United RUSAL : OVERSEAS REGULATORY ANNOUNCEMENT CIRCULAR ON PROPOSED 2020, 2021 AND 2022 ANNUAL CAPS FOR CONTINUING CONNECTED TRANSACTIONS AND NOTICE OF EXTRAORDINARY GENERAL MEETING

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UNITED COMPANY RUSAL PLC

(Incorporated under the laws of Jersey with limited liability)

(Stock Code: 486)

OVERSEAS REGULATORY ANNOUNCEMENT CIRCULAR ON PROPOSED 2020, 2021 AND 2022 ANNUAL CAPS FOR CONTINUING CONNECTED TRANSACTIONS

AND

NOTICE OF EXTRAORDINARY GENERAL MEETING

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 2020, 2021 and 2022 annual caps for continuing connected transactions 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

18 October 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

PROPOSED 2020, 2021 AND 2022 ANNUAL CAPS FOR CONTINUING

CONNECTED TRANSACTIONS

AND

NOTICE OF EXTRAORDINARY GENERAL MEETING

1. General information

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

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 information, about which the disclosure is made: the publication of the
   Circular on proposed 2020, 2021 and 2022 annual caps for continuing connected transactions and notice of extraordinary general meeting;
5. Date of publication of the text of the relevant document on the page on the Internet: "17" October 2019;
6. 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 on proposed 2020, 2021 and 2022 annual caps for continuing connected transactions and notice of 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 № PAM-ДВ-19-0077 issued on August 18, 2019

(signature)

D. Sidarkevich

3.2. Date «17» October 2019

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