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Table of Compliance with GRI

Information on GRI G4 disclosure elements is given for Vnesheconombank Group unless stated otherwise.GRI G4 disclosures

UN Global Compact’s Principles

Section of the Report / Comments

Report page

External sign-off

General standard disclosures

Strategy and Analysis

G4-1

Statement from the most senior decision-maker of the organisation

Chairman’s Statement

G4-2

Description of key impacts, risks, and opportunities

Principles 1–10

1.1. Priority Business Lines of Vnesheconombank Group

6.2. Risk management in Vnesheconombank Group

16-25, 126-131

Organisational profile

G4-3

Name of the organisation

About the Report

11

G4-4

Primary brands, products, and/or services

1.1. Priority Business Lines of Vnesheconombank Group

1.2. Strategic Development Priorities

16-30

G4-5

Location of organisation’s headquarters

Appendix 14

189

G4-6

Number of countries where the organisation operates

1.1. Priority Business Lines of Vnesheconombank Group

1.2. Strategic Development Priorities

6.4. Stakeholder Engagement

19-24, 29, 136-143

G4-7

Nature of ownership and legal form

About the Report

11-12

G4-8

Markets served

1.1. Priority Business Lines of Vnesheconombank Group

1.2. Strategic Development Priorities

6.4. Stakeholder Engagement

19-24, 29,
136-143

G4-9

Scale of the reporting organisation

1. Vnesheconombank Group Today

2. Investing in Development

3. Development of Economic Potential

4. Improving the Investment Climate

5.1 Investment of Pension Savings

5.2. Construction of Affordable Housing

7.1 HR Policy

Appendix 9

16-109, 145-146, 183

G4-10

Total number of employees by employment contract, staff and non-staff workforce, gender, employment type, etc.

Principle 6. Businesses should uphold the elimination of discrimination in respect of employment and occupation

7.1. HR Policy

Appendix 2

145-146, 176

G4-11

Percentage of total employees covered by collective bargaining agreements

Principle 1. Businesses should support and respect the protection of internationally proclaimed human rights

Principle 3. Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining

As of 31 December 2014, collective bargaining agreements were made with all employees of BelVEB and Prominvestbank, while 51% of Vnesheconombank’s employees were trade union member

G4-12

Supply chain

Principle 10. Businesses should work against corruption in all forms, including extortion and bribery

1.1. Priority Business Lines of Vnesheconombank Group

6.3. Responsible Business Practices

25, 133-134

G4-13

Significant changes during the reporting period regarding size, structure, or ownership or supply chain

No significant changes regarding size, structure, or ownership were detected in Vnesheconombank and the Group’s entities in 2014.

G4-14

Precautionary principle

Principle 7. Businesses should support a precautionary approach to environmental challenges

2.1. Investment Management

6.2 Risk Management in Vnesheconombank Group

6.3. Responsible Business Practices

7.3. Green Office

The risk management approach is described in detail in annual statements for 2014 and the issuer’s reports http://www.veb.ru/ifi/rep/annual/.

31-32, 38-41, 128-131, 156-159

G4-15

Externally developed economic, environmental and social charters, principles, or other initiatives to which the organisation subscribes or which it endorses

About the Report

2.1. Investment Management

6.4. Stakeholder Engagement

11, 32, 39, 137, 142

G4-16

Memberships of associations and/or national or international advocacy organisations

6.4. Stakeholder Engagement

137, 140, 142-143

Identified Material Aspects and Boundaries

G4-17

All entities included in the organization’s consolidated financial statements

Consolidated financial statements

G4-18

The process for defining the report content and the Aspect Boundaries.

Explain how the organization has implemented the Reporting Principles for Defining Report Content

About the Report

6.4. Stakeholder Engagement

11-13, 143-144

G4-19

List of all the material Aspects identified in the process for defining report content.

6.4. Stakeholder Engagement

144

G4-20

Description of the Aspect Boundary within the organization for each material Aspect

Disclosed topics are material for all entities of Vnesheconombank Group unless otherwise specified.

Calculations for Energy, Water, Emissions and Effluents and Waste Aspects are based on large offices owned by and rented by Group’s entities. Small leased offices with the rental calculated without a breakdown into the cost of resource consumption, waste disposal, etc., were not accounted for

G4-21

Description of the Aspect Boundary outside the organization for each material Aspect

Disclosed topics are immaterial outside Vnesheconombank Group unless otherwise specified.

G4-22

The effect of any restatements of information provided in previous reports, and the reasons for such restatements

There are no re-statements of information provided in the VEB Group’s Sustainability Report 2013. год

G4-23

Significant changes from previous reporting periods in the Scope and Aspect Boundaries

About the Report

12

Stakeholder Engagement

G4-24

List of stakeholders

6.4. Stakeholder Engagement

139

G4-25

Basis for identification and selection of stakeholders with whom to engage

6.4. Stakeholder Engagement

139

G4-26

Approach to stakeholder engagement

6.4. Stakeholder Engagement

139

G4-27

Key topics and concerns that have been raised through stakeholder engagement,

Appendix 10

184

Report Profile

G4-28

Reporting period

01.01.2014 — 31.12.2014

G4-29

Date of most recent previous sustainability report

The VEB Group’s Sustainability Report 2013 was published in 2014. год опубликован в октябре 2014 года

G4-30

Reporting cycle

Vnesheconombank Group publishes its sustainability reports on an annual basis

G4-31

Contact point for questions regarding the report or its contents

Appendix 14

189

G4-32

GRI Content Index

Appendix 1

160-175

G4-33

Assurance

About the Report

Appendices 11-13

12-13, 185-188

Governance

G4-34

Governance structure of the organisation, including committees of the highest governance body

6.1. Corporate Governance System

117-126

Ethics and Integrity

G4-56

Organisation’s values, principles, standards and norms of behaviour such as codes of conduct and codes of ethics

Principle 1. Businesses should support and respect the protection of internationally proclaimed human rights

Principle 2. Businesses should make sure that they are not complicit in human rights abuses

Principle 6. Businesses should uphold the elimination of discrimination in respect of employment and occupation

Principle 10. Businesses should work against corruption in all forms, including extortion and bribery

6.3. Responsible Business Practices

7.1. HR Policy

7.3. Green Office

In Vnesheconombank and most entities of the Group, principles, standards and norms of behaviour are governed by regulatory documents (codes of corporate conduct, codes of ethics and corporate standards, etc.).

Employees are trained on business conduct during an onboarding course.

Some entities of the Group also have in place a relevant online training course.

131-135, 145, 147-148, 150, 152, 156-157

Specific standard discolsures

ЕС

Economic

EC-DMA

Disclosures on management approach

Principle 10. Businesses should work against corruption in all forms, including extortion and bribery

1.1. Priority Business Lines of Vnesheconombank Group

1.2. Strategic Development Priorities

16-17, 25-30

G4-EC1

Direct economic value generated and distributed

Principle 10. Businesses should work against corruption in all forms, including extortion and bribery

Appendix 9

5.3. Charity and Sponsorship

7.2. Volunteer Movement

Vnesheconombank’s Annual Report 2014

Annual reports of Vnesheconombank Group’s entities published on their official web-sites

183, 110-111

G4-EC3

Coverage of the organisation’s defined benefit plan obligations

Principle 6. Businesses should uphold the elimination of discrimination in respect of employment and occupation

7.1. HR Policy

150, 152

G4-EC4

Financial assistance received from government

Principle 10. Businesses should work against corruption in all forms, including extortion and bribery

Vnesheconombank Group: Key Highlights 2014

1.1. Priority Business Lines of Vnesheconombank Group

14, 20-24

G4-EC5

Ratios of standard entry level wage by gender compared to local minimum wage at significant locations of operation

Principle 1. Businesses should support and respect the protection of internationally proclaimed human rights

Principle 6. Businesses should uphold the elimination of discrimination in respect of employment and occupation

7.1. HR Policy

Appendix 8

Salary in Vnesheconombank and the Group’s entities is not conditional upon an employee’s gender.

In the Report, the breakdown by country (Russia, Belarus, Ukraine) is used as a breakdown by significant locations of operation of Vnesheconombank Group

147-148, 182

G4-EC7

Development and impact of infrastructure investments and services supported

Principle 10. Businesses should work against corruption in all forms, including extortion and bribery

1.2. Strategic Development Priorities

2. Investing in Development

3. Development of Economic Potential

4. Improving the Investment Climate

5. Investing in the Community

27-29, 31-116

G4-EC8

Significant indirect economic impacts, including the extent of impacts

Principle 10. Businesses should work against corruption in all forms, including extortion and bribery

1.2. Strategic Development Priorities

2. Investing in Development

3. Development of Economic Potential

4. Improving the Investment Climate

5. Investing in the Community

27-29, 31-116

ЕN

Environmental

EN-DMA

Disclosures on management approach

Principle 7. Businesses should support a precautionary approach to environmental challenges

Principle 8. Businesses should undertake initiatives to promote greater environmental responsibility

Principle 9. Businesses should encourage the development and diffusion of environmentally friendly technologies

7.3. Green Office

156-159

G4-EN1

Materials used by weight or volume

Principle 7. Businesses should support a precautionary approach to environmental challenges

Principle 8. Businesses should undertake initiatives to promote greater environmental responsibility

Principle 9. Businesses should encourage the development and diffusion of environmentally friendly technologies

7.3. Green Office

158-159

G4-EN3

Energy consumption within the organisation

Principle 8. Businesses should undertake initiatives to promote greater environmental responsibility

7.3. Green Office

Under the GRI guidelines, quantitative data were converted from kW-h and Gcal into GJ using 0.0036 and 4.1868 ratios, respectively

158

G4-EN6

Reduction of energy consumption

Principle 8. Businesses should undertake initiatives to promote greater environmental responsibility

In 2014, total consumption of electricity across Vnesheconombank Group was reduced by 35% and constituted 143,449 GJ.

G4-EN8

Total water withdrawal by source

Principle 8. Businesses should undertake initiatives to promote greater environmental responsibility

7.3. Green Office

In 2014, water consumption across Vnesheconombank Group was reduced by 44% and constituted 183,904 cubic meters.

159

G4-EN15

Direct greenhouse gas emissions

Principle 7. Businesses should support a precautionary approach to environmental challenges

Principle 8. Businesses should undertake initiatives to promote greater environmental responsibility

Principle 9. Businesses should encourage the development and diffusion of environmentally friendly technologies

7.3. Green Office

CO2 equivalent emissions in relation to electricity consumption and CO2 equivalent emissions in relation to usage of corporate cars were assessed in line with procedures of European Bank for Reconstruction and Development and guidelines ‘Safeguarding the Ozone Layer and the Global Climate System: Issues Related to Hydrofluorocarbons and Perfluorocarbons’, respectively

158-159

G4-EN23

Total weight of waste by type and disposal method

Principle 7. Businesses should support a precautionary approach to environmental challenges

Principle 8. Businesses should undertake initiatives to promote greater environmental responsibility

Principle 9. Businesses should encourage the development and diffusion of environmentally friendly technologies

7.3. Green Office

In 2014, municipal solid waste sent by Vnesheconombank Group to landfills were increased by 12% and reached 2,748 tonnes

158-159

G4-EN29

Monetary value of significant fines and total number of non-monetary sanctions for non-compliance with environmental laws and regulations

Principle 8. Businesses should undertake initiatives to promote greater environmental responsibility

In 2014, neither Vnesheconombank, nor the Group’s entities were liable to any significant fines or non-monetary sanctions for non-compliance with environmental laws and regulations

G4-EN30

Significant environmental impacts of transporting products and other goods and materials for the organisation’s operations, and transporting members of the workforce

Principle 7. Businesses should support a precautionary approach to environmental challenges

Principle 8. Businesses should undertake initiatives to promote greater environmental responsibility

Principle 9. Businesses should encourage the development and diffusion of environmentally friendly technologies

7.3. Green Office

159

G4-EN31

Total environmental protection expenditures and investments

Principle 7. Businesses should support a precautionary approach to environmental challenges

Principle 8. Businesses should undertake initiatives to promote greater environmental responsibility

Principle 9. Businesses should encourage the development and diffusion of environmentally friendly technologies

7.3. Green Office

156

LA

Social

Labour Practices and Decent Work

LA-DMA

Disclosures on management approach

Principles 1-6

7.1. HR Policy

145, 147-148, 150, 152

G4-LA1

Total number and rates of new employee hires and employee turnover by age group, gender and region

Principle 6. Businesses should uphold the elimination of discrimination in respect of employment and occupation

7.1. HR Policy

Appendix 3

146, 177

G4-LA2

Benefits provided to full-time employees that are not provided to temporary or part-time employees, by significant locations of operation

Principle 6. Businesses should uphold the elimination of discrimination in respect of employment and occupation

7.1. HR Policy

Social benefits are offered by Vnesheconombank Group to all staff employees after the probation period

150-151

G4-LA3

Return to work and retention rates after parental leave, by gender

Principle 6. Businesses should uphold the elimination of discrimination in respect of employment and occupation

Appendix 4

178

G4-LA4

Minimum notice periods regarding operational changes, including whether these are specified in collective agreements

Principle 1. Businesses should support and respect the protection of internationally proclaimed human rights

Principle 3. Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining

Principle 6. Businesses should uphold the elimination of discrimination in respect of employment and occupation

In line with the Russian Labour Code, the notice period in Vnesheconombank and the Group’s entities operating in Russia is 2 weeks.

In BelVEB and Prominvestbank, the notice period provision is included in collective bargaining agreements.

G4-LA6

Type of injury and rates of injury, occupational diseases, lost days, and absenteeism, and total number of work-related fatalities, by region and by gender

Principle 1. Businesses should support and respect the protection of internationally proclaimed human rights

7.1. HR Policy

Appendix 7

In its relations with independent contractors, Vnesheconombank and the Group’s entities are not liable for health and safety of the contractor’s personnel in the work place.

152-153, 181

G4-LA9

Average hours of training per year per employee by gender, and by employee category

Principle 6. Businesses should uphold the elimination of discrimination in respect of employment and occupation

7.1. HR Policy

Prominvestbank calculates average hours of training per year based on the duration of standard trainings and number of employees subject to these trainings

148-150

G4-LA10

Programs for skills management and lifelong learning that support the continued employability of employees and assist them in managing career endings

Principle 6. Businesses should uphold the elimination of discrimination in respect of employment and occupation

7.1. HR Policy

149

G4-LA11

Percentage of employees receiving regular performance and career development reviews, by gender and by employee category

Principle 2. Businesses should make sure that they are not complicit in human rights abuses

Principle 6. Businesses should uphold the elimination of discrimination in respect of employment and occupation

7.1. HR Policy

Appendix 6

147, 180

G4-LA16

Number of grievances about labour practices filed, addressed, and resolved through formal grievance mechanisms

Principle 1. Businesses should support and respect the protection of internationally proclaimed human rights

Principle 2. Businesses should make sure that they are not complicit in human rights abuses

Principle 6. Businesses should uphold the elimination of discrimination in respect of employment and occupation

Principle 10. Businesses should work against corruption in all forms, including extortion and bribery

In 2014, 6 grievances about labour practices were filed by employees of VEB-Leasing and Sviaz-Bank. All grievances were reviewed and resolved in line with Russian labour laws.

HR

Human Rights

HR-DMA

Disclosures on management approach

Principles 1-6, 10

6.3. Responsible Business Practices

7.1. HR Policy

131-135, 145

G4-HR3

Total number of incidents of discrimination and corrective actions taken

Principles 1, 2, 6

All employees of Vnesheconombank Group are guaranteed equal rights and opportunities regardless of their gender, religious and political beliefs, ethnic origin, and age.

In 2014, no cases of discrimination were identified in Vnesheconombank Group.

G4-HR12

Number of grievances about human rights impacts filed, addressed, and resolved through formal grievance mechanisms

Principles 1, 2, 6, 10

In 2014, one grievance about violation of human rights of disabled employees was filed with Sviaz-Bank.

The grievance was reviewed, and the organisation took all necessary measures to address the identified breaches

SO

Society

SO-DMA

Disclosures on management approach

Principle 1. Businesses should support and respect the protection of internationally proclaimed human rights

Principle 2. Businesses should make sure that they are not complicit in human rights abuses

6.3. Responsible Business Practices

6.4. Stakeholder Engagement

131-135, 136-143

G4-SO1

Percentage of operations with implemented local community engagement, impact assessments, and development programs

Principle 1. Businesses should support and respect the protection of internationally proclaimed human rights

Principle 2. Businesses should make sure that they are not complicit in human rights abuses

2.2. Projects for Regional Development and Modernisation of Single-Industry Towns

3.1. Support to SMEs

3.3. Development of Public Private Partnerships

42-54, 68-76, 83-88

G4-SO3

Total number and percentage of operations assessed for risks related to corruption and the significant risks identified

Principle 10. Businesses should work against corruption in all forms, including extortion and bribery

6.3. Responsible Business Practices

In 2014, the Group ran a comprehensive analysis of corruption risks in 77 business units of Vnesheconombank, BelVEB, RDIF and the Far East and Baikal Region Development Fund, or 75% of the total number of business units in these entities

131-132

G4-SO4

Communication and training on anti-corruption policies and procedures

Principle 10. Businesses should work against corruption in all forms, including extortion and bribery

6.3. Responsible Business Practices

Appendix 5

Vnesheconombank Group does not train business partners on anti-corruption policies and procedures.

131-132, 179

G4-SO5

Confirmed incidents of corruption and actions taken

Principle 10. Businesses should work against corruption in all forms, including extortion and bribery

No confirmed incidents of corruption were identified in Vnesheconombank and the Group’s entities in 2014.

G4-SO8

Monetary value of significant fines and total number of non-monetary sanctions for non-compliance with laws and regulations

Principle 1. Businesses should support and respect the protection of internationally proclaimed human rights

Principle 2. Businesses should make sure that they are not complicit in human rights abuses

Principle 10. Businesses should work against corruption in all forms, including extortion and bribery

In 2014, significant fines were imposed on Prominvestbank (RUB 13.25 mn) and Sviaz-Bank (RUB 2.24 mn).

The relevant breaches were related to non-compliance with labour laws and non-payments to tax authorities and the Social Security Fund.

The fines were paid, and the entities took all necessary steps to address the breaches.

No non-financial sanctions regarding Vnesheconombank Group were identified in 2014

G4-SO11

Number of grievances about impacts on society filed, addressed, and resolved through formal grievance mechanisms

Principle 1. Businesses should support and respect the protection of internationally proclaimed human rights

Principle 2. Businesses should make sure that they are not complicit in human rights abuses

Principle 10. Businesses should work against corruption in all forms, including extortion and bribery

No grievances about projects financed by Vnesheconombank Group were filed by local residents in 2014

PR

Product Responsibility

PR-DMA

Disclosures on management approach

Principle 1. Businesses should support and respect the protection of internationally proclaimed human rights

Principle 2. Businesses should make sure that they are not complicit in human rights abuses

Principle 10. Businesses should work against corruption in all forms, including extortion and bribery

6.3. Responsible Business Practices

131-136

G4-PR5

Results of surveys measuring customer satisfaction

Principle 1. Businesses should support and respect the protection of internationally proclaimed human rights

Principle 2. Businesses should make sure that they are not complicit in human rights abuses

6.3. Responsible Business Practices

135

FS

Financial Services Sector Supplement

FS-DMA

Disclosures on management approach

Principles 1, 2, 6-9

About the Report

1.2. Strategic Development Priorities

2.1. Investment Management

3.2. Support to Exports

4.2. Developing HR Potential in the Investment Market

6.1. Corporate Governance System

6.2. Risk Management

6.4. Stakeholder Engagement

7.3. Green Office

In 2014, 21 employees of Vnesheconombank and 76 employees of BelVEB completed a specialised training course on management of social and/or environmental risks and responsible financing

In 2014, Globexbank ran an audit of compliance with environmental and social requirements involving experts from a third-party consultancy

11, 28-32, 38-41, 81, 97-101, 125, 128-129, 137, 141-143, 156-157

G4-FS6

Percentage of the portfolio for business lines by specific region, size (e.g. micro/SME/ large) and by sector

1.1. Priority Business Lines of Vnesheconombank Group

1.2. Strategic Development Priorities

2. Investing in Development

3. Development of Economic Potential

18-25, 27, 29, 31-88

G4-FS7

Monetary value of products and services designed to deliver a specific social benefit for each business line broken down by purpose

1.1. Priority Business Lines of Vnesheconombank Group

2. Investing in Development

3. Development of Economic Potential

5.1. Investment of Pension Savings

5.2. Construction of Affordable Housing

18-25, 31-88, 104-109, 135-136

G4-FS8

Monetary value of products and services designed to deliver a specific environmental benefit for each business line broken down by purpose

Principle 8. Businesses should undertake initiatives to promote greater environmental responsibility

2.4. Environmentally Important Projects

61-64