DGAP-UK-Regulatory: Mining and Metallurgical Company NORILSK NICKEL PJSC (spons. ADRs)

EQS-Regulatory: NORNICKEL LAUNCHES LEGAL PROCEEDINGS AGAINST BCL

MMC Norilsk Nickel / Miscellaneous - High Priority NORNICKEL LAUNCHES LEGAL PROCEEDINGS AGAINST BCL

30-Nov-2016 / 19:31 CET/CEST Dissemination of a Regulatory Announcement, transmitted by EquityStory.RS, LLC - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement.

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PRESS RELEASE

November 30, 2016

Public Joint Stock Company «Mining and Metallurgical Company «NORILSK NICKEL»

(PJSC 'MMC 'Norilsk Nickel', 'Nornickel', the 'Company' or the 'Group')

NORNICKEL LAUNCHES LEGAL PROCEEDINGS AGAINST BCL

Moscow - PJSC «MMC «Norilsk Nickel» reports, that the Group has filed law suits against the Botswana-based BCL group (BCL) to enforce the sale of Nornickel's 50% stake in a joint venture Nkomati to BCL.

The request for arbitration has been submitted to the London Court of International Arbitration (LCIA). The Group is seeking to obtain an unconditional and enforceable execution of the sale and purchase agreement for a 100% interest in Norilsk Nickel Africa (which holds 50% in Nkomati), or, alternatively damages to be recovered from BCL.

In addition, the Group has filed a lawsuit in the court of Botswana to obtain an authorization for the legal prosecution of BCL, currently in the process of liquidation, in the LCIA, and for interim relief to protect the Group's position in the liquidation.

Irrespective of the ongoing court proceedings, Nkomati remains a commercially viable asset and a going concern. In order to maximize the financial performance of Nkomati, the Group has decided to extend the offtake agreement for all of Nkomati's nickel concentrate production.

Metal Trade Overseas, a European subsidiary of the Group, has entered into the offtake agreement with Nkomati for the delivery of up to 200 ktpa of nickel concentrate over at least five years.

This offtake agreement enables Nornickel to retain control over the distribution of a desirable product given the rising deficit in the nickel market. Nornickel is going to process in-house some of the Nkomati nickel concentrate and to sell the remainder to third parties at a profit.

In 2014, Nornickel and BCL Investments entered into a binding agreement for the sale of the Group's African assets to BCL, an entity controlled by the Botswana government. Upon successful completion of all conditions precedent to closing of this transaction, BCL Investments failed to deliver on its obligations according to the agreement. In October 2016, Nornickel learned from the press that BCL was put into a voluntary liquidation.

This announcement contains inside information in accordance with Article 7 of EU Regulation 596/2014 of 16 April 2014.

Full name and position of person making the announcement - Vladimir Zhukov, Vice - president, Investor Relations

ABOUT THE COMPANY

PJSC «MMC «NORILSK NICKEL» is a diversified mining and metallurgical company, the world's largest producer of refined nickel and palladium and a leading producer of platinum, cobalt, copper and rhodium. The company also produces gold, silver, iridium, selenium, ruthenium and tellurium.

The production units of «NORILSK NICKEL» Group include Polar Division, located at the Norilsk Industrial District on Taimyr Peninsula, and Kola Mining and Metallurgical Company located on the Kola Peninsula in Russia as well as Harjavalta nickel refinery in Finland.

PJSC «MMC «NORILSK NICKEL» shares are listed on the Moscow and on the Saint-Petersburg Stock Exchanges. PJSC «MMC «NORILSK NICKEL» ADRs trade over the counter in the US and on the London and Berlin Stock Exchanges.

Media Relations: Investor Relations:

Phone: +7 (495) 785 58 00 Phone: +7 (495) 786 83 20

Email: pr@nornik.ru Email: ir@nornik.ru

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Language: English Company: MMC Norilsk Nickel 1 st Krasnogvardeysky av., 15 123100 Moscow Russia Internet: www.nornik.ru ISIN: US55315J1025 WKN: A140M9 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart; Open Market in Frankfurt ; London, Nasdaq Category Code: MSCH TIDM: MNOD Sequence Number: 3641 Time of Receipt: 30-Nov-2016 / 19:31 CET/CEST End of Announcement EquityStory.RS, LLC News Service ---------------------------------------------------------------------------

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