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PRESIDENTIAL DECREE OF THE RUSSIAN FEDERATION

of September 9, 2023 No. 665

About temporary procedure for execution before residents and foreign creditors of the state debt obligations of the Russian Federation expressed in government securities which nominal value is specified in foreign currency, and other obligations on foreign securities

(as amended on 09-08-2024)

In addition to the measures provided by the Presidential decree of the Russian Federation of March 5, 2022 No. 95 "About temporary procedure for obligation fulfillment before some foreign creditors" I decide:

1. Determine that:

a) for the purpose of execution by the Russian Federation before residents and foreign creditors of the state debt obligations of the Russian Federation expressed in government securities which nominal value is specified in foreign currency (further - eurobonds of the Russian Federation) which rights to eurobonds of the Russian Federation are considered by the foreign organizations - the nonresidents having the right according to their personal law to perform accounting and transition of the rights to securities (further - foreign depositaries), the Russian Federation has the right to send to the non-bank credit institution which is the central depositary according to the Federal Law of December 7, 2011 No. 414-FZ "About the central depositary" (further - the central depositary), the statement for opening addressed to foreign depositary (without personal presence of his representative) the count of type "I" which is kept in rubles;

b) the account of type "I" can be open addressed to several foreign depositaries;

c) beneficiaries on the account of type "I" are the owners of eurobonds of the Russian Federation and other persons determined according to the procedure, established by the Ministry of Finance of the Russian Federation in coordination with the Central bank of the Russian Federation (further - holders of eurobonds of the Russian Federation);

d) indexation of the cash amounts credited into the account of type "I" till September 15, 2023 inclusive is made for the purpose of implementation of payments to the holders of eurobonds of the Russian Federation included in the register of holders of eurobonds of the Russian Federation till November 23, 2023 inclusive at the foreign exchange rate which is created in the domestic foreign exchange market of the Russian Federation in which obligations on eurobonds of the Russian Federation are expressed, according to the procedure, established by the Ministry of Finance of the Russian Federation in coordination with the Central bank of the Russian Federation;

e) The Ministry of Finance of the Russian Federation has the right to conclude with the central depositary, the Russian credit institutions and other persons of the agreement, indexations, necessary for implementation, of the cash amounts credited into the account of type "I" taking into account provisions of the subitem "g" of this Item;

e) indexation of the cash amounts credited into the account of type "I" since September 16, 2023 is made on established by the Central bank of the Russian Federation for the 91st day after date of the next payment on eurobonds of the Russian Federation determined by the prospectus of the issue, to the foreign exchange rate in which obligations on eurobonds of the Russian Federation are expressed. Such indexation is made by the Ministry of Finance of the Russian Federation at the expense of means of the federal budget. The procedure for such indexation is established by the Ministry of Finance of the Russian Federation in coordination with the Central bank of the Russian Federation;

g) the mode of the account of type "I" is established by the solution of the Board of directors of the Central bank of the Russian Federation which is subject to official publication according to article 7 of the Federal Law of July 10, 2002 No. 86-FZ "About the Central bank the Russian Federation (Bank of Russia)";

h) on the money considered on the account of type "I" collection according to executive documents cannot be turned, it is seized, concerning them the requirement about collection of obligatory payments cannot be declared, other interim measures cannot be taken if court resolutions and acts of other bodies are taken out after January 3, 2024.

2. Determine that the central depositary:

a) transfers payments to holders of eurobonds of the Russian Federation (except for foreign nominee holders) which rights to eurobonds of the Russian Federation are considered by the central depositary or depositors of the central depositary, according to the procedure, stipulated by the legislation the Russian Federation, in the terms established by the prospectus of the issue;

b) transfers payments to depositaries for which for accounting of the rights to eurobonds of the Russian Federation the account of person including which is acting for the benefit of other persons in foreign depositary is opened (further - the Russian depositaries), to the terms established by the prospectus of the issue based on the Russian Federation provided by the Russian depositaries to the central depositary on its information request about total quantity of eurobonds which are considered on such accounts;

c) opens accounts of type "I" addressed to foreign depositaries (without personal presence of their representatives) and enlists in the terms established by the prospectus of the issue into these accounts money for the subsequent transfer of payments to holders of eurobonds of the Russian Federation, the rights to which are considered by the specified foreign depositaries, and to the Russian depositaries which provided to the central depositary on its request information specified in the subitem "b" of this Item after the expiration of fixed term in the amount which procedure for determination is established by the Ministry of Finance of the Russian Federation in coordination with the Central bank of the Russian Federation;

d) creates at the request of the Russian Federation the register of holders of eurobonds of the Russian Federation for transfer of payments to holders of eurobonds of the Russian Federation, the rights to which are considered by foreign depositaries. The holder of eurobonds of the Russian Federation joins in this register on condition of provision to the central depositary of documents which confirm the rights of the holder of eurobonds of the Russian Federation and which list is determined by the Ministry of Finance of the Russian Federation in coordination with the Central bank of the Russian Federation (further - supporting documents). For the purpose of obtaining from holders of eurobonds of the Russian Federation of supporting documents the central depositary attracts authorized organizations which list is determined by the Government of the Russian Federation;

e) performs according to the procedure, determined by the Ministry of Finance of the Russian Federation in coordination with the Central bank of the Russian Federation, necessary actions for transfer:

to holders of eurobonds of the Russian Federation of money in rubles or currency in which obligations on eurobonds of the Russian Federation are expressed;

to the Russian depositaries specified in the subitem "v" of this Item, money in rubles.

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