Remuneration Report

The remuneration structure for members of the Company’s governing bodies is largely determined by the Board of Directors and the Personnel and Remuneration Committee of the Board of Directors, which also undertakes preliminary analysis of matters pertaining to the establishment of an efficient and open compensation practice within the Company.

The remuneration structure for members of the Company’s governance bodies is designed to attract, motivate and retain individuals with the skills and expertise required for the Company’s efficient management, the accomplishment of its set strategic objectives and the completion of assigned tasks.

The principles and recommendations of the Bank of Russia’s Corporate Governance Code, as well as the Company’s current approach to accruing salary and compensation, serve as the foundation for the development of the remuneration plans for members of its governing bodies.