Glossary
Units of measurement
| bn | Billion |
| CO2 | Carbon dioxide |
| CO2e | CO2 equivalent |
| Gcal | Gigacalorie, a unit of measurement for heating energy |
| Gcal/h | Gigacalorie per hour, a unit of measurement for heating power capacity |
| GJ | Gigajoule |
| GJ/MWh | Gigajoules per megawatt‑hour |
| GJ/t | Gigajoules per tonne |
| GW | Gigawatt (one million kilowatts) |
| GWh | Gigawatt‑hour (one million kilowatt‑hours) |
| h | Hour |
| ha | Hectare |
| kA | Kiloampere |
| km | Kilometre |
| kV | Kilovolt |
| kWh | Kilowatt‑hour, a unit of energy produced |
| m3 | Cubic metre |
| MJ | Megajoules |
| mn | Million |
| MW | Megawatt (one thousand kilowatt), a unit of measurement for electrical power capacity |
| MWh | Megawatt‑hour (one thousand kilowatt‑hours) |
| p. p. | Percentage point |
| RUB | Russian rouble |
| t, tonne | One metric tonne (one thousand kilograms) |
| TWh | Terawatt‑hour |
| USD | US dollar |
Terms and abbreviations
| Adjusted EBITDA | For any period of time, represents the operating result adjusted for depreciation, impairment of non‑current assets and losses on the sale of property, plant and equipment for the relevant period |
| Adjusted net profit | For any period, is defined as the net (loss)/profit adjusted for the net effect of the Company’s investment in Norilsk Nickel, the net effect of derivative financial instruments and the net effect of non‑current assets impairment |
| ALLOW | RUSAL’s aluminium brand with an independently verified low carbon footprint. Carbon footprint is less than 4 t of CO2e per tonne of aluminium (Scope 1 and 2) |
| ALLOW INERTA | RUSAL’s aluminium brand with an independently verified low carbon footprint. Carbon footprint is less than 0.01 t of CO2e per tonne of aluminium (Scope 1 and 2) |
| APAS | Automated Predictive Analytics System |
| APCS | Automated Process Control Systems |
| AS | Aluminium Stewardship Initiative |
| Aughinish | Aughinish Alumina Refinery, Aughinish Alumina, or Aughinish Alumina Limited, a wholly owned subsidiary of RUSAL incorporated in Ireland |
| B1 | B1 Group of Companies |
| B20 | Business 20 |
| BAT | Best Available Technology |
| BEV | Battery Electric Vehicle |
| Board of Directors, BoD | Board of Directors of the Company |
| BoAZ | Boguchany Aluminium Smelter (BoAZ) project involves the construction of a 600,000 tpa greenfield aluminium smelter on a 230‑ha site, located approximately 8 km to the south‑east of the settlement of Tayozhny in the Krasnoyarsk Region and approximately 160 km (212 km by road) from the Boguchany HPP |
| BrAZ | Bratsk Aluminium Smelter or PJSC RUSAL Bratsk, a wholly owned subsidiary of RUSAL incorporated under the laws of the Russian Federation |
| BRICS | Brazil, Russia, India, China and South Africa |
| BrSU | Bratsk State University |
| BSA | Behavioural Safety Audits |
| CACs | Capacity Allocation Contracts |
| CBK | Compagnie des bauxites de Kindia |
| CCS | Carbon Capture and Storage |
| CCA | Competitive Capacity Auction |
| CDP | Carbon Disclosure Project |
| CEO | Chief Executive Officer |
| CHP | Combined Heat and Power |
| CIS | Commonwealth of Independent States |
| CO | Carbon Monoxide |
| Compliance Committee | Compliance Committee of the Company’s Board of Directors |
| COP29 | The 29th United Nations Climate Change conference, held in Baku, Azerbaijan, from 11 to 22 November 2024. |
| Corporate Governance Committee | Corporate Governance Committee of the Company’s Board of Directors |
| CPLC | Carbon Pricing Leadership Coalition |
| CUSIP | Committee on Uniform Securities Identification Procedures |
| Day‑Ahead Market | The competitive selection of price bids of suppliers and buyers conducted by ATS a day before the actual delivery of electricity with the determination of prices and volumes of delivery for each hour of the day |
| Directorate for Control | Directorate for Control and Internal Audit |
| EBIT | Earnings before Interest and Tax |
| EBITDA | Earnings before Interest, Tax, Depreciation and Amortisation |
| Eco‑Soderberg | Eco‑Soderberg is a technology developed by RUSAL to produce aluminium in modernised electrolysers, the main advantage of which is the use of environmentally friendly mass with low pitch content |
| EMS | Environmental Management System |
| EN+, En+, Company, Group | International Public Joint Stock Company EN+ GROUP/IPJSC EN+ GROUP and its subsidiaries, whose results are included in the consolidated financial statements prepared in accordance with the International Financial Reporting Standards |
| EPC | Engineering, Procurement, and Construction Contracts |
| ESBN | ESCAP Sustainable Business Network |
| ESCAP | UN Economic and Social Commission for Asia and the Pacific |
| ESG | Environmental, Social and Governance |
| ETC (RUSAL) | Engineering and Technology Centre |
| EU | European Union |
| EuroSibEnergo | JSC EuroSibEnergo is a 100% subsidiary of En+ Group, managing its power assets. In December 2024, changed its name from JSC EuroSibEnergo to JSC En + Generation |
| FCA | UK’s Financial Conduct Authority |
| FCPA | US Foreign Corrupt Practices Law |
| FFI | Fauna & Flora International |
| FZ | Federal Law |
| G20 | Group of Twenty |
| GDR | Global Depositary Receipt |
| GHG | Greenhouse Gas |
| GHG emissions (Scope 1) | Direct greenhouse gas emissions from sources owned or controlled by the Company, e.g., emissions from combustion in owned or controlled boilers, furnaces, vehicles, etc.; emissions from chemical production in owned or controlled process equipment. Direct CO2 emissions from the combustion of biomass are not included in Scope 1, as they are reported separately |
| GHG emissions (Scope 2) | Indirect energy greenhouse gas emissions. Scope 2 accounts for GHG emissions resulting from the generation of heat and electricity purchased for the Company’s own needs. Purchased heat and electricity is defined as electricity that is purchased or otherwise brought into the organisational boundary of the Company. Scope 2 emissions physically occur at the facility where heat and electricity are generated |
| GHG emissions (Scope 3) | Greenhouse gas emissions from activities of assets not owned or controlled by the Company, but on which it indirectly impacts in its value chain. The emissions include all sources outside the boundaries of Scope 1 and 2, including those associated with the extraction and production of purchased materials, fuels and services, transportation, outsourced activities, waste disposal, etc. |
| GRI | Global Reporting Initiative |
| GSM | General Shareholders Meeting |
| HPP | Hydropower Plant |
| HR | Human Resources Department |
| HSE | Health, Safety and Environment |
| HSE Committee | Health, Safety and Environment Committee |
| IAI | International Aluminium Institute |
| IATF 16949 | IATF 16949 — a quality management system for organisations in the automotive industry, using the Advanced Product Quality Planning (Production Part Approval Process) approach |
| ICS | Internal Control System |
| IEA | International Energy Agency |
| IEC | Industrial Environmental Control |
| IFRS | International Financial Reporting Standards |
| INRTU | Irkutsk National Research Technical University |
| IoT | Internet of Things |
| IPJSC | International Public Joint Stock Company |
| IrkAZ | Irkutsk Aluminium Smelter, a branch of RUSAL Bratsk in Shelekhov (Russia) |
| Irkutskenergo | Irkutsk Public Joint Stock Company of Energetics and Electrification, a power generating company controlled by En+ by more than 30% of Irkutskenergo’s issued share capital |
| ISIN | International Securities Identification Number |
| ISO 14001 | International standard “Environmental management systems — Requirements with guidance for use”, which has been developed by the International Organisation for Standardisation to set criteria for environmental management systems and which is the basis for certification |
| ISO 26000:2012 | International standard “Guidance on social responsibility”, which has been developed by the International Organisation for Standardisation to provide guidance on social responsibility; however, it is not a certification standard |
| ISO 27001:2005 | International standard “Information technology — Security techniques — Information security management systems — Requirements”, which has been developed by the International Organisation for Standardisation to set criteria for information security management systems and which is the basis for certification |
| ISO 45001:2018 | International standard “Occupational health and safety management systems – Requirements with guidance for use”, which has been developed by the International Organisation for Standardisation to set criteria for OHS management systems and which is the basis for certification |
| ISO 50001:2018 | International standard “Energy management systems — Requirements with guidance for use”, which has been developed by the International Organisation for Standardisation to set criteria for energy management systems and which is the basis for certification |
| ISO 9001:2015 | International standard “Quality management systems — Requirements”, which has been developed by the International Organisation for Standardisation to set criteria for quality management systems and which is the only standard for certification in quality management |
| ISU | Irkutsk State University |
| ITD | Information Technology Directorate |
| JSC | Joint Stock Company |
| Kaizen | An approach that promotes continuous process improvement. It is based on creating a corporate culture based on communication and cooperation between employees for incremental process improvements |
| KPI | Key Performance Indicator |
| KrAZ | Krasnoyarsk Aluminium Smelter or JSC RUSAL Krasnoyarsk, a wholly owned subsidiary of RUSAL incorporated under the laws of the Russian Federation |
| KUBAL | Kubikenborg Aluminium AB, a wholly owned subsidiary of RUSAL incorporated in Sweden |
| Listing Rules | The Listing Rules published by the UK’s Financial Conduct Authority in its capacity as competent authority under the Financial Services and Markets Act 2000 (as amended) and the FCA’s Disclosure Guidance and Transparency Rules |
| LLC | Limited Liability Company |
| LTIFR | The Lost Time Injury Frequency Rate calculated by the Group as the sum of fatalities and lost time injuries per 200,000 man‑hours |
| MADI | Moscow Automobile and Road Construction State Technical University |
| Management Team | Executive Directors and Officers of the Company |
| Market Council | A non‑profit organisation formed as a non‑profit partnership uniting, on the basis of membership, electric power entities and large electric power consumers. The tasks of the Council are to ensure the proper functioning of the commercial infrastructure of the market and the effective relationship between the wholesale and retail electricity markets, the creation of favourable conditions for attracting investments in the electric power industry; creating equal conditions for wholesale and retail market participants when developing regulatory documents on the functioning of the electric power industry, and ensuring the self‑regulation of the system of wholesale and retail trade in electric power, capacity, other goods and services permissible in the wholesale and retail electricity markets. The goal of the Council is to ensure the energy security of the Russian Federation, the unity of the economic space, freedom of economic activity and competition in the wholesale and retail electricity markets by balancing the interests of producers and buyers and meeting needs of the society in terms of having a reliable and stable source of electrical energy |
| MBA | Master of Business Administration |
| Metals segment | The Metals segment is represented by UC RUSAL (56.88% owned by En+ Group). The power assets of UC RUSAL are also included into the Metals segment |
| MIIT | Russian University of Transport |
| MPG | Platinum Group Metals |
| Net debt | The sum of outstanding loans, borrowings and bonds less total cash and cash equivalents as at the end of the relevant period |
| New Energy | The New Energy Programme involves large‑scale overhaul and replacement of the core equipment at the Company’s largest Siberian HPPs, i.e., Krasnoyarsk, Bratsk, Irkutsk and Ust‑Ilimsk. The programme provides for the modernisation of hydroelectric generation units and the replacement of runners |
| NkAZ | Novokuznetsk Aluminium Smelter or JSC RUSAL Novokuznetsk, a company incorporated under the laws of the Russian Federation, which is a wholly owned subsidiary of UC RUSAL |
| Nominations Committee | Nominations Committee of the Company’s Board of Directors |
| Norilsk Nickel | MMC NORILSK NICKEL PJSC, incorporated under the laws of the Russian Federation |
| NPO | Non‑Profit Organisation |
| OECD | Organisation for Economic Co‑operation and Development |
| OEM | Original Equipment Manufacturer |
| OFAC | Office of Foreign Assets Control of the US Treasury |
| OFAC Sanctions | The designation by OFAC of certain persons and certain companies which are controlled or deemed to be controlled by some of these persons into the Specially Designated Nationals List |
| OHS | Occupational Health and Safety |
| Ore Reserves | The economically mineable part of a Measured and/or Indicated Mineral Resource. It includes diluting materials and allowances for losses, which may occur when the material is mined. Relevant assessments and studies were carried out taking into account the impact of realistically assumed factors related to mining and metallurgical activity, as well as economic, marketing, social and government factors and the changes caused by them. These assessments demonstrate that extraction could reasonably be justified at the time of reporting. Ore Reserves are sub‑divided in order of increasing confidence into Probable Ore Reserves and Proved Ore Reserves PROBABLE ORE RESERVE The economically mineable part of an Indicated, and in some circumstances, a Measured Mineral Resource. It includes diluting materials and allowances for losses which may occur when the material is mined. Relevant assessments and studies were carried out taking into account the impact of realistically assumed factors related to mining and metallurgical activity, as well as economic, marketing, social and government factors and the changes caused by them. At the time of reporting, these assessments demonstrate that extraction could reasonably be justified PROVED ORE RESERVE The economically mineable part of a Measured Mineral Resource. It includes diluting materials and allowances for losses which may occur when the material is mined. Relevant assessments and studies were carried out taking into account the impact of realistically assumed factors related to mining and metallurgical activity, as well as economic, marketing, social and government factors and the changes caused by them. At the time of reporting, these assessments demonstrate that extraction could reasonably be justified |
| PAH | Polycyclic Aromatic Hydrocarbons |
| PGLZ | Pikalevsky Alumina Refinery |
| PHEV | Plug‑in Hybrid Electric Vehicle |
| Power segment | The Power segment is predominantly comprised of power assets and operations owned by En+ Group. The Power segment engages in all aspects of the power industry, including electric power generation, power trading and supply |
| PPE | Personal Protective Equipment |
| PPP | Public‑Private Partnership |
| QMS | Quality Management System |
| R&D | Research and Development |
| RA | Rating Agencies |
| RAO UES | Unified Energy System of Russia |
| RAS | Russian Academy of Sciences |
| REEV | Range‑Extended Electric Vehicles |
| Remuneration Committee | Remuneration Committee of the Company’s Board of Directors |
| RES | Renewable Energy Sources |
| RREDA | Russia Renewable Energy Development Association |
| RSPP | Russian Union of Industrialists and Entrepreneurs |
| RUDN | Peoples’ Friendship University of Russia |
| RUSAL SAYANAL | JSC RUSAL SAYANAL, a subsidiary of RUSAL incorporated under the laws of the Russian Federation |
| RUSAL, Metals segment | United Company RUSAL Plc, a limited liability company incorporated under the laws of Jersey (56.88% owned by En+) |
| RusHydro | RusHydro PJSC (Public Joint‑Stock Company Federal Hydro‑Generating Company – RusHydro) organised under the laws of the Russian Federation, an independent third party |
| SanPin | Sanitary Rules and Regulations |
| SAP system | Systems Analysis and Programme Development |
| SASB | Sustainability Accounting Standards Board |
| SECR | Streamlined Energy and Carbon Reporting |
| SHL | Computerised standardised testing enabling organisations to evaluate candidates against multiple criteria |
| SAZ | Sayanogorsk Aluminium Smelter or JSC RUSAL Sayanogorsk, a wholly owned subsidiary of the Company, incorporated under the laws of the Russian Federation |
| SFO | Special Financial Organisation |
| SibFU | Siberian Federal University |
| SibVAMI | Siberian Scientific Research and Design Institute of Aluminium and Electrode Industry |
| SIF | Social Insurance Fund |
| Signal | En+ Corporate 24‑hour Hotline |
| SKAD | The largest Russian company producing cast automotive wheels from aluminium alloys |
| SPCC | Spill Prevention, Control, and Countermeasure |
| SPP | Solar Power Plant |
| SSP | Shared Socioeconomic Pathways |
| Tandem perovskite | Class of semiconductors that combines the advantages of organic and inorganic semiconductors, which is a more competitive material for solar cells than silicon |
| TNFD | Taskforce on Nature‑Related Financial Disclosures |
| TPP | Thermal Power Plant |
| UAZ | Urals Aluminium Smelter, a branch of JSC RUSAL Ural |
| UN | United Nations Organisation |
| UN Energy | The United Nations inter‑agency mechanism on energy issues. Its goal is to form a coherent approach to sustainable energy |
| UN Global Compact | United Nations Global Compact |
| UN SDGs | United Nation’s Sustainable Development Goals |
| UNESCO | United Nations Educational, Scientific and Cultural Organisation |
| UNFCCC | United Nations Framework Convention on Climate Change |
| UNIVER | En+ Internal E‑Learning Portal |
| USSR | Union of Soviet Socialist Republics |
| WPP | Wind Power Plant |