Polymetal International : Changes in the executive management team

23 January 2017

Polymetal International plc (LSE, MOEX: POLY; ADR: AUCOY) (together with its subsidiaries - 'Polymetal') announces changes in the executive management team.

Maxim Nazimok (35) will assume the role of Chief Financial Officer of Polymetal, effective January 23rd. His responsibilities will include financial reporting, corporate finance, M&A execution, investor relations, risk management, treasury, and tax.

Mr. Nazimok joined Polymetal in 2011 as Chief Financial Controller and was promoted to Finance Director in 2015. Maxim started his career at PricewaterhouseCoopers. He then worked at MDM Bank and Nomos Bank, both among top-5 Russian privately-owned commercial banks. Mr. Nazimok holds a BA degree in Economics from St. Petersburg State University and is a Fellow member of ACCA. In 2016, Maxim graduated with distinction from the Executive MBA-Global Programme at London Business School and Columbia Business School.

Sergey Cherkashin (54) will assume the newly created position of Executive Vice President - Business Performance. His scope of responsibilities will encompass operating cost control, organizational effectiveness, information technology, continuous improvement initiatives, and investment project analysis.

Mr. Cherkashin was appointed CFO of Polymetal in 2005. Previously, he worked in a CFO position in several companies and was employed by AT Kearney as business efficiency consultant. Sergey holds an MBA from the University of Hartford and Master's Degree in Applied Mathematics from the Moscow Institute of Physics and Technology.

'Changes in Polymetal's management team underscore our continued focus on both best-practice finance function and the need to drive continuous improvement across the business', said Vitaly Nesis, Group CEO of Polymetal. 'Maxim's and Sergey's experience and education represent excellent fit to address these dual challenges'.

FORWARD-LOOKING STATEMENTS

THIS RELEASE MAY INCLUDE STATEMENTS THAT ARE, OR MAY BE DEEMED TO BE, 'FORWARD-LOOKING STATEMENTS'. THESE FORWARD-LOOKING STATEMENTS SPEAK ONLY AS AT THE DATE OF THIS RELEASE. THESE FORWARD-LOOKING STATEMENTS CAN BE IDENTIFIED BY THE USE OF FORWARD-LOOKING TERMINOLOGY, INCLUDING THE WORDS 'TARGETS', 'BELIEVES', 'EXPECTS', 'AIMS', 'INTENDS', 'WILL', 'MAY', 'ANTICIPATES', 'WOULD', 'COULD' OR 'SHOULD' OR SIMILAR EXPRESSIONS OR, IN EACH CASE THEIR NEGATIVE OR OTHER VARIATIONS OR BY DISCUSSION OF STRATEGIES, PLANS, OBJECTIVES, GOALS, FUTURE EVENTS OR INTENTIONS. THESE FORWARD-LOOKING STATEMENTS ALL INCLUDE MATTERS THAT ARE NOT HISTORICAL FACTS. BY THEIR NATURE, SUCH FORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER IMPORTANT FACTORS BEYOND THE COMPANY'S CONTROL THAT COULD CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. SUCH FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS REGARDING THE COMPANY'S PRESENT AND FUTURE BUSINESS STRATEGIES AND THE ENVIRONMENT IN WHICH THE COMPANY WILL OPERATE IN THE FUTURE. FORWARD-LOOKING STATEMENTS ARE NOT GUARANTEES OF FUTURE PERFORMANCE. THERE ARE MANY FACTORS THAT COULD CAUSE THE COMPANY'S ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS TO DIFFER MATERIALLY FROM THOSE EXPRESSED IN SUCH FORWARD-LOOKING STATEMENTS. THE COMPANY EXPRESSLY DISCLAIMS ANY OBLIGATION OR UNDERTAKING TO DISSEMINATE ANY UPDATES OR REVISIONS TO ANY FORWARD-LOOKING STATEMENTS CONTAINED HEREIN TO REFLECT ANY CHANGE IN THE COMPANY'S EXPECTATIONS WITH REGARD THERETO OR ANY CHANGE IN EVENTS, CONDITIONS OR CIRCUMSTANCES ON WHICH ANY SUCH STATEMENTS ARE BASED.

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