External Auditor

According to the Charter, a candidate for an auditor position for independent audit of issuer’s annual financial statements is recommended to the AGSMAnnual General Shareholder Meeting after tenders dealing with the selection of an auditor organization for obligatory audit of the Company. The AGSMAnnual General Shareholder Meeting approves the auditor (auditor organization) of the Company. The AGSMAnnual General Shareholder Meeting arranged on June 27, 2014 (AGSMAnnual General Shareholder Meeting Protocol #7 dd. 27.06.2014) has approved Ernst & Young as the Company’s auditor for 2014. According to the Charter, auditor remuneration is determined by the BoDBoard of Directors. The price and payment procedures are stipulated by the contract concluded between the Company and auditor. The amount of remuneration for the audit of 2014 RASRussian Accounting Standards and IAS financial statements is determined by a BoDBoard of Directors resolution on 25.07.2014 (protocol #149 dd. 28.07.2014), not exceeding RURRussian ruble 4,315,035.48, incl. VAT.