CITIBANK T/O MOSCOW SERVICE STANDARDS FOR EQUITY INSTRUMENTS

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1 Данный документ предназначен только для ознакомления. Обратитесь в Управление ценных бумаг по тел. +7 (095) за получением оригинальных форм для заполнения и подписания. This document is for information only. To receive original forms for filling out and signing please contact Custody at +7 (095) CITIBANK T/O MOSCOW SERVICE STANDARDS FOR EQUITY INSTRUMENTS I. Summary Statements This document, and any addendum, serves as the service standard for the clearing and custodial services for Russian equities provided by Citibank T/O, Moscow, hereafter referred to as Citibank. Citibank's ability to provide quality service is dependent on a mutual understanding of the service component requirements and their interdependencies. Accordingly, we have documented these standards here with the goal that adherence on the part of Citibank and its customers will increase the quality of the overall service, and the satisfaction of our customers. All time frames stated here refer to Moscow local time unless otherwise noted. Page 1 II. General Statement Citibank offers equity custodial services for equity shares for which Citibank has established a nominee account with the registrar of shareholders of the issuer of the shares. As the Russian equity market is predominantly dematerialized, settlement occurs when the registrar effects a new entry to the register. To demonstrate that registration has been properly effected, the registrar produces an extract, which is a hard copy statement indicating that the registration process has been completed and ownership has been transferred. Extracts are non-negotiable, hold no intrinsic value, and they are not legal proof of ownership. Due to the volatility of the Ruble and the weak payment mechanisms within the Russian Federation, cash settlement for equity trades often occurs offshore, mostly in US Dollars. Citibank will, therefore, only process Receive Free and Deliver Free transactions. Citibank will, however, offer both Ruble and US Dollar cash accounts ( K Accounts) solely for the purpose of collecting dividends in accordance with Russian Hard Currency Regulations. Please refer to the Market Profile for more details regarding the settlement procedures in the Russian Federation. III. Account Opening A. Primary Customer Documentation Requirements

2 Service Standards Page 2 The following matrix identifies those documents that Citibank provides to its customers and request completion of in order to open accounts at Citibank:

3 Documents Provided by Citibank: Country Schedule Agreement/Depository Agreement Fee Schedule Power of Attorney K Account Opening Package Equities Account Opening Application Customer Profile Signature Cards Service Standards Documents to be returned by the Customer: Signed Country Schedule Agreement/Depository Agreement Signed Fee Schedule Signed Power of Attorney (notarized) Signed K Account Opening Package Signed Equities Account Opening Application Completed Customer Profile Completed Signature Cards (notarized) Copies of documents of Incorporation/Association (notarized) Empowering documents (notarized) Note: Unless otherwise specified, originals or certified photocopies of all items are required. Account opening documents may vary depending on the type of legal entity, its country of registration and other factors. We recommend you to advise your designated Account Manager at Citibank on the specific requirements for your entity. Page 3 B. Timeframe for Account Opening Citibank will open an account and confirm to customers via SWIFT or telex that the account is open and ready for transaction activity three business days from the day a full set of correct and complete documentation, satisfactory to Citibank, has been received by Citibank Moscow. IV. Settlement Instructions A. Instruction Methods Citibank will only accept authenticated instructions in one of the following methods: 1. SWIFT MT520 series message formats as defined in Appendix A. Citibank s SWIFT address is CITIRUMX. 2. Formatted messages sent through one of Citibank's proprietary systems. 3. Tested telex, preferably using MT520 series message formats as defined in Appendix A. Citibank s telex address is Note: Customers should use tested telex as a method of instruction only when other means are temporarily unavailable. No means of instruction, other than those listed (e.g. facsimile), can be accepted without specific indemnities.

4 B. Mandatory Data Instructions which are missing mandatory data cannot be processed. Citibank will notify the customer of any missing data or deficiencies in the instructions within the same-day of receipt. Customers must then reinstruct by the applicable deadline. Instructions which contain all the necessary data but require manual intervention may result in delays in processing and additional fees. Mandatory data is specified in Appendix A. Service Standards Page 4 C. Cancellation and Re-instruction There is no industry standard for amending a transaction. Customers wishing to alter any part of a previously issued instruction must cancel that instruction using a SWIFT MT592 or its equivalent and then replace it with a new settlement instruction. Cancellation instructions must include either the Citibank or customer reference number of the previously issued instruction. Note: Customers will be notified of any unprocessed cancellation within one business day. D. Instruction Deadlines Customer instructions must be received by the following deadlines: Instrument Instruction Cancellation Type Deadline Deadline Street-side settlement TD+2, 9:00 AM TD+2, 9:00 AM Between Citibank customers. TD+3, 4:00 PM TD+3, 4:00 PM Note: Customers will be notified of any unprocessed cancellations within one business day of receipt. E. Instructions Received After Deadline Citibank may, in its sole discretion, use reasonable endeavors to process instructions received after the deadline. Citibank cannot honor any claims resulting from the late execution of instructions received after the specified deadlines. F. Counterparty Delivery Instructions Registrar extracts should be presented at: Citibank T/O 8-10 Gasheka Street Moscow Russia G. Same-day Turnaround Transactions Citibank will settle same day turnaround transactions only when transactions take place between two Citibank customers.

5 V. Trade Processing A. Pending Trade Reporting Settlement instructions received by the stated deadline will be reported in the Statements of Pending Transactions from date of receipt until settlement or other resolution. The projected settlement status of these instructions will be indicated by status/reason codes. B. Pre-matching B1. Pre-matching with External Counterparties: The customer must instruct its brokers to deliver to Citibank a copy of the completed purchase/sale agreement within 24 hours of execution. Citibank will attempt to pre-match instructions with counterparties against the purchase/sale agreement. Results will be reported in the Statements of Pending Transactions on the morning of the day following instruction receipt. Each time new information is obtained through the matching process, the Statement of Pending Transactions will reflect the change through the status/reason code. A pre-matched status/reason code will only indicate that the instructions received have been acknowledged by the counterparty and not that the trade will absolutely settle. Upon pre-matching a transaction, the counterparty (for receive transactions) or Citibank (for deliver transactions) will initiate the reregistration process. Market practice dictates that the seller completes the re-registration process. Please refer to the Market Profile for further details. If the pre-match requirements have not been met by both parties, Citibank will indicate to the customer that the transaction has failed prematching. If Citibank does not receive the purchase/sale agreement from the designated counterparty, the customer will be notified by Citibank. Citibank will automatically cancel any outstanding instruction which cannot be matched to the purchase/sale agreement for 45 consecutive business days from the instruction receipt date. Page 5 B2. Pre-matching between two Citibank Customers: Citibank will pre-match the trade by comparing the relevant trade details received by each customer. If both Citibank customers meet all the prematching requirements, Citibank will settle the trade on a same-day basis. If either party fails the pre-match requirements, Citibank will indicate the transaction as failing pre-match. C. Splitting Currently Citibank does not offer re-registration services for securities issued in certificate form.

6 VI. Trade Settlements There is no fixed settlement cycle for Russian equities as trade settlement is contingent upon the completion of the re-registration process which is highly variable and dependent upon the location and sophistication of each issuer s registrar. Market practice suggests that the average settlement cycle for a trade settling in Moscow is T+5, while beyond the Moscow vicinity, trade settlement can vary between T+10 and T+45. Note: Citibank will only settle equities trades upon receipt of an official transaction extract from the issuing company or registrar. When transactions take place between two Citibank customers, Citibank will settle equity trades on a same-day basis if instructions are received by the stated deadlines and adhere to the pre-match process described in Section V.B2. Service Standards Page 6 A. Receipt of Extracts Registrar extracts must be delivered to Citibank at the address identified in IV.F by 4:00 PM on settlement day for acceptance and same-day credit by Citibank. B. Settlement Reporting Settlement confirmation (MT530 series) will be sent to the customer no later than 7:00 PM on settlement day. C. Free Receives Without Instructions It is Citibank policy to reject free receives for which no instructions have been received. D. Buy-in Process At present, there are no regulations to invoke or enforce a buy-in in the Russian Federation. E. Partial Settlements Partial settlements for equities are not accepted by Citibank in this market. F. Failed Settlements 1. Failed settlements are reported through the Statements of Pending Transactions which indicate the reason for failure through the status/reason code. 2. The customer is expected to manage the outstanding failed transactions and to send Citibank a cancellation instruction within thirty business days of the contractual settlement date if the transaction cannot be settled as instructed. The customer is likewise expected to reconcile its failed position with Citibank reporting on a regular and periodic basis corresponding directly to the delivery of that reporting.

7 VII. Registration In order to effect registration for equities, Citibank has opened accounts in the Citibank T/O nominee name with each registrar that allows nominee accounts. Citibank will provide re-registration services for only those issuers that allow nominee accounts with their registrar.(see the Issuer s Registration List). Since each issuer appoints their own registrar, the documentation to transfer ownership, the registration process, fees and anticipated timeframes for completion of registration vary by registrar. Upon completion of the registration process, registrars will produce an extract, (statement) indicating that the process has been successfully completed. Note: Extracts do not represent legal proof of ownership and have no intrinsic value. Ownership is noted in the registrar s books or records and can be confirmed, but not evidenced, by an extract. VIII. Claims Citibank will not accept or honor any claim from counterparties resulting from delayed settlements. IX. Corporate Actions There is no centralized source for the issuance or publication of information as it relates to corporate actions in the equity market. Citibank will provide notification of corporate actions information on a reasonable endeavor basis only. Citibank's sources for applicable corporate action information are the registrars and industry publications and official web sites. Due to the lack of a market infrastructure and adherence to securities laws by market participants, Citibank cannot warrant the accuracy nor the timely distribution of corporate actions notifications to customers. Citibank will also distribute any annual report or other financial information received from issuers upon customers specific request. Citibank will distribute this information in its original publication language for a specified fee outlined in the fee schedule. Page 7 A. Notification of Entitlement Methods Citibank will send notification of applicable corporate actions in one of the following methods: 1. SWIFT, using the MT550 series message or an instruction of its equivalent. 2. Formatted messages sent through one of Citibank's proprietary systems. 3. Tested telex, using the MT550 series message format.

8 Citibank will accept instructions for voluntary corporate actions in one of the following methods: 1. SWIFT, preferably using the MT553 message format. 2. Formatted messages sent through one of Citibank's proprietary systems. 3. Tested telex, preferably using the MT553 message format. Note: No means of instruction, other than those listed (e.g. facsimile), can be accepted without specific indemnities. B. Voluntary Corporate Actions The customer must instruct Citibank by the deadline stated in the notice of entitlement. If no instructions are received by the deadline, Citibank may, in its sole discretion, use reasonable endeavors to follow-up with the customer. If no instructions are received, Citibank will take no action. Service Standards Page 8 C. Mandatory Data Instructions for voluntary corporate actions which are missing mandatory data cannot be processed. Citibank will notify the customer of any missing data or deficiencies in the instructions within the same-day of receipt. Customers must then re-instruct by the applicable deadline. D. Corporate Action Reporting 1. Notice of Event: Citibank will send notices of event to current holders of record within one business day of the receipt of official announcement. 2. Notice of Entitlement: Citibank will send notices of entitlement based on settled positions, to holders of record as of record date within one business day of official announcement. 3. Confirmation of Credit: Citibank will report credits of securities or cash to the customer account within two business days of receipt by Citibank. E. Cash Dividends Although issuers have been paying cash dividends for the last two years, they rarely meet their obligations to fully distribute dividends. Registrars will often make dividend payments to their large customers and wait for adequate funding from the issuer to pay the remaining holders. In circumstances where Citibank may not receive full dividend payments as a nominal holder, Citibank will distribute the cash received in a prorated manner according to the percentage holdings of each customer in the nominee account. As dividends are paid in Rubles, Citibank will collect dividend payments and distribute them to their customers K Accounts, in accordance with Russian Hard Currency Regulations. Customers will be advised via SWIFT MT 554/MT599 or Tested Telex of the Ruble amount and value date which funds were credited to their account. Citibank will repatriate funds upon receipt of standing instructions which are to be established by the customer upon opening an equity account.

9 F. Claims Upon customer request, Citibank will attempt up to three reasonable endeavors to issue and pursue claims on behalf of customers for cash dividends and other entitlements from local market participants. Upon the issuance of the third claim, if no favorable response is received, the claim will then be reverted to the customer for further pursuit. X. Tax Exemption/Reclamation Support A. Tax Exemption/Relief at Source/Reclamation Citibank does not offer tax reclamation services. XI. Customer Reporting Report Methods The following statements/reports are available as part of the standard service package. The times stated refer to the time Citibank sends the report. Please contact your account manager for any additional reporting requirements. A. SWIFT Messages: Page 9 Message/Statement Format Frequency/Timing Name Settlement Confirmation MT530 Series Daily, no later than 7:00 PM Statement of Holdings MT571 As arranged, no later than 7:00 PM Statement of Failed/ Pending Transactions Statement of Settlements MT572 MT573 Daily, no later than 7:00 PM As arranged, no later than 7:00 PM Corporate Actions MT550 Series Event Driven XII. Cash In accordance with Russian Hard Currency Regulations, Citibank will offer both Ruble and USD cash accounts solely for the purpose of dividend distribution. Customers who do not have existing Ruble or US Dollar accounts, may open accounts with Citibank by completing the K Account Opening Package. A. K Account Cash Services 1. Instruction Methods Citibank will only accept authenticated instructions in one of the following formats: a. SWIFT, using MT100 and MT202 message formats. b. Formatted messages sent through one of Citibank's proprietary systems. c. Tested telex, preferably using MT100 and MT202 message formats.

10 Service Standards Page 10 Note: Customers should use tested telex as a method of instruction only when other means are temporarily unavailable. No other means of instruction (e.g. facsimile), other than those listed, can be accepted without specific indemnities. 2. Mandatory Data Instructions which are missing mandatory data cannot be processed. Citibank will notify the customer of any missing data or deficiencies in the instructions within same-day of receipt. Customers must then re-instruct by the applicable deadline. 3. Cancellation and Re-instruction There is no industry standard for amending a transaction. Customers wishing to alter any part of a previously issued instruction must cancel that instruction using a SWIFT MT192 or 292 or their equivalent and then replace it with a new settlement instruction. Cancellation instructions must include either the Citibank or customer reference number of the previously issued instruction. 4. Instruction Deadlines If standing instructions are not in place, Ruble Payment Orders must be received by 2:00 PM. By instruction/message type Instrument Instruction Cancellation Type Deadline Deadline MT100 VD, 2:00 PM VD, 2:00 PM MT202 VD, 2:00 PM VD, 2:00 PM Note: VD is the abbreviation for value date (e.g. VD-1 is the abbreviation for value date minus one business day). Cancellations cannot be processed if the payment instructions have already been effected. 5. Instructions Received After Deadline Citibank may, in its sole discretion, use reasonable endeavors to process instructions received after the deadline. Citibank cannot honor any claim resulting from the late execution of instructions received after the specified deadlines. 6. Incoming Funds Availability Citibank will confirm receipt of dividend payments from the registrars into Citibank s account with the Central Bank within one business day of actual receipt of payment. Citibank will reconcile the dividend and in a pro-rated manner, distribute payment to the customer s Ruble K account within three business days of actual receipt of payment. Funds are value next-day. B. Cash Management 1. Overdraft Facilities

11 Citibank does not provide overdraft facilities for this product offering. 2. Repatriation of Funds a. Citibank will only repatriate funds for customers who have a K Account with Citibank. b. Instruction Method: Standing instructions for dividends. Customers may automatically repatriate income by issuing standing instructions. XIII. Foreign Exchange Repatriation of Ruble dividend payments can be executed with Citibank's Treasury desk if the customer has a K Account with Citibank. All transactions are next-day value provided instructions are received by the times listed below: Type Dividend Income Next-day VD-1, 2:00 PM Note: VD is the abbreviation for value date (e.g. VD-1 is the abbreviation for value date minus one business day). Citibank will confirm details of execution on same-day via SWIFT. Page 11 XIV. Customer Service A. Days and Hours of Operation Citibank will maintain a service desk from 9:00 AM to 6:00 PM, Monday through Friday, exclusive of bank holidays. B. Inquiries and Investigations 1. Simple inquiries for status will be responded to within one business day. 2. Citibank standard response time for investigations related to transactions or events that occurred within the last 30 days is three business days. 3. Citibank standard response time for investigations related to transactions that occurred prior to the last 30 days is seven business days. Note: Additional response time may be necessary for investigations requiring information from third parties. XV. Billing Cycle and Delivery Citibank, depending on the individual customer arrangement for local country, regional or global billing, will send a summary of charges to each customer on a monthly basis within five business days of month end. Invoices will be delivered to customer by Telex. The customer must remit funds into a specified account in Citibank NY for the Account of Citibank Moscow. Any questions regarding the specific charges should be communicated, in writing, to Citibank for resolution. XVI. Closing Statement

12 Service Standards Page 12 Citibank understands that the customer may have other previous documents which cover some of the elements described here. In order to assure mutual understanding and service quality, all prior service standards for Clearing and Custody are superseded by this document. Notwithstanding any other agreement to the contrary, by using any of these services, the customer agrees to be bound by these service standards, as amended from time to time. The customer agrees not to disclose the contents of this document or any amendments, exhibits, attachments and appendices.

13 APPENDIX A SWIFT CITIBANK FORMATS AND MANDATORY DATA For Instructions to Receive Securities Free of Payment: SWIFT Field Tag Required Data Contents MT Settlement Date YYMMDD 20 Transaction Reference Number Up to 16 alpha numeric 21 Related Reference Up to 16 alpha numeric 31P Date and Place of Trade YYMMDD and place of trade settlement 35B Identification of Securities Preferably ISIN. Other: local code and description Page 13 35A* Quantity of Securities Type of Security and quantity Example: SHS 10000, 72 Sender to Receiver Information 6*35x 77D Registration Details 6*35x 82A Instructing Party A or D 83A 83C (83D) Safekeeping Account C or D Account Number (Account Number and Title) 85 Deliverer s Instrructing Party A, C or D 87A,D Deliverer of Securities Preferably BIC code other: local code and name 88A Beneficiary of Securities A, C or D *For fixed income securities, quantities must be expressed in nominal value.

14 For Instructions to Deliver Securities Free of Payment: MT522 SWIFT Field Tag Required Data Contents MT Settlement Date YYMMDD 20 Transaction Reference Number Up to 16 alpha numeric 21 Related Reference Up to 16 alpha numeric 31P Date and Place of Trade YYMMDD and place of trade settlement Service Standards Page 14 35B Identification of Securities Preferably ISIN other: local code and description 35A* Quantity of Securities Type of Security and quantity Example: SHS 10000, 72 Sender to Receiver Information 6*35x 77D Registration Details 6*35x 82A Instructing Party A or D 83A 83C (83D) Safekeeping Account C or D Account Number (Account Number and Title) 87A,D Receiver of Securities Preferably BIC code other: local code and name 88A Beneficiary of Securities A, C or D *For fixed income securities, quantities must be expressed in nominal value.

15 For Requests for Cancellation of Securities Instructions: SWIFT Field Tag Required Data Contents MT Related Reference Up to 16 alpha numeric 11A Message Type and Date of Instruction 3 alpha and YYMMDD 79 Narrative Description of Original Message 35*50x *For fixed income securities, quantities must be expressed in nominal value. ** For versus payment instructions only Page 15