Payment of income in Russian roubles on securities held in international depositories

Funds to holders of securities-clients of Russian depositories will be delivered in Russian roubles in the manner prescribed by Article 8.7 of Federal Law No. 39-FZ of 22 April 1996 “On the Securities Market", i.e. by so-called "cascade payments”.

If your securities are accounted for in NSD, your will receive income payments in roubles from your depository as before. You do not need to submit any application or further forms to NSD.

List of international depositories with securities accounts at NSD

If your securities are accounted for in international depositories with securities account opened with NSD to record such securities, you need to have your title to securities confirmed in order to receive income payments.

NSD will request international securities depositories to disclose information about holders and will provide a list of documents that need to be further submitted to NSD for pay outs. Subsequently, the foreign nominee shall submit to NSD the information of holders of securities as requested (the List of Holders from the Foreign Nominee Holder) within 70 days as from the date of request.

After that, the course of action will depend on whether the foreign nominee provides the requested information in due time.

1. A foreign nominee holder submits information at NSD’s request

   Where the foreign nominee holder submits information at NSD’s request, you will need to submit to NSD the documents for tax withholding purposes along with other documents referred to in the List of Documents to be submitted to NSD by holders of securities to receive income proceeds on securities (in cases where the Foreign Nominee Holder has/has not made the List of Holders available) (the "List of Documents").

   Please note that NSD will only make income payments if it receives the List of Holders from the Foreign Nominee Holder within 70 days of the date of the request;

   In addition, within the same 70-day period, the following documents must be provided:

   Documents necessary for the accurate calculation of the tax,

   Documents on the successive chain of holders for all transactions entered into after 1 March 2022, or documents certifying that no transactions occurred after 1 March 2022, in order to receive an income payment to a bank account other than a Type C bank account (except for an income payment on Eurobonds of foreign issuers that are not foreign persons listed under Paragraph 1 of Presidential Decree No. 95, where NSD provides centralised recordkeeping of ownership (mandatory centralised safekeeping).

   For beneficiaries (ultimate beneficial owners) receiving payments in 2026, the following document must be provided:

   • Documents identifying the beneficiary (ultimate beneficial owner);
   • Documents confirming the legal relationship between the beneficiary (ultimate beneficial owner) and the foreign entity that holds the securities;
   • Documents proving the beneficiary's right to receive dividends.

   Failure to provide these documents will result in the inability to transfer income payments to the beneficiary (ultimate beneficial owner).

   • The types of documents to be submitted to NSD, either independently or through a foreign nominee holder, are listed in the third section of the list - "Documents to be provided by holders where the List from the Foreign Nominee Holder has been made available".

   Original documents may be delivered to NSD in person to the address: 12 Spartakovskaya St., Moscow, 105066 or by Russian Post or other telecom operators.

   Documents are accepted at the office:

   • MON – THU: 09:00 – 18:00 (break: 13:00 – 13:45)
   • FRI: 09:00 – 16:45 (break: 13:00 – 13:45)

   Make an appointment to apply

   Important Note: the documents will be accepted if they are submitted together with the Notice of Delivery Information (Documents) to the Foreign Nominee Holder's List or the Notice of Delivery of Further Information (Documents) to the previously submitted Request/Notice.
   Once NSD verifies the documents received and provided that it has no comments regarding the documents, the income payments due will be transferred to the details specified on the Foreign Nominee Holder's List within 3 business days.

   If the details specified in the List are incorrect, NSD will transfer the funds to the details specified in your Notice of Delivery of Information (Documents) to the Foreign Nominee Holder's List, or the Notice of Delivery of Further Information (Documents) to the previously submitted Request/Notice.

   If a payout is to be made to a Type C bank account and the List by the Foreign Nominee Holder does not provide details of a Type C bank account, NSD will open a Type C account for a legal entity or request another credit institution to open a Type C account for an individual and transfer payouts due to that individual to that account. You will receive a notification containing the name of the credit institution and the account details. For non-residents, it is crucial thatthat the List by the Foreign Nominee Holder includes your email address to receive this notification. For residents, the notification will be sent via Russian Post.

   During the submission period for the List by the Foreign Nominee Holder, you may submit alternative Type С account details using the Notice of Delivery of Information (Documents) to the Foreign Nominee Holder's List, or the Notice of Delivery of Further Information (Documents) to the previously submitted Request/Notice.

   Please note that if there are reasonable doubts as to the completeness and/or reliability, or sufficiency of the information contained in the documents, NSD may refuse to make Income Payments to the security holder concerned.

   If you have any questions regarding income payments on securities held with international securities depositories, please send your query at .

2. A foreign nominee holder fails to provide the information requested by NSD or provides it later than the deadline set by NSD

   If the foreign nominee holder fails to provide NSD with the List of Holders from the Foreign Nominee Holder or provides it later than 70 days from the date of NSD's request, then, to receive an income payment you must submit to NSD a request for the payout in respect of the securities (the "Request"), and the documents referred to in  section 4 of the "List of Documents that must be submitted by security holders to NSD for the purposes of receiving income payments on securities (where the List of Holders from the Foreign Nominee Holder has and has not been made available)" - Documents to be provided by Holders where the List from the Foreign Nominee Holder has not been made available".

   The Request and  documents must be submitted to NSD within 30 (thirty) business days after the deadline set out in clause 1.4 of the Decisions of the Board of Directors of the Bank of Russia dated 2 December 2024 and 26 December 2025. The term is defined as follows: 70 (seventy) days for submission of the List from the Foreign Nominee Holder + 3 (three) business days for making the income payment.

   The income payments received by NSD in 2025 are subject to the Decision of the Board of Directors of the Bank of Russia dated 24 December 2024.

   Original documents may be delivered to NSD in person to the address: 12 Spartakovskaya St., Moscow, 105066, by Russian Post or other telecom operators.

   Documents are accepted at the office:

   • MON – THU: 09:00 – 18:00 (break: 13:00 – 13:45)
   • FRI: 09:00 – 16:45 (break: 13:00 – 13:45)

   Make an appointment to apply

   Once the NSD verifies the Request and documents you have submitted, you will be notified of the results of the check. If there are no comments, the income payments due will be transferred to the account specified in the Request no later than five (5) business days after the deadline for accepting Requests.

   If the income payment is to be made to a Type C bank account and such an account is not available, NSD will open a Type C bank account for the legal entity or request another credit institution to open a Type C bank account for the individual and transfer the income payments due to that individual to that account. You will receive a notification containing the name of the credit institution and the account details. For non-residents, it is crucial that that the Request includes your email address to receive this notification. For residents, the notification will be sent via Russian Post.

   During the period for submitting Requests, you may submit alternative Type С account details using the form of Notice of Delivery of Further Information (Documents) to the previously submitted Request/Notice.

   Please note that the NSD reserves the right to refuse payment of income if there are reasonable doubts about the completeness and/or accuracy of the information provided in the request for payment in relation to securities and the documents attached thereto, or if this information is insufficient.

   For questions, please contact: .

3. Income payments to Type C accounts are made to the following persons (excluding payments on Eurobonds of foreign issuers not listed under Paragraph 1 of Presidential Decree No. 95, where NSD provides centralised recordkeeping of ownership (mandatory centralised safekeeping):

   Persons who are foreign creditors in accordance with item 1 of the Decree 95 of the President of the Russian Federation dated March 2022  "On Interim Procedures for the Fulfilment of Obligations Towards Certain Foreign Creditors", Persons who are not such foreign creditors but who acquired securities from foreign creditors after 1 March 2022,

   Persons who are not such foreign creditors but who have not submitted documents and assurances in accordance with the third subparagraph of paragraph 1.3 of the Decision of the Board of Directors of the Bank of Russia dated 24 December 2024 and 26 December 2025.

   Residents and Residents of the Republic of Belarus who fail to submit, within the deadline, documents confirming the chain of ownership after 1 March 2022, or documents certifying no transactions occurred after 1 March 2022, may apply to NSD to transfer funds previously credited to a Type C account to a regular bank account (not Type C account), by submitting the required documents under Section 5 (for legal entities) or Section 6 (for individuals) of the List of Documents.

   Upon review, you will receive an electronic notification at the email address provided in your Application (Form Appendix 8/8.1/8.2/8.3, as applicable).

4. Claiming unclaimed dividends

   If you missed the deadline to apply for dividend distribution to NSD, then, in accordance with Clause 9, Article 42 of the Federal Law "On Joint-Stock Companies" you have the right to receive unclaimed dividends by requesting payment from the issuer. This applies to dividends where the payment procedures were in effect before 9 September 2024.

   You may independently apply to the issuer for payment of unclaimed dividends within three years (unless the company's charter provides a different term) and provide the documents specified in Clause 2.3 of Bank of Russia Ordinance No. 5364-U dated 23 December 2019 "On the Procedure, Timeframe, and Scope of Information Disclosure" as specified in Clause 13, Article 8.7 of the Federal Law "On the Securities Market" (the "Ordinance"). 

   You may request dividend payment and sent the accompanying documents through depositories that maintain records of rights to your securities, if such a service is provided for by the depository agreements.

   NSD provides services to assist its clients, foreign nominee holders, in receiving unclaimed dividend payments returned to issuers in accordance with the Bank of Russia Board of Directors' Decisions regulating the activities of professional securities market participants engaged in depository operations, when transferring dividends paid on shares of Russian joint-stock companies.

   Under this service, NSD forwards your Dividend Payment Request and the supporting documents, in accordance with Section 2.3 of the Ordinance, received from the foreign nominee holder, to the registrar no later than three (3) business days following the business day of receipt of the Request for onward transmission to the issuer.

   NSD does not verify the Request or the supporting documents and does not guarantee that the issuer will approve the payment of unclaimed dividends.

   Based on its review of the documents, the issuer has the right to pay dividends according to the details specified in the request.

   If the issuer or registrar requests additional documents, NSD will request them from the foreign nominee holder and, upon receipt, will resubmit them to the registrar.

   If you have any questions, please use the dedicated email address .

More

FOR SHARES: The list of issuers in respect of which requests have been sent to foreign nominee holders, with deadlines for disclosure and submission of documents by holders of shares

FOR BONDS: The list of issuers in respect of which requests have been sent to foreign nominee holders, with deadlines for disclosure and submission of documents by holders of bonds

To find out whether the foreign nominee holder disclosed information about you and the quantity of securities belonging to you, you can contact the broker through whom they were purchased or through the depository with which you have a depository agreement to hold them, and which records the rights to them.

If the chain of recordkeeping the rights to your securities involves a Russian depository other than NSD, to receive income payments you need to contact this depository.
You can receive all information regarding the procedure to receive income payments on securities either

• from the foreign nominee holder for whom a securities account has been opened with the Russian securities depository, other than NSD and/or
• from such Russian securities depository.

To find out the chain of recordkeeping for your securities you can contact the broker through whom they were purchased or through the depository with which you have a depository agreement to hold them, and which records the right to such securities.

If you keep records of Eurobonds of foreign issuers, the obligations under which are fulfilled by Russian legal entities, in a Russian depository and the chain of recordkeeping of title to securities does not involve NSD, the information about you or about the total quantity of securities (as per request of the Russian legal entity that fulfils obligations in respect of securities) should be disclosed by this Russian depository at NSD's request.

If you do not receive income payments on such bonds from the Russian securities depository by the due date, you should contact your Russian securities depository for further details. You do not need to submit any application or further forms to NSD.