Auction results of OFZ № 26220RMFS placement
on 20 September, 2017

Ministry of Finance of the Russian Federation hereby announces the results of
the auction of 20 September 2017:

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

-       notional amount offered: RUB 25.000 bn;

-       notional bid amount: RUB 74.277 bn;

-       notional amount placed: RUB 25.000 bn;

-       net proceeds: RUB 25.442 bn;

-       cut-off price: 99.7474%;

-       yield at cut-off price: 7.60%;

-       weighted average price: 99.7801%;

-       yield at weighted average price: 7.59%.