VTB Bank public joint stock : Supervisory Council decided to convene the AGM of shareholders and to make recommendations on dividend payments for 2020

The Supervisory Council of VTB Bank has decided to convene the AGM (Annual General Meeting) of shareholders on 4^th June 2021. Due to the continuing restrictions on holding mass events, it was decided the meeting to be held in the form of absentee voting.

The list of persons entitled to participate in the meeting will be compiled by 11^th May 2021. Shareholders can vote electronically via VTB Shareholder mobile app and on VTB Registrar's website from 12^th May to 4^th June.

The agenda materials will be published in a special section of VTB website, and they will be available in the Shareholders' Centres in Moscow, St. Petersburg, and Yekaterinburg from 5^th May 2021.

The Supervisory Council has also decided to recommend to the AGM of shareholders to pay dividends on VTB Bank shares in the amount of RUB 35.65 billion. The distribution of dividend payments is recommended in the following proportion: ordinary shares - RUB 18.15 billion, type 1 preference shares - RUB 7.18 billion, type 2 preference shares - RUB 10.32 billion. Based on the average market value of ordinary shares in 2020 and the nominal value of preference shares, the dividend yield will be 3.75% for ordinary shares and 3.36% for preference shares of both types. The dividend payments on ordinary shares will correspond to the payment of dividends in the amount of 50% of net profit under IFRS, and the dividend payments on preference shares will correspond to the payment of dividends in the amount of 45% of the net profit under IFRS.

If approved at the AGM of shareholders, the dividend will be as follows (in rounded figures): per one ordinary share - RUB 0.0014, per one type 1 preference share - RUB 0.000336, and per one type 2 preference share - RUB 0.00336. Compared to the previous year, the amount of dividend payment on ordinary shares will increase by 81%. The date on which the list of persons entitled to receive dividends is determined to be 22^nd June 2021.

Payment of the aforementioned dividends after approval at the AGM of shareholders will be made within the following terms from the date on which the persons entitled to receive the dividends are determined:

• Within 10 working days - to a nominee holder and a trustee who is a professional participant in the securities market, who are registered in the register of shareholders.
• Within 25 working days - to other persons registered in the register of shareholders.

VTB Management Board member Dmitry Pianov noted:

'VTB's policy is to provide dividends on ordinary shares that correspond to the payment of 50% of net profit under IFRS. This level of dividends is proposed for approval for the past year, and we confirm the plan to continue to adhere to this approach. We are confident that the normalisation of profitability in the current year, when we expect to earn a net profit of RUB 250 billion and an increase in profitability in further on will deliver a very attractive level of dividend yield on VTB shares.'