Polymetal International plc: TR-1 notification

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii:

Polymetal International plc
LEI 213800JKJ5HJWYS4GR61

1b. Please indicate if the issuer is a non-UK issuer  (please mark with an "X" if appropriate)

Non-UK issuer

X

2. Reason for the notification (please mark the appropriate box or boxes with an "X")

An acquisition or disposal of voting rights

An acquisition or disposal of financial instruments

An event changing the breakdown of voting rights

X

Other (please specify)iii:

3. Details of person subject to the notification obligationiv

Name

Public Joint-Stock Company "Bank Otkritie Financial Corporation"

City and country of registered office (if applicable)

Moscow, the Russian Federation

4. Full name of shareholder(s) (if different from 3.)v

Name

Public Joint-Stock Company "Bank Otkritie Financial Corporation" and Otkritie Broker JSC

City and country of registered office (if applicable)

Moscow, the Russian Federation

5. Date on which the threshold was crossed or reachedvi:

03/12/2018

6. Date on which issuer notified (DD/MM/YYYY):

06/12/2018

7. Total positions of person(s) subject to the notification obligation

% of voting rights attached to shares (total of 8. A)

% of voting rights through financial instruments
(total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights of issuervii

Resulting situation on the date on which threshold was crossed or reached

6.93%

(32,525,673 shares)

6.93%

(32,525,673 shares)

32,525,673

Position of previous notification (if

applicable)

7.56%

(32,525,673 shares)

7.56%

(32,525,673 shares)

9. Information in relation to the person subject to the notification obligation (please mark the

applicable box with an "X")

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii

Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv (please add additional rows as necessary)

X

Namexv

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

The Central bank of the Russian Federation

6.93%

6.93%

Public Joint Stock Company Bank Otkritie Financial Corporation

6.93%

6.93%

Otkritie Trading LLC

1.30%

1.30%

Otkritie Broker JSC

1.30%

1.30%

10. In case of proxy voting, please identify:

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional informationxvi

1. The Central bank of the Russian Federation(the Bank of Russia) owns 99.999999999% of issued share capital of Public Joint Stock Company Bank Otkritie Financial Corporation (hereinafter the Bank). The Bank owns 99.99% of issued share capital of  Otkritie Broker JSC through 100% subsidiary, Otkritie Trading LLC.

2. The Bank of Russia is a special public and legal institution that has the exclusive right to issue currency and organise its circulation. The Bank of Russia is not a body of state power, but its powers are, in effect, the functions of a body of state power. The Bank of Russia has no ultimate controlling natural person or legal entity.

3. Polymetal issued additional 13,486,579 shares that represent 2.9% of its increased share capital. The event changed the breakdown of voting rights.

Place of completion

Moscow, Russia

Date of completion

06/12/2018