Press Release                                                                   02 February 2023

PJSC Polyus

Update on Depositary for Rule 144A and Regulation S DR programs

PJSC Polyus (LSE, MOEX: PLZL) ("Polyus", or the "Company") informs that the Company is currently in the final stage negotiations with the potential candidate for the position of a successor depositary in respect to its Rule 144A and Regulation S depositary receipts ("DR") programs to supersede The Bank of New York Mellon.

Polyus reiterates its intention to maintain the abovementioned DR programs admitted to trading on the London Stock Exchange or other recognized stock exchanges. These DR programs currently represent ca. 96% of the overall volume of the Company's depositary receipts.

To recap, on 07 November 2022 The Bank of New York Mellon, currently acting as depositary for the Company's DR programs, notified the Company of its resignation as depositary under the Rule 144A and Regulation S deposit agreements dated 30 June 2017 and amended and restated deposit agreement (level I) dated 31 August 2017. The notices have been made as a part of resignation from all the remaining DR programs in Russia administrated by The Bank of New York Mellon.

Further updates will be provided to the market participants in due course.

Polyus

Polyus is a Top-5 global 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 (CIR) Department

+7 (495) 641 33 77

drozdovvi@polyus.com

Forward looking statement

This announcement may contain "forward-looking statements" concerning Polyus and/or Polyus group. Forward-looking statements are generally identified by the words "will", "may", "should", "could", "would", "can", "continue", "opportunity", "believe", "expect", "intend", "anticipate", "estimate" or similar expressions. 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 expenditure, 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 difficult to predict accurately and which are beyond the control of Polyus and/or Polyus group. Therefore, undue reliance should not be placed on such statements, which speak only to 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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