Sberbank - Annual Report 2010 - Dialogue with Minority Shareholders

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# Dialogue with Minority Shareholders

We pay particular attention to maintaining an open and constructive dialogue with minority shareholders and protecting their rights and interests. In order to effectively address these objectives, while at the same time improving the overall level of the Bank’s corporate governance and investment attractiveness, we created a dedicated Minority Shareholder Committee.

In 2010, to further improve the quality of the Bank’s minority shareholder relations, the Committee launched its website, which hosts a forum; two call centres were established in Moscow and Omsk specifically to serve shareholders. In addition, the mailing of materials for the General Shareholders’ Meeting was accompanied by a large-scale survey of minority shareholders aimed at discovering what concerned them most.

In addition to monthly meetings in Moscow, the Committee works actively in the regions of Russia. In 2010, six on-site meetings were held at regional banks. With the help of video conferencing equipment, over 1,000 minority shareholders were able to take part in the meetings.

In 2011, the Committee plans to further promote effective shareholder relations by means of regular meetings in Moscow and the regions and by inviting independent members of the Supervisory Board to meetings where possible. We will continue to engage with senior management on Sberbank’s day-to-day operations.

ANTON DANILOV-DANILYAN, Chairman of Sberbank’s
Minority Shareholders’ Committee

The Committee’s objectives include the consideration and review of minority shareholders’ suggestions regarding improvements to the corporate governance system and services offered to customers, and the presentation of these suggestions to the Bank’s management bodies. The Committee also aims to communicate and explain the Bank’s policy and development strategy to minority shareholders.

#### Issues of minority shareholders' intrest, %

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The Committee is chaired by Anton Danilov-Danilyan, a minority shareholder and former member of Sberbank’s Supervisory Board. The Committee is comprised of six minority shareholders selected for their extensive experience and strong skills.

An important channel for communicating with minority shareholders is the Committee’s website (www.sber-minor.ru), launched in March 2010. The website contains information on the Committee, answers to frequently asked questions and a range of other materials, including Committee reports, the minutes of its meetings, news, share prices and analysts’ opinions on the Bank’s key performance indicators. Minority shareholders are able to discuss topics of interest on the website’s forum, which is moderated by Committee members. In addition, they can ask their questions via two dedicated call centres (in Moscow and Omsk) created in spring 2010 on the basis of the Bank’s registrar. The call centres aim to streamline shareholder relations, while ensuring an individual approach to each shareholder.

In order to gain a better understanding of the expectations of individual minority shareholders and to take these expectations into account, we carried out a large-scale survey in summer 2010. The results of the survey are available on the Committee’s website. The results identified which issues are most important for minority shareholders and also helped us to compile a list of shareholders wishing to receive information from the Committee on a regular basis.

## Meeting Between the Minority Shareholders’ Committee and Sberbank Inority Shareholders at the Uralsky Regional Bank

In October 2010, the eighth on-site meeting of the Bank’s Minority Shareholders’ Committee was held at the Head Office of the Uralsky Regional Bank in Yekaterinburg. The use of video conferencing technology allowed for the simultaneous participation of more than 400 minority shareholders from 58 branches of Sberbank based in all four regions of operation of the Uralsky Bank’s operation – the Sverdlovsk, Kurgan and Chelyabinsk Regions and the Republic of Bashkortostan. The meeting was led by Anton Danilov-Danilyan, the Committee’s Chairman.

Herman Gref, Sberbank CEO and Chairman of the Management Board, took part in the meeting, presenting the Bank’s strategic development plans to shareholders and answering their questions. Two deputy chairpersons of the Management Board, Bella Zlatkis and Anton Karamzin, took part in the meeting by video conference, also answering shareholders’ questions.

The questions asked by shareholders dealt mainly with various aspects of the Bank’s development strategy, the issuing of new shares, the dividend policy, investment and charitable activities and the development of brokerage services.

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