Holding(s) in Company

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

Petropavlovsk plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

✓

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to thenotification obligation: iii

Ashmore Investment Management LimitedAshmore Investment Advisors Limited

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

ARIA Co Pty Ltd as trustee for the ARIA Alternative Assets Trust

Ashmore Emerging Markets Corporate High Yield Fund Limited

Ashmore Funds, a Massachusetts Business Trust, on behalf of Ashmore Emerging Markets Corporate Debt Fund

Ashmore SICAV in respect of Ashmore SICAV Emerging Markets High Yield Corporate Debt Fund

Ashmore SICAV in respect of Ashmore SICAV Emerging Markets Corporate Debt Fund

City National Rochdale Fixed Income Opportunities Fund

Northrop Grumman Pension Master Trust

Ashmore Emerging Markets Distressed Debt Fund Limited

Ashmore EM Russian Debt Fund IC Limited

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

20 August 2015

6. Date on which issuer notified:

24 August 2015

7. Threshold(s) that is/are crossed orreached: vi, vii

5%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

Ordinary shares

Shareholders managed by Ashmore Investment Advisors Limited

35,700,648

35,700,648

32,644,035

32,644,035

0.996%

Shareholders managed by Ashmore Investment Management Limited

117,302,128

117,302,128

107,258,976

107,258,976

3.272%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Convertible Bond

£0.0826/ US$0.1253

18th March 2020

from 28 April 2015 to 6 business days before maturity on 18th March 2020

22,543,648

Nominal

Delta

0.688%

Total (A+B+C)

Number of voting rights

Percentage of voting rights

162,446,659

4.955%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

Ashmore Investment Advisors Limited acts as investment manager with full investment discretion and effective voting control of the following entities, which hold Ordinary Shares in the issuer:

· Ashmore Emerging Markets Corporate High Yield Fund Limited

· Ashmore Funds, a Massachusetts Business Trust, on behalf of Ashmore Emerging Markets Corporate Debt Fund

Ashmore Investment Advisors Limited acts as investment manager with full investment discretion and effective voting control of the following entities, which hold Convertible Bonds convertible into Ordinary Shares of the issuer:

· Ashmore Emerging Markets Distressed Debt Fund Limited

· Ashmore EM Russian Debt Fund IC Limited

Ashmore Investment Management Limited acts as investment manager with full investment discretion and effective voting control of the following entities, which hold Ordinary Shares in the issuer:

· Aria Co Pty Ltd as trustee for Aria Alternative Assets Trust

· Ashmore SICAV in respect of Ashmore SICAV Ashmore Emerging Markets High Yield Corporate Debt Fund

· Ashmore SICAV in respect of Ashmore SICAV Emerging Markets Corporate Debt Fund

· City National Rochdale Fixed Income Opportunities Fund

· Northrop Grumman Pension Master Trust

Ashmore Investment Management Limited acts as investment manager with full investment discretion and effective voting control of the following entities, which hold Convertible Bonds convertible into Ordinary Shares the issuer:

· Northrop Grumman Pension Master Trust

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will ceaseto hold:

N/A

12. Date on which proxy holder will cease to holdvoting rights:

N/A

13. Additional information:

14. Contact name:

Alexandra Autrey

15. Contact telephone number:

+44 20 3077 6000