Moscow, 22 May 2025 – Nornickel, the world’s largest producer of palladium and a major producer of nickel, platinum and copper, announces that in a majority vote the Board of Directors resolved to make a recommendation for the Annual General Meeting of Shareholders (AGM) not to pay dividends for the financial year 2024.

This decision was made in order to maintain financial stability and high level of creditworthiness should be unconditional priorities for the Company, which will enable meeting the obligations to all of its stakeholders such as the government, the employees, the local communities, and the shareholders.

The Company emphasizes that its Regulations on Dividend Policy prescribe that a “cyclical nature of the markets for metals produced by the Company and a need for preserving its creditworthiness at a high level” should be taken into account, when calculating the amount of dividends.

The Board has also approved the date of the AGM to be held on 27 June 2025, the AGM record date has been set on 03 June 2025.

Nornickel’s board of directors recommends not to pay dividends for fy 2024 to shareholders