Management Statement of Responsibility

I hereby confirm that:

• the financial statements prepared in accordance with the International Financial Reporting Standards represent an accurate and fair reflection of the Company’s assets, liabilities, financial position, profits, and losses as well as those of its consolidated subsidiaries as a whole; and
• the management report includes a fair description of the development and performance of business operations and the Company’s position as well as that of its consolidated subsidiaries as a whole along with a description of the main risks and uncertainties they face.

Dmitry Kirsanov
Member of the Board of Directors and CEO