"In Q1 2021, Polymetal delivered strong production, strong free cash flow, and steady progress across development projects", said Vitaly Nesis, Group CEO of Polymetal. "COVID-related construction cost inflation remains a pressing concern despite gradual improvements in the epidemiological situation". HIGHLIGHTS No fatal accidents occurred among Group workforce and contractors in Q1 2021 (consistent with Q1 2020). Lost time injury frequency rate (LTIFR) among the Group's employees stood at 0.25 (0.07 in Q1 2020) as there were seven lost-time accidents mostly related to falling or being hit by an object. Gold equivalent ("GE") production in Q1 grew by 3% year-on-year (y-o-y) to 375 Koz. All-time highest quarterly production from Varvara and strong performance across other assets offset the planned grade-driven decline at Kyzyl.