Polyus Finance Plc: Results of the tender offers

Date: 24 September 2018

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

POLYUS FINANCE PLC ANNOUNCES RESULTS OF THE TENDER OFFERS FOR ITS NOTES DUE 2020, 2022, 2023 AND 2024

Polyus Finance plc (the "Offeror") announces the results of its invitations to eligible holders of its outstanding notes detailed in the table below, issued by it and guaranteed by Joint Stock Company Polyus Krasnoyarsk ("JSC Polyus") and Public Joint Stock Company Polyus ("PJSC Polyus" and together with JSC Polyus, the "Guarantors") (each of the issuances of notes referred to below, a "Series", and all outstanding notes of all Series together, the "Notes"), to tender their Notes for purchase by the Offeror for cash (each such invitation, an "Offer" and, together, the "Offers") at prices to be determined pursuant to a Modified Dutch Auction, as further set out in the table below.

Capitalised terms used in this announcement but not otherwise defined have the meanings given to them in the tender offer memorandum dated 14 September 2018 ("Tender Offer Memorandum") issued by the Offeror.

The Offers expired at 16:00 hours, London time, on Friday 21 September 2018.

The Offeror has accepted for purchase the Notes as set out in the table below:

All the Notes that have been validly tendered at or below the respective Purchase Prices and received by the Information and Tender Agent have been accepted in full without pro-ration.

The Settlement Date is expected to be on or about 26 September 2018.

Any Notes purchased by the Offeror in the Offers will be transferred to and held by the Offeror in accordance with the terms and conditions of the Notes and, if decided by the Offeror in its sole discretion, may be cancelled in full or in part immediately after or at any time following completion of the Offers.

Offer and distribution restrictions apply. Investors should refer to the Tender Offer Memorandum for full details. If you need further information about the Offers, please contact the Dealer Manager or the Information and Tender Agent.

Offer Website: https://sites.dfkingltd.com/polyus

Contact Details: DEALER MANAGER J.P. Morgan Securities plc 25 Bank Street Canary Wharf London E14 5JP United Kingdom For information by telephone: +44 20 7134 2468 Attention: Liability Management Email: em_europe_lm@jpmorgan.com

THE INFORMATION AND TENDER AGENT

D.F. King Ltd. Email: polyus@dfkingltd.com

In London:

125 Wood Street London EC2V 7AN United Kingdom Telephone: +44 20 7920 9700

In Hong Kong:

Suite 1601, 16/F, Central Tower 28 Queen's Road Central Hong Kong Telephone: +852 3953 7231

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