATIONS OF THE INTERNAL AUDIT COMMITTEE OF THE COMPANY AND ELECTION OF THE INTERNAL AUDIT COMMITTEE OF THE COMPANY

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UNITED COMPANY RUSAL, INTERNATIONAL

PUBLIC JOINT-STOCK COMPANY

(Incorporated under the laws of Jersey with limited liability and continued in the

Russian Federation as an international company)

(Stock Code: 486)

APPROVAL OF REGULATIONS OF THE INTERNAL

AUDIT COMMITTEE OF THE COMPANY AND ELECTION OF THE INTERNAL AUDIT COMMITTEE

OF THE COMPANY

Reference is made to the announcements of the Company dated 25 February 2021 and 3 March 2021.

The Company announces that an EGM will be held on 7 April 2021 at 11:00 a.m. Moscow time (4:00 p.m. Hong Kong time) at Novotel Moscow City, Presnenskaya nab., 2, Moscow, Russian Federation and by a live broadcast to the Shareholders through an online portal. The EGM will be convened to consider and, if thought fit, to pass the resolutions to approve the Regulations and election of the Internal Audit Committee.

REGULATIONS OF THE INTERNAL AUDIT COMMITTEE

According to article 30.2 of the Charter, the operating procedures for the Internal Audit Committee shall be established by the regulations on the Internal Audit Committee approved by the general meeting of Shareholders. Article 30 of the Charter sets out the general requirements to the Internal Audit Committee that are reflected in the Regulations.

The draft regulations on the Internal Audit Committee proposed by the Board for consideration at the EGM and approval by the EGM as the Regulations will be set out in the EGM circular.

ELECTION OF INTERNAL AUDIT COMMITTEE

The Charter provides that the general meeting shall elect the internal audit committee of the Company composed of three persons, to exercise control over the financial and economic activities of the Company. Members of the Internal Audit Committee may not simultaneously be members of the Board or hold other executive offices in the Company.

The following persons were proposed by the Board for consideration at the EGM and election as members of the Internal Audit Committee: Ms. Tatyana Vladimirovna Plotnikova, Mr. Anton Gennadyevich Drozdov and Mr. Yuri Anatolyevich Perevalov.

CIRCULAR

A circular containing details of the Regulations and members proposed to be elected to the Internal Audit Committee, as well as information regarding the online portal, is expected to be despatched by the Company to its Shareholders on or before 16 March 2021.

RECORD DATE

The record date for determining the eligibility of the holders of the Shares to attend and vote at the EGM will be 14 March 2021.

DEFINITIONS

In this announcement, the following expressions have the following meanings, unless the context otherwise requires:

"Board" the board of Directors of the Company.

"Charter"

the corporate charter of the Company which became effective on 25 September 2020.

"Company"

United Company RUSAL, international public joint-stock company, incorporated under the laws of Jersey with limited liability and continued in the Russian Federation as an international company, the shares of which are listed on the Moscow Exchange and the Main Board of the Stock Exchange of Hong Kong Limited.

"Director(s)"

member(s) of the board of directors of the Company.

"EGM"

extraordinary general meeting of shareholders of the Company to be held on 7 April 2021 at 11:00 a.m. Moscow time (4:00 p.m. Hong Kong time) at Novotel Moscow City, Presnenskaya nab., 2, Moscow, Russian Federation and by a live broadcast to the Shareholders through an online portal.

"Hong Kong"

the Hong Kong Special Administrative Region of the People's Republic of China.

"Internal Audit Committee"

an internal audit committee of the Company, controlling business and financial performance of the Company, which is elected by the general meeting of the Company and consisting of three members.

"Regulations"

regulations on the Internal Audit Committee of the Company, that are subject to consideration by the EGM, developed in accordance with the Russian legislation, the Charter and consistent with the statutory regulation of activity of international companies, provided for the Federal Law of 3 August 2018 No. 290-FZ "On International Companies and international funds", as well as other statutory documents of the Russian Federation.

"RUB"

Russian rouble, the monetary unit and lawful currency of the Russian Federation.

"Shareholder(s)"

holder(s) of Share(s).

"Share(s)"

15 March 2021

the ordinary share(s) of the Company with nominal value of RUB 0.656517 each.

By virtue of the power of attorney on behalf of

United Company RUSAL, international public joint-stock company

Aby Wong Po Ying

Company Secretary

As at the date of this announcement, the members of the Board of Directors are the following: 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), Dr. Evgeny Shvarts, 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 linkshttp://www.rusal.ru/en/investors/info.aspxand http://rusal.ru/investors/info/moex/ , respectively.