Ivan Krivicic

AGRAM Invest Inc.

Agram Invest joint stock company for investment, management and advisory was founded in early 2008 as a joint stock company for investment fund management and as such was active on the market by the end of 2015. Management style features are commitment, thorough research, experience in asset management, corporate finance and investment in securities in emerging markets. Our investment strategy is based on knowledge of the market infrastructure and detailed analysis of investments with a long-term investment horizon and an active approach to asset management. Agram Invest is a professional investor, which operates in the financial markets on behalf of its own name and for its own account. The Company is an active investor in fixed income instruments, strategic equity positions and participate in project financing by securities issuing. Basic business principles of the company are: * Continuous search for more efficient way of asset management; * Identifying investment opportunities in the already established trends; * Reassessment of risk and reward in every business activity. We participate in the markets when they are in the growth phase, or taking a more cautious position where we think there is an increased risk of potential loss. We carefully manage currency risk and accurately take into account the prospects of refinancing. We give the greater significance to the position of good liquidity and preservation of capital, rather than short-term earnings.