S&P Global Ratings revises Outlook on PJSC Polyus

Press Release 24 January 2020

PJSC Polyus

S&P Global Ratings revises Outlook on PJSC Polyus to Positive and reaffirms 'BB' Rating

PJSC Polyus (LSE, MOEX - PLZL) ("Polyus" or the "Company") notes that S&P Global Ratings ("S&P") has revised its outlook on Polyus to Positive from Stable and reaffirmed the Company's 'BB' Rating.

In assigning Polyus a 'Positive' Outlook, S&P highlighted the Company's moderate financial policy and improved credit metrics. S&P also expects that Polyus will continue delivering strong operating performance in 2020-2021 on the back of its solid cost position and stable production profile.

Mikhail Stiskin, Senior Vice President, Finance and Strategy, commented:

"We welcome S&P's decision to upgrade Polyus' outlook. We are pleased that international rating agencies recognize our commitment to prudent financial policy and Polyus' global cost leadership."

Polyus

Polyus is the largest gold producer in Russia and one of the top 10 gold miners globally with the lowest cost position. Based on its 2018 Ore Reserves and Mineral Resources, the Polyus group ranks the third by attributable gold reserves among the world's largest gold mining companies.

The Polyus group's principal operations are located in Krasnoyarsk, Irkutsk and Magadan regions and the Republic of Sakha (Yakutia).

Enquiries

Investor and Media contact

Victor Drozdov, Director

Communications & Investor Relations (CIR) Department

+7 (495) 641 33 77

[email protected] 

Forward looking statement

This announcement may contain "forward-looking statements" concerning Polyus and/or Polyus group. Generally, the words "will", "may", "should", "could", "would", "can", "continue", "opportunity", "believes", "expects", "intends", "anticipates", "estimates" or similar expressions identify forward-looking statements. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Forward-looking statements include statements relating to future capital expenditures and business and management strategies and the expansion and growth of Polyus' and/or Polyus group's operations. Many of these risks and uncertainties relate to factors that are beyond Polyus' and/or Polyus group's ability to control or estimate precisely and therefore undue reliance should not be placed on such statements which speak only as at the date of this announcement. Polyus and/or any Polyus group company assumes no obligation in respect of, and does not intend to update, these forward-looking statements, except as required pursuant to applicable law.