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KAMAZ HELD BOARD MEETING

24 May 2018

On May 22, a regular board meeting of KAMAZ PTC chaired by Sergey Chemezov, Director General of Rostec State Corporation, took place in Moscow. The directors discussed preparations for the annual general meeting of KAMAZ PTC and considered a range of issues relating to the company's activity.

As for current activities of KAMAZ, the company's shareholders listened to the report on the execution of the 2018 business plan of KAMAZ Group for the first three months.

According to the results of 2017, an annual report was preliminarily approved, information on the composition and content of annual accounting (financial) statements of KAMAZ PTC was taken into consideration. The Annual General Meeting of Shareholders of KAMAZ PTC is to be held on June 29, 2018. New draft editions of the Charter of KAMAZ PTC and internal documents of KAMAZ PTC are approved and submitted for approval at the Annual General Meeting of KAMAZ PTC.

The board directors put forward recommendations for distribution of KAMAZ PTC's net profit gained in 2017 at the sum of three billion sixteen million nine hundred ninety one thousand six hundred twelve roubles. It is recommended to allocate 24.85 percent of net profit (RUB 749.66 bn) to pay dividends on shares of KAMAZ PTC, 5 percent (RUB 150.85 mn) to form the reserve fund of KAMAZ PTC, 70.15 percent (RUB 2.11 bn) to finance investment projects.

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