NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.

Press Release                                                                                                                                 28 July 2022

Results and extension of Noteholders' consent solicitation

PJSC Polyus (LSE, MOEX: PLZL) ("Polyus", or the "Company") highlights the announcement made by its indirect wholly-owned subsidiary Polyus Finance Plc ("Issuer") earlier today on the results of the consent solicitation process ("Consent Solicitation") for its outstanding U.S.$800,000,000 5.25% Guaranteed Notes due 2023 ("2023 Notes"), U.S.$500,000,000 4.70% Guaranteed Notes due 2024 ("2024 Notes") and on the extension of the Consent Solicitation for its outstanding U.S.$700,000,000 3.25% Guaranteed Notes due 2028 ("2028 Notes").

The terms of the earlier announced Consent Solicitation are detailed in the Consent Solicitation Memorandum dated 20 July 2022 ("Memorandum"). Capitalised terms used in this announcement but not defined herein have the meanings given to them in the Memorandum.

The Issuer thanks all Noteholders who have responded promptly and participated in the Consent Solicitation and notifies that the Requisite Consents from the Noteholders of the 2023 Notes and 2024 Notes were obtained before the Consent Deadline (27 July 2022 5:00 p.m. (London time)).

Consents were distributed in the following way from outstanding amounts of respective notes:

• 2023 Notes - 76.70%
• 2024 Notes - 75.88%

Consequently, the amendment and waiver of certain terms of the Trust Deeds, Paying Agency Agreements and Terms and Conditions of the Notes have been approved by the Written Resolutions in respect of the 2023 Notes and 2024 Notes.

The Issuer also announces and notifies the Noteholders of the 2028 Notes that it has decided to extend the Consent Deadline from 27 July 2022 (5:00 p.m. (London time)) to 11 August 2022 (5:00 p.m. (London time)).

No further actions are required from Noteholders of the 2028 Notes who have already delivered Consent Instructions in the Consent Solicitation.

All other terms of the Consent Solicitation for the 2028 Notes will remain the same, unless further extended or earlier terminated by the Issuer.

New Expected Timetable:

• Consent Deadline in respect of the 2028 Notes - 11 August 2022 (5 p.m. (London time))

The following table sets forth details of the Notes:

Copies of the Memorandum can be obtained by registering on the Consent Solicitation Website at 

Announcements in connection with the Consent Solicitation will be disclosed by the Issuer on the website of the London Stock Exchange. Copies of all announcements, notices and press releases are available on the Consent Solicitation Website 

Questions and requests for assistance in connection with the delivery of Consent Instruction may be directed to i2 Capital Markets (the Information and Tabulation Agent) at  and at 2.

Questions and requests for assistance in connection with the Consent Solicitation may also be directed to the Investor Relations Department of PJSC Polyus at  and at 7.

Polyus

Polyus is the world's fourth-largest gold mining company by production volumes and the largest gold miner in terms of attributable gold ore reserves. The Company has the lowest production costs among major global gold producers. Its principal operations are located in Siberia and the Russian Far East: Krasnoyarsk, Irkutsk and Magadan regions and the Republic of Sakha (Yakutia).

Investor and Media contact

Victor Drozdov,

Director Communications & Investor Relations (CIR) Department

+7 (495) 641 33 77

Forward-looking statements

This announcement may contain "forward-looking statements" concerning Polyus and/or Polyus group. Generally, the words "will", "may", "should", "could", "would", "can", "continue", "opportunity", "believes", "expects", "intends", "anticipates", "estimates" or similar expressions identify forward-looking statements. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Forward-looking statements include statements relating to future capital expenditures and business and management strategies and the expansion and growth of Polyus' and/or Polyus group's operations. Many of these risks and uncertainties relate to factors that are beyond Polyus' and/or Polyus group's ability to control or estimate precisely and therefore undue reliance should not be placed on such statements which speak only as at the date of this announcement. Polyus and/or any Polyus group company assumes no obligation in respect of, and does not intend to update, these forward-looking statements, except as required pursuant to applicable law.

DISCLAIMER

This announcement must be read in conjunction with the Memorandum. This announcement and the Memorandum contain important information which should be read carefully before any decision is made with respect to the Consent Solicitation. If any Noteholder is in any doubt as to the action it should take or is unsure of the impact of its participation in the Consent Solicitation, it is recommended to seek its own financial advice, including in respect of any tax consequences, immediately from its stockbroker, bank manager, solicitor, accountant or other independent financial or legal adviser. Any individual or company whose Notes are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee must contact such entity if it wishes to participate in the Consent Solicitation. None of the Issuer, the Guarantors, the Trustee, the Information and Tabulation Agent or any director, officer, employee, agent or affiliate of any such person, is acting for any Noteholder, or will be responsible to any Noteholder for providing any protections which would be afforded to its clients or for providing advice in relation to the Consent Solicitation, and accordingly none of the Issuer, the Guarantors, the Trustee, the Information and Tabulation Agent or their respective directors, officers, employees, affiliates, advisers or agents makes any recommendation as to whether Noteholders should provide Consent, or refrain from taking any action in the Consent Solicitation with respect to their Notes, and none of them has authorised any person to make such recommendation. The Information and Tabulation Agent is agent of the Issuer and owe no duty to any Noteholder.

This announcement is for informational purposes only. The Consents are only being solicited pursuant to the Memorandum and only in such jurisdictions as is permitted under applicable law.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact  or visit .