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RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of February 15, 2025 No. 20

About approval of Changes in Regulations on implementation of depository and clearing activity and ensuring implementation of payment under transactions concerning securities the National Bank of Ukraine

According to Articles 7, of 15, 56 Laws of Ukraine "About the National Bank of Ukraine", Articles 13, of 17, 20 Laws of Ukraine "About depositary system of Ukraine", for the purpose of enhancement of procedure for carrying out payment under transactions concerning securities which accounting according to the legislation of Ukraine is within the competence of the National Bank of Ukraine the board of the National Bank of Ukraine decides:

1. Approve Changes in Regulations on production of depository and clearing activity and ensuring the implementation of payment under transactions concerning securities the National Bank of Ukraine approved by the resolution of Board of the National Bank of Ukraine of December 21, 2017 No. 140 (with changes) (further - Changes in the Provision) which are applied.

2. To management of corporate laws and depository activity of the National Bank of Ukraine (Andrey Suprun) after official publication to inform clients of depositary of the National Bank of Ukraine information on adoption of this resolution.

3. To impose control over the implementation of this resolution on the vice-chairman of the National Bank of Ukraine Yury Geletiya.

4. The resolution becomes effective from the date of, its official publication following behind day, except the subitem 5 of Item 3 and the subitem 2 of item 4 of the Changes in the Provision which are becoming effective since October 1, 2025.

Approved by the Resolution of Board of the National Bank of Ukraine of February 15, 2025 No. 20

Changes in Regulations on implementation of depository and clearing activity and ensuring implementation of payment under transactions concerning securities the National Bank of Ukraine

1. In the Section I:

1) in Item 2 of Chapter 1:

state subitem 5 in the following edition:

"5) date of payment day of implementation of calculations for results of placement of securities, including placement during the auction for exchange of bonds (further - auction for exchange of the OVDP), and/or payments on payment of the income and/or repayment of the securities and/or other payments provided by the prospectus or the decision on issue of the OVDP or the state derivatives, or conditions of corporate transactions (events) with the OVDP or the state derivatives (further - other payments);";

in the subitem 18 of the letter "CPU" to replace with the letters "OVDP";

to add Item after subitem 19 with new subitem 19-1 of the following content:

"19-1) delivery of securities against delivery of securities - the mechanism of payment under transactions concerning the OVDP during which transfer of the OVDP which already are in circulation and in accordance with the terms of the transaction are subject to exchange for the OVDP which are placed (further - the OVDP in the address), and transfer of the amount of cash difference of costs of the OVDP which are placed and OVDPs in the address (if necessary) happen after transfer of the OVDP and/or transfer of the rights to the OVDP and is right on the OVDP, the OVDP placed by the issuer at auction for exchange, with condition of their blocking on the account of the receiver before completion of calculations;";

the second offer of subitem 21 to exclude;

to add Item after subitem 24 with new subitem 24-1 of the following content:

"24-1) cross-border transaction - accounting transaction of write-off/transfer of the Central Bank which is carried out through the established correspondence relations between depositary of National Bank and foreign depositary;";

the paragraph the twenty ninth after the word of "bank" to add with words of "the Cabinet of Ministers of Ukraine";

2) in Chapter 3:

the first, second offer of Item 18 to state in the following edition:

"18. The responsible division drafts the agreements determined by the Law and/or this Provision for provision by National Bank of services of depositary of National Bank and depository institution and approves forms of such agreements by the administrative act of National Bank, except agreements which are signed by accession of the client/depositor to the agreement offered by National Bank. The responsible division has the right to promulgate conditions of the approved forms of agreements on the page of official Internet representative office of National Bank.";

in the second offer of Item 19 of the word "the vice-chairman of National Bank who according to distribution of functional obligations is responsible for implementation of depository activity by National Bank," shall be replaced with words "the administrative act of National Bank";

the subitem 2 of Item 22 after the word "means" to add with the word "systems";

3) in Chapter 3-1:

in the subitem 2 of Item 22-1 of the letter "CPU" to replace with the letters "OVDP";

in Item 22-4:

" to add subitem 1 after the word "payments" with words", "delivery of securities against delivery of securities"";

state subitem 3 in the following edition:

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