Sale of the Alluvial mining operations

PJSC Polyus (MOEX: PLZL) (“Polyus”, or the “Company”) announces that its wholly-owned subsidiary JSC Polyus Krasnoyarsk has completed the sale of its entire interest in JSC Gold Mining Company Lenzoloto (“GMC Lenzoloto”) to a Russia-based group of investors.

Alexey Vostokov, Chief Executive Officer of PJSC Polyus, commented:

This transaction marks another step in the implementation of our production strategy and empowers us to channel our resources towards our largest projects in open pit mining. This holds particular relevance assuming the planned commencement of Sukhoi Log development.

Asset overview

GMC Lenzoloto is developing a number of gold-bearing alluvial deposits in Bodaibo District of Irkutsk Region. Its refined gold output reached 103 thousand ounces in 2023.

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).

Capital Markets Department

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 at the date of this announcement. Polyus and/or any Polyus group company assumes no obligation in respect of, and does not intend to update, these forward-looking statements, except as required pursuant to applicable law.