OREANDA-NEWS. October 8, 2012. UC RUSAL (SEHK: 486; Euronext: RUSAL/RUAL; Moscow Exchange: RUALR/RUALRS), the world’s largest aluminium producer, announces changes in the composition of its Board of Directors. Mr Barry Cheung resigns as Chairman of the Company with effect from 1 October 2012, but will remain as an independent non-executive director of the Company.

The Board is pleased to announce that Mr Matthias Warnig, an independent non-executive director of the Company, has been appointed as Chairman of the Company with effect from 1 October 2012.

The Board thanks Mr Cheung for his contribution during his tenure of service as the Chairman of the Board. Under his leadership, much work has been carried out in order to improve the Company’s corporate governance, restore the confidence of Asian investors and enhance the Company’s business development in Asian markets.

Mr Warnig has significant public company experience having served on the Board of several leading international companies. He has an excellent knowledge of Russian and international business and an in-depth understanding of the financial, energy and commodity industries. As RUSAL’s Board Chairman, Mr Warnig will continue to promote the Company’s excellence in corporate governance in the interest of all shareholders, and will also support the Company’s development in Europe, currently the key market of RUSAL’s sales.

Biography

Matthias Warnig holds the position of Managing Director of Nord Stream AG (Switzerland) since 2006.

From 1990-2006 he was involved with the financial activities of Dresdner Bank Group in Frankfurt am Main, St. Petersburg and Moscow (he held the positions of President, Chairman of the Management Board and Chief Coordinator of Dresdner Bank Group in CIS).

In 1981 he graduated from the Bruno Leuschner Higher School of Economics, where he specialized in National Economics (qualified economist). From 1993-1995 he studied at Dresdner Bank AG in Bad Homburg (Germany) and in London (UK) where he was awarded a degree in Credit and Risk Management.

Warnig holds the positions of Chairman of the Board of Directors of Transneft, Chairman of the Administrative Board of GAZPROM Schweiz AG, member of VTB Bank Supervisory Board, member of Bank Rossiya Board of Directors, member of Rosneft Board of Directors, member of Supervisory Board of Verbundnetz Gas AG (VNG AG).