Yandex will issue up to 4.1 million shares for the motivation program

Yandex Board of Directors decided to increase the authorized capital by placing up to 4.1 million ordinary shares by closed subscription in favor of ESOP SPV LLC, which operates the employee motivation program. Total number of outstanding shares will be calculated based on employee statements about the exercise of options. Maximum volume of the placement can be up to 1.04% of the authorized capital.