Press Release                                                                                                               17 August 2022

PJSC Polyus

Notice to holders of depositary receipts

PJSC Polyus (LSE, MOEX: PLZL) ("Polyus", or the "Company") informs about the upcoming launch of the automatic conversion process for the Company's depositary receipts («DR») into ordinary shares («Shares»).

This is applicable solely to those shareholders whose DRs are accounted in the Russian depositaries, in accordance with certain amendments to the Federal Law No.114-FZ "On Amendments to the Federal Law "On Joint Stock Companies" which took effect on 14 July 2022.

Please note that with regard to DRs held in the Russian depositaries, no holders' action is required - the conversion will be performed automatically. The automatic conversion will be carried out in accordance with the procedure and terms established by the decision of the Board of Directors of the Central Bank of Russia on 22 July 2022, DRs will be written-off from the holders' accounts, and an equivalent number of Shares will be credited to those accounts.

Based on the Company's estimates, the share of DRs, which are held within the Russian custodian infrastructure, does not exceed 0.5% of Polyus' entire depositary receipts program.

Polyus

Polyus is the world's fourth-largest gold mining company by production volumes and the largest gold miner in terms of attributable gold ore reserves. The Company has the lowest production costs among major global gold producers. Its principal operations are located in Siberia and the Russian Far East: Krasnoyarsk, Irkutsk and Magadan regions and the Republic of Sakha (Yakutia).

Investor and Media contact

Victor Drozdov, Director Communications & Investor Relations Department

+7 (495) 641 33 77

drozdovvi@polyus.com

Forward-looking statements

This announcement may contain "forward-looking statements" concerning Polyus and/or Polyus group. Generally, the words "will", "may", "should", "could", "would", "can", "continue", "opportunity", "believes", "expects", "intends", "anticipates", "estimates" or similar expressions identify forward-looking statements. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Forward-looking statements include statements relating to future capital expenditures and business and management strategies and the expansion and growth of Polyus' and/or Polyus group's operations. Many of these risks and uncertainties relate to factors that are beyond Polyus' and/or Polyus group's ability to control or estimate precisely and therefore undue reliance should not be placed on such statements which speak only as at the date of this announcement. Polyus and/or any Polyus group company assumes no obligation in respect of, and does not intend to update, these forward-looking statements, except as required pursuant to applicable law.

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