TR-1: Notification of major interest in shares

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

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

Polymetal International plc, LEI 213800JKJ5HJWYS4GR61

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

Non-UK issuer

X

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

X

Other (please specify)iii:

3. Details of person subject to the notification obligationiv

Name

Public Joint-Stock Company "Bank Otkritie Financial Corporation"

City and country of registered office (if applicable)

Moscow, the Russian Federation

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

Name

Public Joint-Stock Company "Bank Otkritie Financial Corporation" and Otkritie Broker JSC

City and country of registered office (if applicable)

Moscow, the Russian Federation

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

29/08/2017

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

02/10/2017

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 issuervii

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

5.31

2.25

7.56

32,525,673

Position of previous notification (if

applicable)

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

A: Voting rights attached to shares

Class/type ofshares

ISIN code (if possible)

Number of voting rightsix

% 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)

JE00B6T5S470

16,781,422

6,079,048

3.90

1.41

SUBTOTAL 8. A

22,860,470

5.31

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

Type of financial instrument

Expirationdatex

Exercise/Conversion Periodxi

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

exercised/converted.

% of voting rights

Repo

9,665,203

2.25

SUBTOTAL 8. B 1

9,665,203

2.25

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

Expirationdatex

Exercise/Conversion Period xi

Physical or cash

settlementxii

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) issuerxiii

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 entityxiv (please add additional rows as necessary)

X

Namexv

% 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

Public Joint Stock Company Bank Otkritie Financial Corporation

7.56%

7.56%

Otkritie Trading LLC

1.41%

1.41%

Otkritie Broker JSC

1.41%

1.41%

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 informationxvi

1. The Bank of Russia (the Central bank of the Russian Federation) appointed provisional administration to manage Public Joint-Stock Company Bank Otkritie Financial Corporation ("the Bank") to improve financial stability of the Bank. The provisional administration replaced the executive bodies of the Bank and is composed of the Bank of Russia's officers and the Banking Sector Consolidation Fund Management Company's employees. The provisional administration has the voting rights over the shares of Polymetal International plc held by the Bank.

2. The Bank owns 99.99% of issued share capital of Otkritie Broker JSC through 100% subsidiary, Otkritie Trading LLC. 0.01% of Otkritie Broker JSC is owned directly by Otkritie Holding JSC.

Place of completion

Moscow, Russia

Date of completion

02/10/2017