Auction results of OFZ26223RMFS placement
on 28 February, 2018

Ministry of Finance of the Russian Federation hereby announces the results of
the auction of 28 February, 2018:

-       bonds offered: OFZ № 26223RMFS (maturity date 28 February, 2024);

-       notional amount offered: RUB 25.000 bn;

-       notional bid amount: RUB 74.129 bn;

-       notional amount placed: RUB 25.000 bn;

-       net proceeds: RUB 24.779 bn;

-       cut-off price: 98.8100%;

-       yield at cut-off price: 6.86%;

-       weighted average price: 98.9916%;

-       yield at weighted average price: 6.82%.