About the Report

GRI 2‑3

En+ Group presents its Consolidated Report (the “Report”), an annual document for a wide range of stakeholders that reflects the Company’s key financial metrics and sustainability performance results for the period from 1 January to 31 December 2024 (the “Reporting Period”).

En+ Group regularly reports its sustainability performance, in the form of Sustainability Reports until 2022 and then Consolidated Reports that combine data from the annual report and the sustainability report.

By publishing this Report, En+ Group reiterates its commitment to transparency as the document presents the most reliable and complete information about the Company. The Report contains information about our business model, strategy, investment programme, operational and financial performance, consolidated financial statements, as well as ESG performance. The Report also describes how the Company сomplies with the principles of the UN Global Compact, contributes to the UN Sustainable Development Goals (SDGs) and national goals of the Russian Federation. The Report includes information that the Company believes to be material for stakeholders and the business.

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To ensure credible disclosure, En+ Group prepared its consolidated financial statements for the year ended 31 December 2024 in accordance with IFRS, including an auditor’s report, and engaged B1 as an independent practioners to verify the sustainability data.

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The Report was preliminarily approved by the Company’s Board of Directors on 28 April 2024 (Minutes № 84).

The Report is aligned with the following requirements and recommendations:

• Federal Law No. 39‑FZ On the Securities Market, dated 22 April 1996
• Regulations of the Bank of Russia No. 714‑P On Information Disclosure by Issuers of Issue‑Grade Securities, dated 27 March 2020
• The Corporate Governance Code recommended for use by joint stock companies by the Bank of Russia’s Letter No. 06‑52/2463 dated 10 April 2014 (the “Russian Corporate Governance Code”)
• Global Reporting Initiative (GRI) Standards, including GRI 14 Mining Sector 2024
• Standards of the Sustainability Accounting Standards Board (SASB), including standards for the Metals & Mining and the Electric Utilities & Power Generators industries
• IFRS sustainability disclosure standards
• Technical guidance to comply with the Streamlined Energy and Carbon Reporting (SECR)
• The Aluminium Carbon Footprint Technical Support Document
• A Guide for Issuers: How to Comply with Best Sustainability
• Practices released by the Moscow Exchange
• Guidelines provided by Russia’s Ministry of Economic
• Development for preparing sustainability reports
• Voluntary ESG standard for the energy sector devised by the nonprofit partnership Market Council
• Bank of Russia’s recommendations for public joint stock companies to disclose non‑financial information related to their activities
• Bank of Russia’s recommendations on ESG rating methodology
• Metrics tracked by key ESG ratings

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To ensure data comparability, the Company’s material performance metrics are provided for the last three years (2022–2024). There were no significant changes in the measurement methodology for the metrics in the Reporting Period. Nevertheless, the Report contains some restatements of information from previous years. Comments on the restatements and updated methodologies are included in the text.

Due to rounding, some totals in the tables, charts, and diagrams in this Report may not correspond with the sum of the separate figures. This Report may also contain discrepancies in the calculation of shares, percentages, and total amounts as a result of different rounding methods used.

Reporting boundaries

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In this Consolidated Report, the terms “En+”, “En+ Group”, “EN+ GROUP”, or the “Company” in various forms mean EN+ GROUP IPJSC and its subsidiaries according to IFRS reporting. Their performance results are presented in the Company’s consolidated financial statements prepared in accordance with International Financial Reporting Standards (IFRS). The Sustainable Development and Appendix 3 Additional ESG Data include performance results of the Company and its subsidiaries that are included in the Group’s IFRS consolidated financial statements and have significant ESG impact.

The Report reflects information about the Group’s performance in two segments, Metals (including BoAZ) and Power. The Queensland Alumina Limited joint venture (Australia) is excluded from the reporting boundaries due to the ban on exports of alumina and bauxite to Russia imposed by the Australian government in April 2022. Data on Nikolaev alumina production are excluded from the reporting perimeter due to the suspension of production. Occupational health and safety data of KraMZ LLC and Strikeforce Mining and Resources PLC (SMR) were disclosed within the Metals segment reporting boundaries.

Boundaries of the 2024 Report Unless otherwise stated, the Report covers the Group business units listed below.

Recognition of the 2023 Consolidated Report