Extension to the settlement period in connection with the Exchange Offer

8 December 2022

Polymetal announces the extension of the settlement period for the exchange of certain Eligible Shares in consideration for Certificated Shares as announced in the Exchange Offer on 22 September 2022. The Exchange Offer was approved by Shareholders at the General Meeting on 12 October 2022.

Pursuant to the terms of the Exchange Offer set out in the combined shareholder circular and notice of General Meeting published by the Company on 22 September 2022 (the "Circular"), and as set out in the announcements dated 22 September 2022 and 6 October 2022, the Company exercises its right to extend the settlement period for exchange under the Exchange Offer. The Exchange Offer was approved by Shareholders at the General Meeting on 12 October 2022.

Unless otherwise defined herein, defined terms have the same meaning as defined in the Circular.

The expected timetable for the remaining steps of the Exchange Offer is updated as follows:      

2023

Notification to participating shareholders
of any other information required

up to 12 May 

Response to additional information requests of the Company 

by 4 p.m. on 26 May 

Unconditional notification to participating shareholders
of successful tenders 

21 October 2022 up to 9 June

Latest time for completion of individual exchanges

up to 16 June

 Announcement of results of each exchange

up to 19 June

The above times and/or dates may be subject to further change by the Company and in the event of any such change, the revised times and/or dates will be notified to Shareholders by an announcement through a Regulatory Information Service.

References to times in this announcement are to British Summer Time. 

Further details of the Exchange Offer can be found in the Circular and in the FAQs, both of which can be found at: https://www.polymetalinternational.com/en/investors-and-media/shareholder-centre/general-meetings/. Save for the extended settlement period and points referred to above, no other terms of the Exchange Offer are hereby amended. 

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