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Annual Report 2018 Contents

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Annual Report 2018 Contents ANNUAL REPORT 2018 CONTENTS NCSP group assets ..........................................................................................2 Geography of cargo turnover .........................................................................4 Business model ................................................................................................6 1. STRATEGIC REPORT ............................................ 10 1.1. Chairman Statement ..............................................................................12 1.2. CEO Statement ........................................................................................13 1.3. Market Review .........................................................................................15 1.4. Strategy and Outlook ..............................................................................23 1.5. Operating Results ...................................................................................27 1.6. Revenue ....................................................................................................29 2. CORPORATE SOCIAL RESPONSIBILITY ............ 32 2.1. Our Approach ...........................................................................................34 2.2. Human Resources Policy ......................................................................34 2.3. Occupational Health and Safety ..........................................................36 2.4. Environmental Protection ......................................................................37 2.5. Sponsorships and Philantropy .............................................................39 3. CORPORATE GOVERNANCE ................................. 40 Statement of Board of Directors..................................................................42 3.1. Corporate Governance Practices .........................................................43 3.2. NCSP Group Structure ...........................................................................45 3.3. Structure of PJSC NCSP management and control bodies ...........46 3.4. General Shareholder Meeting ...............................................................47 3.5. Board of Directors ...................................................................................49 3.6. NCSP Group Management ...................................................................55 3.7. Control and audit ....................................................................................59 3.8. Disclosure of information ......................................................................63 3.9. Shareholder equity and securities .......................................................64 4. CONSOLIDATED FINANCIAL STATEMENTS .......... 68 4.1. Consolidated Statement of Comprehensive Income ......................78 4.2. Consolidated Statement of Financial Position ..................................80 4.3. Consolidated Statement of Changes in Equity .................................82 4.4. Consolidated Statement of Cash Flow ...............................................83 4.5. Explanatory Notes ..................................................................................85 About the NCSP Group Disclaimer The Consolidated financial statements of PJSC NCSP for 2018, prepared according to International Financial Reporting Standards NCSP Group is a well-established stevedore company with the market In this Annual Report, the terms PJSC NCSP are understood as Public fairly discloses the value of assets, liabilities, financial position 5. APPENDICES ..................................................... 136 share in Russia about 17%. The Group comprises Novorossiysk port Joint Stock Company NCSP. The terms NCSP, NCSP Group, the and financial results of NCSP Group. NCSP Group Assets .................................................................................... 138 (Black Sea), Primorsk port (Baltic Sea) and Baltiysk port (Baltic Sea). Group are understood as PJSC NCSP and its subsidiaries, defined in History ........................................................................................................... 140 The Group’s ports are integrated in the international logistic corridors, accordance with International Financial Reporting Standards (IFRS). Key Events of 2018...................................................................................... 141 connecting Russia with the Mediterranean states, Middle East, North Africa, South-East Asia and South America, which makes them the key We approve that this report contains the trustworthy development Statement of Responsibility ...................................................................... 143 First Deputy of the transit channel of Russian import and export cargo. NCSP’s shares analysis, operating results, market share of PJSC NCSP and its Glossary ........................................................................................................ 144 CEO Chief Accountant are traded at Moscow Stock Exchange, whereas GDR are traded on subsidiaries (NCSP Group), as well as the description of the major risks Forward-Looking Statements ................................................................... 145 and uncertainties, which the NCSP Group is subject to. Kireev S. Nizhnik Y. London Stock Exchange. Contact Information .................................................................................... 146 2 PJSC NCSP Annual Report 2018 3 NCSP Group assets NCSP Group transshipment volume in 2018 Port of 140.2 mn t Imports Primorsk 4.5% Transit BLACK SEA Share of Russian market 7.9% 17.2% Port of Baltiysk PORT OF NOVOROSSIYSK Legend Cabotage 13.9 m / 65,500 t Sheskharis 11 m / 61,400 t 13.0 m / 64,000 t Depth/Vessel deadweight 24.0 m / 242,000 t Exports 11.2% NLE Cargo Area NSRZ NGT Name of asset 13.5 m / 80,000 t Ferrous and nonferrous General cargo, ferrous and Grain 76.4% metals, perishables, Specialization Port of NCSP nonferrous metals, big bags, Novorossiysk big bags, ro-ro, Elevator capacity: oversized cargo specialized containers, perisha- Facilities 162,700 m³ All types of cargo bles and ro-ro Train receiving: Storage facilities: Storage facilities: 3 × 800 t/hr 229,700 m² open Ship repair: 141,900 m² open Truck receiving: 14,528 m² covered Four-deck Floating Dock No. 190 51,6000 m² covered 2 × 200 t/hr Group cargo turnover 11,200 TEU containers Up to 45,000 t 6,700 m² refrigerated 1 × 400 t/hr GROUP CARGO TURNOVER IN 2018, % PORT OF PRIMORSK PORT OF BALTIYSK Train receiving: Storage facilities: 5,300 TEU containers Ship loaders: 223 freight cars 4,500 m² open Train receiving: 2 × 800 t/hr Cranes: 4,500 m² covered 697 freight cars 2, cap. 104 t Train receiving: Cranes: 3, cap. 42 t 64 freight cars PJSC NCSP 46 1, cap. 208 t or more 17.8 m / 150,000 t 9 m / 20,000 t 3, cap. 41 t Cranes: LLC PTP 8 15, cap. 100-125 t 11, cap. 12.5 t 1, cap. 50 t JSC NSRZ 5 29, cap. 40-85 t PTP BSC 4, cap. 6 t 13, cap. 30-45 t LLC IPP 3 20, cap. 10-32 t 1, cap. 5 t 2, cap. 20 t 140.2 JSC NLE 3 Crude oil, oil products Containers Manipulators: mn t Forklifts: Forklifts: LLC NMT 2 11 19, cap. 10-25 t 19, cap. 16-37 t JSC NSRZ 2 Storage capacity: Storage facilities: Forklifts: 53, cap. up to 10 t 18, cap. 1.5-3 t 20,000 m3 11.7 ha 35, cap. 25-50 t LLC BSC 1 Container handlers: 4, cap. 7-10 t NCSP Fleet 1,700 m² covered 55, cap. 10-25 t 1, cap. 10-25 t Tractors: 10,000 TEU containers 125, cap. up to 10 t Port fleet services Semi-trailers: 12, cap. 32 t Cranes: Container handlers: 32, cap. up to 36 t Roll trailers: 5, cap. 75-100 t or more 16, cap. 25-50 t 16 tugboats, 208-5712 hp Roll trailers: 45, cap. up to 80 t GROUP REVENUE IN 2018, ‘000 USD 6, cap. 25-50 t Clamshell loaders: 1 Mars fire boat 7, cap. 50-75 t Container handlers: 8, cap. 15-20 t 4 fuel vessels, SFP cap. 250-2,800 t 2, cap. 25-50 t Bucket loaders: 12.8 m / 70,000 t 12 auxiliary fleet vessels Port fleet services 3, cap. 10-25 t 23 Tractors: Tractors: IPP 12, cap. 25-50 t 53, cap. 25-50 t Stevedoring services 20 7 Azimuth tugboats, Roll trailers: Roll trailers: Liquid cargo Additional port 100 3,500-5,500 hp Arc4/Arc5 ice-class 16, cap. 25-50 t 93, cap. 25-75 t 951.3 services mn USD Storage capacity: Fleet services 122 143,000 m³ Ship repair 022 Train receiving: ter 80 4 receiving racks for 74 tank cars 4 PJSC NCSP Annual Report 2018 5 Geography of cargo turnover (export only) NCSP Group is the third largest port operator in Europe and the leader on the Russian stevedoring services market by cargo turnover. The Group’s ports are integrated into international transport corridors that link Russia to countries in the Mediterranean, Middle East, North Africa, Southeast Asia, Erope and North and South America, making them North a key gateway for transit of Russian import Ameria and export cargo. NCSP Group handled about 84.7 17% of all cargo traffic at Russian seaports 4.3 in 2018, as its cargo turnover reached 140.2 million tonnes. Asia 26.0 Crude oil Oil products Grain South AN Containers Ameria Aria Forest products Ore, iron ore products 2.2 Chemical cargo 17.9 Nonferrous metals Ferrous metals, pig iron Coal Other 6 PJSC NCSP Annual Report 2018 7 Business model Techniques for profitability improvement Construction of new terminals, as well Raising the labor Optimization Implementation Business- Being a port terminals operator, the NCSP Group provides its clients as well as provides ship repair services, additional port services and as modernization and reconstruction productivity of supply chains of new handling process with the wide
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