WITH RUSSIAN DIRECT INVESTMENT FUND

“I would like to emphasize that the long-term goals for the development of the country remain unchanged. Russia maintains macroeconomic stability, and we consider this one of our achievements.”

“To revitalize the economy, we intend to utilize our own financial resources and channels and step up cooperation with foreign investors and banks. The work of the Russian Direct Investment Fund shows that major financial institutions have not lost confidence in Russia, with joint investment projects and platforms attracting around $15 billion.”

VLADIMIR PUTIN, PRESIDENT OF RUSSIA

“The main macroeconomic indicators – national debt and the budget deficit – are stable. Moreover, we have been able to maintain a very significant level of international reserves.”

“The Russian Direct Investment Fund shares with investors not only the profits but also the risks… The majority of our foreign colleagues take a positive view on the creation of RDIF as a reliable partner, an anchor investor.”

DMITRY MEDVEDEV, PRIME MINISTER OF RUSSIA

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WHY INVEST IN RUSSIA?www.rdif.ru

GROWTH OF MODERN RUSSIA IN NUMBERS

Russia is the world’s 6th largest economy by GDP (PPP).

The Russian economy is expected to grow to $4 trillion in 2020.

Russia has one of the largest domestic markets in the world, ranking 7th among 144 countries.

Russia has one of the lowest levels of public debt of any major economy .

Russia’s middle class tripled in the last 5 years.

GDP per capita (PPP) is the largest among BRICS countries.

Nominal GDP per capita increased compared to that of the United States from 1/20 in 2000 to more than 1/4 in 2014.

Low unemployment rate of 5.2%.

* Actual 2014 or expected where actual not availableSources: IMF, Rosstat, UNCTAD, World Economic Forum Global Competitiveness Report

* Actual 2014 or expected where actual not availableSources: IMF, Cеntral Bank of Russia, Russian Federal Treasury, Rosstat, Moscow Exchange

1999 2014*

GDP per capita, PPP $ 9,258 24,806

Nominal GDP per capita, $ 1,334 12,925

Federal budget expenditures, $ bn 27 384

International reserves of Russia, $ bn 12 385

Average nominal monthly wage, $ 61 843

Assets of Russian Banking System, $ bn 59 1,381

Capitalization of Russian stock market, $ bn 40 406

Public debt, % of GDP 99.0% 17.9%

Inflation 36.5% 11.4%

Unemployment 13.0% 5.2%

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GROWTH OF MODERN RUSSIA IN NUMBERS

GROWTH OF MODERN RUSSIA IN NUMBERS

RUSSIA’S GDP PER CAPITA ALMOST TRIPLED SINCE 1999 TOTAL VALUE OF ASSETS OF RUSSIAN BANKING SYSTEM ROSE OVER 20 TIMES

INTERNATIONAL RESERVES OF RUSSIA INCREASED MORE THAN 30 TIMES CAPITALIZATION OF THE RUSSIAN STOCK MARKET GREW OVER 10 TIMES

* Actual 2014 or expected where actual not availableSources: IMF, Cеntral Bank of Russia

* Actual 2014 or expected where actual not availableSources: Cеntral Bank of Russia, Moscow Exchange

1999 $9,258

1999 $12bn

2014 $24,806

2014 $385bn

1999 $59bn

2014 $1,381bn

1999 $40bn

2014 $406bn

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The Russian Direct Investment Fund is a $10 billion fund established to make equity investments primarily in the Russian economy.

RDIF was created in 2011 under the leadership of the President and Prime Minister of Russia to co-invest alongside top global investors, acting as a catalyst for direct investment in Russia.

RDIF has invested and committed for this purpose over RUB 420 billion, of which RDIF alone invested RUB 55 billion and over RUB 365 billion came from co-investors, partners and banks.

RDIF also attracted over $25 billion of foreign capital into the Russian economy through long-term strategic partnerships.

ABOUT RDIF

Alexei V. UlyukaevMinister of EconomicDevelopment of theRussian Federation

Elvira S. NabiullinaChairperson of the Bank of Russia

Andrey R. BelousovAide to the Presidentof the Russian Federation

Vladimir A. DmitrievChairmanVnesheconombank

Kirill A. DmitrievCEO Russian DirectInvestment Fund

Chief of Staff of theExecutive Office of the President of the Russian Federation

Anton G. SiluanovMinister of Finance of the Russian Federation

Laurent VigierChairman and CEOCDC International Capital

Sergei B. Ivanov

Dominique Strauss-KahnManaging DirectorParnasse SARL

SUPERVISORY BOARD

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RDIF led B20 “Investments and infrastructure” taskforce in 2013, the year of Russian G20 and B20 Presidency. As Turkey has taken over the G20 Presidency in 2015, Kirill Dmitriev, the CEO of RDIF has again been asked to become the Co-Chair of B20 Investments and Infrastructure Taskforce. RDIF is also in active discussion with a range of governmental organizations in Russia on measures to facilitate investment in infrastructure.

RDIF has launched the Centre to attract foreign investment into the Russian regions. The Centre was created to gather information on doing business in Russia, as well as the specific investment opportunities available across the regions of Russia.

Each year as part of the St. Petersburg International Economic Forum RDIF organizes a panel discussion dedicated to investment opportunities in Russia, as well as a traditional meeting between the President of Russia Vladimir Putin and the leaders of the global investment community. RDIF is also a significant contributor to the World Economic Forum in Davos actively participating in key sessions and hosting own events focused on Russia.

RDIF actively participated in the creation of the Investment Council, an advisory body under the Chairman of the State Duma of the Russian Federation to improve the existing rules and regulations to stimulate the investment demand and supply.

RDIF is representing Russia at the International Forum of Sovereign Wealth Funds (IFSWF) – an organisation that brings together the world’s leading sovereign wealth funds and government-run pension funds.

The members cooperate on issues concerning global financial stability, prospects and potential challenges of managing state assets, and possible steps to increase business transparency and to adhere to the Santiago Principles.

RDIF’s CEO has been appointed to represent Russia at the BRICS Business Council launched to foster multilateral investment among BRICS countries.

RDIF’s CEO represents Russia at the APEC Business Advisory Council (ABAC). Set up to drive global growth and stability of APEC economies.

CEO of RDIF has been appointed Chairman of the Consultative Committee of Entrepreneurs of the Intergovernmental Russia-China Commission. On the Chinese side, this post was taken by Chairman and CEO of China Investment Corporation (CIC), the company which partnered with RDIF on the creation of Russia-China Investment Fund (RCIF).

RDIF cofounded Co-investment Roundtable of Sovereign and Pension Funds (CROSAPF). The organisation brings together 31 fund with around $7 trillion under management from 17 countries.

Co-investment Roundtable OfSovereign And Pension Funds

RDIF INITIATIVES RDIF INITIATIVES

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RDIF invested in the Moscow Exchange prior to its IPO and brought a number of investors including China Investment Corporation (CIC), BlackRock, the European Bank of Reconstruction and Development (EBRD), Cartesian Capital and KIA. Later the fund acted as the anchor investor in the IPO of the Moscow Exchange and in placement of the Central Bank of Russia block attracting in both transactions leading international co-investors from the US, China, Singapore, UAE, Qatar, UK and Germany.

Consortium of RDIF, Macquarie Renaissance Infrastructure Fund (MRIF), AGC Equity Partners and Xenon Capital Partners acquired a blocking stake in Enel Russia, one of the leading power generating companies in Russia. This was the largest private equity deal in the energy sector. Investment by AGC in this deal was the largest ever investment in Russia from a Middle Eastern investor.

Russia-China Investment Fund (RCIF), the joint fund of RDIF and China Investment Corporation (CIC), made its first investment in RFP Group (Russian Forest Products), Russia’s second largest wood processing company.

RDIF acted as the anchor investor in the IPO of the MD Medical Group (MDMG) bringing BlackRock, Russia Partners and other qualified institutions as co-investors. MDMG is the No 1 private network of prenatal clinics and hospitals in Russia.

Consortium of RDIF, Baring Vostok Private Equity and UFG Private Equity together with media entrepreneur Paul Heth acquired a controlling stake in Karo Film, one of Russia’s leading and fast developing cinema chains.

GROUP OF COMPANIES

PORTFOLIO COMPANIES PORTFOLIO COMPANIES

RDIF and Baring Vostok Private Equity Fund V invested in Tigers Realm Coal Limited (TIG), an Australian listed company with coking coal assets in the Chukotka province in Russia’s Far East. The funds will be used by TIG to further develop and continue exploration of deposits in Chukotka.

A consortium comprised of RDIF, One Equity Partners and Titan International Inc., leading international strategic player, jointly invested in Voltyre-Prom, the largest producer of agricultural and industrial tyres in Russia & CIS.

RDIF led the consortium of investors including the European Bank for Reconstruction and Development (EBRD) and CapMan, one of the leading Nordic alternative asset managers. The consortium invested in growth of MAYKOR, the leading player in the Russian IT and business processes outsourcing market.

RDIF together with Deutsche Bank and the leading investors from the Middle East made a joint investment in one of Russia’s largest telecommunications companies, Rostelecom. The investment will be used to further develop and strengthen the company’s market position.

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RDIF has attracted a number of leading foreign investors from North America, Middle East, Western and Northern Europe and Southeast Asia into a consortium to invest in the IPO of ALROSA, a Russian diamond company. ALROSA is the largest diamond producer in the world by output in carats.

RDIF and the European Bank for Reconstruction and Development (EBRD) made a joint investment in Cotton Way, Russia’s leading commercial laundry and textile management company.

PORTFOLIO COMPANIES PORTFOLIO COMPANIES

Funds from RDIF, the Russian National Wealth Fund (NWF) and private investors will be used to finance projects aimed at eliminating digital inequality across Russia’s regions in partnership with Rostelecom. NWF funds were granted to RDIF to finance infrastructure projects.

RDIF together with international investors and Rosseti (JSC Russian Grids) will invest in the project aimed at introducing “smart grids” across Russia’s regions using funding granted by the Russian National Wealth Fund (NWF). The construction of “smart grids” will improve the energy efficiency of Russian Grids’ subsidiary and dependent companies. Kaliningrad, Yaroslavl and Tula have been chosen as pilot regions for the project.

RDIF acted as a lead anchor investor in the SPO of Lenta Ltd., one of the largest and most successful retail chains in Russia. RDIF was joined by its co-investors and partners from the Middle East, Asia and Europe alongside other investors to support growth and development of Lenta in Russia.

RDIF and Russia-China Investment Fund (RCIF) participated in equity offering of PJSC Magnit. Magnit is the Russia’s largest retailer.

The consortium comprising RDIF, Changi Airports International (CAI), a wholly-owned subsidiary of the world’s leading airport operator Changi Airport Group, and Basic Element, one of Russia’s diversified industrial groups, has been announced as the winner of the tender to acquire shares in Vladivostok International Airport in Russia’s Far East. Vladivostok International Airport is strategically important for the development of the air transportation system in the region due to its geographical location – the crossing of two air routes between the Russian Far East and the Asia Pacific region.

Russia-China Investment Fund (RCIF), the joint fund od RDIF and China Investment Corporation (CIC), announced an investment to construct the first ever railway bridge over the Amur river on the border between Russia and China. The new bridge will have a capacity of up to 21 million tonnes per year and will connect the Jewish Autonomous Region with the Chinese province of Heilongjiang.

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Fondo Strategico Italiano

Russia-China Investment Fund

Russian-Korean Investment Platform

Russian-Japanese Investment Platform

Co-investment Fund with Mubadala

Partnership with Abu Dhabi Department of Finance

Partnership with State Bank of India

Automatic Co-investment Mechanism

Russia-France Investment Fund

Russian-Italian Investment Platform

MoU with Mumtalakat to promote investment cooperation

Partnership with Egyptian Ministry of Investment

Co-investment Fund with Qatar Holding

Qatar Holding

RDIF PARTNERSHIPS AT A GLANCE

Ministry of Investment

Partnership with the Public Investment Fund (PIF)

Partnership with the Saudi Arabian General Investment Authority (SAGIA)

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RDIF PARTNERSHIPS RDIF PARTNERSHIPS

Together with China Investment Corporation (CIC) RDIF created a $2 billion Russia-China Investment Fund, 70% of which will be invested in Russia. Up to $2 billion is expected to be raised from international investors.

RDIF, Vnesheconombank (VEB) and Japan Bank for International Cooperation (JBIC) have signed a joint memorandum creating the Russian-Japanese Investment Platform. RDIF and JBIC will each invest $500 million. VEB will potentially provide financing to fund projects and design new financial products to support the platform. This platform will drive economic cooperation, trade and investment between Russia and Japan.

RDIF and Korea Investment Corporation (KIC) have signed a memorandum to form the Russian-Korean Investment Platform. The investment platform will focus on cross-border investments, which fulfill Russian-Korean strategic interests.

RDIF and Fondo Strategico Italiano (FSI) agreed to establish a €1 billion Russian-Italian investment platform. The two financial institutions will invest in companies and projects promoting the development of foreign trade and FDI between Italy and Russia.

Fondo Strategico Italiano

RDIF and Mubadala Development Company (Mubadala), the Abu Dhabi-based investment and development company, agreed to launch a $2 billion co-investment fund to pursue opportunities in Russia. The fund will predominantly focus on long-term investment projects across a range of industry sectors.

RDIF and State Bank of India (SBI) have created a new co-investment consortium in order to expand bilateral economic cooperation. The partnership is set up to develop infrastructure to facilitate access to long-term capital in Russia and India, and to actively promote mutual investments between the two countries.

RDIF launched an automatic co-investment mechanism, with the first $500 million from Kuwait Investment Authority. This vehicle allows international investors to automatically participate in every RDIF transaction on a pro-rata basis.

RDIF and Caisse des Dépôts International (CDC International) have launched the Russia-France Investment Fund. RFIF will seek attractive investments across a broad range of sectors and asset classes, including equity and debt securities, infrastructure and real estate in Russia and France with strong focus on opportunities promoting economic co-operation between the two countries.

RDIF and Qatar Holding, the Qatar sovereign wealth fund, announced the launch of co-investment fund. The fund will predominantly focus on long-term investment opportunities across a range of industry sectors, mainly in Russia.

RDIF and Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), have announced a partnership to invest in attractive projects in Russia, in areas including infrastructure and agriculture. The parties are looking at projects that will strengthen trade, economic and investment co-operation between the two countries. Under the agreement, PIF will invest $10bn in the partnership. RDIF also signed a partnership agreement with another Saudi Arabian sovereign wealth fund, the Saudi Arabian General Investment Authority (SAGIA). The parties will identify attractive joint investment opportunities.

Qatar Holding

RDIF and Mumtalakat, the investment arm of the Kingdom of Bahrain, signed an MoU to promote investment cooperation between Russia and Bahrain. The partnership promotes the exchange of information and expertise in the sectors and areas of common interest and identification of investment opportunities in Russia and Bahrain.

Abu Dhabi Department of Finance committed $5 billion managed by Mubadala Development Company (Mubadala) to invest in Russian infrastructure projects.

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RDIF PARTNERSHIPS RDIF PARTNERSHIPS

RDIF and Tata Power, part of the Tata Group and one of India’s leading electricity generation companies, today signed a Memorandum of Understanding to develop investment opportunities in the energy sector.

RDIF and CITIC Merchant, the merchant banking arm of leading Chinese financial group CITIC, have agreed to set up a Russia-China Investment Bank. The signing ceremony was held as part of the visit to Russia of the Chinese President Xi Jinping. The institution will provide a wide range of investment banking services to strengthen economic cooperation between Russia and China, focusing on attracting Chinese capital into Russian companies.

RDIF and the IDFC Ltd., India’s leading financial services company, today have agreed to jointly invest in infrastructure projects to boost economic cooperation between Russia and India. Each party will provide up to $500 million.

RDIF, the Russia-China Investment Fund (RCIF) and the People’s Government of Heilongjiang province, have agreed to increase cooperation in agriculture, including farming, land management, customs procedures, food logistics and sales. The parties, attracting leading international investors, will launch a specialist $2bln fund targeting investment in agricultural projects in Russia and China. Under the agreement they will also consider creating an experimental agricultural free trade zone between the Heilongjiang province and the Amur Region. This free trade zone will use the direct exchange rate between the rouble and the yuan, and will support the implementation of incentives for Russian and Chinese high-tech agricultural businesses.

A consortium of investors comprising the Russia-China Investment Fund (RCIF), Sukhoi Civil Aircraft Company, United Aircraft Corporation, the Xixian New Area Management Committee of Shaanxi province (Xixian) and New Century International Leasing, have agreed to establish a leasing platform to promote the Sukhoi Superjet 100 (SSJ100) passenger aircraft to Chinese and other Asian markets. According to the agreement, the consortium plans to launch a leasing platform and create the necessary facilities in Xixian for its efficient operation. It is estimated that up to 100 aircraft will be delivered to the Chinese and South-East Asian markets through the leasing platform over the next three years.

RDIF and Renaissance Holding, one of the leading construction, development and investment companies, have agreed to jointly invest into projects across Russia’s regions. The two parties will invest in the healthcare and infrastructure sectors, using public private partnership (PPP) models, and also the construction of new shopping centers in the regions.

RDIF, the Russia-China Investment Fund (RCIF) and one of China’s leading banks, China Construction Bank Corporation (CCB), have agreed to enter into a partnership which will facilitate debt financing of creditworthy Russian companies by Chinese banks. Under the agreement the parties will establish a close working relationship to facilitate cooperation between high-quality Russian issuers and leading Chinese credit institutions. Investment from RDIF and RCIF will allow Chinese banks to increase the limits on loans and improve access to currency funding for both Russian and Chinese creditworthy companies.

RDIF and the Egyptian Ministry of Investment have agreed to bolster investment cooperation between the two countries. Within this agreement RDIF will support the creation of an Egyptian investment fund.

Ministry of Investment

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WHY RUSSIAKey facts about the Russian economy.

WHERE TO INVESTCOMPARE REGIONSA benchmarking tool to compare regions as investment destinations.

SECTORSReports, guides and other materials about key industries.

REGIONAL PROFILESMost up to date information for an informed investment decision with regards to any specific region.

Historical perspective on top international companies which have made specific regions in Russia their home, and their profiles

KNOWLEDGE HUB & NEWSInvestment News and Research, case studies, guides, industry reports and comments from investment professionals and the business community around the world.

INVESTMENT TOOLSTHEY CHOOSE RUSSIASuccess stories of foreign investors from multiple Russian regions.

PROJECT DATABASEThe central storehouse of information on regional projects, verified by the Russian Direct Investment Fund professionals.

SITE SELECTION TOOLSThe easy-to-use property search tool.

INFORMATION PLATFORM INVEST IN RUSSIA

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INVESTIN RUSSIA

Capital City, South Tower8 Presnenskaya nab., building 1

Moscow, Russia, 123317Telephone: +7 (495) 644-34-14

Fax: +7 (495) 644-34-13IR@rdif.ruwww.rdif.ru

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