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FESCO Confirms Its Commitment to Pay 20% of the Nominal Amount of the Bonds Series BO-02 upon Receipt of the Waiver

16 June 2016

FESCO PLC (the «Company») announces that, as reported earlier, the Company will pay the specified amount no later than 1 July 2016 (inclusive), if the holders of the Bonds accept the proposal regarding a waiver of their early redemption rights in respect the Bonds, if such rights arise, until 28 November 2016 (the «Waiver»).

The Company is obligated to defer the payment of 20% of the nominal amount of the Bonds until and unless the Waiver is obtained as it acts in the interests of all stakeholders of the Company and its controlled entities and seeks to maintain sufficient liquidity.

The meeting of the holders of the Bonds, the agenda of which includes the voting on the Waiver, will take place on 27 June 2016. The materials for the meeting have been published on the website of the Company under the following link:

http://www.fesco.ru/investor/corporate-bonds/documents/

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