Refinancing update

31 October 2016

Petropavlovsk PLC

Refinancing update

Petropavlovsk PLC ("Petropavlovsk" or the "Company" or, together with its subsidiaries, the "Group") today issues a further update on its discussions with the Group's Russian lenders.

As foreseen in our earlier announcement at 07:00 today, Petropavlovsk has pleasure in announcing that the necessary documentation with VTB has now been signed and the Conditions Precedent satisfied.

As stated this morning, the Company expects to be in a position to confirm details of the refinancing shortly.

ENQUIRIES