PLZL.L Regulatory News (PLZL)

Press Release 7 May 2019

PJSC Polyus

AGM results

PJSC Polyus (LSE, MOEX: PLZL) ("Polyus", or the "Company") announces the results of its Annual General Meeting held on 06 May 2019 ("AGM").

The resolutions made at the AGM included the following:

1. To approve the Annual Report and the financial results of PJSC Polyus for the full year 2018.

2. To approve full year 2018 dividends of 36,480,756,857.56 Russian roubles.

The final dividend payment has been approved at 143.62 Russian roubles per ordinary share, as earlier recommended by the Board of Directors.

The dividend amount is equivalent to approximately 2.22 U.S. dollars per ordinary share or 1.11 U.S. dollars per depositary share (with two depositary shares representing interest in one ordinary share).

The total recommended dividend payout for the second half of 2018 will amount to 19,129,707,181.60 Russian roubles and correspond to approximately 296 million U.S. dollars[i].

The total dividend payout for the full year of 2018 will correspond to approximately 560 million U.S. dollars. Polyus' current dividend policy suggests the total dividend payout for the full year 2018 as the higher of 30% of the Company's EBITDA or 550 million U.S. dollars. This amount includes 264 million U.S. dollars paid out in form of dividend for the first half of 2018.

16 May 2019 has been approved as the dividend record date.

3. To elect the following members of the Board of Directors ("Board"):

o Pavel Grachev

o Maria Gordon

o Edward Dowling

o Said Kerimov

o Sergei Nossoff

o Vladimir Polin

o Kent Potter

o Mikhail Stiskin

o William Champion

Independent Directors account for 4 seats out of 9 on the Board of Directors. Independent Directors chair all the Committees of the Board. The Board of Directors has re-elected Edward Dowling Chairman of the Board.

4. To approve FinExpertiza LLC as the Company's RAS auditor for 2019.

5. To join the Association 'National Global Compact Network on Implementation of Responsible Business Principles in Business Practice'.

It is an association of Russian participants of UN Global Compact, a global initiative uniting companies that adhere to a set of principles, which include supporting and respecting the rights and interests of employees as well as internationally proclaimed human rights, protecting the environment, and opposing corruption in all its forms. Polyus has become a signatory of the UN Global Compact earlier in 2019.

Polyus

Polyus is the largest gold producer in Russia and one of the top five gold miners globally with the lowest cost position. Based on its 2018 Ore Reserves and Mineral Resources, Polyus group ranks third by attributable gold reserves among the world's largest gold mining companies.

The Polyus group's principal operations are located in Krasnoyarsk, Irkutsk and Magadan regions and the Republic of Sakha (Yakutia).

Enquiries

Investor contact

Victor Drozdov, Director Investor Relations

+7 (495) 641 33 77

drozdovvi@polyus.com

Media contact

Victoria Vasilyeva, Director Public Relations

+7 (495) 641 33 77

vasilevavs@polyus.com

Forward looking statement

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.