As a global technology company, we seek to adhere to leading global corporate governance standards, making it attractive for business development and offering confidence to investors. Acknowledging the importance of a high level of corporate governance for a successful performance of the business and for achievement of a mutual understanding among all the persons interested in the Сompany’s activities, we have developed its Code of Corporate Governance. The Code aims to ensure the effective protection of the rights and interests of the shareholders, the transparency of decision-making, the professional and ethical responsibility of the members of the Board of Directors, other bodies of management of the Company and the shareholders, a more information openness of the Company, as well as the effective control of the financial and economic operations of the Company. The Board of Directors of the Company, and CEO and employees observe the compliance with the Code. The Board of Directors is constantly seeking to improve its effectiveness. This includes working to achieve the optimal balance of professional knowledge and skills within the Board, as well as a balance among executive, non-executive and independent directors. Currently three of the nine members of the Board are independent directors in compliance with the criteria established by the Federal Law «On Joint Stock Companies», the Company’s Corporate Governance Code and the UK Combined Corporate Governance Code. Participation of independent directors in the work of the Board of Directors allows the Company to adopt informed decisions benefiting all shareholders, and guarantees the transparency of our governance process.