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Company Response

8 Nov 2021

Author:
Raiffeisen Bank International

Response by Raiffeisen Bank International

Priorbank was and is obliged to block certain customer accounts due to orders issued by Belarusian authorities (e.g. tax authorities, anti-money laundering authorities, public prosecutor's office). Such orders are made known to the customers concerned so that they can contact the competent authorities, provide any information they may have ordered and, if necessary, also appeal. You are probably aware of the report from November last year in the British Guardian. According to this, the Belarusian Investigative Committee (as we understand it, a kind of prosecutorial police agency) issued a decision to seize funds sent by a British fund to recipients in Belarus.

Ref. Eurobonds: The bond was issued well before the presidential elections. All legal and regulatory requirements were met. The bond finances the Belarusian state budget and was intended to support the country's transformation.

Ref. sanctions: RBI complies with all applicable sanctions, taking into account its contractual obligations and applicable laws.

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