United Company RUSAL Plc: Third Quarter 2015 Trading Update

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

THIRD QUARTER 2015 TRADING UPDATE

This announcement is made by United Company Rusal Plc ("UC RUSAL” or the "Company”) pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong) and applicable French laws and regulations.

Shareholders and potential investors are advised to exercise caution when dealing in the shares of UC RUSAL.

UC RUSAL announces its operating results for third quarter 2015 ("3Q15”).

Aluminium

? Aluminium production¹ in 3Q15 totaled 916 thousand tons (+1.0% QoQ). The capacities utilisation rate was approximately 96%². Russia Siberian operations accounted for 95% of the total aluminium products output.

? Aluminium sales³ in 3Q15 totaled 939 thousand tons (+5.7% QoQ). Sales growth was driven by the increased sales to both the domestic and export markets. Export deliveries in 3Q15 were partially supported by the reduction of inventories held during transportation. The share of VAP⁴ products in the overall aluminium sales portfolio in 3Q15 increased to 46%.

¹ Aluminium production represented by salable products output.

² Excluding mothballed capacities. Bogoslovsk, Urals, Volgograd, Volkhov and ALSCON plants are not included in the total Group capacity.

³ Sales volumes and realized sales price based on preliminary data and will be updated in 3Q15 financial results announcement expected to be issued on 13 November 2015.

⁴ VAP includes alloyed ingots, slabs, billets and wire rod.

? 3Q15 realized price decreased by 13.0% QoQ to US$1,843/t following the reduction of aluminium prices at London Metal Exchange and commodity premiums, impacted by deteriorating market conditions.

? 9M15 aluminium production totaled 2,724 thousand tons (+1.4% YoY). The utilisation rate was approximately 95%.

? 9M15 aluminium sales totaled 2,762 thousand tons (+4.2% YoY), with 43% share of VAP in the sales portfolio. Average realised price in 9M15 was at US$2,087/t (-3.1% YoY).

Alumina

? 3Q15 alumina production totaled 1,870 thousand tons (+2.8% QoQ). International operations (including Aughinish Alumina and Windalco) accounted for the major part of the output growth due to routine maintenance repairs performed at those plants in 2Q15. The overall alumina production growth is attributable to stronger internal (intercompany) demand and sustainable demand from third parties.

? 9M15 alumina production totaled 5,496 thousand tons (+1.1% YoY).

Bauxites

? 3Q15 bauxite and nepheline ores production totaled 3,488 thousand tons (+8.2% QoQ) and 1,053 thousand tons (+1.2% QoQ), respectively. Russian operations accounted for 50% of bauxite produced and 100% of nepheline ore produced. The overall bauxite production growth is attributable to stronger internal (intercompany) and external demand.

? 9M15 bauxite and nepheline ores production totaled 9,834 thousand tons (+7.2% YoY) and 3,159 thousand tons, respectively (-6.6% YoY).

Guidance

? The Company will maintain production discipline in accordance with the previously provided guidance. UC RUSAL management expects flat YoY aluminium production volumes in 2015.

? The Company does not plan restarting of aluminium smelters idled in 2013 and is considering further aluminium capacities production cuts totaling approximately 200 thousand tons per annum.

KEY OPERATING DATA

GROUP PRODUCTION DATA⁵

GROUP SALES DATA

⁵ The production data throughout the report is presented on equity-adjusted basis. Production volumes are calculated based on the pro rata share of the Company´s (and its subsidiaries´) ownership in corresponding alumina refineries.

ALUMINIUM PRODUCTION

⁶ Here and further "total production” may not equal to the arithmetic addition of the numbers above presented in the table. The difference arises due to the roundoff of exact numbers (incl. decimals).

Foil and packaging production

Other aluminium products production

ALUMINA PRODUCTION

⁷ The Company controlled 93% of Windalco during 2014 and consolidated 100% stake in Windalco in December 2014.

BAUXITE MINING

Nepheline production

⁸ The Company controlled 93% of Windalco during 2014 and consolidated 100% stake in Windalco in December 2014.

JOINT VENTURES PRODUCTION

28 October 2015As 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, Ms. 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/20151027006637/en/