1. Export financing under cover of Export Insurance Agency of Russia Promsvyazbank, 2015

2. page 2 EXIAR: general information The Russian Agency for Export Credit and Investment Insurance (EXIAR) is a 100% subsidiary of the State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)”. Strategic areas of activity: insurance support for the export of Russian goods and services; the development of a modern export financing system, secured by the Agency’s insurance coverage; insurance support of Russian investments abroad (EXIAR covers up to 90% of commercial risk and up to 95% of political risk). Insurance capacity of EXIAR is limited to RUB 300 bn (ca. USD 10 bn). AGENCY COVERS UP TO 90% OF COMMERCIAL RISK AGENCY COVERS UP TO 95% OF POLITICAL RISK Breach of the debtor’s obligations under the covered transaction Insolvency (bankruptcy) of the debtor (foreign buyer) Baseless suspension in performance or breaking off of the contract Intervention of the foreign government, which is hamper to fulfil the contract Breach of the debtor’s obligations due to declare of a government’s moratorium Nationalization, confiscation of the assets, force majeur (war, civil unrest, act of god)

3. Promsvyazbank & EXIAR Cooperation 3 According to EXIAR estimations Promsvyazank takes 23% share of all the EXIAR-covered transactions value In 2Q 2013 the 1st Supplier’s Credit deal was booked: borrower - Ruselprom Trade House Ltd, loan agreement amount – EUR 1,4 mln. In 3Q 2014 the 1st Buyer’s Credit deal was booked: borrower – OJSC “BMZ” (Republic of Belarus), loan agreement amount – USD 18,9 mln. As at the end of 2014 about 60 export deals were booked under the EXIAR coverage for more than USD 100 mln. AS AT THE END OF 2014 PROMSVYAZBANK HAS IMPLEMENTED ALL KEY EXIAR PRODUCTS: Comprehensive export credit insurance Supplier credit insurance Buyer credit insurance Export factoring insurance Exporter’s working capital credit insurance (product only applies to SME clients) Confirmed letter of credit insurance

4. page 4 EXIAR: core supported sectors* SHIPBUILDING AIRCRAFT AND SPACE VEHICLE GROUND TRANSPORTATION (CARS, TRUCKS, BUSES) RAIL TRANSPORT POWER ENGINEERING AND RADIO ELECTRONICS CHEMICALS TEXTILE AGRARIAN SECTOR * EXIAR does not support the export of gas and oil.

5. page 5 Main principles of EXIAR insurance (Buyer’s credit insurance) The date of shipping and receipt of the payment to the seller’s account. EXPORTER / SELLER – Russian company or its subsidiary abroad. OBJECT OF INSURANCE – principal and interest under the loan agreement. INSURANCE PERIOD correspond to validity of loan agreement. PAYMENT TERMS UNDER EXPORT CONTRACT– wire transfer, unconfirmed sight payment LC (partial advance payment / partial red clause LC is also acceptable). EXPORTER / SELLER – Russian company or its subsidiary abroad. OBJECT OF INSURANCE – principal and interest under the loan agreement. INSURANCE PERIOD correspond to validity of loan agreement. PAYMENT TERMS UNDER EXPORT CONTRACT– wire transfer, unconfirmed sight payment LC (partial advance payment / partial red clause LC is also acceptable). EXIAR INSURES : RISK IS TAKEN TO: INSURANCE COVERAGE START FROM : Principal and interest amount under the loan agreement concluded with PSB. Current borrower, taking into consideration borrower’s financials and the terms of financing. If the Exporter operates through its foreign subsidiary, loan may be offered to this subsidiary in order to effect payment under export contract concluded with Russian Exporter.

6. page 6 EXIAR advantages (Buyer’s credit insurance) Opportunity to make better tender proposal Financing for the necessary period Credit debts are on the buyers balance Receipt of the payment after the shipment of the goods EXIAR covers up to 90% of the loan agreement Export financing under the current trade contract Benefit terms of financing Opportunity to decrease the price of the goods due to rejection of deferred payment period Advantages for the Sellers: Advantages for the Buyers:

7. page 7 Buyer’s credit insurance OBJECT OF INSURANCE: Medium and long-term financing offered by a Promsvyazbank to a foreign Buyer to pay for the Russian export INSURED: Promsvyazbank VALIDITY OF THE INSURANCE AGREEMENT: Insurance period is correspond with term of the loan agreement THE AMOUNT OF INSURANCE COVERAGE: Covered risks include commercial (bankruptcy of a foreign Buyer) and political (inability to convert currency, prohibition on the transfer of currency from the Buyer's country, non-performance of obligations by foreign government companies and organizations) risks THE PROCEDURE FOR IMPLEMENTING OF THE DEAL: 1.Conclusion of the export contract. 2.Conclusion of Insurance agreement with EXIAR; payment of insurance premium. 3.Shipping of the goods. 4.Financing of the Buyer. 5.Payment to the Seller on due date. 6.Repayment of the loan by the Buyer. Payment of insurance premium

8. List of the necessary documents and information page 8 ИНФОРМАЦИЯ ПРЕДОСТАВЛЯЕМАЯ КЛИЕНТОМ - EXPORT CONTRACT / THE DRAFT OF EXPORT CONTRACT and information about the payment terms under export contract in case of EXIAR insurance under transaction; - CONSTITUENT OF THE CONTRACT VALUE (RUSSIAN AND FOREIGN PART); - VOLUME OF TRADE TURNOVER (previous year and plan for current year); - FINANCIAL STATEMENTS OF THE BUYER: balance sheet, statement of profit and loss (for the last two years); - INFORMATION ABOUT THE REQUIRED FINANCING (term of tranches, repayment schedule). - EXPORT CONTRACT / THE DRAFT OF EXPORT CONTRACT and information about the payment terms under export contract in case of EXIAR insurance under transaction; - CONSTITUENT OF THE CONTRACT VALUE (RUSSIAN AND FOREIGN PART); - VOLUME OF TRADE TURNOVER (previous year and plan for current year); - FINANCIAL STATEMENTS OF THE BUYER: balance sheet, statement of profit and loss (for the last two years); - INFORMATION ABOUT THE REQUIRED FINANCING (term of tranches, repayment schedule). Business meeting for identification of funding needs Disbursement of a tranche Analysis of the financial statements of the borrower The collection of documents required EXIAR Receipt EXIAR agreement to insure the deal Preparing of the preliminary terms of financing of the project Open of the borrower’s account in Promsvyazbank Drafting and negotiation of credit documentation Signing of the credit documentation The fulfillment of precedent conditions under the credit agreement, reimbursement of the insurance premium EXIAR Information required from the client: Presenting of the documents confirming purpose payment in accordance with credit documentation

9. page 9 Main principles of EXIAR insurance (Seller’s credit insurance) Date of shipping of the goods, date of the performance of the seller’s obligation under the export contract. EXPORTER / SELLER – Russian company or its subsidiary abroad. OBJECT OF INSURANCE – current export contract or trade turnover. INSURANCE PERIOD correspond with deferred payment period specified in export contract. PAYMENT TERMS UNDER EXPORT CONTRACT– deferred payment, unconfirmed LC with or without deferred payment period. EXPORTER / SELLER – Russian company or its subsidiary abroad. OBJECT OF INSURANCE – current export contract or trade turnover. INSURANCE PERIOD correspond with deferred payment period specified in export contract. PAYMENT TERMS UNDER EXPORT CONTRACT– deferred payment, unconfirmed LC with or without deferred payment period. EXIAR INSURES : RISK IS TAKEN TO: INSURANCE COVERAGE START FROM : Current export contract or trade turnover. Current buyer (-s), taking into consideration his payment discipline, operational experience, deferred payment period. If the Exporter operates through its foreign subsidiary, EXIAR may insured the contract concluded with final buyer (-s).

10. page 10 EXIAR advantages (Seller’s credit insurance) Increase of the export volume, new markets penetration and attracting new customers Removal of administrative liability and sanctions stipulated by the administrative code and the currency control for the non-admission of export proceeds to the Russian Federation The volume of the required pledge is lower in comparison with standard credit products Longer deferred payment period increase buyers’ loyalty The amount of insurance premium payable by the exporter decrease the taxable base for the tax on profit Financing costs under transactions covered by the EXIAR will be lower in comparison with standard financing EXIAR covers commercial risks (breach of the payment, bankruptcy, delay in payment) and political risk Advantages for the exporters:

11. page 11 Seller’s credit insurance OBJECT OF INSURANCE: Export contract/project* INSURED/LOST PAYEE: The seller is insured. Promsvyazbank is the loss payee under the insurance agreement VALIDITY OF THE INSURANCE AGREEMENT: Validity of the insurance agreement is correspond with validity of the export contract THE AMOUNT OF INSURANCE COVERAGE: EXIAR covers up to 90% of commercial (bankruptcy) and up to 95% of political (prohibition on the transfer of currency from the buyer's country, non-performance of obligations by foreign government companies and organizations) risks THE PROCEDURE FOR IMPLEMENTING OF THE DEAL: 1.Conclusion of the export contract. 2.Conclusion of the trilateral insurance agreement between EXIAR, Seller and Promsvyazbank; Payment of EXIAR premium. 3.Shipping of the goods. 4.Financing of the Seller. 5.Payment to the Seller on the due date. 6.Repayment of the loan by the Seller. 7.EXIAR effect constant monitoring of the creditworthiness of the Buyer to prevent future losses. * If the exporter has a lot of export contracts, it is possible to conclude one complex insurance agreement.

12. Contacts Alexander Mescheryakov Tel.+7(495)777-1020 ext.70 65 10 Deputy Head of Corporate Unit and Managing Director, International, Fax: +7(495)777-1021 ext.70 65 10 Documentary and Transaction Business mescheryakovayu@psbank.ru http://www.psbank.rumescheryakovayu@psbank.ruhttp://www.psbank.ru Olga Krivosheenko Tel.+7(495)777-1020 ext.70 65 43 Deputy Head, nternational, Documentary and Transactional Business Department - Fax: +7(495)777-1021 Head of Sales Division krivosheenko@psbank.rukrivosheenko@psbank.ru http://www.psbank.ru