United RUSAL International Public Joint Stock : OVERSEAS REGULATORY ANNOUNCEMENT

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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)

OVERSEAS REGULATORY ANNOUNCEMENT

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, international public joint-stock company (the "Company") announces that the attached announcement has been released in Russian to Public Joint-Stock Company «Moscow Exchange MICEX-RTS» on which the Company is listed and on the website of the Company.

By virtue of the power of attorney on behalf of

United Company RUSAL,

international public joint-stock company

Aby Wong Po Ying

Company Secretary

14 May 2021

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 links http://www.rusal.ru/en/investors/info.aspx and http://rusal.ru/investors/info/moex/ , respectively.

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Notification of the decisions of the Board of Directors

1. General information

1.1.	Full corporate name of the issuer	United Company RUSAL, international public
		joint-stock company
1.2.	Abbreviated corporate name of the issuer	UC RUSAL, IPJSC
1.3.	Location of the issuer	Russian Federation, Kaliningrad Region, the
		city of Kaliningrad, Oktyabrskij island
1.4.	Primary State Registration Number	1203900011974
	(OGRN) of the issuer
1.5.	Taxpayer Identification Number (INN) of	3906394938
	the issuer
1.6.	The issuer's unique code assigned by the	16677-A
	registration authority
1.7.	Website address used by the issuer for the	http://rusal.ru/investors/info/moex/
	purposes of disclosure of information	http://www.e-disclosure.ru/portal/company.aspx?id=38288
1.8.	Date of the event (material fact) being	12 May 2021
	subject matter of the notification (if
	applicable)

2. Notification content

2.1. The quorum of the meeting of the issuer's board of directors and the results of voting on the agenda items of the meeting of the board of directors:

At the stated time 13 voting ballots were received. The quorum is present.

Results of voting on the item №1 on the agenda of the meeting of the Board of Directors: "On approval of the Supplementary Agreement №1 to the Registrar Services Agreement No P-624 dated 25 August 2020 between UC RUSAL, IPJSC and JSC "IRC"":

"FOR" - 13 votes;

"AGAINST" - 0 votes;

"ABSTAINED" - 0 votes.

2.2. Contents of resolutions of the issuer's board of directors: Om item №1:

Approve the Supplementary Agreement №1 to Registrar Services Agreement No P-624 dated 25 August 2020 between United Company RUSAL, international public joint-stock company (the "Company", the "Issuer") and Joint Stock Company Interregional Registration (the "Registrar") (the "Agreement") according to clause 23.1.24 of the Company's Charter on the following terms and conditions:

• The name of the Issuer throughout the text of the Agreement, as well as additions, changes, appendices and other documents related to the Agreement, should be read as United Company RUSAL, international public joint-stock company (if the full corporate name of the Issuer is indicated) or UC RUSAL, IPJSC (if the abbreviated name of the Issuer is indicated).
• Clause 3.3.7 of the Agreement shall be amended as follows:

'3.3.7 The Issuer is obliged to reimburse the Registrar for expenses incurred by the Registrar in connection with the maintenance of the account of the foreign organisation that is a registrar in accordance with its personal law (hereinafter referred to as the 'Foreign Registrar'), including the cost of the Registrar's services provided to the Foreign Registrar in accordance with the Registrar's price list and/or agreements entered into by and between the Registrar and the Foreign Registrar, as well as expenses incurred by the Registrar for the purpose of establishing and maintaining a special procedure for exchanging information with the Foreign Registrar in connection with maintaining the Register (using secure electronic communication channels, courier delivery and other means of communication). The terms of this clause shall apply to the Registrar's expenses incurred starting from the Register Maintenance Commencement Date'.

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- Clause 8.1 of the Agreement shall be amended as follows:

'8.1. The Agreement comes into force from the date of its signing by both Parties, taking into account the provisions of clause 2.5 of the Agreement and also clause 3 of Appendix 1 to the Agreement, and will be valid indefinitely'.

• Clause 12 of the Agreement with regard to the details of the Issuer shall be amended as follows:
  Issuer: United Company RUSAL, international public joint-stock company.

Registered address: Russian Federation, Kaliningrad Region, the city of Kaliningrad, Oktyabrskij Island

Postal address: 1 Vasilisy Kozhinoy street, floor 2 room 24, Moscow, 121096, Russian Federation

Primary State Registration Number (OGRN): 1203900011974

Settlement Account 40807810500020008057 with PJSC Sberbank

Correspondent account 30101810400000000225

BIC 044525225

Taxpayer Identification Number (INN) 3906394938; Tax Registration Reason Code (KPP) 390601001 Telephone/fax: [phone]

e-mail: [e-mail]; [e-mail]; [e-mail]

RUSAL SignAL Hotline receives messages about potential fraud related to the company's activities: tel. [phone] (toll free in Russia), [phone] (for international calls), mob. [phone], email: [e-mail]

- Clause 3 of Appendix 1 to the Agreement shall be supplemented with the following sentence:

'The terms of this clause shall apply to the Registrar's expenses incurred before the Register Maintenance Commencement Date'.

2.3. Date of the meeting of the issuer's board of directors:

11.05.2021

2.4. Date and number of the minutes of the meeting of the issuer's board of directors:

12.05.2021, Minutes №210406

	3. Signature
3.1. Corporate Secretary		S.V. Bazanov
(by virtue of power of
attorney
ОКР -ДВ-20-0003	(signature)
dated October 13, 2020)	L.S.
3.2. Date "13" May 2021

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