EURASIA HSR PROJECT. April 9, 2018 JSC RUSSIAN RAILWAYS

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1 EURASIA HSR PROJECT April 9, 2018 JSC RUSSIAN RAILWAYS

2 MAIN PREMISES PROJECT IMPLEMENTATIONS OF HSR EURASIA EXTENT OF A PASSENGER-AND-FREIGHT HIGH-SPEED RAILWAY CORRIDOR EURASIA WILL MAKE * KM AND WILL ALLOW TO COMBINE THE LARGEST TRANSPORT SYSTEMS OF EUROPE AND CHINA BERLIN BREST WARSAW MINSK NIZHNY NOVGOROD MOSCOW KAZAKHSTAN * Distance Beijing Moscow Berlin including planned to implementation the site Altynkol Brest km long KAZAN EKATERINBURG CHELYABINSK KURGAN GORBUNOVO PETROPAVLOVSK KOKSHETAU ASTANA BALHASH KARAGANDA KAPSHAGAI ALTYNKOL URUMQI HORGOS RUSSIA CHINA BEIJING SHANGHAI Eurasia project The operating HSR networks in Europe and China Expediency of project implementation is caused: The goods growing at trade volumes with high additional cost, sensitive to delivery date Growth of volumes of electronic trading, including between China and the EU Processes of an urbanization and globalization Growth of mobility of the population in the world Success of projects of high-speed railway transport in the Russian Federation, the EU and China 2

3 OVERALL DEMAND POTENTIAL FOR THE EURASIA HIGH-SPEED LINE Eurasia HSR revenue forecast by traffic types in - at the Brest Altynkol section in projected prices, RUB billion +7% Passenger HSR passenger traffic forecast by directions, million passengers CAGR* % % HSR FRT** % +7% HSR freight traffic forecast by directions, million tonnes Freight % % China - EU Russia - China Russia - EU Japan - EU Korea - EU *CAGR Compound Annual Growth Rate **FRT fast regional trains 3

4 POTENTIAL DEMAND FOR THE EURASIA HIGH-SPEED RAIL IN TERMS OF PASSENGER TRAFFIC Total passenger traffic forecast for target directions by transport types, including HSR, million passengers FRT** HSR to Europe HSR in Russia + CIS Other Rail Total FRT** HSR to Europe HSR in Russia + CIS CAGR*, % % 1.8% 0.1% -0.1% 0.2% 1.0% 6.0% 2.0% Rail in Russia excl, HSR -2.2% 2.1% Air Russia - Europe 1.0% 1.0% Air China - Europe 6.5% 2.5% *CAGR Compound Annual Growth Rate ** FRT fast regional trains 4

5 % CAGR*, % % 3.6% 3.5% 3.1% POTENTIAL DEMAND FOR THE EURASIA HIGH-SPEED RAIL IN TERMS OF FREIGHT TRAFFIC THE FREIGHT TRAFFIC IS EXPECTED TO GROW 3,8% PER YEAR ON TARGET DESTINATIONS Containerised freight traffic forecast for target destinations, million tonnes Others HSR The cost to weight ratio of freight by transport types in 2016 for the China EU route, % By product value, billion euros By product weight, million tonnes Maritime transport Rail transport Motor transport Air transport Source: Eurostat 2% 6% 28% 64% 1% 2% 94% 3% % Projected tariff on the Altynkol Brest section *CAGR Compound Annual Growth Rate ** Year average rate 5 Average freight rates for the China EU route in, USD/kg on Beijing Berlin route HSR ** Jan Feb Mar Apr May Jun Cargo weigh, million tonnes (right axis) Jul Aug Sep Oct Nov Average rate, $/kg (left axis) 1.90 Dec

6 THE EURASIA HIGH-SPEED RAIL PROJECT KEY ROLLING STOCK INDICATORS IN THE ABSENCE OF WORLD ANALOGUES, THE HIGH-SPEED FREIGHT ROLLING STOCK WILL BE BASED ON THE HIGH-SPEED PASSENGER ROLLING STOCK HIGH-SPEED TRAIN Basic train set Maximum speed 12 cars up to 350 km/h COST OF FREIGHT AND PASSENGER ROLLING STOCK Approximate cost of one passenger/cargo train without VAT in 2017 prices Approximate cost of passenger/cargo train fleet without VAT in 2017 prices BASIC TECHNICAL SPECIFICATIONS OF RAILWAY TRACKS Cost of capital repairs per 1 km of railway tracks in Russia in 2017 prices Rolling stock planned useful life Cost of rolling stock maintenance and repair service RUB million* RUB million* RUB 4 million/year 30 years 176 RUB/km* * The cost was converted from EUR to RUB at the Russian Central Bank exchange rate as of Q

7 INTERNATIONAL INTERACTION WITHIN THE EURASIA HSR PROJECT THE PROJECT HSR EURASIA WILL BE IMPLEMENTED IN THE TERRITORY OF SIX STATES AND WILL DEMAND THE HIGH LEVEL OF INTERNATIONAL COOPERATION Functional segmentation Control of implementation is exercised of joint venture in which capital all member countries participate The international coordination is provided at the level of intergovernmental agreements Operating activiies are performed by the international and national carriers The main questions connected with the international cooperation Technology Width of a track and dimensions of the rolling stock Systems of power supply STsB systems, communication lines Regulatory Systems of the taxation Requirements to customs procedures Financial and economic Access and financing terms Tariff regulation Country risks Distribution of rates for transit transportations Political Sanctions regimes 7

8 THANK YOU FOR YOUR ATTENTION