Notification of Major Holdings

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

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

Petropavlovsk PLC

Registered office: 11 Grosvenor Place, Belgravia London, SW1X 7HH

Registered number: 04343841

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

Non-UK issuer

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

An acquisition or disposal of voting rights

X

An acquisition or disposal of financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Details of person subject to the notification obligation

Name

CABS Platform Limited

City and country of registered office (if applicable)

5 Secretary's Lane, Gibraltar, GX11 1AA, Gibraltar, British Overseas Territories

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

Name

City and country of registered office (if applicable)

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

23/04/2018

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

03/05/2018 (please see Additional Information)

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 issuer

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

4.55%

0

4.55%

4.55%

Position of previous notification (if

applicable)

n/a

n/a

n/a

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached

A: Voting rights attached to shares

Class/type ofshares

ISIN code (if possible)

Number of voting rights

% of voting rights

Direct

(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect

(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

Direct

(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect

(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

GB0031544546

150,517,537

0

4.55%

0

SUBTOTAL 8. A

150,517,537

4.55%

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))

Type of financial instrument

Expirationdate

Exercise/Conversion Period

Number of voting rights that may be acquired if the instrument is

exercised/converted.

% of voting rights

SUBTOTAL 8. B 1

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))

Type of financial instrument

Expirationdate

Exercise/Conversion Period

Physical or cash

settlement

Number of voting rights

% of voting rights

SUBTOTAL 8.B.2

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) issuer

X

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

Name

% 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

CABS Platform Limited

4.55%

0%

4.55%

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 information

CABS Platform Limited previously held the shares subject to this notification through nominee Banque SYZ SA, of which a notification was provided to the FCA and the issuer on 9 April 2018.

CABS Platform Limited requested to be considered for registration as a registered shareholder of the same shares, which was approved by the issuer.

Whilst the share certificate issued to CABS Platform Limited is dated 23 April 2018, CABS Platform Limited was only notified on 3 May 2018 that the shares were directly registered in its name, and is making this notification on the same day.

The number of shares CABS Platform Limited previously held through Banque SYZ SA and now holds as a registered shareholder remains unchanged as a result of the transfer.

Place of completion

Gibraltar, British Overseas Territories

Date of completion

3 May 2018