Nornickel announces consolidated production results for 1Q2026

Moscow, 27 April 2026 - Nornickel, the world's largest producer of palladium and a major producer of Class I nickel, platinum and copper, announces preliminary consolidated production results for the first quarter of 2026.

First Vice-President - Chief Operating Officer, Evgeniy Fedorov commented on the operating results,

"In 1Q 2026 nickel production slightly increased, whereas the output of other metals was lower than a year ago. The decrease in production was driven by the high base effect of the first quarter of last year and redistribution of production volumes of commercial products between quarters.

A significant achievement of the reported quarter was that Nornickel's flagship environmental project, the Sulfur Programme, has reached the finish line. Nadezhda Smelter has begun comprehensive testing of its third sulfuric acid production line and fourth neutralization line. As a result, the entire sulfur dioxide capture system is now fully operational. The project will cut the smelter's sulfur dioxide emissions by 90% from the 2020 baseline. The Kola site is also continuing to implement the environmental program that will untimely reduce sulfur dioxide emissions by an addition 10%.

Furthermore, the Polar Division completed a key development stage at the Glubokaya (Deep) shaft of the Skalisty (Rocky)

: a breakthrough was constructed at a depth of 1.5 km, which will transport mined ore to the surface. Bringing the Skalisty mine to its design capacity is one of the Company's key mining projects aimed at increasing production volumes in the medium term.

Commissioning work has begun for a project to improve converter

processing at plant at Kola site. This project aims to change the production process and reduce precious metal losses.

Taking into account all the measures being implemented to improve operational efficiency, the Company reiterates its previously announced production guidance for FY2026".