The authorised share capital of PAO Sovcomflot as at 31 December 2018 amounted to RUB 1,966,697,210 and consisted of 1,966,697,210 ordinary registered shares with a nominal value of one rouble each.

In accordance with the resolution of the Annual General Meeting of Shareholders of PAO Sovcomflot dated 30 June 2014 (Instructions No. 696-r of the Federal Agency for State Property Management dated 30 June 2014), it was decided to increase the authorised capital by placing additional 280,956,743 ordinary registered shares.

As part of implementing this resolution, on 17 December 2014 the PAO Sovcomflot Board of Directors (Minutes No. 141) approved the decision on the additional issue of ordinary registered uncertified shares of PAO Sovcomflot and the securities prospectus for these shares. The said documents were registered with the Bank of Russia in 2015 (state registration number of the additional issue: 1-01-10613-A).

Taking into account the time limit for placing the Company’s additional share issue (not later than 1 March 2018), by the resolution of the extraordinary meeting of shareholders of PAO Sovcomflot dated 1 March 2018 (Instructions No. 95-r of the Federal Agency for State Property Management dated 1 March 2018) it was decided to cancel the placement of equity securities (1-01-10613-А) and to increase the authorised capital of PAO Sovcomflot by placing additional 280,956,743 ordinary registered uncertified shares on the previous terms.

On 19 March 2018, in accordance with the resolution of the extraordinary general meeting of shareholders dated 1 March 2018 (Instructions No. 95-r of the Federal Agency for State Property Management dated 1 March 2018) to cancel the placement of equity securities (1-01-10613-А), the Bank of Russia passed a decision to recognise the additional issue of securities not to have taken place because no securities had been placed and the state registration of the issue had been cancelled.

In pursuance of the resolution of the extraordinary general meeting of shareholders dated 1 March 2018 (Instructions No. 95-r of the Federal Agency for State Property Management dated 1 March 2018) to increase the authorised capital, on 28 August 2018 the PAO Sovcomflot Board of Directors (Minutes No. 174) approved the decision on the additional issue of ordinary registered uncertified shares of PAO Sovcomflot and the securities prospectus for these shares. The said documents were registered by the Bank of Russia on 22 November 2018 (state registration number of the additional issue: 1-01-10613-A).