Shareholders

Beneficial Owners VAB Bank is jointly controlled by the following parties: Kardan N.V. (Netherlands) acting through TBIF with holding of 48.9% of the Bank’s issued shares, and private shareholders Mr. Sergey Maksimov, Mr. Peter Baron and Ms. Liudmila Maksimova (each a member of the Maksimov family) with combined direct and indirect holdings of 48.9% of the Bank’s issued shares.

Kardan NV is an international investment company based in the Netherlands, listed on Euronext Amsterdam and the Tel-Aviv Stock Exchange. Kardan focuses on emerging markets mostly within Central and Eastern Europe and China and is primarily active in three sectors: real estate, financial services and infrastructure. Kardan has a consistent track record of creating long-term shareholder value through active management of investments in the group companies and by leveraging on its business experience, financial resources and local and international network.

TBIF Financial Services BV is a Netherlands-based subsidiary of Kardan NV engaged in banking, consumer finance, leasing and asset management. TBIF is a leading provider of financial services and an active, hands-on investor operating in Bulgaria, Romania, Russia, Slovakia and Ukraine with a tailor-made approach to each country and synergy among the group companies.

Mr. Sergey Maksimov is a local entrepreneur and the main shareholder of the Bank since 1995. Having obtained over 15 years of experience in financial business he possesses excellent local market knowledge and proven track record. His other businesses include port management, pharmaceuticals development and distribution, retail trading, insurance, and residential construction.