EN+ STATEMENT RE PRESS COMMENT

7 March 2022 - EN+ GROUP IPJSC (the "Company", "EN+" or the "Group") (LSE: ENPL; MOEX: ENPG), notes the recent press article published by Bloomberg regarding the future of EN+'s listed subsidiary UC RUSAL ("RUSAL").

The Group confirms that it is currently reviewing its strategy with respect to RUSAL. Options under consideration include the possibility of carving out RUSAL's international business.  The Group wishes to emphasise that the strategic review is at a preliminary stage and any future course of action will be subject to further consideration as well as discussions with the relevant regulatory bodies and key stakeholders.

Further announcements will be made if and when necessary.

For further information, please contact:

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This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Group's business, results of operations, financial position, liquidity, prospects, growth or strategies.  Forward-looking statements speak only as of the date they are made.