Rust projectile ballistics include both gravity acceleration and aerodynamic drag:
$$V_{t+1} = V_t \times (1.0 - \text{drag} \cdot dt) + (0, -9.81 \cdot \text{gravityModifier}, 0) \cdot dt$$
For L96 / Bolt Action with High Velocity Ammo:
InitialVelocity = 750.0fgravityModifier = 0.75fdrag = 0.005f
Applying numerical Euler integration over 30 simulation steps predicts exact sniper headshots at 400m+ distances!