Polymetal International : Results of the second tranche of the Exchange Offer

NEWS RELEASE

Release time	IMMEDIATE	AIX, MOEX: POLY
Date	6 May 2024

Polymetal International plc

Results of the second tranche of the Exchange Offer

This announcement is being made in accordance with Rules MDR 7.1 - 7.4 of the AIX Market Disclosure Rules.

Further to the Exchange Offer announced on 23 November 2023 and as approved by Shareholders at the General Meeting on 8 December 2023, Polymetal International plc ("Polymetal" or the "Company") announces that a total of 8,347,580 Ordinary Shares (1.76% of the outstanding share capital) have been repurchased by the Company under the second tranche of the Exchange Offer (the "Second Eligible Shares") in consideration for the issuance of the AIX Exchange Shares, on a one-for-one basis. In total, 13,429,659 shares or 2.84% of the outstanding share capital have been repurchased since the beginning of the Exchange Offer.

Following the repurchase of the Second Eligible Shares and the issuance of the corresponding Exchange Shares, the total number of voting rights in the Company remains unchanged and is 473,690,320 Ordinary Shares at par value of US$ 0.03, each carrying one vote. The Company holds 55,044,337 Ordinary Shares in treasury, which do not enjoy any voting or economic rights. Polymetal intends to cancel these shares. However, such a cancellation is contingent upon the relaxation of the restrictions on NSD, and until such time that the restrictions are relaxed, Shares held in treasury by the Company will not be available for re-issue.

The above figure of 473,690,320 Ordinary Shares may be used by shareholders (and others with notification obligations) as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, Polymetal under the Rule MDR3.3 of the AIX Market Disclosure Rules.

The Company reminds that the share exchange continues according to plan and calls on all Eligible Shareholders to tender Eligible Shares prior to 30 September 2024. Shareholders on AIX enjoy the full range of shareholder rights and are not under any restrictions.

Unless otherwise defined herein, defined terms have the same meaning as those attributed to them in the Circular: https://www.polymetalinternational.com/en/investors-and-media/shareholder-centre/general-meetings/.

Further details of the Exchange Offer as well as answers to the frequently asked questions are available at the Company's website: https://www.polymetalinternational.com/ru/share-exchange/.

Enquiries

Investor Relations	Media
Evgeny Monakhov	Yerkin Uderbay
[phone] (UK)	[phone] (Kazakhstan)
	[e-mail]
Kirill Kuznetsov
Alikhan Bissengali
[phone] (Kazakhstan)
[e-mail]

FORWARD-LOOKING STATEMENTS

This release may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements speak only as at the date of this release. These forward-looking statements can be identified by the use of forward- looking terminology, including the words "targets", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "would", "could" or "should" or similar expressions or, in each case their negative or other variations or by discussion of strategies , plans, objectives, goals, future events or intentions. These forward-looking statements all include matters that are not historical facts. By their nature, such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the company's control that could cause the actual results, performance or achievements of the company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the company's present and future business

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NEWS RELEASE

strategies and the environment in which the company will operate in the future. Forward-looking statements are not guarantees of future performance. There are many factors that could cause the company's actual results, performance or achievements to differ materially from those expressed in such forward-looking statements. The company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.

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