23.03.2015 Moody’s Confirms NCSP’s Ba3 Rating

Novorossiysk Commercial Sea Port Group (NCSP Group or the Group) (LSE: NCSP, Moscow Exchange: NMTP) announces today that Moody’s rating agency confirmed NCSP’s current Ba3 rating.

According to Moody’s release dated 23 March 2015:

- NCSP’s corporate family rating on global rating scale was confirmed as Ba3 with negative outlook;

- probability of default rating was confirmed as Ba3-PD with negative outlook;

- NCSP’s national scale rating was confirmed as Aa3.ru with negative outlook.

Commenting on the event CEO of PJSC NCSP Sultan Batov said: «In our opinion, confirmation of NCSP’s corporate rating in view of the recent downgrade of Russia’s sovereign rating is a positive signal, that speaks of a prudent judgment, which reflects on the fundamental strengths of infrastructure business and NCSP’s diversified business model, and its significance in the industry and Russian economy at large».

The rating agency’s release also says, that «Moody’s expects that NCSP will continue to generate positive free cash flow and maintain financial metrics commensurate with the Ba3 rating category, including interest and debt cover by funds from operations (FFO)».

Moody’s also notes, that this concludes the review for downgrade of NCSP’s ratings, which was part of the review for downgrade of ratings of a number of Russian non-financial corporates launched by Moody’s in December 2014.

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