Aeroflot confirms National Corporate Governance Rating of 7++

15 September 2021

Moscow, 15 September 2021 – Aeroflot has confirmed its National Corporate Governance Rating of 7++. The rating was awarded by the Russian Institute of Directors (RID), an independent auditor, based on its annual monitoring of the Company, and confirms a high quality of the airline’s corporate governance.

Since 2019, Aeroflot has retained its Rating of 7++ representing Advanced Corporate Management Practices according to National Corporate Governance Rating scale.

The rating serves as confirmation that Russia’s flag carrier complies with Russian corporate governance legislation and that it follows the recommendations of the Russian corporate governance code. Aeroflot is characterized by relatively low corporate governance risks for its shareholders.

The RID experts highlighted a number of measures adopted by Aeroflot that helped the Company to maintain its National Corporate Governance Rating amid the challenging period of the pandemic:

• Appointment of new membership of the Board of Directors’ Audit Committee and the Personnel & Remuneration Committee exclusively comprised of independent directors, which fully complies with recommendations of the Russian corporate governance code.
• Introduction in PJSC Aeroflot’s 2020 Annual Report of GRI Compliance Table and detailed disclosure of External Auditor Remuneration structure.
• The airline’s successful completion of the 2020 supervisory audit of integrated management system and confirmation of its compliance to ISO 9001:2015 Quality Management System and ISO 14001:2015 Environmental Management System standards.

According to the analysts, Aeroflot is continuously working to improve corporate governance and aims to introduce best cоrporate governance practices.