Notification of Major Interest in Shares

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

Petropavlovsk PLC

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

An acquisition or disposal of voting rights

YES

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 the notification obligation: iii

Vanguard Precious Metals and Mining Fund

4. Full name of shareholder(s)

(if different from 3.):iv

5. Date of the transaction and date on

which the threshold is crossed or reached: v

1 July 2014

6. Date on which issuer notified:

3 July 2014

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

3%

  8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of

shares

if possible using the ISIN CODE

Situation previous

to the triggering transaction

Resulting situation after the triggering transaction

Number

of

Shares

Number

of Voting Rights

Number

of shares

Number of voting

rights

% of voting rights x

Direct

xi

Direct

Indirect

xii

Direct

Indirect

GB0031544546

6,096,706

6,096,706

5,614,460

5,614,460

2.84%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial

instrument

Expiration date xiii

Exercise/

Conversion Period xiv

Number of voting

rights that may be acquired if the instrument is exercised/ converted.

% of voting

rights

N/A

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

xv, xvi

Resulting situation after the triggering transaction

Type of financial

instrument

Exercise

price

Expiration date xvii

Exercise/

Conversion period xviii

Number of voting rights

instrument refers to

% of voting rights xix,

xx

N/A

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

5,614,460

2.84%

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

N/A

Proxy Voting:

10. Name of the proxy holder:

N/A

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:

14. Contact name:

Vanguard Precious Metals and Mining Fund

c/o The Vanguard Group, Inc. Vanguard_Fund_Compliance@Vanguard.com

15. Contact telephone number:

+001 (610) 669-8989