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

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

V

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

Otkritie Holding JSC

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

Otkritie Investments Cyprus LimitedOtkritie Capital International LimitedOtkritie Broker JSC

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

17/10/2016

6. Date on which issuer notified:

27/10/2016

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

7%

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

28,654,470

28,654,470

29,996,139

7.02%

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

Repo / Title Transfer Collateral Agreements

92,238

0.02%

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

30,088,377

7.04%

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

1. Otkritie Holding JSC indirectly owns all issued share capital of Otkritie Investments Cyprus Limited through its 100% subsidiary, Elinova Holdings Limited.

Elinova Holdings Limited is the sole shareholder of Otkritie Investments Cyprus Limited.

2. Otkritie Holding JSC indirectly owns all issued share capital of Otkritie Broker JSC.

Otkritie Holding JSC owns 99.99% through 100% subsidiary, Otkritie Trading LLC. 0.01% is owned by Otkritie Holding JSC directly.

3. Otkritie Holding JSC indirectly owns all issued share capital of Otkritie Capital International Limited through its 100% subsidiary, Otkritie Capital LLC.

Otkritie Capital LLC is the sole shareholder of Otkritie Capital International Limited.

Proxy Voting:

10. Name of the proxy holder:

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

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

13. Additional information:

14. Contact name:

Alexander D. Tarabrin

15. Contact telephone number:

Tel.: +7 (495) 232-03-00

Ext.: 11-4778 (PA)