The Bank of Russia has resolved that, starting from 9 June 2025, the automatic conversion is to be resumed with regard to the depositary receipts for the shares of Russian issuers (the “DRs”) the programmes for the issuance of which were discontinued pursuant to Federal Law No. 114-FZ “On Making Amendments to the Federal Law ‘On Joint Stock Companies’ and Certain Acts of Law of the Russian Federation” dated 16 April 2022. The procedure and timeframes for the conversion are set out in the Resolution of the Bank of Russia’s Board of Directors dated 6 June 2025.

The conversion is applicable only to the investors whose DRs are recorded in Russian depositories as of the time of the conversion. The DRs will be converted into the corresponding number of ordinary shares automatically, with no participation of their holders, regardless of whether they are Russian residents or not.

Not later than on 17 June 2025, issuers are obliged to send a notice of the commencement of the conversion procedure to the depository which holds the shares represented by the depositary receipts.