EN+ AGREED CERTAIN FEE WAIVERS WITH CITIBANK, N.A.

EN+ GROUP IPJSC ANNOUNCES CERTAIN FEE WAIVERS AGREED WITH CITIBANK, N.A.

25 February 2020 - EN+ GROUP IPJSC (the "Company") (LSE: ENPL; MOEX: ENPL; MOEX: ENPG), announces that Citibank, N.A., as depositary (the "Citi" or the "Depositary") under the Company's global depositary receipts program, has agreed to waive:

a) issuance fees in respect of any of the Company's global depositary receipts ("GDRs") issued during the period starting from 00:01 (London time) on 25 February 2020 and ending at 23:59 (London time) on 24 April 2020; and

b) cancellation fees in respect of any GDRs cancelled during the period starting from 00:01 (London time) on 25 February 2020 and ending at 23:59 (London time) on 25 March 2020.

In order to be eligible for the relevant fee waiver, investors will be required:

a) in the case of a request for the issuance of GDRs, to deliver ordinary shares to the Depositary by no later than 23:59 (London time) on 24 April 2020; and

b) in the case of a request for the cancellation of GDRs, to deliver the relevant GDRs to the Depositary by no later than 23:59 (London time) on 25 March 2020.

Investors and prospective investors are advised to consult with their legal, financial, tax and strategic advisers regarding the above. The Company will provide any necessary further updates on the above-discussed matters as soon as possible.

For further information, please contact:

For media: For investors:

Tel: +7 495 642 79 37 Tel: +7 (495) 642 7937

Email: [email protected] Email: [email protected]

Hudson Sandler LLP Citi Depositary Receipt Services

Andrew Leach Tel: +1-212-723-5435

Tel: +44 (0) 20 7796 4133 Email: [email protected]

Email: [email protected]

This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Group's business, results of operations, financial position, liquidity, prospects, growth or strategies. Forward-looking statements speak only as of the date they are made.