We are pleased to present to you the Annual Report of MMC Norilsk Nickel and entities comprising the same group of companies (the «Group», «Nornickel», the «Company») for the year ended 31 December 2022. The main controlled entities and PJSC MMC NORILSK NICKEL’s interest in their capital are listed in the 2022 consolidated financial statements in accordance with International Financial Reporting Standards (IFRS).

The Report discloses all aspects of Nornickel’s operations in the context of sustainability. Nornickel has a unique resource base underpinning its strategy of production growth and operational excellence as well as its unprecedented environmental programme. This clean growth strategy not only lays out long-term ore production and capital investment targets but also sets out concrete action plans to reduce the Company’s environmental footprint in its regions of operation.

This Annual Report was prepared by the Investor Relations Department, taking into account the requirements and recommendations of:

  • the Bank of Russia’s Regulations No. 714-p On Information Disclosure by Issuers of Issue-Grade Securities, dated 27 March 2020
  • the Bank of Russia’s Letter No. 06—52/2463 On the Corporate Governance Code, dated 10 April 2014
  • the Bank of Russia’s Information Letter No. IN-06—28/49 On Recommendations for Public Joint Stock Companies to Disclose Non-financial Information Related to Their Activities, dated 12 July 2021
  • the Bank of Russia’s Information Letter No. IN-06—28/96 On Recommendations for the Board of Directors of a Public Joint Stock Company to Consider ESG Factors and Sustainable Development Issues, dated 16 December 2021
  • the Listing Rules of PJSC Moscow Exchange.

The Report discloses financial metrics based on the Group’s IFRS consolidated financial statements for 2022 audited by Kept in accordance with International Standards on Auditing.

THIS ANNUAL REPORT WAS APPROVED by the Annual General Meeting of Shareholders (Minutes No. 1 dated 6 June 2023)

PRE-APPROVED by the Board of Directors (Minutes No. GMK/18 -pr-sd dated 28 April 2023)

ACCURACY OF INFORMATION IS CONFIRMED by the Audit Commission (Opinion dated 26 April 2023)

VLADIMIR POTANIN President, Chairman of the Management Board
SERGEY MALYSHEV Senior Vice President — Chief Financial Officer