1Q 2018 Business Overview
Dividend payments for DR holders
FX rate determination for dividends
FX rates for conversion of dividends are
determined in non-transparent manner
According to information from notices for
DR holders³:
Local Shares
DR
Issuer
Record
date
Payable date FX rate¹
Payable
FX rate²
Diff.
date
MMK
11 Jun 17
21 Jun 17
59.6
28 Jun 17
60.2
1.0%
Custodian DR issuer has no obligation to
obtain the "best price" for any FX Trade
The conversion rate reflects a foreign
currency transaction ("FX Trade")
executed by the Custodian DR issuer as
principal counterparty and not as agent,
fiduciary or broker
Akron
11 Jul 17
18 Jul 17
59.1
25 Jul 17
59.7
1.0%
MTS
10 Jul 17
25 Jul 17
59.5
1 Aug 17
60.0
1.0%
NCSP
-
30 May 17
22 Jun 17
59.6
29 Jun 17
60.0
0.7%
Novatek
2 May 17
23 May 17
56.3
30 May 17
56.7
0.7%
Norilsk Nickel
23 Jun 17
10 Jul 17
60.3
17 Jul 17
60.7
0.7%
Tatneft
7 Jul 17
26 Jul 17
59.5
2 Aug 17
59.8
0.5%
DR holders received their dividends one week later compared with holders of the ordinary shares
| Payable date for
ordinary shares
in RUB
Date of notice and
determination of FX rate
for RUB to USD conversion
4
5
Source: Moscow Exchange
Average weighted USD/RUB FX rate at Moscow Exchange
☑
MOSCOW
EXCHANGE
1
2
FX rate for dividends conversion
3
Publicly available information on the Custodian - DR issuer web site
7
Days
Λ
i Payable date for DR
in USD
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