Investor Presentaiton

Polymetal: Asset portfolio Voro Production: 150Koz Au Reserves: 1.7Moz Au @ 2.8 g/t Dukat Operations Production: 15.6 Moz Ag and 39 Koz Au Reserves: 360Moz Ag @ 405 g/t 0.85Moz Au @ 1.0 g/t Mayskoye Resources: 7.5 Moz Au @ 11.8 g/t Cash costs FY09: US$381/oz of Au Cash costs FY09: US$8.1/oz of Ag Production • Development © 2010 Polymetal St.Petersburg Magadan Yekaterinburg Khabarovsk Kazakhstan Omolon Operations Reserves: 0.7Moz Au eq. @ 16 g/t Resources: 3.7Moz Au @ 3.3 g/t Khakanja Production: 136Koz Au eq. Reserves: 1.1 Moz Au eq. @ 9.5g/t Cash costs FY09: US$463/oz of Au Varvarinskoye Reserves: 1.3Moz Au @ 1.1 g/t 151m lb Cu @ 0.7% Resources: 3.1 Moz Au @ 1.1 g/t 313m lb Cu @ 0.3% Amursk POX hub+Albazino Reserves: 2.3Moz Au @ 4.1 g/t Production numbers are given for the full year 2009 Reserves and resources are as at January 1, 2009 16

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