Investor Presentaiton

Voro Remaining LOM: oxidized ore reserves primary ore reserves 6 years - 15 years • • Q1 2010 highlights Expanded CIP plant operating at full capacity Quarterly gold production jumped 51% Y-on-Y From primary ore (CIP plant) - by 59% • From oxidized ore (heap leach) - by 15% • Mining of oxidized ore form the southern pit is expected to commence in Q2 2010 • 67 Kt of ore was mined at Degtyarskoye and trucked to the Voro CIP plant © 2010 Polymetal 160 Q1 2009 35% 216 Q1 2010 ■Primary ore processed, kt 43.6 28.9 6.9 5.7 111 Q1 2009 Q1 2010 Gold production, Koz Primary ore grade, g/t 12

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