Nyrstar NV

Major Shareholding Notification • Mar 25, 2011

FORM TR-1 BE PARTI
1) Status of the notification
	Final
2) Issuer
Identification number 0888-728-945	Name NYRSTAR
3) Reason for the notification
	An acquisition or disposal of voting securities or voting rights
4) Notification by
	A parent undertaking or a controlling person
5) Persons subject to the notification requirement
	Name (& legal form for legal persons)	Address (for legal persons)
	UBS AG	Bahnhofstrasse 45, CH - 8001 Zurich
	6) Persons that dispose of, voting rights (Only to be filled in if art. 7 of the Law applies)
	Name (& legal form for legal persons)	Address (for legal persons)
	Please continue entering the information in part II concerning the	oveni i persons referred to in points 5 and 6
7) Date on which the threshold is crossed
	17.03.2011	(DD/MM/YYYY)
8) Threshold that is crossed (in %)
	5
	If the holding has fallen below the lowest threshold, you have the option of not filling in point 10
9) Denominator
	100'013'262
	Please enter the denominator before filling in the data

10) Notified details

A) Voting rights	Previous notification	After the transaction
	# of voting rights	# of voting rights		% of voting rights
Holders of voting rights		Linked to securities	Not linked to the securities	Linked to securities	Not linked to the securities
UBS AG	657'671	1'904'856		1.90%
CCR Asset Management	1'004'714		1'168'803		1.17%
UBS Fund Management Switzerland	418'541		419'716		0.42%
UBS Fund Services (Luxembourg) AG	290'229		573'248		0.57%
UBS Global Asset Management (Americas) Inc	25'574		66'109		0.07%
UBS Global Asset Management (Deutschland) GmbH	15'082		131'189		0.13%
UBS Global Asset Management (Japan) Ltd	2'379		32'220		0.03%
UBS Global Asset Management (UK) Limited	676'197		1'125'363		1.13%
UBS O'Connor Limited			146'215		0.15%
subtotal Tamman Manazarta	3'090'387	1'904'856	3'662'863
	TOTAL	1'904'856	3'562'863	1.90%	3.66%

Start with "groups" of holders. Calculate subtotals and then finish with the
"Dersons who are "alone".
"The totals, subtotals and % will be updated once you have clicked on
CALCULATE>

B) Equivalent financial instruments	After the transaction
Holders of equivalent financial instruments	Type of financial instrument	Expiration date	Exercise period or date	# of voting rights that may be acquired if the instrument is exercised	% of voting rights
and the company	ਾਮ ਸਾਲ ਦਾ ਰਾਜ ਸਿਹ ਾ an Grand Congress of the kolu postoj na preklada se postaj	and the pro-
	TOTAL		(in relation to all expiration dates)	o	0.00%

W.

The totals will be updated once you have clicked on

TOTAL (Voting rights & Equivalent financial linstruments)		1 # of voting rights % of voting rights
EXALCULATE	5'567'719	5.57%

11) Chain of controlled undertakings through which the holding is effectively held, if applicable

Please describe, or join a diagram in attachment

Please see document attachment

12) In case of proxy voting for only one GM

Holder

_________ . CONTRACTOR CONTRACTOR . and a control CONTRACTOR . . and the control .		. STATISTICS Contract Contract Contract ALCO . . Service the company of the company of . 2012 .		. $\sim$ $\sim$ $\sim$ . . .
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------	--	-------------------------------------------------------------------------------------------------------------------------------------------------------------------------	--	------------------------------------------	--

13) Additional information

A) Convertible bonds and rights to subscribe to voting securities not yet issued
Holder	Type of financial instrument		Expiration date (DD/MM/YYYY)	Exercise/Conversion period or date	Number	# of voting rights that may be acquired if the instrument is exercised/converted
UBS AG	Rights		In.a.	25.02.2011-11.03.2011	218'267	152'787
	Rights		In.a.	25.02.2011-11.03.2011	390'000	273'000
UBS Fund Management Switzerland	Rights		n.a.	25.02.2011-11.03.2011	65'140	45'598
UBS Fund Services Luxembourg UBS O'Connor LLC	Convertible instrument		n.a.	10.07.2009-26.06.2014	84	667'727
B) Shares without voting rights
Holder	Number
C) Remarks
All legal entities under item 10.A apart from UBS AG are acting as custodians and they can exercise the related voting rights at their own discretion in the absence of specific instructions from the securities holders (wit the meaning of Article 7, para 1, 4° Law 2/05/2007)
Done at	Opfikon, Switzerland
On		25.03.2011	(DD/MM/YYYY)
Name & capacity
	Nemanja Pantic, Associate Director			Signature

Hendrik Marenbach, Authorized Officer

Signature

Hrall 2

$\frac{1}{2}$ , $\frac{1}{2}$

FORM TR-1 BE PARTII

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Contact person for legal persons
F-mail	'0041 44 239 62 08 nemanja-n.pantic@ubs.cor Nemanja Pantic
Phone number
registered office for legal persons Address	c/o Nemanja Pantic, Europastrasse 1, CH - 8152 Opfikon
egal form for Vame	ersons

The personal data provided via this form will be processed by the CBFA (Congresstraat/rue du Congrès 12-14, 1000 Brussels) in accordance with the Law of 8 December
1992 on the protection of privacy as regards the processin

Chain of Controlled Undertakings through which the shares are effectively held:

Please note that the chain of control below indicates the ultimate/effective holders in bold font, whereas the legal entities indicated in normal font hold the shares indirectly via their subsidiaries.

UBS AG (directly)

UBS AG indirectly through

• UBS (Luxembourg) S.A., 33a Avenue J.F. Kennedy, 1855 Luxembourg, Luxembourg
• UBS Global Asset Management Holding (No. 2) Ltd, 21 Lombard Street, London EC3V 9AH, United Kingdom indirectly through
• UBS Global Asset Management Holding Ltd, 21 Lombard Street, London EC3V 9AH, United $\Omega$ Kingdom indirectly through
  • UBS Global Asset Management (UK) Ltd, 21 Lombard Street, London EC3V 9AH, United Kingdom
• UBS Fund Management (Switzerland) AG, Brunngässlein 12, 4052 Basel, Switzerland
• UBS Fund Services (Luxembourg) S.A., 33A avenue J.F. Kennedy, 1855 Luxembourg
• UBS International Holdings BV, Herengracht 600, 1017 CJ Amsterdam, Netherlands indirectly through
• UBS Holding (France) SA, 65 Rue de Courcelles, 75008 Paris, France indirectly through $\circ$ CCR Asset Management, 44 rue de Washington, 75008 Paris, France)
• UBS Beteiligungs-GmbH & Co. KG Stephanstrasse 14 16, 60313 Frankfurt am Main Germany indirectly through
• UBS Global Asset Management (Deutschland) GmbH, Stephanstrasse 14 16, 60313 Frankfurt am Main Germany
• UBS O'Connor LLC, c/o National Corporate Research Ltd, 9 East Loockerman St, Dover DE 1990, USA
• UBS O'Connor Limited, 21 Lombard Street, London EC3V 9AH, United Kingdom
• UBS Global Asset Management (Japan) Ltd, Otemachi First Square, 5-1 Otemachi 1-chome Chiyoda-ku, Tokyo 100-0004 Japan
• UBS Americas Inc., Corporation Service Company, 2711 Centerville Road, Suite 400, Wilmington 19808, Delaware, USA indirectly through
• UBS Global Asset Management (Americas) Inc., The Corporation Trust Company, $\Omega$ Corporation Trust Center, 1209 Orange Street, Wilmington DE 19801, Delaware, USA