Ref. No. НРД-И-2026-12601 dated 3 June 2024

To NSD's clients

Pursuant to the decision of the Executive Board dated 16 July 2026, NSD announces the extension of the marketing periods (i.e. that no service fees will be charged) for the following services from 1 July 2026 to 31 December 2026:

1.1.  the acceptance into/withdrawal from custody of securities and/or recordkeeping through international securities depositories, other than CIS countries depositories, on FOP and DVP terms,

1.2.  the transfers of shares to/from a sub-account "Securities represented under depositary receipts programs" of the securities account for their subsequent crediting to securities accounts on the instruction of the client to whose securities account the shares are to be credited,

1.3.  the transfers of securities of Russian and/or international issuers, following trades in the securities (clauses 4.1. and/or 15.1 of NSD Fees for Depository Services), provided that the following conditions are met:

·      the transfer in question is a transfer of securities of Russian and (or) foreign issuers as a result of trades authorised by the Government Commission on Control over Foreign Investments in the Russian Federation, issued for the purpose of implementing additional temporary measures of an economic nature to ensure the financial stability of the Russian Federation and other permits provided for by separate Decrees of the President of the Russian Federation, and (or) on the basis of a dedicated decision of the President of the Russian Federation,

·      the transfer in question is a transfer of securities under counter instructions of the sending client (or the securities account/sub-account operator) and the receiving client (or the securities account/sub-account operator) without cash settlement (Transaction Code 16 and 16/1), (including for type "C" securities account transactions), subject to the approval of the Government Commission authorisation and the following wording in the Additional Information field of each instruction: "Transfer based on the authorisation of the Government Commission dated (date)" and "Transfer based on the decision of the President of the Russian Federation dated (date)". Such a comment means an assurance by the client that it has the authorisation of the Government Commission and/or a dedicated decision of the President of the Russian Federation to carry out trades in these securities,

AND/OR

·      securities are transferred within one securities account at the direction of the client (Transaction Code 20),

·      the client provides NSD, not later than the last business day of the reporting month, with a list of client's instructions falling within the marketing period, where the following information must be indicated (Transaction Code 20):

o     the instruction number and date,

o     date of the authorisation of the Government Commission and/or the date of the dedicated decision of the President of the Russian Federation,

AND/OR

·      securities are transferred between securities accounts on the instruction of the sending client without confirmation from the receiving client (Transaction Code 10) and specifying in the Additional Information field of the instruction of the following: "Transfer based on the authorisation of the Government Commission dated (date)" and "Transfer based on the of the President of the Russian Federation dated (date)". Such a comment means an assurance by the client that it has the authorisation of the Government Commission and/or a dedicated decision of the President of the Russian Federation to carry out trades involving the securities being transferred,

1.4.  participation of a person exercising rights on securities in corporate actions, in accordance with clauses 5.2-5.5 of the NSD Fees for Depository Services, provided that the following conditions are simultaneously met:

·      trades in securities are executed with non-resident investors who will be entitled to sell the securities of Russian issuers as part of an offer to purchase them by a resident issuer,

·      trades in securities have been authorised by the Government Commission on Monitoring Foreign Investments in the Russian Federation issued for the purpose of implementing additional temporary measures of economic nature to ensure financial stability of the Russian Federation and other authorisations provided for by certain decrees of the President of the Russian Federation (the "authorisation of the Government Commission"),

·      and (or) by virtue of a dedicated decision of the President of the Russian Federation issued in accordance with the decrees of the President of the Russian Federation (the "dedicated decision of the President of the Russian Federation"),

·      the client provides NSD, not later than the last business day of the reporting month, with a list of corporate action instructions ("CA") falling within the marketing period, where the following information must be indicated:

o     the number and date of the CA instruction,

o     CA Reference,

o     date of the authorisation of the Government Commission and/or the date of the dedicated decision of the President of the Russian Federation.

The marketing period is applied provided that the transactions comply with the requirements of the legislation of the Russian Federation, regulations of the Bank of Russia and the Board of Directors of the Bank of Russia, and official guidance issued by the Bank of Russia.

1.5.  the transfer of securities of Russian and/or international issuers (clauses 15.1 and 4.1 of the NSD Fees for Depository Services) involving the transfer of ownership following trades executed between a resident and a resident, friendly non-resident or a controlled foreign company (CFC), subject to the following conditions:

1.5.

1)   the transfer in question is a transfer of securities of Russian and/or international issuers whose ISINs are indicated in:

·              official information, submitted to NSD by the resident holding securities (shares) of the Russian issuer or another person exercising rights attached to the securities (shares) of the Russian issuer, containing details of a public offer (invitation to make an offer) by these persons to the shareholders of the international issuer to make trades aimed at exchanging securities (shares) of the foreign issuer for securities (shares) of the Russian issuer,

       AND

·              a public offer (invitation to make an offer) by the resident holding securities (shares) of the Russian issuer or another person exercising rights attached to the securities (shares) of the Russian issuer to the shareholders of international issuer to make trades to exchange the international securities (shares) for the Russian securities (shares).

2)   this is the transfer of securities of Russian and/or international issuers effected:

·              following the end-of-day clearing to settle trades in securities (shares) executed on Moscow Exchange, with the ISINs of the securities (shares) listed in the information provided pursuant to paragraph 1 of the marketing period conditions (Transaction Code 14 – Transfer Following End-of-Day Clearing),

AND/OR

·              via counter instructions from the sending client (or the  operator of the account/ securities account segment) and the receiving client (or the  operator of the account/ securities account segment), in which the Additional Information field states ‘transfer of securities under a public offer/invitation by the resident exercising rights attached to the securities of the Russian issuer’, without cash settlement (Transaction Codes 16 and 16/1); and, where the sending client and the receiving client are the same entity, via the instruction from the sending client (Transaction Code 10).

These marketing periods apply (including to type "C" securities accounts) provided that transactions conducted in accordance with this clause, comply with the requirements of Russian Federation legislation, including the regulatory acts of the Bank of Russia, the decisions of the Bank of Russia Board of Directors, and the official guidance issued by the Bank of Russia.

If you have any enquiries regarding this information letter, please contact your NSD account managers by phone at
+7 495 956-27-90, +7 495 956-27-91.