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UNITED COMPANY RUSAL PLC

(Incorporated under the laws of Jersey with limited liability)

(Stock Code: 486) SECOND QUARTER 2015 TRADING UPDATE

This announcement is made by United Company RUSAL Plc ("UC RUSAL" or the "Company") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong) and applicable French laws and regulations.
Shareholders and potential investors are advised to exercise caution when dealing in the shares of UC RUSAL.
UC RUSAL announces its operating results for second quarter 2015 ("2Q15"). Key highlights:

Total aluminium output amounted to 908 thousand tons (+0.8% QoQ and +1.1% YoY in 2Q15). The Company maintains production discipline in accordance with the previously provided guidance.

Sales volumes in 2Q15 amounted to 880 thousand tons (-5.1 % QoQ). Decrease in sales volumes in 2Q15 resulted from the higher than normal sales in 1Q15 when shipment delays caused by port weather conditions in October to November 2014 were compensated.

The average realized price went down 7.7% QoQ to US$ 2124/t in 2Q15 driven by lower London Metal Exchange (LME) cash price and declining physical premium across key export markets.

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UC RUSAL volume of alumina production remained flat at 1,818 thousand tons in 2Q15 (+0.6% QoQ and +0.8%YoY).

UC RUSAL bauxite production amounted to 3,223 thousand tons in 2Q15 (+3.2% QoQ and +7.3% YoY). The production growth is mostly attributable to the stronger demand from the Company's alumina refineries and third parties.

UC RUSAL management expects flat YoY aluminium production volumes in

2015. The Company does not plan restarting of aluminium smelters idled in
2013. UC RUSAL considers reducing its capacity by up to 200kt pa over next 12 months through implementation of the active maintenance capex management program envisaging optimization of scheduled maintenance on pot lines.

Change, Change, Key operating data1 2Q15 1Q15 %(QoQ) 2Q14 %(YoY)

('000 tons) unless otherwise indicated

Aluminium

908

900

0.8%

900

1.1%

Alumina

1,818

1,808

0.6%

1,804

0.8%

Bauxite

3,223

3,124

3.2%

3,003

7.3%

Nepheline

1,040

1,066

(2.4%)

1,229

(15.3%)

Aluminium foil and packaging products

22

22

(1.6%)

23

(3.6%)

Change, Change, Sales price, US$/tonne 2Q15 1Q15 %(QoQ) 2Q14 %(YoY)

Realized price

2,124

2,299

(7.7%)

2,114

0.4%

Sales volumes, mt

880

9351

(5.1%)

893

(0.6%)

1 Information on sales volumes and realized sales price is preliminary and will be updated in 2Q15 financial results announcement expected to be issued on 27 August 2015.

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Sayanogorsk aluminium

Novokuznetsk aluminium

Russia - Other

Bogoslovsk aluminium

smelter 100% - - - - - Volgograd aluminium

smelter 100% - - - - - Urals aluminium smelter 100% - - - - - Nadvoitsy aluminium

smelter 100% 3 3 0.1% 3 2.8% Kandalaksha aluminium

smelter 100% 17 16 1.7% 16 3.2% Volkhov aluminium

smelter 100% - - - - -

Sweden

Kubikenborg Aluminium

(KUBAL) 100% 28 29 (1.7%) 30 (4.4%)

Nigeria

ALSCON 85% - - - - -


Total production 908900 0.8% 900 1.1%


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Alumina production r

('000 tons)2 unless

esults

Change,

Change,

otherwise indicated

Interest

2Q15

1Q15

%(QoQ)

2Q14

%(YoY)

Ireland

Aughinish Alumina

100%

476

488

(2.5%)

495

(3.8%)

Jamaica

Alpart

Windalco* (Ewarton and

Kirkvine Works)

100%

143

149

(3.8%)

120

19.2%

Russia



* The operating data in the table is presented on equity-adjusted basis. The Company controlled

93% of Windalco during 2014 and consolidated 100% stake in Windalco in December 2014.

2 Calculated based on the pro rata share of the Company's (and its subsidiaries') ownership in corresponding alumina refineries.

3 Pro-rata share of production attributable to UC RUSAL.

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Bauxite mining

(Kt Wet)4 unless

otherwise indicated Interest 2Q15 1Q15

Change, %(QoQ) 2Q14 Change, %(YoY) Jamaica

Alpart 100% - - - Windalco* (Ewartonand

Kirkvine) 100% 478 513 (6.8%) 464 3.1%

Russia

North Urals 100% 661 684 (3.5%) 639 3.4% Timan 100% 965 772 25.0% 721 33.8%

Guinea

Friguia 100% - - - -

Kindia 100% 856 863 (0.8%) 832 2.9%

Guyana

Bauxite Company of

Guyana Inc. 90% 263 291 (9.7%) 346 (24.1%)


Total production 3,2233,124 3.2% 3,003 7.3%

* The operating data in the table is presented on equity-adjusted basis. The Company controlled

93% of Windalco during 2014 and consolidated 100% stake in Windalco in December 2014.

4 Calculated based on pro-rata share of the Company's ownership in corresponding bauxite mines and mining complexes. The total production of the Company's fully consolidated subsidiaries, Timan and Bauxite Company of Guyana Inc., are included in the production figures, notwithstanding that minority interests in each of these subsidiaries are held by third parties.

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Nepheline production results

(Kt Wet) unless otherwise

indicated Interest 2Q15 1Q15

Change, %(QoQ) 2Q14 Change, %(YoY)

Kiya Shaltyr Nepheline

Syenite 100% 1,0401,066 (2.4%) 1,229 (15.3%)


Total production 100% 1,040 1,066 (2.4%) 1,229 (15.3%)

Foil and packaging production results

The aggregate aluminium foil and packaging material production of the Company's plants decreased by 1.6% QoQ to 22 thousand tons in 2Q15 and decreased by 3.6% in comparison with 2Q14, mainly due to decreased demand.
The table below shows the contribution from each facility.

('000 tons) unless

Change, Change,

otherwise indicated

Russia

Interest

2Q15

1Q15

%(QoQ)

2Q14

%(YoY)

Sayanal

100%

10

10

(2.0%)

10

(6.5%)

Ural Foil

100%

4

4

(1.1%)

5

(14.7%)

Sayana Foil

100%

0.8

0.6

30.2%

0.7

12.7%

Armenia

Armenal

100%

8

8

(3.8%)

7

6.6%

Total production

22

22

(1.6%)

23

(3.6%)

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Other business

The Company's aggregate output from its non-core business has shown multidirectional dynamics:

Secondary alloys output increased by 1.7% QoQ to 6,209 tons in 2Q15 and increased by 0.8% in comparison with 2Q14.

Silicon volumes increased by 2.8% QoQ to 15,348 tons in 2Q15 and increased by 17.3% in comparison with 2Q14.

Powder production increased by 4.6% QoQ to 4,594 tons in 2Q15 and decreased by 26.1% in comparison with 2Q14.

The cathodes and fluorides production facilities were mothballed as part of curtailment of inefficient production capacity in 2013.

(tons) unless otherwise indicated 2Q15 1Q15

Change, %(QoQ) 2Q14 Change, %(YoY) Secondary alloys 6,209 6,108 1.7% 6,158 0.8% Cathodes 0 0 - 0 - Silicon 15,348 14,929 2.8% 13,083 17.3% Powder 4,594 4,392 4.6% 6,216 (26.1%) Fluorides 0 0 - 0 - Coal (50%) (Kt)5 3,121 4,709 (33.7%) 3,425 (8.9%) Transport (50%)6 (Kt of

transportation) 1,234 1,449 (14.8%) 1,533 (19.5%)

5 The aggregate coal production attributable to the Company's (and its subsidiaries') 50%

shareholding of LLP Bogatyr Komir.

6 The aggregate coal, sand and iron ore transportation attributed to the Company's 50%

shareholding of LLP Bogatyr Trans.

Coal production results

The aggregate coal production attributable to the Company's (and its subsidiaries')
50% shareholding of LLP Bogatyr Komir decreased by 33.7% QoQ to 3,121 thousand tons in 2Q15 and decreased by 8.9% in comparison with 2Q14. The decrease in volume in 2Q 2015 as compared to 1Q 2015 and as compared to 2Q 2014 was due to lower sales of coal to the Russian customers resulting from softening regional demand and higher competition. The demand softening on the Russian market was partially offset by the increased demand for thermal coal in Kazakhstan.
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Transportation results

The Company owns 50% share in LLP Bogatyr Trans. The aggregate coal, bauxite and limestone volumes transported by LLP Bogatyr Trans by railway decreased by
14.8% QoQ to 1,234 thousand tons in 2Q15 and decreased by 19.5% as compared to
2Q14, as the result of the decrease of coal transportation in Russia.

United Company RUSAL Plc Aby Wong Po Ying

Company Secretary
28 July 2015

As at the date of this announcement, the executive Directors are Mr. Oleg Deripaska, Mr. Vladislav Soloviev and Mr. Stalbek Mishakov, the non-executive Directors are Mr. Maxim Sokov, Mr. Dmitry Afanasiev, Mr. Len Blavatnik, Mr. Ivan Glasenberg, Mr. Maksim Goldman, Ms. Gulzhan Moldazhanova, Mr. Daniel Lesin Wolfe, Ms. Olga Mashkovskaya and Ms. Ekaterina Nikitina, and the independent non-executive Directors are Mr. Matthias Warnig (Chairman), Dr. Peter Nigel Kenny, Mr. Philip Lader, Ms. Elsie Leung Oi-sie and Mr. Mark Garber and Mr. Dmitry Vasiliev.

All announcements and press releases published by the Company are available on its website under the links http://www.rusal.ru/en/investors/info.aspx, http://rusal.ru/investors/info/moex/ and http://www.rusal.ru/en/press-center/press-releases.aspx, respectively.

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