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Results of the Annual General Shareholders' Meeting of Mostotrest

OJSC Mostotrest (hereinafter - Mostotrest or the Company) held its Annual General Shareholders’ Meeting in Moscow on 27 June 2014, chaired by Georgy Koryashkin, Chairman of the Company’s Board of Directors.

The General Shareholders’ Meeting approved the annual report for 2013, the annual financial statements and decision on dividend payment, elected the Board of Directors and Internal Audit Committee of the Company, and approved the auditors for both Russian Accounting Standards (RAS) and International Financial Reporting Standards (IFRS).

Approval of the Annual Report, Annual Financial Statements, and of the 2013 Dividend

The General Shareholders’ Meeting approved the annual report and annual financial statements of Mostotrest prepared in accordance with RAS. The Company’s revenues in 2013 according to RAS amounted to RUB 84.8 billion, a 23% increase year-on-year.

According to the dividend policy of Mostotrest, dividends are calculated based on IFRS financial statements of Mostotrest Group. In IFRS terms, the revenues of Mostotrest and its subsidiaries grew by 24% to RUB 116.7 billion, whereas net profit of the Group fell by 45% to RUB 2.3 billion. The General Shareholders’ Meeting decided to pay out RUB 2.0 billion in dividends according to the recommendation of the Board of Directors. The total 2013 dividend will amount to RUB 2 000 908 thousand or of RUB 7.09 per ordinary Company share. The dividend record date was set at 16 July 2014.

During 2013, Mostotrest Group completed 32 facilities, five more than in 2012. Major infrastructure projects included further construction of Adler-Alpika Combined Road (automobile and rail); construction of M-27 Dzhubga – Sochi Highway up to the Georgian border; Golubye Dali Traffic Interchange in Sochi; combined bridge over the Oka River in Nizhny Novgorod, as part of the project to extend Avtozavodskaya metro line from Moskovskaya Station to Gorkovskaya Station; reconstruction of M-4 Don Highway (Voronezh Bypass, Stage 1); reconstruction of Runway 1 and adjacent taxiways at Vnukovo Airport; reconstruction of traffic interchange at km 21 of Novoryazansky Avenue (М-5 “Ural”, from Moscow to Chelyabinsk via Ryazan, Penza, Samara and Ufa) and others. The Company won three major tenders for construction of Russia’s road and bridge infrastructure worth a total of RUB148.2 billion, including construction, maintenance, repair and toll-based operation of the sixth section of M-11 “Moscow-St Petersburg” Highway; reconstruction, maintenance and repair of an M-4 “Don” Highway section (Novaya Usman Bypass); and construction of a new bridge in Nizhny Novgorod.

Election of the Board of Directors

The General Shareholders’ Meeting elected a Board of 11 directors: Leonid Dobrovsky, Irina Egorova, Vadim Korsakov, Georgy Koryashkin, Irina Makanova, Yuri Novozhilov, Mikhail Noskov, Alexander Shevchuk, Oleg Toni, Vladimir Vlasov and Maria Zhurba.

Approval of the Auditors and the Internal Audit Committee of the Company

The General Shareholders’ Meeting appointed GROSS-AUDIT as the Company’s auditors for RAS financial statements.

The General Shareholders’ Meeting appointed ZAO KPMG as the Company’s auditors for IFRS financial statements.

In addition, the Meeting elected the Company’s Internal Audit Committee consisting of four members: Vladimir Monastyrev, Gayane Nazaryan, Anna Nesterenko and Dmitry Frolov.

Comments of the Chairman of the Board of Directors Georgy Koryashkin:

“We are pleased to note that, as in previous years, we continued to persistently increase our market share, which reached 9.9% in 2013, up from 9.4% in 2012.

2013 saw Russia enter the final and decisive phase of preparation for the XXII Winter Olympics in Sochi. Mostotrest has, in recent years, been involved in the construction of several major transport infrastructure projects in Sochi. The construction of the Kurortny Avenue Relief Road was one of the most challenging large-scale projects the Company has ever undertaken. We are proud that the road was opened for traffic in line with the target schedule.

Mostotrest won all major tenders in 2013. Additions to the backlog included: construction of the Volga Bridge in Nizhny Novgorod and the Voroshilovsky Bridge in Rostov-on-Don; additional construction work on the M-9 “Baltic“ Highway and a section of the Vladivostok-Nakhodka-Vostochny Port Highway, as well as construction of sections of the M-4 “Don“ Highway and M-11 “Moscow-St. Petersburg” Highway. As a result, our backlog has increased by 26% or more than RUB190 billion, ensuring the Company’s strong position for future operations.

The Company has strong competitive advantages which will enable Mostotrest to further strengthen its position across all market segments and successfully participate in tenders for priority government infrastructure projects.”

Mostotrest is a major, diversified infrastructure construction company, with established presence in all core and related market segments, and a participant in Russia’s first public-private partnership projects. According to EMBS Group, an independent industry consultancy, in 2013 Mostotrest held a 9.9% share of the total Russian infrastructure construction market.

Mostotrest’s core competences include construction and reconstruction of bridges, roads and other transport infrastructure facilities; provision of road maintenance, repair and operating services. In 2012, Mostotrest also entered a new segment: management of road concessions.

The company was established in 1930 as a developer of complex and oversized bridges.

Mostotrest is currently participating in implementation of a number of complex transport infrastructure development projects, such as construction of the head segment (km 15- km 58 ) and the Vyshny Volochok bypass segment of the M-11“Moscow-St Petersburg” Toll Highway, construction and reconstruction of the M-4 “Don” and M-9 “Baltia” Highways, reconstruction of Mozhaisky Avenue/Kutuzovsky Avenue between the Moscow Ring Road and the Garden Ring; construction of the Businovskaya interchange in Moscow, the Volga Bridge in Nizhny Novgorod and the Voroshilovsky Bridge in Rostov-on-Don.

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