Statement regarding Share Price Movement

7 July 2014

Statement regarding Share Price Movement

Petropavlovsk PLC (the "Company", "Petropavlovsk" or, together with its subsidiaries, the "Group") notes the recent weakness in the Company's share price and advises the Group is performing operationally in accordance with its strategic plan and budget and maintains its guidance for 2014 total production of 625,000oz of gold. Petropavlovsk's next scheduled market update will be its Trading Update on 22 July 2014 and its Half-Year Results on 28 August 2014. The 2014 Second Quarter Trading Update of IRC Limited will be released on Thursday, 17 July 2014 before the Hong Kong Exchange opens.

The Company is keen to make contact with all the holders of its 4.00% Guaranteed Convertible Bonds (the 'Bonds') due 2015 (ISIN: XS0482875811) and invites them to approach the Company or its advisers.

Enquiries

Petropavlovsk PLC: +44(0)20 7201 8900

Alya Samokhvalova

Rachel Mills

Maitland: +44(0)20 7379 5151

Neil Bennett

George Trefgarne

James Isola

Seda Ambartsumian