SBER.L Regulatory News (SBER)

  November 10, 2020, Moscow

PJSC Sberbank holds Supervisory Board meeting

Sberbank announces the results of its Supervisory Board meeting.

Supervisory Board members noted the report on PJSC Sberbank's 9M20 performance results and Sberbank Group's 3Q20 Risk Report.

The meeting noted the information on the international business of PJSC Sberbank and the results of inspections carried out by PJSC Sberbank's Internal Audit Service over 9M20. Additionally, the work plan was agreed on for PJSC Sberbank's Internal Audit Service for 2021.

The Supervisory Board noted the Report on the maturity of the compliance system, the compliance risk management measures that have been taken and those in the pipeline, as well as the Report on the Internal Control Service operations in 2020.

The Supervisory Board heard information on the implementation status of Sberbank's Development Strategy 2020; it approved Sber Group's Development Strategy 2023, and resolved to prepare the materials regarding the disclosure of Strategy 2023 by November 30, 2020.

The Supervisory Board approved the updated version of the Regulation on the Dividend Policy of PJSC Sberbank, according to which Sberbank will maintain its dividend payouts at 50% of the Group's IFRS net profit. These will be adjusted for interest payments net of tax on the equity instruments other than shares recorded in equity and subject to meeting some mandatory requirements. The key mandatory requirements remain firstly, the maintenance of the adequacy ratio of the Group's core IFRS capital at 12.5% or higher and secondly, compliance with the Bank of Russia's capital adequacy ratios taking into account the Risk Appetite approved by the Supervisory Board of PJSC Sberbank.

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Alexander Baziyan

Press office

media@sberbank.ru

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. Sberbank has customers in 18 countries. The bank has a major distribution network in Russia with about 14,000 branches, while its international operations - subsidiary banks, branches, and chapters - include the UK, US, CIS, Central and Eastern Europe, India, China, and other countries. 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.

On September 24, 2020, Sberbank underwent a rebranding, offering financial and non-financial services of the bank and Sberbank Group to individual and corporate customers. Today, the Sber ecosystem is a raft of services for life and daily assistance in handling pressing everyday issues for individual customers and businesses. The Sber ecosystem website: www.sber.ru.