Notice of AGM

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION

IN OR INTO THE RUSSIAN FEDERATION, THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN

AFI DEVELOPMENT PLC("AFI DEVELOPMENT" OR "THE COMPANY") NOTIFICATION OF ANNUAL GENERAL MEETING

London, 19 November 2019 - AFI Development today announces that its Annual General Meeting will be held at the offices of Fuamari Secretarial Limited, at 4 Spyrou Kyprianou Av., 3070, Limassol, Cyprus, on 16 December, 2019, at 3pm EST. The Notice of the Annual General Meeting together with Forms of Proxy and Form of Direction for depository interest holders have been dispatched to the Company's shareholders. These documents are also available on the Company's website at http://www.afi-development.com/en/investor-relations/reports-presentations.

In compliance with LR 9.6.1, copies of the Notice of General Meeting, the Forms of Proxy and the Form of Direction for depository interest holders will shortly be available for inspection at: http://www.morningstar.co.uk/uk/NSM

You can access copies of the Notice of General Meeting, the Forms of Proxy and the Form of Direction for depository interest holders via the following links:

http://www.rns-pdf.londonstockexchange.com/rns/9573T_1-2019-11-19.pdf

http://www.rns-pdf.londonstockexchange.com/rns/9573T_2-2019-11-19.pdf

http://www.rns-pdf.londonstockexchange.com/rns/9573T_3-2019-11-19.pdf

http://www.rns-pdf.londonstockexchange.com/rns/9573T_4-2019-11-19.pdf 

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For further information, please contact:

AFI Development, Moscow +7 495 796 9988

Ilya Kutnov

Citigate Dewe Rogerson, London +44 20 7638 9571

Sandra Novakov

Lucy Eyles

About AFI Development

AFI Development is one of the leading real estate development companies operating in Russia. Established in 2001, AFI Development is listed on the Main Market of the London Stock Exchange and aims to deliver shareholder value through a commitment to innovation and continuous project development, coupled with the highest standards of design, construction and quality of customer service.

AFI Development focuses on developing and redeveloping high quality commercial and residential real estate assets across Russia, with Moscow being its main market. The Company's existing portfolio comprises commercial projects focused on offices, shopping centers, hotels and mixed-use properties, and residential projects. AFI Development's strategy is to sell the residential properties it develops and to either lease the commercial properties or sell them for a favorable return.

AFI Development is a leading force in urban regeneration, breathing new life into city squares and neighborhoods and transforming congested and underdeveloped areas into thriving new communities. The Company's long-term, large-scale regeneration and city infrastructure projects establish the necessary groundwork for the successful launch of commercial and residential properties, providing a strong base for future.