Results of the second tranche of the Exchange Offer


6 May 2024

This announcement is being made in accordance with Rules MDR 7.1 – 7.4 of the AIX Market Disclosure Rules.

Further to the Exchange Offer announced on 23 November 2023 and as approved by Shareholders at the General Meeting on 8 December 2023, Polymetal International plc (“Polymetal” or the “Company”) announces that a total of 8,347,580 Ordinary Shares (1.76% of the outstanding share capital) have been repurchased by the Company under the second tranche of the Exchange Offer (the "Second Eligible Shares") in consideration for the issuance of the AIX Exchange Shares, on a one-for-one basis. In total, 13,429,659 shares or 2.84% of the outstanding share capital have been repurchased since the beginning of the Exchange Offer.

Following the repurchase of the Second Eligible Shares and the issuance of the corresponding Exchange Shares, the total number of voting rights in the Company remains unchanged and is 473,690,320 Ordinary Shares at par value of US$ 0.03, each carrying one vote. The Company holds 55,044,337 Ordinary Shares in treasury, which do not enjoy any voting or economic rights. Polymetal intends to cancel these shares. However, such a cancellation is contingent upon the relaxation of the restrictions on NSD, and until such time that the restrictions are relaxed, Shares held in treasury by the Company will not be available for re-issue.

The above figure of 473,690,320 Ordinary Shares may be used by shareholders (and others with notification obligations) as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, Polymetal under the Rule MDR3.3 of the AIX Market Disclosure Rules.

The Company reminds that the share exchange continues according to plan and calls on all Eligible Shareholders to tender Eligible Shares prior to 30 September 2024. Shareholders on AIX enjoy the full range of shareholder rights and are not under any restrictions.

Unless otherwise defined herein, defined terms have the same meaning as those attributed to them in the Circular: https://www.polymetalinternational.com/en/investors-and-media/shareholder-centre/general-meetings/.

Further details of the Exchange Offer as well as answers to the frequently asked questions are available at the Company's website: https://www.polymetalinternational.com/ru/share-exchange/.

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