1. General

1.1 Fees set out the cost of services offered by NDC.

1.2 All fees are expressed in Russian Roubles.

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2. Monthly safekeeping fees

2.1 Payment for safekeeping services includes payment for all services provided by NDC according to agreements signed, unless fee schedule does not specifically provide fee for the relevant NDC service.

2.2 Securities whose maturity has expired are not included in calculating volume of securities on safekeeping.

2.3 For pricing purposes, instruments are divided into five groups:

• state, municipal and corporate bonds (except for bonds held at ICSDs);  
• equities (except for shares held at sub-accounts of the 'long-term safekeeping sub-account' type and shares held in CSDs of CIS countries) and shares of unit investment funds;
• equities held at sub-accounts of the ‘long-term safekeeping sub-account’ type ;
• instruments held with ICSDs ¹;
• instruments held with central securities depositories of CIS countries.

• American depositary receipts (ADR), Global depositary receipts (GDR)

2.4  Monthly safekeeping fee is calculated as a sum of fees calculated according to the monthly safekeeping rates specified in the Fee Schedule for instruments of certain group. According to NDC marketing policy safekeeping rates are not charged for shares of unit investment funds and Russian depositary receipts, except for refund of NDC actual expenses, related to processing participant’s instructions.

2.5 The value of securities is calculated as a sum of the average daily value of all issues of certain group, held on the participant’s securities account in the settlement month, on the calendar days of the month The value of securities of each issue for each calendar day is calculated as a product of the end-of-the-day securities and securities market value. For holidays the securities balances and market values are set at the amounts on the previous business day. The market value is set according to the Appendix 2 to the NDC Procedures.

2.6 Monthly safekeeping rates for state, municipal and corporate bonds:

2.7 Monthly safekeeping rates for equities (except for shares held on sub-accounts of 'long-term safekeeping sub-account' type and shares held in CSDs of CIS countries):

2.7.1 Monthly safekeeping fee for equities without market value² is set at 100 RUR for one equities issue on the securities account, but cannot exceed 3,000 RUR.

2.7.2 Monthly safekeeping fee for equities held on the sub-accounts of type 'Blocked for clearing on MICEX. Offer of the large share holding', 'Blocked for OTC offering of the large share holding' (SPO sub-account hereafter) is set at 1,000 RUR for each SPO sub-account of the securities account.

2.7.3 Monthly safekeeping fees for Gazprom shares, except for Gazprom shares held on SPO sub-account:

Account deposit (RUR)		All account types
From	To
0	100,000,000	0.00212%
100,000,000.01	500,000,000	RUR 2,120 + 0.00185% of amount exceeding RUR 100 mln
500,000,000.01	1,000,000,000	RUR 9,520 + 0.00176% of amount exceeding RUR 500 mln
1,000,000,000.01	5,000,000,000	RUR 18,320 + 0.00166% of amount exceeding RUR 1 bln
> 5,000,000,000		RUR 84,720 + 0.00164% of amount exceeding RUR 5 bln

2.7.4 Monthly safekeeping fees for equities except for those mentioned in the paragraphs 2.7.1-2.7.3 of the Fee Schedule:

2.8 Monthly safekeeping rates for instruments held with ICSDs (except for instruments mentioned in the paragraph 2.12 of the Fee Schedule):

2.9 Monthly safekeeping rates for instruments held with central securities depositories of CIS countries:

2.10 In case the administrative block is put on the depo account for the period of the whole month under payment, the securities safekeeping fee is RUR 30 a month.

2.11 Securities safekeeping fee for shares held on sub-accounts of type ‘the long-term safekeeping sub-account’ is included in the minimum monthly fee for NDC services with exception of

• shares held with central securities depositories of CIS countries for which the amount of reward to NDC equals the amount of NDC’s actual expenses paid for safekeeping services and securities settlement at correspondent depository;

• Gazprom shares for which monthly safekeeping fee is 0.00125% of the deposit value on the sub-account of the 'long-term safekeeping sub-account' type of the securities account.

2.12 The monthly securities safekeeping fee for ADR, GDR:

Account deposit (RUR)		All account types
From	To
0	2,520,000,000	0.00270%
2,520,000,000.01	6,120,000,000	RUR 68,040 + 0.00244% of amount exceeding RUR 2,520 mln
6,120,000,000.01	10,800,000,000	RUR 155,880 + 0.00205% of amount exceeding RUR 6,120 mln
10,800,000,000.01	21,600,000,000	RUR 251,820 + 0.00190% of amount exceeding RUR 10.8 bln
> 21,600,000,000		RUR 457,020 + 0.00179% of amount exceeding RUR 21.6 bln

[1] Under instruments serviced in ICSDs there are meant securities serviced by Euroclear and Clearstream.

[2] Shares are considered without market value if the market value, calculated according to the paragraph 2.5 of this Fee Schedule was zero during the whole month or part of the month.

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3. Settlement fees and fees for documents processing

¹	Operation		Price (RUR)	Notes
3.1	Settlement
3.1.1	Securities transactions (per instruction)		75	Within accounts at NDC. Does not apply in the following cases: the transfer takes place from the ‘long-term safekeeping sub-account’ withdrawal and deposit of securities to and from sub-account operated by the Bank of Russia; the transfer is done in correspondence with SPO sub-accounts; the transfer takes place from the ‘Securities for client distribution’ sub-account type within one depo account.
3.1.2	Securities transactions with control of financial settlement in RUR (per instruction)		160	Does not apply if: the transfer takes place from the ‘long-term safekeeping sub-account’; the transfer is done in correspondence with SPO sub-accounts.
3.1.3	Securities transactions with control of financial settlement in foreign currency (per instruction)		600	Does not apply if: the transfer takes place from the ‘long-term safekeeping sub-account’; the transfer is done in correspondence with SPO sub-accounts.
3.2	Securities withdrawal
3.2.1	Securities nominated in RUR, shares of unit investment funds, instruments held with depositories of CIS countries (for each position in the instruction)		550	In addition to the fee the sum equal to actual costs incurred by NDC in course of fulfillment of its obligations to the client in accordance with respective Agreements (reimbursement of costs incurred by NDC). Does not apply in the following cases: shares withdrawal from safekeeping from long-term safekeeping sub-account of the depo accountl; shares withdrawal from safekeeping from SPO sub-account excluding actual costs incurred by NDC; shares withdrawal from safekeeping via nterdepository interaction, i.e. NDC-DCC Bridge
3.2.2	Instruments held with ICSDs, ADR, GDR	Per instruction	450
3.2.3		Cancellation of instruction	250
3.2.4	OGVZ (for each position in the instruction)		300
3.2.5	Securities withdrawal (settlement place ING  Bank (Eurasia) ZAO)		2,400
3.2.6	Shares withdrawal from safekeeping via NDC-DCC “Bridge”		400	The costs actually incurred by NDC are not reimbursed by Client. The Fee is not applied when: Shares withdrawal from safekeeping from long-term safekeeping sub-account of the depo account Shares withdrawal from safekeeping from SPO sub-account
3.3	Securities deposit
3.3.1	Equities/unit investment funds deposit after re-registration of equities at the registrar/unit investment funds at the register of unit investment funds holders		90	Fee is applicable for instructions dated over 25 calendar day after re-registration.
3.3.2	Re-registration of equities/unit investment funds by NDC		175	NDC’s actual expenses are charged overhead.
3.3.3	Instruments held with ICSDs, ADR, GDR	Per instruction	450
3.3.4		Cancellation of instruction	250
3.3.5	OGVZ (for each position in the instruction)		300
3.3.6	Securities deposit  (settlement place ING Bank (Eurasia) ZAO)		1,900
3.3.7	Admission of shares to safekeeping via NDC-DCC “Bridge”		250	The costs actually incurred by NDC are not reimbursed by Client. The Fee is not applied when: Admission of shares to safekeeping with enrollment to SPO sub-account
3.4	Registration of collateral (for each position in the instruction)		950	Exept for deposit of securities to sub-account operated by the Bank of Russia. Does not apply if the transfer takes place from the ‘long-term safekeeping sub-account’.
3.5	Execution of order to withdraw the block on operations at depot account (at administrative block)		Defined by calculation as the cost of securities safekeeping services for the period of administrative block according to the Fees valid at the corresponding period for depo accounts on which the administrative block has not been put.	Charged in case the period of administrative block of a depo account has been one continuous calendar month or more that one calendar month.
3.6	Additional fees for processing instructions in paper form
3.6.1	Processing of instructions in paper form and requests		310	Not applicable for deposit operations.
3.6.2	Reporting on requests (in paper form)		310	For each report except for: standard monthly report; IS403 report.
3.7	Shares transfer/ withdrawal from safekeeping at the long-term safekeeping sub-account the depo account		0.00173% of the cost of transferred shares (except shares held with central depositories of CIS countries),but not less than RUR 75 and not more than RUR 2,100. 0.0007% of the cost of transferred shares (for shares held with central depositories of CIS countries), but not less than RUR 75 and not more than RUR 2,100.	The cost of transferred shares is defined on the date of an operation execution at market price stated in accordance with Appendix 2 to the Procedure of co-operation between NDC and customers for Conditions of depository activity. For securities withdrawal  if settlement place is ING Bank (Eurasia) ZAO, paragraph 3.2.5 of the Fee Schedule is applied.

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4. Additional services

¹	Operation		Price (RUR)	Notes
4.1	Information services
4.1.1	Information operations upon dealers or investors requests (per report)		50
4.1.2	Subscriber fee (for providing the bulletin «Transactions on the Non-Government Bond Market») collected monthly		1750	Collected monthly
4.2	Workstation charges and communication fees
4.2.1	Installation of software by NDC's specialist		6,200	Per one user.
4.2.2	Communication via SWIFT Statement of Holdings Executed Transactions Report Statement of Pending Transactions	Per each SWIFT message	100	Except ÌÒ 548, ÌÒ 537.
		Per each additional SWIFT message	16

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5. Minimum fees

5.1. A monthly minimum fee of RUR 1,700 is charged per customer. If the fees payable for a month are less than RUR 1700, an additional charge is booked so that the minimum amount is met.

If the fees payable for a month, according to section 2,3,4 of Fees, are less than RUR 1700, an additional charge is booked so that the minimum amount is met. In this case the fee, according to section 3,4 (except reimbursement of costs and p.4.1.2. ), in added to minimum fee for NDC services and is not charged.

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