Investor Presentaiton

Capital Expenditure Capital expenditure dynamics¹ (USD mn) 7392 6742 94 183 580 556 9M 2018 9M 2019 Metals Power 9M 2019 Capital expenditure structure² (USD mn) 44.7% 55.3% Maintenance Development Ent GROUP • . The Group continues to invest in its business, with focus on increasing the efficiency of our HPPS and building up the production of low-carbon aluminium In 9M 2019 the Company continued its investment in key development projects as per its strategic priorities of preserving its competitive advantages of vertical integration into raw materials and product mix enhancements, including Taishet aluminium smelter In 9M 2019, as a part of 'New Energy' modernization program upgraded equipment allowed for increased energy production from the HPPs of 934 GWh In 9M 2019, the Group participated in the state programs for CHP modernisation providing with a guaranteed return on investment. Through this program the Group will improve reliability and safety of 1,115 MW or 25.4% of its CHP capacity with the total expected CAPEX of USD 189 mn (RUB 12.2bn) (1) Capital expenditure represents cash flow related to investing activities - acquisition of property, plant and equipment and acquisition of intangible assets.. (2) Before intersegmental elimination. 31

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