EN+ GROUP ANNOUNCES NEW CHIEF EXECUTIVE OFFICER

20 December 2023 - EN+ GROUP IPJSC (the "Company" or the "Group") (LSE: ENPL; MOEX: ENPG), the world's leading independent producer of low-carbon aluminium and renewable energy, announces that the Company's Board of Directors has approved the appointment of Mikhail Khardikov as Chief Executive Officer ("CEO") of the Company effective from 1 January 2024 upon the retirement of Vladimir Kiriukhin from the office of CEO effective from 31 December 2023.

Christopher Burnham, Chairman of the Company said today:

"On behalf of all our employees in the Group, I would like to thank Vladimir Kiriukhin for his contribution to the Company's success and wish him well in retirement. Under his leadership the Group has truly established itself as the world's leading producer of low carbon aluminium and the largest independent hydropower company in the world, and, again, I want to personally thank him for his dedicated and exceptional service to the employees of the Company, and to the shareholders for the past five years as CEO, and more than twenty years as a senior executive of the Company."

Mr. Burnham continued:

"The promotion of Mikhail Khardikov from COO to the position of the CEO of the Group represents his extensive knowledge of our Company's operations and his leadership as CFO and then COO of the Group. This change to our management and leadership team ensures the Group's continuity of leadership with a focus on the growing synergy between the Energy and Metals Segments of the Group. The entire Board wishes to extend its enthusiastic congratulations to Mr. Khardikov."

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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.