MOEX list level downgrade

Polymetal International plc (the “Company”, “Polymetal”) informs that following the announcement made by PJSC Moscow Exchange (MOEX), list level of the Company’s ordinary shares on MOEX has been downgraded from level 1 to level 3.

On 20 February 2024, in accordance with the listing regulations and due to the proposed divestment of Polymetal Group’s Russian business, MOEX has made the decision to downgrade list level of the Company’s ordinary shares from level 1 to level 3, effective starting from 22 February 2024. Shares from list level 3 are restricted for purchase by “unqualified” investors.

Notwithstanding the downgrade, Polymetal continues to meet the high level of corporate governance, reporting and transparency standards required for the list level 1 on MOEX. The Company does not intend to cancel its MOEX listing.

Polymetal confirms that the downgrade does not affect the offer to exchange certain shares currently affected by the EU sanctions on NSD, announced on 23 November 2023. Eligible Shareholders are invited to tender such shares in exchange for the shares issued on AIX. Eligible Shareholders who successfully participate in the Exchange Offer will regain the enjoyment of their rights in the Company. Please visit our website for more details: https://www.polymetalinternational.com/ru/share-exchange/.

Trading status of the Company’s ordinary shares on AIX (the Company’s primary listing venue) is unaffected by this announcement.