Discovering Markets

Mitigating Risks

Budapest, December 2015

European Forum of Nuclear Industry Suppliers ATOMEX – Europe 2015

EXIAR: Four years of operations

2

▬ Established in 2011, with the objective of re-

launching Russia as a strong exporting country

▬ Mandate expanded to cover i) subsidiaries of

Russian exporters abroad; ii) Foreign

companies, registered in Russian Federation

and exporting goods and services to third

countries; and iii) commodity exports

▬ No limitations re minimum national content

▬ Broad product range

▬ All liabilities are backed by the Sovereign

guarantee

RUSSIAN AGENCY FOR EXPORT CREDIT AND INVESTMENT INSURANCE

3

Comprehensive Export Credits Insurance Supplier Credit Insurance Export Factoring Insurance

Buyer credit Insurance Letter of Credit Insurance Cross-border Leasing

PRODUCTS & INSURANCE COVER up to 90%

Financing for Buyers

Investment Insurance

Insurance for Exporters

EXPORT CREDITS

up to 90%

insurance against commercial and political risks

RUSSIAN INVESTMENTS ABROAD

up to 95%

insurance against political risks

RUSSIAN AGENCY FOR EXPORT CREDIT AND INVESTMENT INSURANCE

0,5

2,2

3,9 3,9

12

61

114124

0

0,5

1

1,5

2

2,5

3

3,5

4

4,5

0

20

40

60

80

100

120

140

2012 2013 2014 3Q 2015

Su

pp

orte

d E

xp

ort

bn

.$

Nu

mb

er o

f Exp

orte

rs

Supported Export Supported Exporters

KEY INDICATORS

RUSSIAN AGENCY FOR EXPORT CREDIT AND INVESTMENT INSURANCE 4

Export supported

Export supported since 2011

USD 10,5 bln

43%

15%

15%

9%

8%

5% 4% 1% Metals

Power Engineering

Other (railway, agricultural engineering, electronics, etc.)

Fertilizers

Ground Transport

Chemicals

Aircraft

Food & Plant

Industry breakdown

SUPPORTED EXPORT BY REGION 1H 2015

5

Eastern Europe Western Europe CIS Americas Asia

EUROPEAN TOP 5 COUNTRIES

Italy

RUSSIAN AGENCY FOR EXPORT CREDIT AND INVESTMENT INSURANCE

44% 14% 13% 13%

Africa

11% 5%

Poland Sweden Germany Greece

2012 2013 2014 1H 2015

1,1

0,4

1,3

0,6

0,2

0,4

0,5

0,6

3,3 1,2

Other regions

Eastern Europe

Western Europe

67%

19%

8%2% 2% 2%

Power engineering

Metallurgy

Fertilizers

Chemicals

Agricultural machinery

Plant and animal products

EXIAR PORTFOLIO

RUSSIAN AGENCY FOR EXPORT CREDIT AND INVESTMENT INSURANCE 6

EUROPE: Exposure by Industry

Growth dynamics

Exposure breakdown

- Industries overlap between Eastern and Western Europe

- Key sectors in the region demand based

Growth dynamics

- 100% YOY growth rate

- Significant concentration in Europe

- Large MLT projects, however 2015 figures for Europe mostly represented by ST transactions

Figures in USD bln.

As of 1H 2015

EXIAR BENEFITS

7

BENEFITS FOR EUROPEAN IMPORTERS

• Better payment terms (deferred payment)

• Financing from Russian and international banks

• Extended financing tenor with optimized financing costs

• Insurance support of joint Russian – European projects

• Insurance support of European companies subsidiaries based in Russia

BENEFITS FOR RUSSIAN EXPORTERS:

• Protection of export receivables

• Better payment terms for existing buyers

• Enter new markets and attract new customers

• Market knowledge

• Financing from Russian and international banks

RUSSIAN AGENCY FOR EXPORT CREDIT AND INVESTMENT INSURANCE

EXIAR: PRODUCTS

8

FINANCING BANK

SELLER/ Russian Exporter

BUYER/ Borrower Export of goods and/or services

This insurance product is intended for protection of a Russian or a foreign bank against the risk of non-repayment of a loan granted to a foreign Borrower to pay for goods (services or works) exported from Russia.

Buyer Credit Insurance

RUSSIAN AGENCY FOR EXPORT CREDIT AND INVESTMENT INSURANCE

EXIAR: PRODUCTS

9

FINANCING BANK

Loan

Ag

reem

en

t secu

red

b

y p

led

ge o

f exp

ort r

eceiv

ab

les

Loan

rep

aym

en

t

SELLER/ Russian Exporter

BUYER/ Importer Export of goods and/or services

Payment according to deferment

This insurance product is intended for protection of suppliers exporting from Russia against the risk of a default by a foreign buyer. The Insurance covers the sales under agreements providing medium and long term deferred payments.

Supplier Credit Insurance

RUSSIAN AGENCY FOR EXPORT CREDIT AND INVESTMENT INSURANCE

EXIAR: PRODUCTS

10

CONFIRMING BANK

Application for

Lett

er

of

Cre

dit

issuance

SELLER/ Beneficiary

BUYER/ Applicant

Export of goods and/or services

Confirm

ation

ISSUING BANK Documentary Letter of Credit

Paym

ent a

t pre

senta

tion o

f d

ocum

ents

confirm

ing e

xport

of G

oods a

nd/o

r Serv

ices

This insurance product is intended for protection of banks that confirm letters of credit (LCs) issued by a foreign bank against the risk of a default. The insurance covers LCs issued to pay for goods (services or works) exported from Russia.

Confirmed Letter of Credit Insurance

RUSSIAN AGENCY FOR EXPORT CREDIT AND INVESTMENT INSURANCE

EXIAR: PRODUCTS

11

BUYER A

BUYER B

BUYER C

EXPORT PORTFOLIO WITH DEFERMENT UP TO 360 DAYS

CONTRACT

CONTRACT

CONTRACT

FINANCING BANK

Loan

Ag

reem

en

t secu

red

b

y p

led

ge o

f exp

ort

receiv

ab

les

Loan

rep

aym

en

t

SELLER/ Russian Exporter

This insurance product is intended to protect suppliers exporting from Russia against the risk of defaulted payments by foreign buyers. The Insurance on a portfolio basis covers regular deliveries of similar goods supplied under deferred payment terms (up to 360 days) to a pool of regular foreign buyers.

Comprehensive Export Credit Insurance

RUSSIAN AGENCY FOR EXPORT CREDIT AND INVESTMENT INSURANCE

EXIAR: PRODUCTS

12

Russian Investor

Insurance Agreement Foreign Company

Investments

INVESTMENT PROJECT

This insurance product is intended to protect Russian investors against the risk of investments’ loss as a result of political events. Coverage applies to investments made abroad either in the form of capital investments in foreign companies or provided as loans (loans) or in other forms.

Investment Insurance

RUSSIAN AGENCY FOR EXPORT CREDIT AND INVESTMENT INSURANCE

EXIAR: EXPERIENCE WITH ROSATOM

RUSSIAN AGENCY FOR EXPORT CREDIT AND INVESTMENT INSURANCE 13

Supported export

Deals in progress

2014

Buyer credit insurance

Nuclear fuel

supply to Ukraine

2013

Buyer credit insurance

Nuclear fuel

supply to Slovakia

2014

Buyer credit insurance

Nuclear fuel

supply to Slovakia

Total export supported USD 1,093 bln.

2015

Working capital credit insurance

Supply of power

equipment to India

2013 - current

Buyer credit insurance

Development of

nuclear plant in Finland

Projects for few billion USD in the pipeline.

Thank you!

Thank you!

RUSSIAN AGENCY FOR EXPORT CREDIT AND INVESTMENT INSURANCE 14