>>> Yandex - Addresses market rumors; Co-founder has no intention to sell his st

Addresses market rumors; Co-founder has no intention to sell his stake in company

Acknowledges recent media speculation about potential changes to our capital structure. The Company regularly receives various offers and expressions of interest from third parties, but it is the Company’s policy not to comment on market rumors.In the normal course of business, the Board of Directors and its relevant committees periodically consider questions relating to the optimal capital structure of our Company. The Board is committed to good corporate governance and, in the exercise of its fiduciary duties, evaluates any potential steps with a view to protecting the long-term interests of the Company and all of its shareholders and stakeholders. It should also be noted that any corporate actions affecting the rights of holders of any class of sharesare subject to robust governance policies, which include not only Board approval, but also the approval of holders of 75% of the Company’s Class A shares.