2025 Annual Report
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Tax on income from securities

Tax rates, %
Shareholders Dividend income Income from securities transactions Interest income on securities
Individuals
Residents 13/15In 2025, resident income above RUB 2.4 million per taxable period was subject to Personal Income Tax at 15%. 13/15In 2025, resident income above RUB 2.4 million per taxable period was subject to Personal Income Tax at 15%.
Or 0%, if by the selling date shares have been held for more than five years and the requirements for the share of real estate in the Company’s assets or the number of shares sold as outlined in Item 2, Article 284.2 of the Russian Tax Code have been met. The terms and conditions of applying the 0% rate to international holding companies are set forth in Article 284.7 of the Russian Tax Code. The Personal Income Tax exemption applies only to the portion of the relevant income exceeding RUB 50 million per calendar year. Pursuant to Sub‑Item 1, Item 1, Article 219.1 of the Russian Tax Code, individuals who are Russian tax residents are eligible for investment tax deductions in the amount of the profits from sales of Company shares held by the taxpayer for over three years.
13/15In 2025, resident income above RUB 2.4 million per taxable period was subject to Personal Income Tax at 15%.
Non‑residents 15 30Or 0%, if by the selling date shares have been held for more than five years and the requirements for the share of real estate in the Company’s assets or the number of shares sold as outlined in Item 2, Article 284.2 of the Russian Tax Code have been met. The terms and conditions of applying the 0% rate to international holding companies are set forth in Article 284.7 of the Russian Tax Code. The Personal Income Tax exemption applies only to the portion of the relevant income exceeding RUB 50 million per calendar year. Pursuant to Sub‑Item 1, Item 1, Article 219.1 of the Russian Tax Code, individuals who are Russian tax residents are eligible for investment tax deductions in the amount of the profits from sales of Company shares held by the taxpayer for over three years. 30
Legal entities
Residents 13 25Or 0%, if by the selling date shares have been held for more than five years and the requirements for the share of real estate in the Company’s assets or the number of shares sold as outlined in Item 2, Article 284.2 of the Russian Tax Code have been met. The terms and conditions of applying the 0% rate to international holding companies are set forth in Article 284.7 of the Russian Tax Code. The Personal Income Tax exemption applies only to the portion of the relevant income exceeding RUB 50 million per calendar year. Pursuant to Sub‑Item 1, Item 1, Article 219.1 of the Russian Tax Code, individuals who are Russian tax residents are eligible for investment tax deductions in the amount of the profits from sales of Company shares held by the taxpayer for over three years. 25
Non‑residents 15 25 If the income is classified as income of a foreign entity from sources in Russia in accordance with Item 1, Article 309 of the Russian Tax Code. 25

Payment of tax on dividend income is generally made by the tax agent. A Russian organisation, broker, or depository may act as a tax agent Items 3 and 4 of Article 214, Article 226.1, Items 3 and 7, Article 275 of the Russian Tax Code..

Under certain international double tax treaties to which Russia is a party, foreign tax residents may be eligible for a reduced withholding tax rate on Russian‑source income. However, Executive Order of the Russian President No. 585 dated 8 August 2023 suspended the main provisions of double tax treaties between Russia and “unfriendly” countries.