TR-1: Notification of major interest in shares

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

Polymetal International plc

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

An acquisition or disposal of voting rights

V

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):

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

Mr. Alexander Nesis

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

POWERBOOM INVESTMENTS LIMITED

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

27/09/2016 and 29/09/2016

6. Date on which issuer notified:

29/09/2016

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

20%, 19%, 18%, 17%, 16% (for voting rights attached to shares)

4%, 5%, 6%, 7%, 8%, 9%, 10% (for qualifying financial instruments)

25%, 26% (for total voting rights)

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

JE00B6T5S470

102,076,650

6,619,766

6,619,766

64,637,539

1.55%

15.13%

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

Sale and repurchase agreements

21/09/2017

(transaction will be rolled)

43,520,497

10.19%

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

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

114,777,802

26.87%

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

POWERBOOM INVESTMENTS LIMITED holds 26.87% shares in Polymetal International plc.

POWERBOOM INVESTMENTS LIMITED is fully owned by ICT HOLDING LTD (100%), which in its turn is owned by INVESTMENT CONSTRUCTION TECHNOLOGY (ICT) GROUP LTD (100%)

Alexander Nesis is the major shareholder of INVESTMENT CONSTRUCTION TECHNOLOGY (ICT) GROUP LTD (50%). Other 50% shares in INVESTMENT CONSTRUCTION TECHNOLOGY (ICT) GROUP LTD are held by the shareholders, each holding less than 10%

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:

N/A

14. Contact name:

Christakis Christofidis

15. Contact telephone number:

+357 25335535