Appointment of Peel Hunt as Joint Broker

16 May 2018

Petropavlovsk PLC

Appointment of Peel Hunt as Joint Broker

Petropavlovsk PLC ("Petropavlovsk" or the "Company") is pleased to announce that it has appointed Peel Hunt LLP as joint broker alongside Canaccord Genuity Limited with immediate effect.

About Petropavlovsk

Petropavlovsk is one of Russia's leading gold mining companies. As at 31 March 2018, the Company had produced approximately 6.9Moz of gold. At this time, Petropavlovsk is in the construction phase of a state of the art pressure oxidation facility to process the Company's substantial refractory resource base. The Company's combined 3,430km2 license holding has untapped resource potential. The Company is a leading employer and contributor to the development of the local economy in the Amur region, Russian Far East, where it has operated since 1994.

Petropavlovsk is a shareholder (31.1%) of IRC Limited and is the guarantor of the US$340 million project finance facility (US$234 million principal outstanding as at 31 March 2018). IRC is a vertically integrated iron ore producer and developer in the Russian Far East and North-eastern China. IRC is listed on the Hong Kong Stock Exchange (ticker: 1029.HK).

Petropavlovsk is listed on the Main Market of the London Stock Exchange (ticker POG:LN).

Enquiries

For more information, please visit www.petropavlovsk.net and www.ircgroup.com.hk or contact:

Peel Hunt LLP

Ross Allister

Richard Crichton

+44 (0) 20 7418 9000