United Company RUSAL Plc: Proposed Registration of Multicurrency Exchange-Traded Bonds Programme

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UNITED COMPANY RUSAL PLC
(Incorporated under the laws of Jersey with limited liability)
(Stock Code: 486)

PROPOSED REGISTRATION OF MULTICURRENCY
EXCHANGE-TRADED BONDS PROGRAMME

United Company Rusal Plc (the "Company”) (Paris:RUSAL) (Paris:RUAL) is pleased to announce that the board of directors of the Open Joint Stock Company "RUSAL Bratsk Aluminium Smelter” ("BrAZ”), an indirect wholly-owned subsidiary of the Company, proposes the registration of multicurrency exchange-traded bonds programme to issue up to RUB 70 billion worth of multicurrency exchange-traded bonds (the "Bonds”).

The issuance of the Bonds remains subject to the approval of the board of directors of BrAZ and the receipt of all necessary internal or external approvals.

The Bonds, if approved, will be issued and placed to the placee(s) in Russia. None of the Bonds will be offered to the public in Hong Kong, France or the United States. The Bonds have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act”). They may not be offered or sold in the United States, except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act. The final decision on the placement will be made by BrAZ at a later stage subject to market conditions. The key parameters of the Bonds (i.e. volume, term and coupon rate) also remain subject to the final approval by the board of directors of BrAZ and other internal approvals at the stage of considering placement.

Application will be made for the listing of the Bonds on the MICEX Stock Exchange. No listing of the Bonds has been or will be sought in Hong Kong or France.

Proposed key terms of the Bonds are as follows:

The objective of the registration of the Bonds programme is to ensure the technical ability of the Company to raise financing on the local debt capital market via issuance of exchange-traded bonds nominated in Russian roubles and/or other currencies.

As no binding agreement in relation to the Bonds programme has been entered into as at the date of this announcement, the issuance and placement of the Bonds may or may not materialize. Shareholders and investors are advised to exercise caution when dealing in the shares and other securities of the Company.

1 April 2016

As at the date of this announcement, the executive Directors are Mr. Oleg Deripaska, Mr. Vladislav Soloviev and Mr. Stalbek Mishakov, the non-executive Directors are Mr. Maxim Sokov, Mr. Dmitry Afanasiev, Mr. Len Blavatnik, Mr. Ivan Glasenberg, Mr. Maksim Goldman, Ms. Gulzhan Moldazhanova, Mr. Daniel Lesin Wolfe, Ms. Olga Mashkovskaya and Ms. Ekaterina Nikitina, and the independent non-executive Directors are Mr. Matthias Warnig (Chairman), Dr. Peter Nigel Kenny, Mr. Philip Lader, Dr. Elsie Leung Oi-sie, Mr. Mark Garber and Mr. Dmitry Vasiliev.

All announcements and press releases published by the Company are available on its website under the links http://www.rusal.ru/en/investors/info.aspx, http://rusal.ru/investors/info/moex/ and http://www.rusal.ru/en/press-center/press- releases.aspx, respectively.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160331006527/en/