5 September 2012

Conclusion of Hedging Programme

Petropavlovsk PLC announces that the final 50,000 ounce tranche of its 170,000 ounce gold hedging programme was determined on the basis of the London Gold Market PM Fixing Price on Friday, 31 August 2012.

The Company has no further gold hedge transactions outstanding at this time.

The total realised cost of the 170,000 ounce gold hedging programme to Petropavlovsk PLC is US$12.4m, of which US$9.4m was charged to the Income Statement in our recently published half-year results, with the remainder to be reflected in our full-year Income Statement.

ENQUIRIES