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Polymetal-key facts 2009 Production Gold 311 Koz (+9% Y-o-Y) Silver 17.3 Moz (+1% Y-o-Y) Gold eq.1 0.6 Moz (+5% Y-o-Y) Co-product Cash Costs (Gold equivalent) 1H2009 442 US$/oz 2008 Adj EBITDA US$ 193m 2P Reserves (JORC) 1 Gold eq. 14 Moz @ 4.1 g/t Capital Structure Market cap Net debt³ US$ 3.3 bn²(358m shares) c. US$ 580m © 2009 Polymetal 1 Using 1:60 Ag/Au and 5:1 Cu/Au conversion ratios 2 LSE price as of February 1, 2010. Market cap is calculated without accounting for treasury shares held by Polymetal 's subsidiaries (c. 41m). Total ordinary shares account for 399.4 million. 3 As at December 31, 2009 3

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