December 25, 2025

Ref. No. NSD-I-2025-23033 dated December 25, 2025
To Depositors of NSD JSC

NSD, in accordance with the Board of Directors' resolution dated December 23, 2025, hereby announces the extension until June 30, 2026, inclusive, of previously adopted decisions on the following promotional fee waivers:

1. For services related to the participation of a security rights holder in corporate actions, as per paragraphs 5.2–5.5 of the Depository Services Tariffs of NSD, provided that the following conditions are met simultaneously:

   • Securities transactions are concluded with non-resident investors, where non-resident investors are entitled to sell securities of Russian issuers as part of a tender offer made by a resident issuer to acquire them;
   • Securities transactions are executed based on permits issued by the Government Commission for Control over Foreign Investments in the Russian Federation, for the implementation of additional temporary economic measures to ensure Russia's financial stability, and other permits provided for by specific decrees of the President of the Russian Federation (hereinafter "Government Commission Permit"), and/or based on a special decision of the President of the Russian Federation issued in accordance with presidential decrees (hereinafter "Special Presidential Decision");
   • The client submits to NSD no later than the last business day of the reporting month a list of corporate action instructions falling within the promotional period, necessarily indicating: the corporate action instruction number and date, CA reference, date of the Government Commission Permit and/or date of the Special Presidential Decision.

2. For services related to the receipt and/or accounting of foreign securities for safekeeping using Foreign Depository services, excluding CIS depositories, on FOP and DVP terms (paras. 12.1 and 12.2 of the Depository Services Tariffs of NSD).

3. For services related to the withdrawal and/or accounting of foreign securities using Foreign Depository services, excluding CIS depositories, on FOP and DVP terms (paras. 13.2 and 13.3 of the Depository Services Tariffs of NSD).

4. For services related to the transfer of shares into/from the "Representative Securities under Depository Programs" section of a depository account for subsequent crediting to depository accounts upon client instruction, to the depository account where the shares will be credited (para. 4.8 of the Depository Services Tariffs of NSD).

5. For services related to the transfer of securities of Russian and/or foreign issuers as a result of securities transactions (paras. 4.1 and/or 15.1 of the Depository Services Tariffs of NSD), provided the following conditions are met:

   • The transfer is executed based on Government Commission Permits issued to implement additional temporary economic measures for Russia's financial stability, and/or other permits under specific presidential decrees, and/or based on a Special Presidential Decision;
   • The transfer is executed via reciprocal instructions from the sending depositor (or account/depository account section operator) and the receiving depositor of securities (or account/depository account section operator) without monetary settlement (operation codes 16 and 16/1) (including for "Type C" depository accounts), subject to the Government Commission Permit and a note in the "Additional Information" field of each instruction: "Transfer based on Government Commission Permit dated (date)" and/or "Transfer based on Russian Federation President's Decision dated (date)". This indication constitutes the depositor's certification that they hold the requisite Government Commission Permit and/or Special Presidential Decision for the securities transfer;
   • And/or the securities transfer is executed within a single depository account upon depositor instruction (operation code 20);
   • The client submits to NSD JSC no later than the last business day of the reporting month a list of client instructions (operation code 20) falling within the promotional period, necessarily indicating: the instruction number and date, date of the Government Commission Permit and/or date of the Special Presidential Decision;
   • And/or transfers of securities between depository accounts upon the sending depositor's instruction without confirmation from the receiving depositor of securities (operation code 10), with a note in the "Additional Information" field of the instruction: "Transfer based on Government Commission Permit dated (date)" and/or "Transfer based on Special Decision of the President of the RF dated (date)". This indication constitutes the depositor's certification that they hold the requisite Government Commission Permit and/or Special Presidential Decision for the securities transfer.

6. For services related to the transfer of securities of Russian and/or foreign issuers (paras. 15.1 and 4.1 of the Depository Services Tariffs of NSD) involving a transfer of ownership as a result of transactions where one party is a resident, and the other is either a resident, a friendly non-resident, or a Controlled Foreign Company (CFC).
   Subject to the following conditions:

   1. The transfer involves securities of Russian and/or foreign issuers, whose ISINs are listed in the official information of the resident owner of the securities (shares) of the Russian issuer (or other entity exercising security rights thereof), submitted to NSD. This information must contain details of a public offer (invitation to make offers) by the resident owner (or other rights holder) addressed to shareholders of the foreign issuer for concluding transactions aimed at exchanging foreign issuer securities (shares) for Russian issuer securities (shares), AND a public offer (invitation to make offers) by the same party addressed to shareholders of the foreign issuer for concluding transactions aimed at exchanging foreign issuer securities (shares) for Russian issuer securities (shares).
   2. The transfer of securities of Russian and/or foreign issuers is executed:
      • Upon clearing results following trading, in execution of purchase/sale agreements concluded on JSC Moscow Exchange for securities (shares) whose ISINs are listed in the information provided under condition 1 (operation code 14 – Transfer upon clearing results);
        AND/OR
      • Via reciprocal instructions from the sending depositor (or account/depository section operator) and the receiving depositor of securities (or account/depository section operator), with the field "Additional Information" indicating: "Transfer of securities based on public offer/invitation from the resident entity exercising security rights of the Russian issuer", without monetary settlement (operation codes 16 and 16/1); or, if the sending and receiving depositories are the same entity, upon the sending depositor's instruction (operation code 10).

The aforementioned promotional periods apply on the condition that all operations conducted in accordance with this notice comply with the legislation of the Russian Federation, regulatory acts of the Bank of Russia and its Board of Directors, and official clarifications of the Bank of Russia.

For all inquiries related to this notice, please contact your organization's dedicated managers at NSD by phone: +7 495 956-27-90, +7 495 956-27-91.