Outstanding senior ordinary bonds

NOT FOR DISTRIBUTION IN THE UNITED STATES, AUSTRALIA, CANADA AND JAPAN

This information does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase or subscribe for any securities.

This information is not an offer for sale of any securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. GPB (JSC) has not registered and does not intend to register any portion of any offering in the United States or to conduct a public offering of any securities in the United States.

This information does not constitute or form part of, and should not be construed as, an offer of securities to the public in the United Kingdom, nor is it intended to be an inducement to engage in investment activity for the purpose of Section 21 of the Financial Services and Markets Act 2000 (as amended) of the United Kingdom. This communication is directed only at (i) persons who are outside the United Kingdom or (ii) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). Any investment activity to which this communication relates will only be available to and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

This communication is distributed in any member state of the European Economic Area which applies Directive 2003/71/EC only to those persons who are qualified investors within the meaning of Article 2(1)(e)of the Directive 2003/71/EC.

The information contained herein does not constitute an advertisement or an offer of, or an invitation to make offers, sell, purchase, exchange or otherwise transfer any securities in the Russian Federation or to or for the benefit of any Russian person or entity.