Press Release                                                                   20 March 2023

PJSC Polyus

Notice of change of the DR programs depositary

PJSC Polyus (LSE, MOEX - PLZL) ("Polyus", the "Company"), further to the Company's press releases dated 02 and 03 February 2023,announces that it has agreed to change the depositary in respect of the Company's depositary receipt ("DR") programs:

The current depositary for the Company's DR programs is The Bank of New York Mellon. The Company has agreed to appoint RCS Issuer Services S.AR.L. ("RCS") as the new depositary for the above Company's DR programs with the expected effective date of the completion of the assumption by RCS of depositary responsibilities on 19 June 2023.

Holders of the Company's DRs are not required to take any action in connection with the change of the depositary.

Polyus reiterates its intention to maintain the abovementioned DR programs admitted to trading on organized stock exchanges. With Polyus' DR trading on London Stock Exchange remaining currently suspended, the Company continues dialogue with several alternative trading venues to provide DR investors with an opportunity to execute transactions on stock exchanges rather than on the over-the-counter market.

For more information on the new depositary, please visit www.rcsgroup.lu.

Polyus

Polyus is a Top-5 global gold mining company by production volumes and the largest gold miner in terms of attributable gold ore reserves. The Company has the lowest production costs among major global gold producers. Its principal operations are located in Siberia and the Russian Far East: Krasnoyarsk, Irkutsk and Magadan regions and the Republic of Sakha (Yakutia).

Investor and Media contact

Victor Drozdov, Director Communications & Investor Relations (CIR) Department

+7 (495) 641 33 77

drozdovvi@polyus.com

Forward looking statement

This announcement may contain "forward-looking statements" concerning Polyus and/or Polyus Group. Generally, the words "will", "may", "should", "could", "would", "can", "continue", "opportunity", "believes", "expects", "intends", "anticipates", "estimates" or similar expressions identify forward-looking statements. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Forward-looking statements include statements relating to future capital expenditures and business and management strategies and the expansion and growth of Polyus' and/or Polyus Group's operations. Many of these risks and uncertainties relate to factors that are beyond Polyus' and/or Polyus Group's ability to control or estimate precisely and therefore undue reliance should not be placed on such statements which speak only as of the date of this announcement. Polyus and/or any Polyus Company assumes no obligation in respect of, and does not intend to update, these forward-looking statements, except as required pursuant to applicable law.