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Andrei ElinsonManaging Partner – A1Andrei Elinson is Managing Partner of A1 and a member of the Supervisory Board of A1Investment Holding S.A. From December 2015 to March 2018, he held the office of Director of AssetManagement in Alfa Group Consortium. Prior to joining Alfa Group, Mr. Elinson was Deputy CEO ofBasic Element, where he worked from August 2007 being responsible for managing companies inaviation, construction, automotive, financial and other industries. From 1997 to 2007, Mr. Elinsonworked at Deloitte CIS and became a Partner in 2005. Mr. Elinson graduated with honours fromthe Russian State Finance Academy, Accounting & Auditing faculty. Mr. Elinson is a US CertifiedPublic Accountant and a US Certified Fraud Examiner. He holds a Certificate in Company Direction(UK). Mr. Elinson was born in Moscow, Russia in 1979. He has government awards. Married, hasa daughter.Marat AtnashevDirector of Group Portfolio Management – CTFBefore joining CTF Consultancy Ltd. (“CTF”) in November 2019, from 2016 to 2019, Mr. Atnashevwas Dean of the Moscow School of Management SKOLKOVO. From 2011 to 2015, he worked atEVRAZ plc. as Vice President, Major Projects, Head of the Iron Ore Division. From 2010 to 2011, Mr.Atnashev held a position of a Director of the Directorate of Major Projects at JSC Garzpromneft.From 2000 to 2010, he worked at TNK (from 2003 - TNK-BP) at various positions in supply chainmanagement, finance and major project management.Mr. Atnashev graduated with honors from the Energy Department of the State University ofManagement (SUM), Moscow, in 1999; in 2003, he became a PhD (Candidate) in Economics. MaratAtnashev also holds an MBA from INSEAD, France (2002). In 2008, he graduated from the BP MajorProjects and Engineering academy, MIT (USA) and in 2016 received an MPA from Harvard KennedySchool (USA).Mr. Atnashev is a member of the Board of Directors of Management Company “Rosvodokanal",a member of the Supervisory Board of A1 Investment Holding S.A., a member of the Board ofDirectors of Alfa-Bank (Russia), a member of the Board of Directors of AlfaStrakhovanie Group, amember of the Supervisory Board of X5 Retail Group and a member of the Board of Directors ofABH Holdings S.A.Mr. Atnashev was born in Moscow, Russia in 1977.Vadim ZingmanPresident of Alfa GroupMr. Zingman has been the President of Alfa Group since October 15, 2019. Mr. Zingman is amember of the Board of Directors of Management Company “Rosvodokanal” and a member ofthe Board of Directors of AlfaStrakhovanie Group. Before August 2019, he was Deputy GeneralDirector and a member of the Management Board of PJSC “Aeroflot”. In addition, Mr. Zingman wasChairman of the Board of Directors of “Avrora” and “Rossiya” airlines, and CJSC “Aeromar” andJSC “Sherotel”. Since 2017, he has been a member of the Board of Directors of JSC “GSS”. Since2018, Mr. Zingman has been a member of the central headquarters of the All-Russia People’sFront. Mr. Zingman was awarded with the Order of Friendship, Medal of the Order of Merit for theFatherland of the 2nd degree.Mr. Zingman graduated from the St. Petersburg University of Economics and Finance with honors.He is a Candidate of Economic Sciences. Born in Leningrad in 1970.7

Vladimir VerkhoshinskiyChief Executive Officer of Alfa-Bank (Russia)Mr. Verkhoshinskiy is Chief Executive Officer and a member of the Board of Directors of Alfa-Bank(Russia) and a member of the Board of Directors of AlfaStrakhovanie PLC.Prior to that Mr. Verkhoshinskiy held various positions at VTB Group. From 2009 to 2011, Mr.Verkhoshinskiy worked at VTB Bank as Vice President and Head of Corporate Development andStrategy Department. In January 2012, Mr. Verkhoshinskiy joined Bank of Moscow where he heldthe position of Deputy President and Chairman of the Management Board being responsible forretail and small business, mortgage lending and private banking. In May 2016, due to the mergerof VTB Bank and Bank of Moscow, Mr. Verkhoshinskiy transferred back to VTB Bank as Head ofRetail Business and member of VTB Bank Management Board.Mr. Verkhoshinskiy also worked at Citibank (Moscow), VR Capital investment fund and McKinsey&Co.Mr. Verkhoshinskiy graduated with honors from the Financial Academy under the Government ofthe Russian Federation and holds a Master of Business Administration and a Public ManagementProgram degrees from Stanford University (USA).Alexander TorbakhovCEO of VimpelComAlexander Torbakhov was appointed CEO of VimpelCom on 6 April 2020.Mr. Torbakhov has more than 25 years’ experience at senior management positions in majorcorporations, including most recently at X5 Retail Group and Sberbank.From 2019 to July 2020, he was a Member of the Supervisory Board and Chairman of theInnovation and Technology Committee of X5 Retail Group.Alexander Torbakhov joined Sberbank in September 2010 as Advisor to the President and in October2010 he became a member of the Executive board, Deputy Chairman of the Executive Board ofSberbank. From 2010 to 2018, Alexander was managing the Retail Business Unit of Sberbank andexpanded digital products and services to more than 80 million customers.Prior to Sberbank, Mr. Torbakhov held General Director positions in Vimpel Communications andRosgosstrakh-Life Insurance Company.Alexander started his career in 1995 as bank service management expert at the Moscow officeof the international audit company Deloitte & Touche. He held senior management positionsin investment company Rinako Plus, brokerage company NIKoil and in NIKoil Investment andBanking Group.Mr. Torbakhov holds an engineer degree from the Moscow Aviation Institute (MAI), an economistdegree from Moscow State Institute of International Relations and an MBA from the University ofChicago Booth School of Business, USA.8

ALFA GROUP’S INVESTMENTPHILOSOPHYWe rely on our investment philosophy to generate superior returns for our shareholdersover the long term, to promote sound corporate governance and business practices,and to benefit our partners, counterparties, employees, consumers and society at large. We are opportunistic investors.Simply stated, we are value-oriented investors. In evaluating any investmentopportunity, our investment philosophy is driven by the opportunity to purchaseassets that, due to perceived risk, low liquidity, disinterest or a lack of understandingon the part of market participants, are undervalued. We believe the most attractive opportunities are in world emerging markets.Much of our past success has been the result of our comprehensive knowledge andunderstanding of emerging markets, in particular, the Russian and CIS markets. Webelieve there are still substantial opportunities in the world’s emerging markets andthat we are well placed to take full advantage of them. We typically take a longer-term view in order to realize the full potentialof our investments.We do everything necessary to develop our investments, making them more attractiveto a potential buyer. While we do not particularly welcome the inflexibility of beingwed to an investment for the longer term, we lower our risks by seeking undervaluedinvestments that provide ample down side protection and, when possible, interimcash flows. We view co-operation with foreign investors and the attraction of foreign capitalas important to the development of our companies.Foreign investors provide not only capital investment, but also the expertise which isneeded to successfully develop and realize the full value of our investments. We knowfrom experience that the failure to attract longer-term foreign investment will resultin under-developed assets and missed business opportunities. Also, with regard toexit strategy, sale to foreign investors provides us with a logical and attractive meansof exiting our investments. First and foremost we are investors, not business managers.Companies of Consortium are independent entities and are given fairly wide latitudeto conduct their affairs. We continually measure the financial performance of ourinvestments.9

We are guided by the philosophy of investing in only those companies that are leaders intheir respective fields of business.We require those in which we invest to be one of the top three in their business fieldor with a clear potential to become one of the top three within a reasonable period.Where we see that our investments are not meeting this criterion, we take activemeasures to divest and free up our financial and management resources for moreeffective investments.10

ABH HOLDINGS S.A.ABH Holdings S.A. (“ABHH”) is a privately owned Luxembourg-based holding companyinvesting into several banking groups in the CIS and Europe.Operating companies of ABHH are: Alfa-Bank (Russia); Amsterdam Trade Bank N.V. (the Netherlands); Alfa-Bank (Ukraine); Alfa-Bank (Belarus); Alfa-Bank (Kazakhstan).ABHH-owned companies also carry on regulated financial activities in Cyprus andthe United Kingdom.Companies offer a wide range of banking and financial services and products,including interbank, corporate and retail lending, deposits, payment and accountservices, foreign exchange operations, cash handling services, custody services,investment banking and trade finance as well as other ancillary services to corporateand retail clients.ABHH's business model is focused on utilizing its financial and intellectual resources,and management and investment expertise to effectively manage value-driveninvestments in the global banking sector.As of December 2020, ABHH operating companies had almost 35 thousand employeesand served more than 28 mln corporate and retail clients, while its branch networkexpanded to 1,059 offices.For more detailed information please refer to www.abhh.luAlfa-Bank (Russia)Founded in 1990, Alfa-Bank (Russia) is the largest universal private bank in Russia. It has been aleader in every segment of the banking business for the past 30 years. The bank has about 850thousand corporate clients and over 18.7 mln individuals. Alfa-Bank (Russia) has a “phygital”development model, which combines digital innovations and an efficient physical presencenetwork, which includes 498 offices in Moscow and Russian regions, 900 cities with courierservice, and 27,900 own and partner ATMs.The year 2020 was not easy, yet Alfa-Bank (Russia) managed to further strengthen its marketposition. Its net profit reached USD 1,347 million according to IFRS financial statements. Theoverall assets of the Alfa Bank Banking Group, including ABH Financial, AO “Alfa-Bank”, andfinancial subsidiaries, stood at USD 61.9 billion, and equity totaled USD 8.7 billion.11The retail customer base grew by a record 2.5 million to 18.7 million individuals. The clienteleof small and micro-businesses enlarged by 280 thousand legal entities and individualentrepreneurs and now is comprised of 570 thousand companies. 2020 was a pivotal year forthe development of the bank’s brokerage services for individuals. The number of clients usingAlfa-Direct App grew by 3.5 times, up to 450 thousand clients, which secured its position amongthe Top 5 brokers.

The credit portfolio of Alfa-Bank (Russia) grew by substantial 22% to USD 42.7 billion, includingUSD 11.7 billion in the retail lending sector, and USD 31 billion in the corporate segment. At thesame time, the bank retained high quality of its loan portfolio. In addition, the bank maintained ahigh pace of mortgage landing and by the end of 2020 entered the Top 3 in terms of mortgageportfolio growth.In 2020, Alfa-Bank (Russia) achieved a breakthrough in the implementation of strategic initiatives.A network of phygital branches was launched in Moscow and expanded into the regions. Themobile application received a complete overhaul and topped the Markswebb analytical agency’srating by a wide margin at the year-end. The development of Alfa-Bank’s (Russia) productsaccelerated, and the use of advanced analytics and artificial intelligence started broadening.The leading international and national rating agencies assigned to Alfa-Bank (Russia) oneof the highest ratings among Russian private banks. Thus, Alfa-Bank (Russia) is the onlyRussian private bank with a long-term credit rating (IDRs) “BBB-”, outlook Stable, assignedby Fitch international rating agency. S&P Global Ratings has confirmed Alfa-Bank's (Russia)long-term and short-term credit ratings as “BB /B”, outlook Stable. Moody's has upgradedAlfa-Bank’s (Russia) long-term foreign-currency deposit rating to “Ba1” from “Ba2”, outlookStable. Expert RA rating agency has upgraded Alfa-Bank’s (Russia) national scale rating from“ruAA” to “ruAA ”, outlook Stable. The national rating agency ACRA has confirmed thebank’s rating “AA (RU)”, with a “Stable” outlook.Being one of the best-known brands on the Russian banking market, Alfa-Bank (Russia) onceagain confirmed its leading position in the Russian banking sector by winning numerousawards. Global Finance international magazine named Alfa-Bank “The Best Bank in Russia”.A-Club was the best in three nominations of Euromoney’s Private Banking Survey. VladimirVerkhoshinskiy, Alfa-Bank’s (Russia) CEO, was named Russia’s best chief executive officer byRussian Association of Managers and Kommersant Publishing House in the Top 1000 RussianManagers award. The full list of achievements is available at https://alfabank.ru/about/awards/.Alfa-Bank (Russia) is a socially responsible institution. The focus of its charity work is helpingsick children, supporting talented youth, and caring for animals and nature. Developingthese areas, Alfa-Bank (Russia) has been supporting Life Line Charity Foundation, fundingits corporate scholarship program for talented Russian students, Alfa Chance, and providesfinancial support to ecological initiatives. Since the day it was founded in 1990, the bank hasbeen known for supporting large-scale cultural events and contributing to the development ofRussian regions.For more detailed information please refer to www.alfabank.ru.Amsterdam Trade Bank N.V.Amsterdam Trade Bank N.V. (‘ATB’) was established in the Netherlands in 1994 and is locatedin Amsterdam, the Netherlands, historically one of the world’s most important financial,commodity, maritime and technology hubs.Since 2003, ATB has been providing retail services in the Netherlands, offering savings anddeposit products. In 2006, ATB expanded its internet retail operations to Germany, followed byAustria in 2011 and the UK in 2019.12In 2020, ATB decided to revise its strategy by focusing on delivering digital banking servicesto small and medium-sized enterprises (SME’s) in Europe. ATB will invest in offering a digital

banking platform that will enable the bank to provide a range of financial products to EuropeanSMEs. Over time, ATB’s exposures to trade, commodity and shipping finance will be reducedas it focuses more on financing European SMEs.As of December 31, 2020, ATB serviced over 47 thousand individual and corporate accountsand employed 120 people.Good citizenship and responsible entrepreneurship are embedded at the very core of ATB’sstrategy.Alfa-Bank (Russia) obtained 100% of shares in ATB in March 2001. As of 31 December 2020,the shareholding of Alfa-Bank (Russia) in ATB was 75.47%.ATB is subject to Dutch and European banking regulations and is supervised by The DutchCentral Bank (De Nederlandsche Bank, DNB) and the Dutch Authority for Financial Markets(Autoriteit Financiële Markten, AFM).For more detailed information please refer to www.amsterdamtradebank.comAlfa-Bank (Ukraine)Alfa-Bank (Ukraine) is one of the largest commercial banks of Ukraine. The bankholds leading positions in all key segments of the banking market. It is a systemicallyimportant bank, which is ranked among top 10 financial institutions of the country interms of assets according to the National Bank of Ukraine.The bank was founded in 1992. Since 2001, the bank has been operating underthe Alfa-Bank brand. Since 2004, it has become part of ABHH. Being one of theleaders in terms of new technologies introduction, Alfa-Bank (Ukraine) providesmodern banking solutions for its clients in all segments: from individuals to majorinternational corporations.In 2020, Alfa-Bank (Ukraine) updated its development strategy - it headed for digitalmodernization and new personalized customer experience. The key transformationproject was the launch of a new digital bank Sense SuperApp. The bank was thefirst in Ukraine to launch a full-fledged identification in Sense SuperApp. It allows tobecome the client of the bank and to open the card account through the video chat.Other innovations of the new application include:with maximum personalization, design management of personal and business accounts of individual entrepreneurs inone application,payment and money transfer technology drag'n'drop, convenient own Sense Now media inside the digital bank.13Alfa-Bank (Ukraine) continues to actively develop e-commerce. In 2020, the banklaunched an online acquiring with support of Apple Pay technology and modernpayment transaction protection technology 3D Secure 2.0, which uses biometricidentification to confirm online payments, connected to Xiaomi's MiPay paymentservice.

Other innovations include the update of chat support platform for individualcustomers and introduction of the knowledge base for customers in the format ofquestion-answers about products and services based on Zendesk solution.Also in December 2020, Alfa-Bank (Ukraine) presented an AHUB project - a networkof multifunctional spaces for bank customers. The first space was opened in thehistorical center of Lviv. The space has coworking built in a constructor manner, aspacious conference room for events and meeting rooms. AHUB also opens accessfor bank customers for educational events offline and online.As of December 31, 2020, 210 branches operated in the regions of Ukraine. Alfa-Bank(Ukraine) had a client base of more than 1.5 million retail clients, over 40 thousandsmall and medium-sized business clients, more than 2.2 thousand corporate clientgroups and the total number of the bank employees amounted to almost 6.5 thousandpersons.In February 2021, international rating agency Fitch Ratings has affirmed long-termforeign and local-currency rating of Alfa-Bank (Ukraine) at “B-“; outlook Stable.National scale long-term rating of the Bank has been affirmed at “BBB (ukr)”;outlook Stable. Moreover, authorized RA Expert-Rating has affirmed national scalelong-term credit rating of Alfa-Bank

3 Alfa Group's Principal Businesses 4 Supervisory Board of Alfa Group 9 Alfa Group's Investment Philosophy . 19 AlaStrf akhovanie Group 22 LLC "Insurance company "Mango" 24 Alfa Asset Management (Europe) S.A. 25 A1 26 X5 Retail Group 30 Rosvodokanal Group 31 IDS Borjomi International 33 Serving our Communities 38 Contact Information .