En+ Group Investment Presentation

Electricity Prices Mainly Increase with Inflation Wholesale electricity sales Spot Balancing market Free bilateral contracts Regulated contracts (RC) • Auction of price bids and volumes submitted by the power producers and consumers a day in advance of actual delivery on an hourly basis Day ahead market is managed by ATS with price based on marginal pricing mechanism Additional online auction held by the System Operator every hour Prices and volumes are determined at sole discretion of the supplier and the purchaser of electricity Sales to UC Rusal through free bilateral contracts are based on long- term power supply agreements signed in October 2016 (37.6 TWh of electricity to be supplied annually and electricity price set at a rate 3.5% below electricity spot price) Signed between the power producers and power sales companies who buy on behalf of residential consumers Regulated tariffs are set by FAS and generally indexed to inflation Retail electricity sales Retail prices include capacity charge and grid tariff Supply companies purchase electricity and capacity from the wholesale power market 1H 2021 sales volume 20.0 TWh 3.3 TWh 18.0 TWh 1.7 TWh Retail Tariffs for residential customers are regulated and indexed to inflation or just near inflation 10.4 TWh¹ Sale of power to other non-regulated customers are done at non- regulated prices 1H 2021 revenue contribution² Development of electricity prices (RUB/MWh) 3 Retail 16% 1956 1956 1966 1914 1 768 12% Ent GROUP Spot 5 1,012 4 0.2% 929 888 865 830 815 811 752 773 713 715 Free bilateral contracts 622 659 636 495 587 528 Balancing market 149 146 113 100 115 Regulated contracts 18% 2016 2017 2018 2019 2020 2021 2022 Source: FAS (Federal Antimonopoly Service), System Operator, ATS (Joint-stock company "Administrator of the trading system of the wholesale electricity market"), federal laws, SEEPX Energy. (1) Retail sales volumes are on net basis (including intercompany eliminations). (2) Based on Power segment's revenue of USD 1,513 mn in 1H 2021, of which 16% contributes to other revenues. (3) En+ actual retail prices. (4) For 2021 is a forecast by NP Market Council (27.08.2021). (5) For 2022 is a forecast by NP Market Council (01.07.2021). 22 42

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