Replacement: Resolutions of PJSC NCSP's Board

CORRECTION TO APPROVAL OF TRANSACTION

Lead wording was corrected

from "a number of related-party transactions"

to "a number of transactions".

Item 2 was corrected

from "approval of a transaction subject to the rule of transactions valued above 10% and below 25% of the issuer's assets book value (unconsolidated)"

to "approval of a major transaction - placement of bonds - subject to the rule of transactions valued above 10% and below 25% of the issuer's assets book value (unconsolidated)".

Wording "Further details of the transactions shall be disclosed as material facts under Russian law" was removed.

Maturity date (2016) for unplaced issues removed from reference table.

All other details remain unchanged.

The correction was issued to match additional disclosure in Russian that followed up on the original press-release.

The full amendment text is shown below.

Press-release

Resolutions of PJSC NCSP's Board of Directors

3 March 2015

Novorossiysk Commercial Sea Port Group (NCSP Group or the Group) (LSE: NCSP, Moscow Exchange: NMTP) hereby reports that a number of related-party transactions were approved by PJSC NCSP's Board of Directors on 27 February 2015.

1. approval of a series of related party transactions;

2. approval of a major transaction - placement of bonds - subject to the rule of transactions valued above 10% and below 25% of the issuer's assets book value (unconsolidated);

3. approval of amendments to exchange traded bonds issues (ISIN RU000A0JS7L0)- amendments to the decision on placement of issues BO-01, BO-03, BO-04, BO-05;- amendments to the decision on emission of issues BO-01, BO-03, BO-04, BO-05;- amendments to the prospectus of issues BO-01, BO-02, BO-03, BO-04, BO-05.

In the above agenda «placement of bonds» refers solely to approving amendments to previously registered issues of PJSC NCSP's exchange traded bonds and respective emission documentation to bring these up to date with the current requirements of the Russian securities market regulations, and does not imply issue of new securities or raising new capital.

Reference information

On 4 March 2012 PJSC NCSP's Board of Directors approved placement of exchange traded bonds (ISIN RU000A0JS7L0) in issues BO-01, BO-02, BO-03, BO-04, and BO-05 for the total amount of 18 billion rubles, and respective prospectus.

Bond issues BO-01, BO-02, BO-03, BO-04, and BO-05 comprised 5 billion, 4 billion, 4 billion, 3 billion, and 2 billion rubles respectively. On 2 May 2012 issue BO-02 for 4 billion rubles started trading on the Moscow Exchange.

A number of material additions to the Russian securities market regulations occurred in 2013 and 2014, including the commencement of the federal law №210-FZ dated 23 July 2013 on amendments to the Federal law on securities markets, which required updates and amendments to be introduced to some securities emission documents previously registered by the Federal Service on Financial Markets and/or the Central Bank, and/or the Moscow Exchange.

PJSC NCSP's exchange traded bonds (ISIN RU000A0JS7L0)

About NCSP Group

NCSP Group is the largest port operator in Russia and the third-largest in Europe, in terms of cargo turnover. NCSP shares are traded on Russia's Moscow Exchange (ticker: NMTP) and on the London Stock Exchange in the form of GDRs (ticker: NCSP). NCSP Group cargo turnover in 2014 totalled 131 million tonnes. Consolidated revenue to IFRS in 2013 totalled USD 928 million and EBITDA was USD 510 million. NCSP Group consolidates the following companies: PJSC Novorossiysk Commercial Sea Port, LLC Primorsk Trade Port, PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Ship Repair Yard, OJSC NCSP Fleet, OJSC NLE, OJSC IPP, CJSC Baltic Stevedore Company, and CJSC SFP.

Contacts

Kristina Senko, Public Relations; KSenko@ncsp.com

Mikhail Shchur, Investor Relations; MShchur@ncsp.com