PJSC Chelyabinsk Zinc Plant - Further re Statement re CZP's GDR Programme Termination

PJSC Chelyabinsk Zinc Plant - Further re Statement re CZP's GDR Programme Termination

PR Newswire

London, June 1

NEWS RELEASE

For Immediate Release - June 1, 2018

THIS NOTICE IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If any GDR Holder (as defined below) is in any doubt as to the contents of this notice or the action it should take or is unsure of the impact of the matters described herein, such GDR Holder is advised to seek its own financial and legal advice, including in respect of any tax consequences, immediately from its stockbroker, bank manager, legal adviser, accountant or other independent financial or legal adviser. None of the Company, UMMC or the Depositary is providing GDR Holders with any legal, business, tax or other advice in this notice.

Public Joint-Stock Company Chelyabinsk Zinc Plant

(the "Company")

Purchase of the Company's Shares (the "Shares") Represented by the Global Depositary Receipts Outstanding Under the Company's Global Depositary Receipts Programme (the "GDR Programme")

Notice is hereby given to holders ("GDR Holders") of the global depositary receipts issued pursuant to the Deposit Agreement (the "GDRs"), that further to the Company's announcement on 25 May 2018 (the "25 May Announcement"), a purchase and sale agreement has been entered into between Open Joint Stock Company "Ural Mining and Metallurgical Company" ("UMMC") (being the shareholder of the Company which, together with its affiliates, holds a controlling stake in the Company) and the Depositary with respect to the procedures described in paragraph (iii) of the section entitled "Options available to GDR Holders" of the 25 May Announcement.

Accordingly, UMMC will be the Purchaser (as defined in the 25 May Announcement) and will purchase from the Depositary all of the Shares represented by the GDRs outstanding as at the GDR Programme Termination Date in accordance with the terms described in paragraph (iii) of the section entitled "Options available to GDR Holders" of the 25 May Announcement.

A copy of the 25 May Announcement can be accessed here: http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/CHZN/13656610.html

Definitions

Capitalised terms used in this notice but not defined have the meanings given to them in the Deposit Agreement dated 20 September 2006 between the Company and the Depositary relating to the GDR Programme (the "Deposit Agreement") and the 25 May Announcement.

Enquiries

For further information, please visit zinc.ru or contact:

The Company's Department of Legal and Property Relations: [e-mail]

About the Company

Chelyabinsk Zinc Plant is the leading Russian zinc producer. In 2017 the plant produced 183,002 tonnes of saleable SHG zinc.

According to consolidated IFRS accounts, revenue in 2017 was RUB 38,548 mln and EBITDA was RUB 9,266 mln.

CZP ordinary shares are traded on the Moscow exchange under ticker CHZN and Global Depositary Receipts (GDR) are traded on the London Stock Exchange under ticker CHZN.

Investor and Media Contacts:

Natalya Vasilieva, PR, [e-mail]

Tel:[phone]