Auction results of OFZ № 26220RMFS placement
on 19 July, 2017

Ministry of Finance of the Russian Federation hereby announces the results of
the auction of 19 July 2017:

-       bonds offered: OFZ № 26220RMFS (maturity date 7 December, 2022);

-       notional amount offered: RUB 23.779 bn;

-       notional bid amount: RUB 58.680 bn;

-       notional amount placed: RUB 23.779 bn;

-       net proceeds: RUB 23.496 bn;

-       cut-off price: 98.0500%;

-       yield at cut-off price: 8.00%;

-       weighted average price: 98.1020%;

-       yield at weighted average price: 7.99%.