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Deutsche Bank Appointed as Depositary Bank for the Sponsored Level I American Depositary Receipt Program of Joint Stock Company Aeroflot - Russian Airlines

DB

Deutsche Bank today announced its appointment as depositary bank for the non-capital raising sponsored Level I American Depositary Receipt (ADR) program of Joint Stock Company Aeroflot – Russian Airlines (Aeroflot).

Aeroflot (OTC US: AERZY) is Russia’s flagship airline and the largest national air company. A member of the SkyTeam Global Airline Alliance, Aeroflot with its partnering members provides service to more than 1,000 destinations in 178 countries. Aeroflot operates one of the youngest and most modern fleets in Europe with 143 aircraft, which carried 19.3 million passengers in the first 11 months of 2013 (29.1 million passengers as Aeroflot Group). Aeroflot is the principal company in Aeroflot Group, which also includes five other Russian carriers: JSC Donavia, OJSC Rossiya Airlines, JSC ORENAIR, JSC SAT Airlines and JSC Vladivostok Air. Aeroflot operates through its hub at Sheremetyevo Airport in Moscow.*

Jose Sicilia, Global Head of Global Equity Services at Deutsche Bank, said, “We are delighted to expand our portfolio of depositary receipt programs for Russian issuers to include the Level 1 ADR program for Aeroflot. We will provide Aeroflot, a long-standing client of Deutsche Bank’s Depositary Receipts business, with the customized services it requires to broaden its investor base. ”

*Source: Joint Stock Company Aeroflot – Russian Airlines (January 2014)

About Deutsche Bank Trust & Securities Services

Deutsche Bank’s Trust & Securities Services business, part of Global Transaction Banking, is one of the leading providers of trustee, agent, depositary, registrar, SPV management and related services for a wide range of financial structures and transactions. It is a leading depositary for American and Global Depositary Receipts, providing value-added services to companies raising capital in international markets or listing on the New York, NASDAQ, London, Luxembourg, Singapore or NASDAQ Dubai stock exchanges by means of depositary receipts. It also offers both mutual and alternative fund administration and provides securities custody, clearing and agency lending services from a global network spanning more than 30 markets. Additional details are available on www.adr.db.com or www.tss.db.com.

This announcement appears as a matter of record only. This announcement has been approved and/or communicated by Deutsche Bank AG New York.

American Depositary Receipts have been registered pursuant to the US Securities Act of 1933 (the "Act"). The investment or investment service which is the subject of this notice is not available to retail clients as defined by the UK Financial Conduct Authority. This notice has been approved and/or communicated by Deutsche Bank AG New York. The services described in this notice are provided by Deutsche Bank Trust Company Americas (Deutsche Bank) or by its subsidiaries and/or affiliates in accordance with appropriate local registration and regulation. Deutsche Bank is providing the attached notice strictly for information purposes and makes no claims or statement, nor does it warrant or in any way represent, as to the accuracy or completeness of the details contained herein or therein. This announcement appears as a matter of record only. Neither this announcement nor the information contained herein constitutes an offer or solicitation by Deutsche Bank or any other issuer or entity for the purchase or sale of any securities nor does it constitute a solicitation to any person in any jurisdiction where solicitation would be unlawful. No part of this notice may be copied or reproduced in any way without the prior written consent of Deutsche Bank. Past results are not an indication of future performance. Copyright© January2014 Deutsche Bank AG. All rights reserved.



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