About the report

The Annual Report of Sovcomflot (PAO Sovcomflot, the Company) for 2020 includes the operating results of PAO Sovcomflot and its subsidiaries, collectively referred to as Sovcomflot Group (SCF Group). It discloses the operational and financial results, and certain aspects of the activity and figures in the field of sustainable development.

The report is prepared in accordance with the requirements of the Regulation on Information Disclosure by Issuers of Issue-Grade Securities approved by Order of the Central Bank of the Russian Federation No. 454-P dated 30 December 2014, by taking into account a model structure of the annual report of a joint-stock company whose shares are in federal ownership, as approved by Russian Government resolution No. 1214 dated 31 December 2010, and also by taking into account the recommendations of the Corporate Governance Code of the Bank of Russia.

The report is based on an analysis of the operational data and figures from the financial statements of PAO Sovcomflot for 2020 prepared in accordance with International Financial Reporting Standards. The industry overview is based on information provided by Clarksons Research Services Limited. Perimeter of the information disclosed in the report coincides with the consolidation perimeter for the purposes of preparing financial statements under IFRS. The report may contain discrepancies in the calculation of shares, percentages, amounts due to rounding of estimates.

The accuracy of information contained in this report is certified by the Auditing Commission of the Company.

The report contains forward-looking statements related to operating, financial, economic and social indicators characterising the Company’s future development. The implementation of plans and intentions depends on the political, economic, social and legal situation in the Russian Federation an around the world. Therefore, the actual results of the Company’s operations in the future may differ from those projected.

On 14 April 2021 the 2020 annual report of PAO Sovcomflot was preliminarily approved by the Company’s Board of Directors (Minutes No. 206 of 14 April 2021) and approved by the Annual General Meeting of Shareholders.

Annual reports of PAO Sovcomflot for the previous years are available on the Company’s website in the Investors section.