Press release

1 February 2016

VTB Bank's Supervisory Council has approved a new version of the Regulation on JSC VTB Bank Dividend Policy.

The new version of the Regulation on JSC VTB Bank Dividend Policy is amended according to the applicable law of the Russian Federation (the Civil Code of the Russian Federation, the Federal Law 'On Joint-Stock Companies' and other regulations of the Russian Federation, the Corporate Governance Code and the Charter of JSC VTB Bank).

In accordance with the new version of the Regulation on JSC VTB Bank Dividend Policy, the recommended dividend payments are determined by the Supervisory Council based on consolidated financial performance of the Bank under international financial reporting standards and amount to at least 25% of the Bank's consolidated net profit according to international financial reporting standards.

The Regulation on JSC VTB Bank Dividend Policy establishes basic principles of the Bank's dividend policy, the decision-making procedure for dividend payment (announcement), principles of dividend calculation and payout. One of its aims is to provide information on the Bank's dividend policy to shareholders and other stakeholders.

The new Regulation on JSC VTB Bank Dividend Policy is available on the Bank's website at http://www.vtb.ru/group/documents/#regulation in the Investors Relations section.