Resignation of Non-Executive Director

30 July 2019

Petropavlovsk PLC

Resignation of Mr Bektas Mukazhanov, Non-Executive Director, Petropavlovsk PLC

Petropavlovsk PLC ('Petropavlovsk' or 'the Company') announces that the Board has today accepted the resignation of Mr Bektas Mukazhanov, Non-Executive Director, Petropavlovsk, with immediate effect.

Mr Mukazhanov, who was appointed as a Non-Executive Director of the Company on 27 July 2018, was an Investment Advisor at Fincraft Holdings Ltd, the Company's major shareholder.

As announced on 16 July 2019, Fincraft Resources JSC has sold the entire share capital of Fincraft Holdings Ltd to Limited Liability Company Research and Production Association Altair and this has led to Mr Mukazhanov's decision to resign. Fincraft has been a long-term shareholder of the Company joining the share register in December 2017.

Dr Pavel Maslovskiy, CEO, comments:

"I would personally like to thank Bektas for his informed and constructive contribution to the Board during his period as a Director.

I would also like to extend my thanks, and that of the Board, to Mr Kenges Rakishev, and to Fincraft, for their valued support to the Company.

The Board welcomes our new major Shareholder and looks forward to engaging with them and to establishing a constructive relationship."

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