This document discusses the Russian Direct Investment Fund (RDIF), a $10 billion fund established by Russia to attract foreign direct investment. It provides an overview of RDIF's activities and partnerships. Key points include: - RDIF has invested over $420 billion in the Russian economy, attracting over $25 billion in foreign capital. - RDIF leads initiatives to promote investment in Russia, including hosting forums and meetings between investors and government officials. - RDIF has established numerous co-investment funds and platforms with foreign partners from countries like China, Japan, Italy, and the UAE to jointly invest in Russia.

1. WITH RUSSIAN DIRECT INVESTMENT FUND

2. “I would like to emphasize that
the long-term goals for the
development of the country remain
unchanged. Russia maintains
macroeconomic stability, and
we consider this one of our
achievements.”
“To revitalize the economy, we
intend to utilize our own financial
resources and channels and step up
cooperation with foreign investors
and banks. The work of the Russian
Direct Investment Fund shows that
major financial institutions have not
lost confidence in Russia, with joint
investment projects and platforms
attracting around $15 billion.”
VLADIMIR PUTIN,
PRESIDENT OF RUSSIA
“The main macroeconomic
indicators – national debt and
the budget deficit – are stable.
Moreover, we have been able to
maintain a very significant level of
international reserves.”
“The Russian Direct Investment
Fund shares with investors not only
the profits but also the risks… The
majority of our foreign colleagues
take a positive view on the creation
of RDIF as a reliable partner, an
anchor investor.”
DMITRY MEDVEDEV,
PRIME MINISTER OF RUSSIA

3. INVEST IN RUSSIA INVEST IN RUSSIA4 5
WHY INVEST IN RUSSIA?
www.rdif.ru
GROWTH OF MODERN RUSSIA IN NUMBERS
Russia is the world’s 6th largest economy by GDP (PPP).
The Russian economy is expected to grow to $4 trillion in 2020.
Russia has one of the largest domestic markets in the world,ranking 7th among 144
countries.
Russia has one of the lowest levels of public debt of any major economy .
Russia’s middle class tripled in the last 5 years.
GDP per capita (PPP) is the largest among BRICS countries.
Nominal GDP per capita increased compared to that of the United States from 1/20
in 2000 to more than 1/4 in 2014.
Low unemployment rate of 5.2%.
* Actual 2014 or expected where actual not available
Sources: IMF, Rosstat, UNCTAD, World Economic Forum Global Competitiveness Report
* Actual 2014 or expected where actual not available
Sources: IMF, Cеntral Bank of Russia, Russian Federal Treasury, Rosstat, Moscow Exchange
1999 2014*
GDP per capita, PPP $ 9,258 24,806
Nominal GDP per capita, $ 1,334 12,925
Federal budget expenditures, $ bn 27 384
International reserves of Russia, $ bn 12 385
Average nominal monthly wage, $ 61 843
Assets of Russian Banking System, $ bn 59 1,381
Capitalization of Russian stock market, $ bn 40 406
Public debt, % of GDP 99.0% 17.9%
Inflation 36.5% 11.4%
Unemployment 13.0% 5.2%

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GROWTH OF MODERN RUSSIA
IN NUMBERS
GROWTH OF MODERN RUSSIA
IN NUMBERS
RUSSIA’S GDP PER CAPITA ALMOST TRIPLED SINCE 1999 TOTAL VALUE OF ASSETS OF RUSSIAN BANKING SYSTEM ROSE OVER 20 TIMES
INTERNATIONAL RESERVES OF RUSSIA INCREASED MORE THAN 30 TIMES CAPITALIZATION OF THE RUSSIAN STOCK MARKET GREW OVER 10 TIMES
* Actual 2014 or expected where actual not available
Sources: IMF, Cеntral Bank of Russia
* Actual 2014 or expected where actual not available
Sources: Cеntral Bank of Russia, Moscow Exchange
1999 $9,258
1999 $12bn
2014 $24,806
2014 $385bn
1999 $59bn
2014 $1,381bn
1999 $40bn
2014 $406bn

5. INVEST IN RUSSIA INVEST IN RUSSIA
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The Russian Direct Investment Fund is a $10 billion fund established to make equity
investments primarily in the Russian economy.
RDIF was created in 2011 under the leadership of the President and Prime Minister
of Russia to co-invest alongside top global investors, acting as a catalyst for direct
investment in Russia.
RDIF has invested and committed for this purpose over RUB 420 billion, of which
RDIF alone invested RUB 55 billion and over RUB 365 billion came from co-investors,
partners and banks.
RDIF also attracted over $25 billion of foreign capital into the Russian economy
through long-term strategic partnerships.
ABOUT RDIF
Alexei V. Ulyukaev
Minister of Economic
Development of the
Russian Federation
Elvira S. Nabiullina
Chairperson of the
Bank of Russia
Andrey R. Belousov
Aide to the President
of the Russian Federation
Vladimir A. Dmitriev
Chairman
Vnesheconombank
Kirill A. Dmitriev
CEO
Russian Direct
Investment Fund
Chief of Staff of the
Executive Office of the President
of the Russian Federation
Anton G. Siluanov
Minister of Finance
of the Russian Federation
Laurent Vigier
Chairman and CEO
CDC International Capital
Sergei B. Ivanov
Dominique Strauss-Kahn
Managing Director
Parnasse SARL
SUPERVISORY BOARD

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RDIF led B20 “Investments and infrastructure”
taskforce in 2013, the year of Russian G20 and
B20 Presidency. As Turkey has taken over the G20
Presidency in 2015, Kirill Dmitriev, the CEO of RDIF
has again been asked to become the Co-Chair of
B20 Investments and Infrastructure Taskforce.
RDIF is also in active discussion with a range of
governmental organizations in Russia on measures to
facilitate investment in infrastructure.
RDIF has launched the Centre to attract foreign
investment into the Russian regions. The Centre was
created to gather information on doing business
in Russia, as well as the specific investment
opportunities available across the regions of Russia.
Each year as part of the St. Petersburg International
Economic Forum RDIF organizes a panel discussion
dedicated to investment opportunities in Russia, as
well as a traditional meeting between the President
of Russia Vladimir Putin and the leaders of the global
investment community. RDIF is also a significant
contributor to the World Economic Forum in Davos
actively participating in key sessions and hosting
own events focused on Russia.
RDIF actively participated in the creation of the
Investment Council, an advisory body under
the Chairman of the State Duma of the Russian
Federation to improve the existing rules and
regulations to stimulate the investment demand and
supply.
RDIF is representing Russia at the International Forum
of Sovereign Wealth Funds (IFSWF) – an organisation
that brings together the world’s leading sovereign
wealth funds and government-run pension funds.
The members cooperate on issues concerning global
financial stability, prospects and potential challenges
of managing state assets, and possible steps to
increase business transparency and to adhere to the
Santiago Principles.
RDIF’s CEO has been appointed to represent Russia
at the BRICS Business Council launched to foster
multilateral investment among BRICS countries.
RDIF’s CEO represents Russia at the APEC Business
Advisory Council (ABAC). Set up to drive global growth
and stability of APEC economies.
CEO of RDIF has been appointed Chairman of the
Consultative Committee of Entrepreneurs of the
Intergovernmental Russia-China Commission. On
the Chinese side, this post was taken by Chairman
and CEO of China Investment Corporation (CIC), the
company which partnered with RDIF on the creation
of Russia-China Investment Fund (RCIF).
RDIF cofounded Co-investment Roundtable of
Sovereign and Pension Funds (CROSAPF). The
organisation brings together 31 fund with around
$7 trillion under management from 17 countries.
Co-investment Roundtable Of
Sovereign And Pension Funds
RDIF INITIATIVES RDIF INITIATIVES

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RDIF invested in the Moscow Exchange prior to its IPO and brought a number of investors including China
Investment Corporation (CIC), BlackRock, the European Bank of Reconstruction and Development (EBRD),
Cartesian Capital and KIA. Later the fund acted as the anchor investor in the IPO of the Moscow Exchange
and in placement of the Central Bank of Russia block attracting in both transactions leading international
co-investors from the US, China, Singapore, UAE, Qatar, UK and Germany.
Consortium of RDIF, Macquarie Renaissance Infrastructure Fund (MRIF), AGC Equity Partners and Xenon Capital
Partners acquired a blocking stake in Enel Russia, one of the leading power generating companies in Russia.
This was the largest private equity deal in the energy sector. Investment by AGC in this deal was the largest
ever investment in Russia from a Middle Eastern investor.
Russia-China Investment Fund (RCIF), the joint fund of RDIF and China Investment Corporation (CIC), made
its first investment in RFP Group (Russian Forest Products), Russia’s second largest wood processing company.
RDIF acted as the anchor investor in the IPO of the MD Medical Group (MDMG) bringing BlackRock, Russia
Partners and other qualified institutions as co-investors. MDMG is the No 1 private network of prenatal clinics
and hospitals in Russia.
Consortium of RDIF, Baring Vostok Private Equity and UFG Private Equity together with media entrepreneur
Paul Heth acquired a controlling stake in Karo Film, one of Russia’s leading and fast developing cinema chains.
GROUP OF COMPANIES
PORTFOLIO COMPANIES PORTFOLIO COMPANIES
RDIF and Baring Vostok Private Equity Fund V invested in Tigers Realm Coal Limited (TIG), an Australian listed
company with coking coal assets in the Chukotka province in Russia’s Far East. The funds will be used by TIG to
further develop and continue exploration of deposits in Chukotka.
A consortium comprised of RDIF, One Equity Partners and Titan International Inc., leading international
strategic player, jointly invested in Voltyre-Prom, the largest producer of agricultural and industrial tyres in
Russia & CIS.
RDIF led the consortium of investors including the European Bank for Reconstruction and Development (EBRD)
and CapMan, one of the leading Nordic alternative asset managers. The consortium invested in growth of
MAYKOR, the leading player in the Russian IT and business processes outsourcing market.
RDIF together with Deutsche Bank and the leading investors from the Middle East made a joint investment
in one of Russia’s largest telecommunications companies, Rostelecom. The investment will be used to further
develop and strengthen the company’s market position.

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RDIF has attracted a number of leading foreign investors from North America, Middle East, Western and
Northern Europe and Southeast Asia into a consortium to invest in the IPO of ALROSA, a Russian diamond
company. ALROSA is the largest diamond producer in the world by output in carats.
RDIF and the European Bank for Reconstruction and Development (EBRD) made a joint investment in Cotton
Way, Russia’s leading commercial laundry and textile management company.
PORTFOLIO COMPANIES PORTFOLIO COMPANIES
Funds from RDIF, the Russian National Wealth Fund (NWF) and private investors will be used to finance
projects aimed at eliminating digital inequality across Russia’s regions in partnership with Rostelecom. NWF
funds were granted to RDIF to finance infrastructure projects.
RDIF together with international investors and Rosseti (JSC Russian Grids) will invest in the project aimed at
introducing “smart grids” across Russia’s regions using funding granted by the Russian National Wealth Fund
(NWF). The construction of “smart grids” will improve the energy efficiency of Russian Grids’ subsidiary and
dependent companies. Kaliningrad, Yaroslavl and Tula have been chosen as pilot regions for the project.
RDIF acted as a lead anchor investor in the SPO of Lenta Ltd., one of the largest and most successful retail
chains in Russia. RDIF was joined by its co-investors and partners from the Middle East, Asia and Europe
alongside other investors to support growth and development of Lenta in Russia.
RDIF and Russia-China Investment Fund (RCIF) participated in equity offering of PJSC Magnit. Magnit is the
Russia’s largest retailer.
The consortium comprising RDIF, Changi Airports International (CAI), a wholly-owned subsidiary of the world’s
leading airport operator Changi Airport Group, and Basic Element, one of Russia’s diversified industrial groups,
has been announced as the winner of the tender to acquire shares in Vladivostok International Airport in
Russia’s Far East. Vladivostok International Airport is strategically important for the development of the air
transportation system in the region due to its geographical location – the crossing of two air routes between
the Russian Far East and the Asia Pacific region.
Russia-China Investment Fund (RCIF), the joint fund od RDIF and China Investment Corporation (CIC),
announced an investment to construct the first ever railway bridge over the Amur river on the border between
Russia and China.The new bridge will have a capacity of up to 21 million tonnes per year and will connect the
Jewish Autonomous Region with the Chinese province of Heilongjiang.

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Fondo Strategico Italiano
Russia-China Investment Fund
Russian-Korean Investment Platform
Russian-Japanese Investment Platform
Co-investment Fund with Mubadala
Partnership with Abu Dhabi Department of Finance
Partnership with State Bank of India
Automatic Co-investment Mechanism
Russia-France Investment Fund
Russian-Italian Investment Platform
MoU with Mumtalakat to promote investment
cooperation
Partnership with Egyptian Ministry of
Investment
Co-investment Fund with Qatar Holding
Qatar Holding
RDIF PARTNERSHIPS AT A GLANCE
Ministry of Investment
Partnership with the Public Investment Fund
(PIF)
Partnership with the Saudi Arabian General
Investment Authority (SAGIA)

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RDIF PARTNERSHIPS RDIF PARTNERSHIPS
Together with China Investment Corporation (CIC) RDIF
created a $2 billion Russia-China Investment Fund, 70%
of which will be invested in Russia. Up to $2 billion is
expected to be raised from international investors.
RDIF, Vnesheconombank (VEB) and Japan Bank for
International Cooperation (JBIC) have signed a
joint memorandum creating the Russian-Japanese
Investment Platform. RDIF and JBIC will each invest
$500 million. VEB will potentially provide financing
to fund projects and design new financial products to
support the platform. This platform will drive economic
cooperation, trade and investment between Russia and
Japan.
RDIF and Korea Investment Corporation (KIC) have
signed a memorandum to form the Russian-Korean
Investment Platform. The investment platform will
focus on cross-border investments,which fulfill Russian-
Korean strategic interests.
RDIF and Fondo Strategico Italiano (FSI) agreed to
establish a €1 billion Russian-Italian investment
platform. The two financial institutions will invest in
companies and projects promoting the development of
foreign trade and FDI between Italy and Russia.
Fondo Strategico Italiano
RDIF and Mubadala Development Company (Mubadala),
the Abu Dhabi-based investment and development
company, agreed to launch a $2 billion co-investment
fund to pursue opportunities in Russia. The fund will
predominantly focus on long-term investment projects
across a range of industry sectors.
RDIF and State Bank of India (SBI) have created a new
co-investment consortium in order to expand bilateral
economic cooperation. The partnership is set up to
develop infrastructure to facilitate access to long-term
capital in Russia and India, and to actively promote
mutual investments between the two countries.
RDIF launched an automatic co-investment mechanism,
with the first $500 million from Kuwait Investment
Authority. This vehicle allows international investors to
automatically participate in every RDIF transaction on a
pro-rata basis.
RDIF and Caisse des Dépôts International (CDC
International) have launched the Russia-France
Investment Fund. RFIF will seek attractive investments
across a broad range of sectors and asset classes,
including equity and debt securities, infrastructure
and real estate in Russia and France with strong focus
on opportunities promoting economic co-operation
between the two countries.
RDIF and Qatar Holding, the Qatar sovereign wealth
fund, announced the launch of co-investment fund. The
fund will predominantly focus on long-term investment
opportunities across a range of industry sectors, mainly in
Russia.
RDIF and SaudiArabia’s sovereign wealth fund,the Public
Investment Fund (PIF), have announced a partnership to
invest in attractive projects in Russia, in areas including
infrastructure and agriculture. The parties are looking
at projects that will strengthen trade, economic and
investment co-operation between the two countries.
Under the agreement, PIF will invest $10bn in the
partnership. RDIF also signed a partnership agreement
with another Saudi Arabian sovereign wealth fund, the
Saudi Arabian General Investment Authority (SAGIA).
The parties will identify attractive joint investment
opportunities.
Qatar Holding
RDIF and Mumtalakat,the investment arm of the Kingdom
of Bahrain, signed an MoU to promote investment
cooperation between Russia and Bahrain.The partnership
promotes the exchange of information and expertise in the
sectors and areas of common interest and identification of
investment opportunities in Russia and Bahrain.
Abu Dhabi Department of Finance committed $5
billion managed by Mubadala Development Company
(Mubadala) to invest in Russian infrastructure projects.

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RDIF PARTNERSHIPS RDIF PARTNERSHIPS
RDIF and Tata Power, part of the Tata Group and one of
India’s leading electricity generation companies, today
signed a Memorandum of Understanding to develop
investment opportunities in the energy sector.
RDIF and CITIC Merchant, the merchant banking arm
of leading Chinese financial group CITIC, have agreed
to set up a Russia-China Investment Bank. The signing
ceremony was held as part of the visit to Russia of
the Chinese President Xi Jinping. The institution will
provide a wide range of investment banking services
to strengthen economic cooperation between Russia
and China, focusing on attracting Chinese capital into
Russian companies.
RDIF and the IDFC Ltd., India’s leading financial
services company, today have agreed to jointly invest in
infrastructure projects to boost economic cooperation
between Russia and India. Each party will provide up
to $500 million.
RDIF, the Russia-China Investment Fund (RCIF) and the
People’s Government of Heilongjiang province, have
agreed to increase cooperation in agriculture, including
farming, land management, customs procedures, food
logistics and sales. The parties, attracting leading
international investors, will launch a specialist $2bln
fund targeting investment in agricultural projects in
Russia and China. Under the agreement they will also
consider creating an experimental agricultural free
trade zone between the Heilongjiang province and the
Amur Region. This free trade zone will use the direct
exchange rate between the rouble and the yuan, and
will support the implementation of incentives for
Russian and Chinese high-tech agricultural businesses.
A consortium of investors comprising the Russia-China
Investment Fund (RCIF), Sukhoi Civil Aircraft Company,
United Aircraft Corporation, the Xixian New Area
Management Committee of Shaanxi province (Xixian)
and New Century International Leasing, have agreed
to establish a leasing platform to promote the Sukhoi
Superjet 100 (SSJ100) passenger aircraft to Chinese
and other Asian markets. According to the agreement,
the consortium plans to launch a leasing platform and
create the necessary facilities in Xixian for its efficient
operation. It is estimated that up to 100 aircraft will be
delivered to the Chinese and South-East Asian markets
through the leasing platform over the next three years.
RDIF and Renaissance Holding, one of the leading
construction, development and investment companies,
have agreed to jointly invest into projects across Russia’s
regions.The two parties will invest in the healthcare and
infrastructure sectors, using public private partnership
(PPP) models,and also the construction of new shopping
centers in the regions.
RDIF, the Russia-China Investment Fund (RCIF) and
one of China’s leading banks, China Construction
Bank Corporation (CCB), have agreed to enter into a
partnership which will facilitate debt financing of
creditworthy Russian companies by Chinese banks.
Under the agreement the parties will establish a close
working relationship to facilitate cooperation between
high-quality Russian issuers and leading Chinese credit
institutions. Investment from RDIF and RCIF will allow
Chinese banks to increase the limits on loans and
improve access to currency funding for both Russian and
Chinese creditworthy companies.
RDIF and the Egyptian Ministry of Investment have
agreed to bolster investment cooperation between the
two countries. Within this agreement RDIF will support
the creation of an Egyptian investment fund.
Ministry of Investment

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13. Capital City, South Tower
8 Presnenskaya nab., building 1
Moscow, Russia, 123317
Telephone: +7 (495) 644-34-14
Fax: +7 (495) 644-34-13
IR@rdif.ru
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