The annual general shareholders’ meeting of Sheremetyevo International Airport JSC (JSC SIA) was held on June 25, 2018. The shareholders approved the Company’s annual report for 2017, elected the new Board of Directors and developed decisions on a number of issues relevant to the agenda.

In 2017, Sheremetyevo achieved significant operational results maintaining the highest level of service for passengers and airlines.Passengers number increased by 17.8% to 40.093 million passengers. The total number of takeoff and landing operations grew by 12.9% and reached 308,090. Thus, Sheremetyevo strengthened its leading position among Moscow airports with a share of 45% of passenger traffic and 43.6% of takeoff and landing operations.

According to OAG Punctuality Report for 2018, Sheremetyevo ranked third in the world and the first in Europe in the category of Major airports (accommodated between 20-30 million annual outbound seats) with the result of 83.55%. In general, 97% of flights arrived or departed within their scheduled arrival/departure times. In 2017, Sheremetyevo was ranked first in Europe in the category of airports with a passenger flow of 25-40 million people per year in the ASQ (Airport Service Quality) ACI (Airports Council International) rating.

JSC SIA achieved significant growth in financial results in 2017, having generated RUB 28.504 billion (13.2% growth) in revenue and gross profit of RUB 15.642 billion (27.18% growth) in accordance with RAS.

The completion of the consolidation of JSC SIA assets was discussed at the meeting. The consolidation of JSC SIA assets was undertaken within the scope of execution of the RF Presidential Decree of August 28, 2015, envisioning the strategic development of the Moscow aviation hub and the large-scale modernization and renovation of Sheremetyevo International Airport. Since Sheremetyevo Airport was assigned by the Government of the Russia Federation to implement a number of development projects within the preparation for the 2018 FIFA World Cup, during the meeting it was reconfirmed that these facilities were delivered on time. The construction of the new facilities was carried out at the expense of JSC SIA’s own funds:

· A modern automated cargo terminal “Moscow Cargo” with a capacity of 380,000 tonnes of cargo per year was put into commercial operation in 2017.

· A new Terminal B with a capacity of 20 million passengers per year with multi-level parking for 2500 cars were commissioned.

· An underground interterminal passage that united the whole Sheremetyevo airport under one “roof” was commissioned.

· Large-scale works aimed at modernization of access roads and creating a united parking area of the airport were undertaken.

· The construction of the first stage of new Terminal C within the development program of the Northern Terminal Complex was launched.

The annual general shareholders’ meeting approved the financial statements for 2017 and the distribution of a net profit. The share of a net profit to be distributed amounted RUB 9,987,803,576, which includes:

— RUB 3,151,250,000 to be paid as dividends to the shareholders of JSC SIA (the sum includes interim dividends of RUB 1,018,917,925 that was paid for 9 months of 2017 from the profit of 2017 and RUB 2,132,332,075 as dividends for 2017 year);

— the rest of the profit is to remain on JSC SIA balance.

The Board of Directors was reelected with the previous composition::

· Aleksandr Ponomarenko, Chairman of the Board of Directors of JSC SIA (Sheremetyevo International Airport), Chairman of the Board of Directors of Sheremetyevo Holding LLC;

· Mikhail Vasilenko, CEO of Sheremetyevo International Airport JSC;

· Evgeny Ditrikh, Minister of Transport of the Russian Federation;

· Roman Zinovyev, President of Sheremetyevo Holding LLC;

· Ilya Petrov, Vice-president of MD Group LLC;

· Aleksandr Pleshakov, President of the Non-profit partnership of Financial Managers Guild, non-executive director;

· Alexey Smagin, First Vice-President — Investment Director of Sheremetyevo Holding LLC;

· Aleksandr Skorobogatko, Member of the Board of Directors of JSC SIA (Sheremetyevo International Airport);

· Dmitriy Pristanskov, Deputy Minister of Economic Development of the Russian Federation — Head of the Federal Agency for State Property Management;

The following members were elected to the Internal Audit and Revision Commission:

· Angelica Gurkova, Deputy Head of Division of the Federal Property Management Agency (Rosimuschestvo);

· Yuliya Levitina, Vice-President for Finance of Sheremetyevo Holding LLC;

· Galina Utkina, Director for Planning and Budget of Sheremetyevo Holding LLC.

After a competitive tender procedure, PricewaterhousCoopers Audit was selected as the auditor of the consolidated financial statements under IFRS for 2018 of JSC SIA.