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Investor Presentaiton

Enhanced Governance and Shareholder Consensus "The settlement of a dispute between major shareholders should provide the company with a solid platform for further improvement of strategic, operational and corporate governance issues" Gareth Penny, Chairman of the new Board of Directors The new elected Board of Directors includes 4 independent non executive directors out of 13 members, including the Chairman of the Board Several changes in the Management Board including the CEO and the CFO Shareholders agree not to take any action with respect to specified fundamental matters without the agreement of each of them Composition of the Board Governance Structure INEDS 4 Other 1 NORILSK NICKEL 13 members Interros 4 UC RUSAL 4 General Meeting of Shareholders Board of Directors Audit Committee Strategy Committee Management Board General Director Corporate Governance, Remuneration and Nomination Committee Budget Committee (CEO) 25 25
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