En+ Group's Metals segment and Mingtai Aluminium partner to produce low-carbon products

MOSCOW,Jan. 19,2021 --RUSAL,metal business of En+ Group,the world's leading producer of low carbon aluminium and largest private sector generator of hydropower,is pleased to announce its partnership with Henan Mingtai Aluminum Co.,Ltd,a large-scale modern aluminium processing enterprise,to deliver low-carbon aluminium products in response to the growing market demand.

This partnership will build on both companies' expertise,underpinning the drive towards low-carbon future. RUSAL's strategic supply of low-carbon primary aluminium under ALLOW brand will be delivered to Mingtai's plants,including the new Gwangyang rolling mill in South Korea. The Gwangyang complex will commence its operations in Q3 2021,delivering products with reduced carbon footprint.

ALLOW,crafted using renewable hydropower generated by En+ Group's assets,will enable Mingtai Aluminium to offer products with a carbon footprint several times lower than the industry average. En+ Group is the world's largest producer of low-carbon aluminium. ALLOW average carbon footprint of 2.4 tonnes of CO2 equivalent per tonne of aluminium produced (Scope 1&2,at smelter). This is in line with the evolving market requirement for low-carbon aluminium of no more than 4 tonnes of CO2 equivalent per tonne of aluminium produced,which is several times lower than the global average of around 12 tonnes (Scope 1&2,at smelter).

In addition to this,Mingtai and RUSAL will work together as part of a collaborative undertaking on their research and development activities to produce innovative alloys and develop new mould dimensions.

Lord Barker,Executive Chairman of the Board of Directors of En+ Group,said:

"I am pleased that En+ Group Metals segment represented by RUSAL has partnered with Mingtai. This clearly indicates China and South Korea's forward-looking drive towards carbon neutrality. This is a transformational business opportunity generated by the growing market demand for more sustainable aluminium products. This partnership will deliver excellent quality while providing substantial societal and environmental benefits."

About En+ Group

En+ Group is the world's leading international vertically integrated aluminium and power producer. The Company combines power plants with a total installed capacity of 19.6 GW (including 15.1 GW of hydro power assets),and 3.9 mt of annual aluminium production capacity (through a controlling stake in RUSAL,the world's largest aluminium producer after China in 2018) which is the major consumer of En+ Group's hydroelectricity.