Sber informs clients about the start of locked DR conversion

Sber informs clients about the start of locked DR conversion

July 20, 2022, Moscow

The adoption of Federal Law No. 319-FZ dated July 14, 2022 has made possible the conversion of the Sber depository receipts (ISIN: US80585Y3080, US80585Y4070) listed abroad into ordinary shares by law. Depending on their storage location, they will be converted automatically or upon filing an application.

The depositary receipts of Sber that have records in Russian depositories will be converted at the request of the issuer of shares in the manner and within the timeframe to be determined by the Board of Directors of the Bank of Russia.

As to the depositary receipts stored outside the Russian Federation, a forced conversion framework has been established at the request of holders of depositary receipts, who must apply to the Russian depository bank CB J.P. Morgan Bank International (LLC) by October 12, 2022.

More information about the conversion of depositary receipts into Sber ordinary shares will be available in the frequently asked questions section on Sber website.

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PJSC Sberbank is Russia’s largest bank and a leading global financial institution. Holding almost one-third of aggregate Russian banking sector assets, Sberbank is the key lender to the national economy and one of the biggest deposit takers in Russia. The Government of the Russian Federation represented by the Ministry of Finance of the Russian Federation is the principal shareholder of PJSC Sberbank owning 50% plus one voting share of the bank’s authorized capital, with the remaining 50% minus one voting share held by domestic and international investors. The bank has a major distribution network in Russia with about 14,000 branches. It holds general banking license No. 1481 dd. August 11, 2015, from the Bank of Russia. Official websites of the bank: www.sberbank.com (Sberbank Group website), www.sberbank.ru.