Appointment of Administrators

18 July 2022

Petropavlovsk PLC

Appointment of Administrators

Petropavlovsk PLC ("Petropavlovsk" or the "Company" and, together with its subsidiaries, the "Group") announces that the court has today made an administration order appointing Allister Manson, Trevor Binyon and Joanne Rolls of Opus Restructuring LLP (the "Administrators") as administrators of the Company. In administration, the existing Board of Directors cease to have decision-making powers with immediate effect. These powers transfer to the Administrators who are responsible for the day-to-day running of the Company.

The Company has requested that:

· its ordinary shares; and

· the guaranteed convertible 8.25% bonds due 2024 issued by Petropavlovsk 2010

are cancelled from listing on the Official List of the FCA and from trading on the London Stock Exchange following the appointment of the Administrators. A request has also been made for the cessation of trading of ordinary shares on the Moscow Exchange in due course.

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