Response to Press Speculation

17 February 2020

Petropavlovsk PLC

Response to Press Speculation

Petropavlovsk PLC ("Petropavlovsk" or "the Company") notes the recent press speculation regarding a dual-listing on the Moscow Stock Exchange and can confirm that it has undertaken an analysis of the potential for a secondary listing in Moscow. In this respect, the Company is continuing to review the legal and regulatory framework, although there can be no certainty that any such dual-listing will proceed at this time.

The Company actively considers various strategic options to enhance its market profile and shareholder base. The Company will update shareholders of any developments in line with market rules.

About Petropavlovsk

With a Premium Listing on the London Stock Exchange, Petropavlovsk (LSE: POG) is a major integrated Russian gold producer with JORC Resources of 20.52Moz Au which include Reserves of 8.21Moz Au.

The Company's key operating mines (Pioneer, Malomir and Albyn) are in the Amur Region in the Russian Far East and the Company has produced a total of c.7.6Moz of gold since operations began in 1994. Petropavlovsk has a strong track record of mine development, expansion and asset optimisation.

The Group recently entered a new era of growth following the successful commissioning and start-up of its flagship asset, the Pressure Oxidation (POX) Hub at Pokrovskiy, which enables the processing of the Company's abundant refractory reserves and resources.

Petropavlovsk is committed to implementing international best practices across all areas of sustainable development and is one of the region's largest employers and contributors to the local economy.

For more information

Please visit www.petropavlovsk.net or contact: