Investor Presentaiton

En+ GROUP 2 WARNING CONTENTS The information presented in this Annual Report only reflects the Company's position during the review period from 1 January 2021 to 31 December 2021 (the "Review Period") pursuant to the requirements of the Listing Rules ("LR") published by the UK's Financial Conduct Authority (the "FCA") in its capacity as competent authority under the Financial Services and Markets Act 2000 (as amended) and the FCA's Disclosure Guidance and Transparency Rules ("DTRS") (the LR and the DTR together being the "Rules") (unless otherwise specified). Accordingly, all forward-looking statements, analyses, reviews, discussions, commentaries and risks presented in this Annual Report (save for this Warning, the sub-section headed "En+ Group's key business risks" in the "Internal Control and Risk Management" section, "Corporate Governance" section and unless otherwise specified) are based upon the financial information of the Company covering the Review Period only and not thereafter. Shareholders and potential investors should be aware that, as widely reported in the media in late February, March and April 2022, certain countries and multilateral organisations announced new packages of sanctions against the public debt of the Russian Federation, Russia's central bank, a number of Russian banks and certain Russian government-related entities and institutions, as well as personal sanctions against a number of individual as well as certain other restrictions. Due to the growing geopolitical tensions since February 2022, there has been a significant increase in volatility on the securities and currency markets, as well as a significant depreciation of the rouble against the US dollar and the euro. It is expected that these events will affect the activities of Russian enterprises in various sectors of the economy. The quantitative effect of these events cannot be accurately estimated at the moment with any degree of confidence. Due to all these circumstances, the Company may potentially face difficulties in the supply of equipment, which may lead to the postponement of investment projects. The probable necessity to replace foreign currency credit facilities with debt denominated in RUB may have a negative impact on the financial results of the Company due to high interest rates in the local RUB market caused by general instability and the significant increase of the key rate set by the Bank of Russia (set at 20% in the end of February 2022 and subsequently decreased to 17% in the beginning of April 2022). The recently announced intention by the Russian Government to change the regulation of domestic metals' sales prices affecting En+ Group's metals segment represented by RUSAL may have an adverse effect on the Company's profitability. On 1 March 2022, the Group has announced that due to unavoidable logistical and transport challenges on the Black Sea and the surrounding area, it has been obliged to temporarily halt production at the Nikolaev Alumina Refinery located in the Nikolaev Region, Ukraine. 2021 output of this refinery amounted to 1.8 mt of alumina. Also, on 20 March 2022, the Australian government imposed an immediate ban on exports of alumina and aluminium ores, including bauxite, to Russia. This action will affect, among other things, the alumina export from Australia. That is almost 20% of RUSAL demand. Currently, the Company's management is evaluating the effect of all of the above and analysing the possible impact of changing and uncertain micro- and macroeconomic conditions on the Company's future financial position and results of operations in 2022 and onwards, and will make further announcements if and when it is necessary or required. Shareholders and potential investors should be aware that the information presented in this Annual Report (save for this Warning, the sub-section headed "En+ Group's key business risks" in the "Internal Control and Risk Management" section, and unless otherwise specified) does not take into account all these new developments or any potential impact which these may have on the Company or the Group. Accordingly, the information presented in this Annual Report (save for this Warning, the sub- section headed "En+ Group's key business risks" in the "Internal Control and Risk Management" section, and unless otherwise specified), including but not limited to all forward-looking statements, analyses, reviews, discussions, commentaries and risks, does not reflect the latest position (financial or otherwise) of the Group. Given the global nature of the business of the Group, the international politico-economic dimension of the circumstances indicated above this matter is continually evolving. Shareholders and potential investors are therefore strongly advised to make reference to the latest announcements issued by the Company (i.e. announcements issued by the Company after 24 February 2022) and such other announcement(s) to be issued by the Company in accordance with the applicable laws and regulations as and when appropriate before dealing in the Company's securities. Shareholders and potential investors should exercise caution when dealing in the Company's securities. If in doubt, recently are advised to consult their stockbrokers, bank managers, solicitors and/or other professional advisers before dealing in the Company's securities. STRATEGIC REPORT WARNING RELIABILITY AS A PRINCIPLE PRODUCE LOW-CARBON ALUMINIUM AND POWER FOR OUR CUSTOMERS PROVIDE SUPPORT AND SAFETY FOR OUR STAFF MEET OUR COMMITMENTS TO LOCAL COMMUNITIES CONTINUE ENVIRONMENTALLY FRIENDLY MODERNISATION KEY EVENTS AND FIGURES OUR PRESENCE AND SCALE CHAIRMAN'S STATEMENT STRATEGY CHIEF EXECUTIVE OFFICER'S STATEMENT BUSINESS MODEL BUSINESS REVIEW FINANCIAL REVIEW SUSTAINABILITY REVIEW INTERNAL CONTROL AND RISK MANAGEMENT ETHICS AND COMPLIANCE CORPORATE GOVERNANCE CORPORATE GOVERNANCE BOARD OF DIRECTORS 04 06 08 10 20 216002224700 18 28 112 116 COMMITTEES OF THE BOARD 124 AUDIT AND RISK COMMITTEE 126 CORPORATE GOVERNANCE COMMITTEE 126 NOMINATIONS COMMITTEE 127 REMUNERATION COMMITTEE COMPLIANCE COMMITTEE 127 130 HEALTH, SAFETY AND ENVIRONMENT COMMITTEE 130 INFORMATION FOR SHAREHOLDERS AND INVESTORS 132 FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL STATEMENTS APPENDICES GLOSSARY ABOUT THE REPORT CONTACTS APPENDICES (provided as a separate document) APPENDIX 1: REPORT ON COMPLIANCE WITH THE RUSSIAN CORPORATE GOVERNANCE CODE APPENDIX 2: ENERGY RESOURCE CONSUMPTION APPENDIX 3: LIST OF THE COMPANY'S BRANCHES Company 136 216 220 222 For more on our Company please visit our webpage at www.enplusgroup.com/en/ En+ Group Annual Report 2021 3

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