Petropavlovsk : Long-Term Incentive Plan - Deferred Bonus Award

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4 May 2016

Petropavlovsk PLC (the 'Company')

Long-Term Incentive Plan - Deferred Bonus Award

Petropavlovsk PLC (the 'Company') announces that the Deferred Bonus Award made to Dr Pavel Maslovskiy, Chief Executive Officer on 1 May 2015, under the Company's Long-Term Incentive Plan, in respect of 4,648,241 Petropavlovsk PLC Ordinary Shares, vested on 1 May 2016. No consideration is payable for these shares.

The table below shows the pre and post vesting holdings of Dr Maslovskiy and his associated entities:

*This number includes 131,830,466 Ordinary Shares over which Dr Maslovskiy has put and call rights as announced on 18 March 2015.

The mid-market closing share price of Petropavlovsk PLC Ordinary Shares as at close of business on 29 April 2016 was 8.30 pence per share. The mid-market closing share price at 1 May 2015, the date of the Award was 5.97 pence per share.

Full details of this award are contained in the Directors' Remuneration Report in the Company's Report and Accounts for the years ended 31 December 2014 and 31 December 2015, copies of which are available on the Company's website atwww.petropavlovsk.net.

Enquiries

Petropavlovsk PLC +44 (0) 20 7201 8900

Alya Samokhvalova - Group Head of External Communications

Grace Hanratty - Investor Relations

Maitland+44 (0) 20 7379 5151

Neil Bennett

James Isola