TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

Petropavlovsk PLC

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

x

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

An indirect acquisition of voting rights following a transfer of shares in a group holding company

x

3. Full name of person(s) subject to thenotification obligation: iii

Renova Assets Ltd.

Renova Holding Ltd.

TZ Columbus Services Limited (as trustee for Columbus Trust)

4. Full name of shareholder(s)  (if different from 3.):iv

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

29 April 2016

6. Date on which issuer notified:

29 April 2016

7. Threshold(s) that is/are crossed orreached: vi, vii

14%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

Ordinary shares ISIN: GB0031544546

483,992,987

14, 7640%

0

0

483,992,987

0%

14, 7640%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

n/a

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

n/a

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

483,992,987

14, 7640%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

Renova Asset Holding Ltd. is a direct wholly-owned subsidiary of Renova Assets Ltd. which in turn is 90%-owned by Renova Holding Ltd., which in turn is wholly-owned by TZ Columbus Services Limited, as trustee for Columbus Trust.

Renova Asset Holding Ltd. has a direct interest by virtue of its holding of the shares set out in box 8A above.

Renova Assets Ltd. has an indirect interest in the shares held by Renova Asset Holding Ltd. by virtue of its 100% holding in Renova Asset Holding Ltd., which it acquired on 29 April 2016, of which 90% had been held by Renova Holding Ltd. . Prior to such transfer, Renova Assets Ltd. had no notifiable interest in the shares or voting rights set out in box 8A above.

Renova Holding Ltd. has an indirect interest in the shares held by Renova Asset Holding Ltd. by virtue of its 90% holding in Renova Assets Ltd.

TZ Columbus Services Limited, as trustee for Columbus Trust, has an indirect interest in the shares held by Renova Asset Holding Ltd. by virtue of its 100% holding in Renova Holding Ltd.

Proxy Voting:

10. Name of the proxy holder:

n/a

11. Number of voting rights proxy holder will ceaseto hold:

n/a

12. Date on which proxy holder will cease to holdvoting rights:

n/a

13. Additional information:

14. Contact name:

Mr. Marco Montanari

15. Contact telephone number:

+1 (242) 326 2150