En+ Group Investment Presentation

Power Segment EBITDA Analysis Power segment EBITDA in 1H 2021 (USD mn) EBITDA margin (%) 86 11 14 na 38 580 43 16 11 510 1H 2021 adj. EBITDA bridge build-up (USD mn) 542 48 48 (36) (24) 50 50 580 HPPS CHPS Coal Other and interco Total Adj. EBITDA 1H 2020 FX Spot prices HPP generation Others Adj. EBITDA 1H 2021 Power segment EBITDA in 1H 2020 (USD mn) EBITDA margin (%) 84 10 11 na 38 37 14 22 542 469 HPPS CHPS Coal Other and interco Total Note: The calculations are for illustrative purposes only and based on management accounts. Ent GROUP The Power segment's Adjusted EBITDA in 1H 2021 increased to USD 580 million (up 7.0% y-o-y), increase in electricity sales volumes and increase in capacity prices y-o-y, which was partially offset by rouble depreciation and slight decrease in electricity sales prices: - - HPP generation: the Group's HPPs increased electricity generation volumes to 36.9 TWh (up 15.3% y-o-y) in 1H 2021 Foreign exchange rates: in 1H 2021, the average for the period RUB/USD exchange rate increased by 7.1% to 74.28 compared to 69.37 in 1H 2020 49

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