Yandex N : Announces Investment Grade Credit Rating from S&P

Moscow, Amsterdam, January 18, 2022 - Yandex (NASDAQ and MOEX: YNDX), one of Europe's largest internet companies and the leading search and ride-hailing provider in Russia, today announced that S&P Global Ratings has assigned Yandex a first-time long-term issuer credit rating of 'BBB-' with a Stable Outlook. According to S&P Global published report, the key rating drivers included, among others, Yandex's leading position and strong margins in the fast-expanding digital advertising market, its ambitious and innovative product pipeline supported by difficult-to-match technologies and strong talent, the company's growing total addressable market as a result of its diverse revenue streams, as well as conservative financial policy and disciplined approach to investments.

More information regarding Yandex's S&P Global rating assignment can be found on S&P Global website at: http://www.spglobal.com/ratingsdirect

This is the second investment grade rating assigned to Yandex: in the end of December 2021 the company has been assigned a 'BBB' with a Stable Outlook by Fitch.

About Yandex

Yandex (NASDAQ and MOEX: YNDX) is a technology company that builds intelligent products and services powered by machine learning. Our goal is to help consumers and businesses better navigate the online and offline world. Since 1997, we have delivered world-class, locally relevant search and information services, navigation products, while also expanding into e-commerce, online entertainment, cloud computing and other markets to assist millions of consumers in Russia and a number of international markets. Yandex, which has over 30 offices worldwide, has been listed on NASDAQ since 2011 and on Moscow Exchange since 2014.

More information on Yandex can be found at https://yandex.com/company/.

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