Investor Presentaiton

POLYMETAL INTERNATIONAL PLC POX-2 Key project risks and opportunities EFFECT ON NPV, $m (10% discount rate) Reasonable Risked upside case case scenario 90 112 52 99 69 70 70 393 -40 INVESTOR PRESENTATION 38 -67 -42 18% IRR 244 Reasonable 1Y delay CAPEX OPEX conc upside case +20% +10% Risked upside processing case NPV +US$50/t to offtake charges Penalties for As > 5% Reasonable 3rd party reserve expansion

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