Auditor appointment

Polymetal announces the appointment of a new auditor.

Following Deloitte LLP's decision, at its own initiative, not to stand for election by the shareholders at the AGM that took place in April 2022 (see the related press release at the link), the Audit and Risk Committee of the Board of Directors of Polymetal International plc held a competitive tender process in compliance with the Competition and Markets Authority regulations, applicable EU requirements and Financial Reporting Council guidance.

As a result of evaluation of the tender participants, the option of engaging MHA MacIntyre Hudson LLP (an independent member of Baker Tilly International Limited) as a group auditor jointly with AO Business Solutions and Technologies (previously AO Deloitte & Touche CIS) as a component auditor was considered a preferred option, which was recommended by the Audit and Risk Committee and approved by the Board. MHA MacIntyre Hudson LLP will act until the conclusion of the 2023 AGM at which meeting the Group auditor will be proposed to shareholders for appointment by ordinary resolution.

The new Group auditor's initial engagement is the review of the 1H 2022 interim financial statements, which is planned to be published on 22 September 2022 and, thereafter, the annual audit for the year ending 31 December 2022.

The Company has analysed its legal position and has concluded that the appointment of MHA MacIntyre Hudson LLP is not contradictory to any applicable sanctions. The Company is not an entity or a body established in Russia and does not consider itself to be an entity owned by or acting on behalf or at the direction of a ‘person connected with Russia’ (see the related press release at the link).

The Company is in compliance with the provisions of The Statutory Audit Services for Large Companies Market Investigation Order 2014.