Report on Payment of Declared and Accrued Dividends

The right to dividends and dividend payment procedure are stipulated by Sberbank’s Charter and Dividend Policy. Both documents can be found on Sberbank’s corporate website.

Holders of ordinary and preferred shares are entitled to dividends. The minimum dividend on preferred shares is 15% of the nominal value of a preferred share. Pursuant to the Bank’s Charter, dividends are payable once a year in cash by transfer to the shareholder’s bank account. The decision to pay dividends and their amount is made at the annual General Shareholders’ Meeting, based on the Supervisory Board’s recommendations. These recommendations are made taking into consideration the interests of the shareholders and further development of the Bank’s business.

In the reporting year, the Bank increased the amount to be distributed as dividends on Sberbank shares to 12.1% of 2010 net profit based on Russian accounting standards (RAS).

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Year for which dividends are paid Percentage of RAS net profit distributed as dividends Dividend declared/ accrued per ordinary share*, RUB Dividend declared/ accrued per preferred share*, RUB Total dividends declared/accrued on all ordinary and preferred shares, RUB thousand Total dividends paid** on all ordinary and preferred shares, RUB thousand Date of General Shareholders’ Meeting that decided to pay/ declare dividends
2006 10.0 0.3855 0.4650 8,786,757.3 8,786,757.3 29.06.2007
2007 10.0 0.5100 0.6500 11,659,269.8 11,659,269.8 27.06.2008
2008 10.0 0.4800 0.6300 10,991,636.6 10,966,205.4 26.06.2009
2009 10.0 0.0800 0.4500 2,176,955.8 2,169,414.9 04.06.2010
2010 12.1 0.9200 1.1500 21,009,992.2 20,942,903.3 03.06.2011
Year for which dividends are paid Percentage of RAS net profit distributed as dividends Dividend declared/ accrued per ordinary share*, RUB Dividend declared/ accrued per preferred share*, RUB Total dividends declared/accrued on all ordinary and preferred shares, RUB thousand Total dividends paid** on all ordinary and preferred shares, RUB thousand Date of General Shareholders’ Meeting that decided to pay/ declare dividends
2006 10.0 0.3855 0.4650 8,786,757.3 8,786,757.3 29.06.2007
2007 10.0 0.5100 0.6500 11,659,269.8 11,659,269.8 27.06.2008
2008 10.0 0.4800 0.6300 10,991,636.6 10,966,205.4 26.06.2009
2009 10.0 0.0800 0.4500 2,176,955.8 2,169,414.9 04.06.2010
2010 12.1 0.9200 1.1500 21,009,992.2 20,942,903.3 03.06.2011

The Supervisory Board adopted a new Dividend Policy in August 2011. As part of its plans to improve capital structure and build long-term shareholder engagement, the Bank will gradually, over a three-year period, increase dividends to 20% of net profit attributable to the Bank’s shareholders based on the Bank’s annual consolidated financial statements under International Financial Reporting Standards (IFRS). However, dividends will still be paid out of net profit based on Russian legislation, i.e. RAS.

The table below shows the amount of dividends on Sberbank shares for 2011 that the Supervisory Board recommended for approval by the General Shareholders’ Meeting.

Percentage of IFRS net profit Percentage of RAS net profit distributed as dividends Dividend declared/ accrued per ordinary share*, RUB Dividend declared/ accrued per preferred share*, RUB Total dividends declared/ accrued on all ordinary and preferred shares, RUB thousand
15% 15.3 2.08 2.59 47,490,581.8

The decision to pay dividends for 2011 will be made and their amount will be determined at the annual General Shareholders’ Meeting on 1 June 2012. This information will be available on Sberbank’s website.

* Dividends per share for 2006 are restated based on the current face value of stock of RUB 3 per share. ** In some cases declared dividends could not actually be paid because of incorrect shareholder bank details.

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