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[ferro-alloys.com]In light of the public statements by the representatives of the Botswana government, the Norilsk Nickel Group (“Nornickel” or the “Group”) reiterates its intention to resolve the dispute on mutually beneficial terms and waits for them to be confirmed by Botswana.

The negotiations with the Botswana government and BCL’s liquidator have entered their final stage, but the documents formalising the agreements have not yet been signed, and the respective calculations are still pending. The Group is confident that the negotiations will wind up soon, leaving no misunderstanding between Nornickel and Botswana.

In 2017, Nornickel filed a lawsuit against Botswana to recover USD 271 m (plus damages and costs) in relation to the failure of the state-owned BCL to meet its obligations on the purchase of a 50% interest in the Nkomati mine in South Africa and the USD 6.4 m arising from the sale of the Tati mine in Botswana.

The terms of the negotiations are confidential.

• [Editor:王可]