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NOTICE OF BUY-BACK AND CANCELLATION OF NOTES BY CBOM FINANCE P.L.C.

19.03.2020

From time to time over the last several years, CREDIT BANK OF MOSCOW (public joint-stock company) (“CBM”) has purchased outstanding loan participation notes (the “Notes”) issued by CBOM Finance p.l.c. (“CBOM”) through open market purchases made by or on behalf of CBM and/or tender offers completed by CBOM (at the request of CBM). The principal amount of the Notes so purchased and not currently cancelled is U.S.$433,757,000 (in respect of the US dollar-denominated Notes) and EUR122,880,000 (in respect of the Euro-denominated Notes) in the aggregate (as set out in column A below in more detail). CBM currently holds such Notes as part of its treasury and liquidity management functions together with certain other instruments in its securities portfolio.

In order to proactively manage its liabilities and decrease its risk weighted assets denominated in foreign currencies, CBM intends to deliver to CBOM for cancellation the Notes in the aggregate principal amounts of U.S.$400,000,000 and EUR100,000,000 (as set out in column B below in more detail), and such Notes are expected to be cancelled with effect from 20 March 2020 (the “Cancellation Date”). Following such cancellations, the total principal amount of each series of Notes held by or on behalf of CBM will be as set out in column C below. CBM intends to hold the Notes referred to in column C below for its own account. CBM intends to hold the Notes which have not been cancelled for its own account and may sell or cancel them in the future. The total principal amount of outstanding Notes of each series (including the Notes retained by CBM) is set out in column D below, and this will be total amount of outstanding Notes of each series that will remain listed on Euronext Dublin.

Description of the Notes

Regulation S ISIN/Common Code

Rule 144A ISIN/CUSIP/Common Code

Aggregate Principal Amount repurchased by CBM

(A)

Principal Amount held by CBM surrendered for Cancellation

(B)

Principal Amount continued to be held by CBM following the Cancellation

(C)

Outstanding Principal Amount following the Cancellation

(D)

U.S.$500,000,000 5.875% Loan Participation Notes due 2021

XS1510534677/ 151053467

US12504PAC41/ 12504P AC4

U.S.$141,762,000

U.S.$125,000,000

U.S.$16,762,000

U.S.$375,000,000

U.S.$500,000,000 5.55% Loan Participation Notes due 2023

XS1759801720 / 175980172

US12504PAF71 / 12504P AF7

U.S.$141,105,000

U.S.$125,000,000

U.S.$16,105,000

U.S.$375,000,000

U.S.$500,000,000 7.121% Loan Participation Notes due 2024

XS1964558339/ 196455833

US12504PAG54/ 12504PAG5

U.S.$150,890,000

U.S.$150,000,000

U.S.$890,000

U.S.$350,000,000

EUR500,000,000 5.15% Loan Participation Notes due 2024

XS1951067039/ 195106703

XS1951067542/ 195106754

EUR122,880,000

EUR100,000,000

EUR22,880,000

EUR400,000,000

With effect from the Cancellation Date, each of the loans made by CBOM to CBM under each applicable Loan Agreement (as defined under the terms and conditions of each series of Notes) will be deemed to have been prepaid by CBM in an amount equal to the applicable principal amount of the Notes so cancelled, and will accordingly be reduced.

CBM, CBOM or any of CBM’s subsidiaries may, from time to time, undertake any additional purchases of the Notes as they may decide in their absolute discretion depending on the market conditions prevailing at that time and in accordance with the terms and conditions of each series of Notes.

This announcement constitutes a public disclosure of inside information under Regulation (EU) 596/2014 (16 April 2014).