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Notice of Notes Redemption at the option of the Bank

JSC ForteBank (formerly JSC Alliance Bank) (the “Bank”)

U.S.$236,570,000 11.75 per cent. Notes due 2024 (the “Notes”)

(ISIN (Unrestricted Notes): XS1153772725; ISIN (Restricted Notes): XS1154028200)

Notice of Redemption at the option of the Bank

Reference is made to the U.S.$236,570,000 11.75 per cent. Notes due 2024 (the “Notes”) issued by JSC ForteBank (formerly known as JSC Alliance Bank) (the “Bank”) pursuant to a Trust Deed dated 15 December 2014 between the Bank and BNY Mellon Corporate Trustee Services Limited (the “Trustee”), (the “Trust Deed”).

NOTICE IS HEREBY GIVEN that:

The Bank intends to exercise its right to redeem the Notes at the option of the Bank in whole at 108 per cent. of the principal amount pursuant to the terms and conditions set out in clause 8(c) Schedule 4 of the Trust Deed, together with interest accrued but unpaid on the principal amount redeemed to, but excluding, the date fixed for redemption (the “Early Redemption Amount”). The Early Redemption Amount shall be U.S.$1.08 per U.S.$1.00 in outstanding principal amount of Notes.

The Bank will exercise its right to redeem the Notes on the Second Interest Payment Date (being the 15th of December 2019). Given the Second Interest Payment Date does not fall on a business day (as defined in clause 7(f) of Schedule 4 of the Trust Deed), the redemption will occur on the 16th of December 2019 (for value date 15th of December 2019, in accordance with clause 7(f) of Schedule 4 of the Trust Deed). Such redeemed Notes will be cancelled and shall not be reissued or resold. This Notice is irrevocable. Each prepayment in respect of the Notes will be made to the Person shown as the holder in the Register at the close of business (in the place of the Registrar’s specified office) on the day two business days prior to the due date for such payment (the “Record Date”).

Terms used herein but not otherwise defined have the meanings given thereto in the Trust Deed.

For further information, please contact:

ForteBank JSC

Investor Relations

Tel.: +7 (727) 244 09 73

E-mail: IR@fortebank.com