Notification of Major Interest in Shares

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

Petropavlovsk PLC

Company Number: 4343841

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

Vailaski Holding Limited

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

Vailaski Holding Limited

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

3 November

6. Date on which issuer notified:

9 November

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

12%

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

GB0031544546

395,491,

398

12.06%

Below 3%

15,165,

880

380, 325 , 518

Below 3%

11.59%

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

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

395,491,398

12.06%

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

Voting rights over 380,325,518 Petropavlovsk PLC shares ensured through a contractual undertaking given to Vailaski Holding Limited by PP Fin Region, a majority shareholder of Asian Pacific Bank, which acquired the Petropavlovsk PLC shares from Vailaski on 3 November 2016.

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

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

13. Additional information:

Marina Michael

14. Contact name:

Marina Michael

15. Contact telephone number:

357 25866000

Note: Annex should only be submitted to the FCA not the issuer

Annex: Notification of major interests in sharesxxii

A: Identity of the persons or legal entity subject to the notification obligation

Full name

(including legal form of legal entities)

Vailaski Holding Limited

Contact address

(registered office for legal entities)

17 Gr. Xenopoulou Street, 3106

Phone number & email

+357 25866000, marina.michael@totalserve.eu

Other useful information

(at least legal representative for legal persons)

Marina Michael

B: Identity of the notifier, if applicable

Full name

Marina Michael

Contact address

17 Gr. Xenopoulou Street, 3106 Limassol, Cyprus

Phone number & email

+357 25866000 marina.michael@totalserve.eu

Other useful information

(e.g. functional relationship with the person or legal entity subject to the notification obligation)

legal representative of the Director

C: Additional information

For notes on how to complete form TR-1 please see the FCA website.