Results of the Extraordinary General Meeting of Shareholders of MMC Norilsk Nickel

MMC Norilsk Nickel announces results of the Extraordinary General Meeting of shareholders (EGM), which took place on March 11, 2011.

As reported earlier, the EGM had been initiated for the second time in less than six months by UC RUSAL Investment Management LLC (subsidiary of UC Rusal Plc), the holder of over 10% stake in the Company. The agenda of shareholder meeting included two items: pre-term termination of powers of the Board members and election of the new Board of Directors of MMC Norilsk Nickel.

The majority of shareholders voted ‘for’ on the first item of the agenda. Thus, the resolution to re-elect the current Board of Directors was approved.

As per voting results on the second item of the agenda the following directors were elected to the new Board of Directors:

1. Sergey Barbashev, CEO – Chairman of the Management Board, Interros Holding Company;
2. Lucian Bebchuk, Professor of Law, Economics and Finance, Director for Corporate Governance Program, Harvard University;
3. Andrey Bougrov, Deputy CEO, member of the Management Board, Interros Holding Company;
4. Alexander Voloshin, Member of the Board of Directors, Public Limited Liability Company Yandex N.V.;
5. Oleg Deripaska, CEO of UC Rusal and Basovy Element Company LLC;
6. Claude Dauphin, Member of the Management Board, Trafigura Beheer B.V. (Group), member of the Management Board, Ecore B.V.;
7. Marianna Zakharova, Deputy CEO for Legal Affairs, member of the Management Board, Interros Holding Company;
8. Larisa Zelkova, Deputy CEO – Director of the Public Relations Development Department, member of the Management Board, Interros Holding Company;
9. Andrey Klishas, President, MMC Norilsk Nickel;
10. Bradford Alan Mills, General Director of Mandalay Resources; Executive Director of Plinian Capital Plc;
11. Ardavan Moshiri, Head of Strategy and Business Development Department, Metalloinvest Trading AG;
12. Maxim Sokov, Director for Strategy and Corporate Development, UC RUSAL;
13. Vladimir Strzhalkovsky, General Director – Chairman of the Management Board, MMC Norilsk Nickel.

The Company is satisfied with EGM voting results, as the new Board of Directors is well-balanced. Experts from the Federal Service for Financial Markets (FSFM) participated in the EGM, and it was conducted in strict compliance with the Russian Law. The Company’s management hopes that the newly elected Board of Directors will operate to the best advantages of MMC Norilsk Nickel, all its shareholders, employees and partners, including customers, contractors and the government.