Presentation 26may

8/6/2019 Presentation 26may

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8/8

IMPORTANT INFORMATIONTh co

s of

his docum

hav b pr par d by Op Joi

S

ock Compa y Alfa Ba k ("Alfa Ba k") as I v s

m

R s arch wi

hi

h m a i g of Ar

icl 24 of Commissio Dir c

iv 2006/73/E C impl m

i g

h Mark

si Fi a cial I s

rum

s Dir c

iv 2004/39/E C ("MiFID") Alfa Capi

al Mark

s ("ACM") is dis

ribu

i g

his docum

o i

s cli

s i

h EE A a d acc p

s o r spo sibili

y

owards a y o

h r class s of r cipi

Alfa Ba k a d ACMhav i plac appropria

co flic

s of i

r s

polici s a d proc dur s aim d a

suri g

h obj c

ivi

y of

h i forma

io co

ai d i

his docum

Th i forma

io co

ai d i

his docum

is provid d for i forma

io

purpos s o ly a d is o

a mark

i g commu ica

io i v s

m

advic or p rso al r comm da

io wi

hi

h m a i g of MiFID Th i forma

io mus

o

b us d or co sid r d as a off r or solici

a

io of a off r

o s ll or

obuy or subscrib for a y s curi

i s or fi a cial i s

rum

s I

h UK

his docum

do s o

co s

i

u

a Fi a cial Promo

io wi

hi

h m a i g of s c

io 21 of

h Fi a cial S rvic s a d Mark

s Ac

2000 (as am d d)

ACM is r

gula

d by

h

Fi

a

cial S

rvic

s Au

hori

y (FSA) wi

h FSA r

gis

ra

io

umb

r 416251, for

h

co

duc

of UK i

v

s

m

busi

ss a

d is

h

radi

g

am

of

h

UK bra

ch of Alfa Capi

al Holdi

gs (Cyprus) Limi

d(ACC) , which is au

horiz d by

h Cyprus S curi

i s a d Ex cha g Commissio u d r lic s umb r CIF 025/04. This docum

is o

for dis

ribu

io

o r

ail cli

s as d fi d by MiFID a d may o

b commu ica

d

osuch p rso s . This docum

is o

for dis

ribu

io or us by a y p rso or

i

y i a y jurisdic

io wh r such dis

ribu

io or us would b co

rary

o local law or r gula

io or which would subj c

Alfa Ba k, ACC , ACM or a yo

h r group

i

y

o au

horiza

io , lic si g or o

h r r gis

ra

io r quir m

s u d r applicabl laws . Th i forma

io co

ai d i

his docum

is

h xclusiv prop r

y of Alfa Ba k. U au

horiz d duplica

io , r plica

io or diss mi a

io of

his docum

, i whol or i par

, wi

hou

h xpr ss wri

co s

of Alfa Ba k is s

ric

ly prohibi

d. Al

hough

h i forma

io i

his docum

has b ob

ai d from , a d is bas d o , sourc s Alfa Ba kb li v s

o b r liabl , n o r pr s nt a tion or warra nt y, ex pr e ss or impli e d , is mad e by Alfa Ba nk, ACM or the au thors . ACM and its office rs a nd e mployee s do no t acc e p t a n y r e spo nsibility as to the accura tene ss or compl etene ssof a n y in forma tion he r e in or as to wh et he r a n y ma te rial fac ts hav e been omitte d . All in forma tion s ta te d h e r e in is subj e ct to cha nge withou t n otice. ACM mak e s n o warra nt y or r e pr e sent a tion t ha t an y s e curi tie s r e f e rr e d to h e r e inar e sui table for all r e cipient s a nd a n y r e cipient s co nsid e ring i nve s tment de cisions should s ee k appropria te inde pen dent advic e. N othing i n t his docum ent cons titute s ta x, le gal or accou nt in g advic e. Alfa Bank, ACC a nd the ir associa te d compa n ie s , office rs , dir e ctors or e mployee s ( ex cluding a n y fina ncial a n alys ts or o the r p e rso nne l involve d i n the produc tion of r e se arch) , from time t o time, may d e al in, hold or ac t as mark et mak e rs or advisors ,broke rs or comm e rcial a nd/or inve s tment ba n ke rs i n r e la tion to the s e curitie s , fina ncial ins trument s a nd compa n ie s m ent ione d in this e mail, or may hav e been, or may b e r e pr e sente d o n t he board of such compa n ie s . If suchcircums ta nce s aris e, ACM, Alfa Bank, ACC a nd the ir associa te d compa n ie s hav e in plac e appropria te co nflicts of inte r e s t policie s a nd proc e dur e s to en sur e t ha t in ve s tment r e se arch r e mai ns i nde pen dent a nd obj e c tive. Asummary of ACC's co nflicts of inte r e s ts policy (which also cov e rs ACM) , cont ain ing d et ails r e le vant t o inve s tment r e s e arch , is availabl e upo n r e qu e s t from ACC or ACM . ACC a nd ACM hav e arra n ge d for Alfa Ba nk a nd o the r r e le vant group ent itie s i nvolve d in t he produc tion of r e se arch to imple ment e quivalent policie s . Alfa Bank is incorporated , focused and based in the Russian Federation and is not affiliated with US -based Alfa Insurance.

Presentation 26may

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