Global Equity Services

Depositary Receipts Announcement January 15, 2014

Joint Stock Company – Russian

Deutsche Bank Appointed as Depositary Bank for the Sponsored Level I American Depositary Receipt Program of Joint Stock Company Aeroflot – Russian Airlines Deutsche Bank announced its appointment as depositary bank for the non-capital raising sponsored Level I American Depositary Receipt (ADR) program of Joint Stock Company Aeroflot – Russian Airlines (Aeroflot).

Aeroflot (OTC US: AERZY) is ’s flagship and the largest national air company. A member of the SkyTeam Global , Aeroflot with its partnering members provides service to more than 1,000 destinations in 178 countries. Aeroflot operates one of the youngest and most modern fleets in Europe with 143 aircraft, which carried 19.3 million passengers in the first 11 months of 2013 (29.1 million passengers as Aeroflot Group). Aeroflot is the principal company in Aeroflot Group, which also includes five other Russian carriers: JSC , OJSC , JSC , JSC SAT Airlines and JSC Air. Aeroflot operates through its hub at Sheremetyevo Airport in .*

*Source: Joint Stock Company Aeroflot – Russian Airlines (January 2014)

Depositary Receipt Information Depositary Receipt Contacts Country Russia Global Head of Global Equity New Business Development Services Bozena Trydos Custodian Bank VTB Bank Jose Sicilia Tel: +1 212 250 1204 Effective Date January 14, 2014 Tel: +1 212 250 0124 Broker Services Level I ADR Global Head of Depositary London CUSIP 00777K106 Receipts Tel: +44 20 7547 6500 ISIN US00777K1060 Edwin Reyes New York Symbol AERZY Tel: +1 212 250 1903 Tel: +1 212 250 9100 Exchange OTC Ratio 1 ADS : 5 ORD tss.db.com Eligibility DTC www.adr.db.com [email protected] [email protected]

American Depositary Receipts have been registered pursuant to the US Securities Act of 1933 (the "Act"). This notice has been approved and/or communicated by Deutsche Bank AG New York. The services described in this notice are provided by Deutsche Bank Trust Company Americas (Deutsche Bank) or by its subsidiaries and/or affiliates in accordance with appropriate local registration and regulation. Deutsche Bank is providing this notice strictly for information purposes and makes no claims or statement, nor does it warrant or in any way represent, as to the accuracy or completeness of the information contained herein. This announcement appears as a matter of record only. Neither this announcement nor the information contained herein constitutes an offer or solicitation by Deutsche Bank or any other issuer or entity for the purchase or sale of any securities nor does it constitute a solicitation to any person in any jurisdiction where solicitation would be unlawful. No part of this notice may be copied or reproduced in any way without the prior written consent of Deutsche Bank. Past results are not an indication of future performance. Any financial services or products offered by the Deutsche Bank Group which are subject to supervision by the UK Financial Conduct Authority are only available to clients

who satisfy the regulatory criteria to be a professional client, set out in the Authority‘s rules and this communication is directed only at such persons. Copyright©January 2014 Deutsche Bank AG. All rights reserved.

The Depositary Receipts have been registered pursuant to the US Securities Act of 1933 (the "Act"). The investment or investment service which is the subject of this notice is not available to retail clients as defined by the UK Financial Services Authority. This notice has been approved and/or communicated by Deutsche Bank AG London. The services described in this notice are provided by Deutsche Bank Trust Company Americas (Deutsche Bank) or by its subsidiaries and/or affiliates in accordance with appropriate local registration and regulation. Deutsche Bank is providing the attached notice strictly for information purposes and makes no claims or statement, nor does it warrant or in any way represent, as to the accuracy or completeness of the details contained herein or therein. This announcement appears as a matter of record only. Neither this announcement nor the information contained herein constitutes an offer or solicitation by Deutsche Bank or any other issuer or entity for the purchase or sale of any securities nor does it constitute a solicitation to any person in any jurisdiction where solicitation would be unlawful. No part of this notice may be copied or reproduced in any way without the prior written consent of Deutsche Bank. Past results are not an indication of future performance. Copyright © August 2010 Deutsche Bank AG. All rights reserved.