Debt and Liquidity Analysis

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Debt and Liquidity Analysis 31 March 2016 year

Debt and Liquidity Analysis(1) Debt composition* Debt maturity profile* RUB bn By maturity By currency By percentage rate Rub 66.9 bn RUB 75.4% USD 19.3% EUR 4.3% Other 1.0% Short-term 32.8% Long-term 67.2% Fixed 36.4% Floating 63.6% * excludes share in debt of joint ventures Total debt statistics⁽²⁾ Debt evolution RUB bn RUB bn -12.0% 1.3x 1.0x -83.1% Adjusted debt2 Adjysted net debt3 as of 31.12.2015 as of 31.03.2016 Includes share in debt of joint ventures Excludes share in debt of joint ventures Total Debt-to-EBITDA ratio Includes financial lease Includes share in debt of joint ventures in the amount of RUB 12.5 bn as of 31.03.2016 (RUB 13.9 bn as of 31.12.2015) Includes cash deposits (3-12 months) in amount of RUB 17.2 bn as of 31.03.2016. (as of 31.12.2015 – RUB 17.8 bn) and share in debt of joint ventures in amount of RUB 12.5 bn as of 31.03.2016. (as of 31.12.2015 - RUB 13.9 bn) Debt and Liquidity Analysis