Further Growth Opportunities

Financial performance is heavily dependent on the RUB/USD exchange rate and oil price dynamics OpEx Structure, $/oz $ / Au RUB/Tenge Labor, 24% Royalty, 8% Non-fuel consumables, 21% $/RUB/Tenge ▲ POLYMETAL INTERNATIONAL PLC Grid power 4% Fuel, 20% Oil Services, 23% Oil / RUB/ Tenge RUB / Tenge > A 1 RUB movement in domestic currency will have a US$ 9/oz effect on TCC Oil, 30% RUB, 41% $, 20% Tenge ' 9% | 46

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