NOTIFICATION OF MAJOR HOLDINGS

NOTIFICATION OF MAJOR HOLDINGS

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

PETROPAVLOVSK PLC

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

Non-UK issuer

2. Reason for the notification (please mark the appropriate box or boxes with an "X")

An acquisition or disposal of voting rights

An acquisition or disposal of financial instruments

An event changing the breakdown of voting rights

X

Other (please specify):

3. Details of person subject to the notification obligation

Name

Prosperity Capital Management Limited

City and country of registered office (if applicable)

P.O. Box 10448

Gardenia Court, Camana Bay

Grand Cayman, KY1-1004, Cayman Islands

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

Name

The Russian Prosperity Fund

The Prosperity Cub Fund

The Prosperity Quest Fund

Prosperity Capital Management SICAV

2384908 Ontario Limited

City and country of registered office (if applicable)

The Russian Prosperity Fund - Windward 1, Regatta Office Park, Grand Cayman, Cayman Islands;

The Prosperity Cub Fund - Windward 1, Regatta Office Park, Grand Cayman, Cayman Islands;

The Prosperity Quest Fund - Windward 1, Regatta Office Park, Grand Cayman, Cayman Islands;

Prosperity Capital Management SICAV - 15, Avenue J.F. Kennedy, L-1855, Luxembourg;

2384908 Ontario Limited - 5650 Yonge Street, Toronto, Ontario M2M 4H5 Canada

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

20 October 2020

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

20 October 2020

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 issuer

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

10,98%

10,98%

3,955,788,773

Position of previous notification (if

applicable)

11,61%

11,61

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

A: Voting rights attached to shares

Class/type ofshares

ISIN code (if possible)

Number of voting rights

% 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)

GB0031544546

434,417,617

10.98 %

SUBTOTAL 8. A

434,417,617

10.98 %

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

Type of financial instrument

Expirationdate

Exercise/Conversion Period

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

exercised/converted.

% of voting rights

SUBTOTAL 8. B 1

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

Expirationdate

Exercise/Conversion Period

Physical or cash

settlement

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) issuer

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 entity (please add additional rows as necessary)

X

Name

% 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

Prosperity Capital Management (UK) Limited

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 information

Comment regarding Prosperity Capital Management (UK) Limited: Prosperity Capital Management Limited is the sole shareholder of Prosperity Capital Management (UK) Limited that acts as investment manager of Russian Capital Management SICAV

Place of completion

Cayman Islands

Date of completion

20 October 2020