INSTRUCTIONS for Eurobonds holding investor on opening of a current (settlement) bank account

As part of the implementation of the resolution of the Council of Ministers of the Republic of Belarus and the National Bank of the Republic of Belarus dated 26.09.2022 No.643/20 "On carrying out certain transactions in government securities" (hereinafter Resolution No.643/20) the Ministry of Finance of the Republic of Belarus performs coupon yield payment, early redemption and repayment of the following Eurobond issues:

Belarus-2031 XS2120882183 US07737JAD54 6.378%

Belarus-2030 XS1760804184 US07737JAC71 6.2%

Belarus-2027 XS1634369224 US07737JAA16 7.625%

Belarus-2026 XS2120091991 US07737JAE38 5.875%

Belarus-2023 XS1634369067 US07737JAB98 6.875%
(hereinafter Eurobonds)

A memo on the mandatory actions of an investor-owner of Eurobonds, taking into account each possible option for fulfilling obligations on Eurobonds at the choice of the holder (owner), is posted on the website of the Ministry of Finance of the Republic of Belarus (https://www.minfin.gov.by/ru/public_debt/pressreleases/67ebdd84a94c48df.html).

For early redemption of the mentioned Eurobond issues an investor, regardless of its residency and in the absence of confirmation of the servicing bank of the possibility to credit funds in US dollars, needs to open a current (settlement) bank account in Belarusian rubles (in case of its absence).

At present, Belarusbank can make USD payments mainly to customer accounts with banks in Russia and China.

In order to receive coupon yield payments on the mentioned Eurobond issues, including at their repayment, an investor, regardless of its residency (both individuals and legal entities), needs to open a current (settlement) bank account in Belarusian rubles (in case of its absence).

There is no necessity to open a current (settlement) bank account if such an account already exists in other banks of the Republic of Belarus.

At present, non-resident customers of Belarusbank may open accounts by submitting documents personally or via a person authorized on the basis of a power of attorney.

The bondholder issues a power of attorney for account opening and disposal of funds thereon (if necessary) to an authorized person who is able to personally appear at the bank.

Оpening of an account for a legal entity holder of Belarus' Eurobonds:

To open a bank account a holder of Eurobonds must provide a set of documents:

For residents:

application for account opening;

a copy of the articles of association (pre-incorporation contract – for a commercial organization operating only on the basis of a pre-incorporation contract), bearing a stamp certifying the state registration, a copy of the articles of association (regulations) approved by an act of legislation – for a legal entity;

a copy of the certificate of state registration – for an individual entrepreneur;

a copy of an identity document (passport, identity card, other document) of the person(s) who has been granted the right to open and dispose of the account;

document confirming the authority of the person entitled to open an account;

a questionnaire (completed if possible);

a specimen signature card which can be issued at the bank.

For non-residents:

application for account opening;

a copy of the extract from the commercial register of the country of incorporation of the non-resident or other equivalent proof of the legal status in accordance with the legislation of the country of its incorporation (the extract must be dated no later than one year prior to submission of the application for account opening);

a copy of the articles of association and (or) pre-incorporation contract (other equivalent evidence of the legal status in accordance with the legislation of the country of its incorporation) on the basis of which they act;

a document (copy of the document) confirming legal status in the Republic of Belarus, if its legal status can’t be observed in other official or legislative documents in case a legal entity has legal status in the Republic of Belarus;

a copy of an identity document (passport, identity card, other document) of the person(s) who has been granted the right to open and dispose of the account;

document confirming the authority of the person entitled to open an account;

a questionnaire (completed if possible);

a specimen signature card which can be issued at the bank.

Documents and (or) copies thereof issued, drafted and (or) certified in accordance with the established form by competent authorities of foreign states outside the Republic of Belarus in accordance with legislation of foreign states submitted to a bank institution by non-residents are accepted if they are legalized or apostilled, unless otherwise specified in an international treaty of the Republic of Belarus.

Documents and (or) copies thereof, drafted in a foreign language, when submitted to a bank institution by non-residents, must be accompanied by a duly certified translation into one of the state languages of the Republic of Belarus.

Please note that the list of the documents required to open an account is available on the corporate web site of the bank www.belarusbank.by in Corporate Clients / Small and Medium Businesses - Settlement and Cash Services - Account Opening - Non-residents.

Additionally, in order to confirm the necessity to open an account within the framework of Resolution No. 643/20, it is necessary to provide a copy of the statement on the status of the custody account of the Eurobond holder, as well as a document indicating the absence of encumbrances (restrictions) on Eurobonds (as of the date of the account opening application).

Fees for account opening are charged in accordance with the list and amounts established by the bank effective as of the date of the transaction, or the date of the service provision. The list and amounts of the fees are contained in Belarusbank Fee Schedule freely available at the bank's corporate web site www.belarusbank.by in Our Bank section.

Consultations on current (settlement) bank account opening (hereinafter - account) with Belarusbank can be obtained through:

Belarus' single inquiry telephone number: 147

+375 17 218 84 31, including for calls from beyond Belarus

live support at belarusbank.by

Should additional questions arise regarding the implementation of the resolution of the Council of Ministers of the Republic of Belarus and the National Bank of the Republic of Belarus dated 26.09.2022 No.643/20 "On carrying out certain transactions in government securities" please contact:

the Ministry of Finance of the Republic of Belarus on the telephone +375 17 309 41 92 or e-mail publicdebt@minfin.gov.by;

the Central Securities Depository of the Republic of Belarus on issues of application receipt on the telephone +375 17 375 32 24 or e-mail eurobonds@centraldepo.by

Belarusbank on e-mail eurobonds@belarusbank.by.

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