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8/6/2019 Presentation 26may
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IMPORTANT INFORMATIONTh co
s of
his docum
hav b pr par d by Op Joi
S
ock Compa y Alfa Ba k ("Alfa Ba k") as I v s
m
R s arch wi
hi
h m a i g of Ar
icl 24 of Commissio Dir c
iv 2006/73/E C impl m
i g
h Mark
si Fi a cial I s
rum
s Dir c
iv 2004/39/E C ("MiFID") Alfa Capi
al Mark
s ("ACM") is dis
ribu
i g
his docum
o i
s cli
s i
h EE A a d acc p
s o r spo sibili
y
owards a y o
h r class s of r cipi
Alfa Ba k a d ACMhav i plac appropria
co flic
s of i
r s
polici s a d proc dur s aim d a
suri g
h obj c
ivi
y of
h i forma
io co
ai d i
his docum
Th i forma
io co
ai d i
his docum
is provid d for i forma
io
purpos s o ly a d is o
a mark
i g commu ica
io i v s
m
advic or p rso al r comm da
io wi
hi
h m a i g of MiFID Th i forma
io mus
o
b us d or co sid r d as a off r or solici
a
io of a off r
o s ll or
obuy or subscrib for a y s curi
i s or fi a cial i s
rum
s I
h UK
his docum
do s o
co s
i
u
a Fi a cial Promo
io wi
hi
h m a i g of s c
io 21 of
h Fi a cial S rvic s a d Mark
s Ac
2000 (as am d d)
ACM is r
gula
d by
h
Fi
a
cial S
rvic
s Au
hori
y (FSA) wi
h FSA r
gis
ra
io
umb
r 416251, for
h
co
duc
of UK i
v
s
m
busi
ss a
d is
h
radi
g
am
of
h
UK bra
ch of Alfa Capi
al Holdi
gs (Cyprus) Limi
d(ACC) , which is au
horiz d by
h Cyprus S curi
i s a d Ex cha g Commissio u d r lic s umb r CIF 025/04. This docum
is o
for dis
ribu
io
o r
ail cli
s as d fi d by MiFID a d may o
b commu ica
d
osuch p rso s . This docum
is o
for dis
ribu
io or us by a y p rso or
i
y i a y jurisdic
io wh r such dis
ribu
io or us would b co
rary
o local law or r gula
io or which would subj c
Alfa Ba k, ACC , ACM or a yo
h r group
i
y
o au
horiza
io , lic si g or o
h r r gis
ra
io r quir m
s u d r applicabl laws . Th i forma
io co
ai d i
his docum
is
h xclusiv prop r
y of Alfa Ba k. U au
horiz d duplica
io , r plica
io or diss mi a
io of
his docum
, i whol or i par
, wi
hou
h xpr ss wri
co s
of Alfa Ba k is s
ric
ly prohibi
d. Al
hough
h i forma
io i
his docum
has b ob
ai d from , a d is bas d o , sourc s Alfa Ba kb li v s
o b r liabl , n o r pr s nt a tion or warra nt y, ex pr e ss or impli e d , is mad e by Alfa Ba nk, ACM or the au thors . ACM and its office rs a nd e mployee s do no t acc e p t a n y r e spo nsibility as to the accura tene ss or compl etene ssof a n y in forma tion he r e in or as to wh et he r a n y ma te rial fac ts hav e been omitte d . All in forma tion s ta te d h e r e in is subj e ct to cha nge withou t n otice. ACM mak e s n o warra nt y or r e pr e sent a tion t ha t an y s e curi tie s r e f e rr e d to h e r e inar e sui table for all r e cipient s a nd a n y r e cipient s co nsid e ring i nve s tment de cisions should s ee k appropria te inde pen dent advic e. N othing i n t his docum ent cons titute s ta x, le gal or accou nt in g advic e. Alfa Bank, ACC a nd the ir associa te d compa n ie s , office rs , dir e ctors or e mployee s ( ex cluding a n y fina ncial a n alys ts or o the r p e rso nne l involve d i n the produc tion of r e se arch) , from time t o time, may d e al in, hold or ac t as mark et mak e rs or advisors ,broke rs or comm e rcial a nd/or inve s tment ba n ke rs i n r e la tion to the s e curitie s , fina ncial ins trument s a nd compa n ie s m ent ione d in this e mail, or may hav e been, or may b e r e pr e sente d o n t he board of such compa n ie s . If suchcircums ta nce s aris e, ACM, Alfa Bank, ACC a nd the ir associa te d compa n ie s hav e in plac e appropria te co nflicts of inte r e s t policie s a nd proc e dur e s to en sur e t ha t in ve s tment r e se arch r e mai ns i nde pen dent a nd obj e c tive. Asummary of ACC's co nflicts of inte r e s ts policy (which also cov e rs ACM) , cont ain ing d et ails r e le vant t o inve s tment r e s e arch , is availabl e upo n r e qu e s t from ACC or ACM . ACC a nd ACM hav e arra n ge d for Alfa Ba nk a nd o the r r e le vant group ent itie s i nvolve d in t he produc tion of r e se arch to imple ment e quivalent policie s . Alfa Bank is incorporated , focused and based in the Russian Federation and is not affiliated with US -based Alfa Insurance.