| NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i |
| |
| 1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii: | POLYMETAL INTERNATIONAL PLC |
| 1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate) |
| Non-UK issuer | V |
| 2. Reason for the notification (please mark the appropriate box or boxes with an "X") |
| An acquisition or disposal of voting rights | V |
| An acquisition or disposal of financial instruments | |
| An event changing the breakdown of voting rights | V |
| Other (please specify)iii: | |
| 3. Details of person subject to the notification obligationiv |
| Name | Mr. Alexander Nesis |
| City and country of registered office (if applicable) | |
| 4. Full name of shareholder(s) (if different from 3.)v |
| Name | ICT HOLDING LTD POWERBOOM INVESTMENTS LIMITED BOOWPOWER HOLDING LIMITED |
| City and country of registered office (if applicable) | Limassol, Cyprus |
| 5. Date on which the threshold was crossed or reachedvi: | 22/09/2020 |
| 6. Date on which issuer notified (DD/MM/YYYY): | 24/09/2020 |
| 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 issuervii |
| Resulting situation on the date on which threshold was crossed or reached | 19.87% (93,723,049 shares) | 4.12% (19,451,699 shares) | 23.99% | 471,804,467 |
| Position of previous notification (if applicable) | 22.67% (106,953,726 shares) | 5.34% (25,201,699 shares) | 28.01% | |
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