Moscow, April 18, 2016 - The Board of Directors of PJSC MMC Norilsk Nickel ('Norilsk Nickel' or the 'Company') has approved the sale to Crispian Investments Limited ('Crispian') of 1,250,075 ordinary shares (constituting 0.79% of total share capital of the Company) for a total consideration of USD 158 million (the 'Transaction').

On April 11, 2016 the Company received an offer from Crispian in respect of the Transaction. After careful consideration of the Transaction and other matters it deemed relevant, the Audit Committee of the Company, consisting of two independent directors, unanimously recommended to the Board of Directors of the Company to approve the Transaction. The Board of Directors of the Company, having considered the recommendation of the Audit Committee and other matters it deemed relevant unanimously approved the Transaction and the entry into legally binding agreements in respect of the Transaction.

Pavel Fedorov, the First Vice-President and Executive Director of Norilsk Nickel commented: 'In view of the challenging commodity market environment, the management continues to pursue all opportunities aimed at strengthening the balance sheet of the company. This transaction was unanimously approved by the Board and manifests the confidence and support of one of our anchor investors in the long-term development strategy of Norilsk'.

Sergey Bratukhin, a director of Norilsk Nickel nominated by Crispian, commented ' We are a long-term investor into Norilsk Nickel and are confident in the prospects of the company. We consider an acquisition of the quasi-treasury stake from the company as an attractive opportunity which is fully in line with our investment strategy.'

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OJSC MMC Norilsk Nickel issued this content on 18 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 18 April 2016 14:42:08 UTC

Original Document: http://www.nornik.ru/en/newsroom/news-and-press-releases/press-releases/board-of-directors-of-norilsk-nickel-approves-sale-of-quasi-treasury-shares-to-crispian-for-usd-158-million