<p align="left">MOSCOW and AMSTERDAM, the Netherlands, Feb. 16, 2017 (GLOBE NEWSWIRE) --
                Yandex
                (NASDAQ:YNDX),
                one of Europe's largest internet companies and the leading search
                provider in Russia, today announced its unaudited financial results for
                the fourth quarter and the full year ended December 31, 2016.<br></p>
<h2>Q4 2016 Financial Highlights(1)(2)</h2>
<ul type="disc">
    <li><strong><strong>Revenues </strong></strong>of RUB 22.1 billion ($364.7 million),
                                                   up 22% compared with Q4 2015
    </li>
    <li><strong><strong>Net income</strong></strong> of RUB&nbsp;1.2 billion ($20.0
                                                     million), down 57% compared with Q4
                                                     2015;<strong><strong> net income
                                                                           margin </strong></strong>of
                                                     5.5%
    </li>
    <li><strong><strong>Adjusted net income</strong></strong> of RUB&nbsp;3.2 billion
                                                              ($53.6 million), down 11%
                                                              compared with Q4 2015;
        <strong><strong>adjusted net income margin </strong></strong>of 14.7%
    </li>
    <li><strong><strong>Adjusted EBITDA </strong></strong>of RUB 6.7 billion ($110.5
                                                          million), up 2% compared with
                                                          Q4 2015; <strong><strong>adjusted
                                                                                   EBITDA
                                                                                   margin </strong></strong>of
                                                          30.3%
    </li>
    <li><strong><strong>Cash, cash equivalents, term deposits and short-term investments
                        in debt securities </strong></strong>of RUB 63.0 billion
                                                             ($1,039.1 million) as of
                                                             December 31, 2016
    </li>
</ul>
<h2>FY 2016 Financial Highlights(1)(2)</h2>
<ul type="disc">
    <li><strong><strong>Revenues </strong></strong>of RUB 75.9 billion ($1,251.7
                                                   million), up 27% compared with FY
                                                   2015
    </li>
    <li><strong><strong>Net income</strong></strong> of RUB&nbsp;6.8 billion ($111.8
                                                     million), down 30% compared with FY
                                                     2015;<strong><strong> net income
                                                                           margin </strong></strong>of
                                                     8.9%
    </li>
    <li><strong><strong>Adjusted net income </strong></strong>of RUB&nbsp;14.1 billion
                                                              ($232.7 million), up 16%
                                                              compared with FY
                                                              2015;<strong><strong>
            adjusted net income margin </strong></strong>of 18.6%
    </li>
    <li><strong><strong>Adjusted EBITDA </strong></strong>of RUB 26.1 billion ($430.6
                                                          million), up 25% compared with
                                                          FY 2015;<strong><strong>
            adjusted EBITDA margin </strong></strong>of 34.4%
    </li>
</ul>
<h2>Q4 2016 Operational Highlights</h2>
<ul type="disc">
    <li><strong><strong>Share of Russian search market</strong></strong>, including
                                                                        mobile, averaged
                                                                        55.4% in Q4 2016
                                                                        compared to
                                                                        55.9% in Q3 2016
                                                                        (according to
                                                                        LiveInternet)
    </li>
    <li><strong><strong>Search queries</strong></strong> in Russia grew 3% compared with
                                                         Q4 2015
    </li>
    <li><strong><strong>Paid clicks</strong></strong> on Yandex’s and its partners’
                                                      websites, in aggregate, increased
                                                      12% compared with Q4 2015
    </li>
    <li>Average <strong><strong>cost per click</strong></strong> grew 8% compared with
        Q4 2015
    </li>
    <li><strong><strong>Yandex.Taxi number of rides </strong></strong>grew 401% compared
                                                                      with Q4 2015
    </li>
</ul>
<p>“Yandex delivered 27% revenue growth in 2016, driven by improving macro conditions
   and continued innovation across the technology stack,” said Arkady Volozh, Chief
   Executive Officer of Yandex. “Our deep experience with AI and machine learning is
   enabling us to make significant advancements in advertising technologies and
   continually enhance user experience.”</p>
<p>“We were pleased with the strong growth in Q4, especially given tough comparisons
   with last year,” said Alexander Shulgin, Chief Operating Officer of Yandex.
   “Yandex.Taxi was a real highlight, growing ride volumes in December 2016 by 452%
   year-over-year thanks to investments made in geographic expansion and technological
   infrastructure. Based on the potential we see in Taxi, E-commerce and Classifieds, we
   will continue to invest for growth in 2017.”</p>
<p>The following table provides a summary of our key <strong><strong>consolidated
                                                                     financial
                                                                     results</strong></strong>
   for the three months and twelve months ended December 31, 2015 and 2016:</p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>

    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong><em><strong><em>In RUB millions</em></strong></em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="3">
            <strong><strong>Three months ended
                <br>December&nbsp;31,&nbsp;</strong></strong>
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="3">
            <strong><strong>Twelve months <br>ended
                            December&nbsp;31,&nbsp;</strong></strong>
        </td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <strong><em><strong><em>&nbsp;</em></strong></em></strong></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2015</strong></strong></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <em><em>Change</em></em><em><em><br></em></em></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2015</strong></strong></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <em><em>Change</em></em><em><em><br></em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Revenues
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            18,094
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            22,119
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>22%</em></em></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            59,792
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            75,925
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>27%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Ex-TAC revenues<em><sup><em>2</em></sup></em></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            14,374
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            17,845
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>24%</em></em></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            47,051
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            60,975
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>30%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Income from operations
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            2,728
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            3,337
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>22%</em></em></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            9,593
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            12,847
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>34%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Adjusted EBITDA<sup>2</sup></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            6,560
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            6,701
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>2%</em></em></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            20,969
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            26,121
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>25%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Net income
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            2,851
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            1,213
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-57%</em></em></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            9,679
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            6,783
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-30%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Adjusted net income<sup>2</sup></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            3,632
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            3,249
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-11%</em></em></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            12,179
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            14,116
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>16%</em></em></td>
    </tr>
</tbody>
</table>
<p>(1) Pursuant to SEC rules regarding convenience translations, Russian ruble (RUB)
   amounts have been translated into U.S. dollars at a rate of RUB 60.6569 to $1.00, the
   official exchange rate quoted as of December 31, 2016 by the Central Bank of the
   Russian Federation.<br></p>
<p>(2) The following measures presented in this release are “non-GAAP financial
   measures”: ex-TAC revenues; adjusted EBITDA; adjusted EBITDA margin; adjusted ex-TAC
   EBITDA margin; adjusted net income; adjusted net income margin and adjusted ex-TAC
   net income margin. Please see the section headed “Use of Non-GAAP Financial Measures”
   below for a discussion of how we define these measures, as well as reconciliations at
   the end of this release of each of these measures to the most directly comparable
   U.S. GAAP measures.<br></p>
<p><strong><strong>Consolidated revenues breakdown</strong></strong></p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>

    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong><em><strong><em>In RUB millions</em></strong></em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="3">
            <strong><strong>Three months ended
                <br>December&nbsp;31,&nbsp;</strong></strong>
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="3">
            <strong><strong>Twelve months ended
                <br>December&nbsp;31,&nbsp;</strong></strong>
        </td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <strong><em><strong><em>&nbsp;</em></strong></em></strong></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2015</strong></strong></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <em><em>Change</em></em><em><em><br></em></em></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2015</strong></strong></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="2">
            <em>Change<em><br></em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Online advertising revenues:
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td
                class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin gnw_label_i25">
            <em><em>Yandex websites</em></em></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            12,883
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            15,487
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>20%</em></em></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            43,099
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            52,888
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>23%</em></em></td>
    </tr>
    <tr>
        <td
                class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom gnw_label_i25 hugin">
            <em><em>Advertising network</em></em></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            4,635
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            5,518
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>19%</em></em></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            15,111
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            19,691
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>30%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Total online advertising revenues
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            17,518
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            21,005
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>20%</em></em></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            58,210
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            72,579
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>25%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Other
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            576
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            1,114
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>93%</em></em></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            1,582
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            3,346
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>112%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Total revenues
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            18,094
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            22,119
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>22%</em></em></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            59,792
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            75,925
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>27%</em></em></td>
    </tr>

</tbody>
</table>
<p><strong><strong>Online advertising revenues</strong></strong> grew 20% in Q4 2016
                                                                 compared with Q4 2015
                                                                 and continued to
                                                                 determine overall
                                                                 top-line performance,
                                                                 contributing 95% of
                                                                 total revenues. Online
                                                                 advertising revenues
                                                                 include revenues
                                                                 derived from text-based
                                                                 and display advertising
                                                                 on Yandex websites and
                                                                 in our ad network.</p>
<p><strong><strong>Online advertising revenues from Yandex websites</strong></strong>
    increased 20% in Q4 2016 compared with Q4 2015 and accounted for 70% of total
    revenues.</p>
<p><strong><strong>Online advertising revenues from our ad network</strong></strong>
    increased 19% in Q4 2016 compared with Q4 2015 and contributed 25% of total
    revenues, 70 basis points lower than in Q4 2015.</p>
<p><strong><strong>Other revenues</strong></strong> grew 93% in Q4 2016 compared with Q4
                                                    2015, and were mainly driven by
                                                    growth in Yandex.Taxi revenues.</p>
<p><strong><strong>Segment revenues</strong></strong></p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>

    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong><em><strong><em>In RUB millions</em></strong></em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="3">
            <strong><strong>Three months ended
                <br>December&nbsp;31,&nbsp;</strong></strong>
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="3">
            <strong><strong>Twelve months ended
                <br>December&nbsp;31,&nbsp;</strong></strong>
        </td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <strong><em><strong><em>&nbsp;</em></strong></em></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2015</strong></strong></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <em><em>Change</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2015</strong></strong></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <em><em>Change</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Revenues:
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong></td>
    </tr>
    <tr>
        <td class="gnw_label_i25 gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Search and Portal
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            16,673
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            20,095
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>21%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            55,905
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            69,256
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>24%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_label_i25 gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            E-commerce
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,172
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,406
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>20%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            3,400
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            4,718
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>39%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_label_i25 gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Taxi
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            395
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            753
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>91%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            984
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            2,313
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>135%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_label_i25 gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Classifieds
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            261
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            398
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>52%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            894
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,304
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>46%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_label_i25 gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Experiments
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            142
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            282
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>99%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            441
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            830
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>88%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_label_i25 gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Eliminations
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (549)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (815)
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>48%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (1,832)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (2,496)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>36%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Total revenues
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            18,094
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            22,119
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>22%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            59,792
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            75,925
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>27%</em></em></td>
    </tr>

</tbody>
</table>
<p><em><em>Search and Portal segment includes all our services offered in Russia,
           Ukraine, Belarus and Kazakhstan, other than those described
           below;</em></em><br><em><em>E-commerce segment includes our Yandex.Market
                                       service;</em></em><br><em><em>Taxi segment
                                                                     includes our
                                                                     Yandex.Taxi
                                                                     service;</em></em><br><em><em>Classifieds
                                                                                                   segment
                                                                                                   includes
                                                                                                   Auto.ru,
                                                                                                   Yandex.Realty,
                                                                                                   Yandex.Jobs
                                                                                                   and
                                                                                                   Yandex.Travel;</em></em><br><em><em>Experiments
                                                                                                                                       segment
                                                                                                                                       includes
                                                                                                                                       Media
                                                                                                                                       Services
                                                                                                                                       (including
                                                                                                                                       KinoPoisk,
                                                                                                                                       Yandex.Music,
                                                                                                                                       Yandex.Radio,
                                                                                                                                       Yandex.Tickets,
                                                                                                                                       Yandex.Afisha
                                                                                                                                       and
                                                                                                                                       Yandex.TV
                                                                                                                                       program),
                                                                                                                                       Yandex
                                                                                                                                       Data
                                                                                                                                       Factory,
                                                                                                                                       Discovery
                                                                                                                                       services
                                                                                                                                       (including
                                                                                                                                       Yandex
                                                                                                                                       Zen
                                                                                                                                       and
                                                                                                                                       Yandex
                                                                                                                                       Launcher
                                                                                                                                       international
                                                                                                                                       revenues)
                                                                                                                                       and
                                                                                                                                       Search
                                                                                                                                       and
                                                                                                                                       Portal
                                                                                                                                       in
                                                                                                                                       Turkey.</em></em><br><em><em>Eliminations
                                                                                                                                                                    represent
                                                                                                                                                                    the
                                                                                                                                                                    elimination
                                                                                                                                                                    of
                                                                                                                                                                    transaction
                                                                                                                                                                    results
                                                                                                                                                                    between
                                                                                                                                                                    the
                                                                                                                                                                    reportable
                                                                                                                                                                    segments,
                                                                                                                                                                    primarily
                                                                                                                                                                    related
                                                                                                                                                                    to
                                                                                                                                                                    advertising.</em></em>
</p>
<p><strong><strong>Consolidated Operating Costs and Expenses</strong></strong></p>
<p>Yandex’s operating costs and expenses consist of cost of revenues, product
   development expenses, sales, general and administrative expenses (SG&amp;A),
   depreciation and amortization expenses (D&amp;A) and goodwill impairment. Apart from
   D&amp;A and goodwill impairment, each of the above expense categories includes
   personnel-related costs and expenses, relevant office space rental, and related
   share-based compensation expense. Increases across all cost categories reflect
   investments in overall growth. In Q4 2016 Yandex' headcount increased by 362
   full-time employees. The total number of full-time employees was 6,271 as of December
   31, 2016, an increase of 6% from September 30, 2016, and up 15% from December 31,
   2015.</p>
<p><strong><strong>Cost of revenues, including traffic acquisition costs (TAC)</strong></strong>
</p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>

    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong><em><strong><em>In RUB millions</em></strong></em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="3">
            <strong><strong>Three months ended
                <br>December&nbsp;31,&nbsp;</strong></strong>
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="3">
            <strong><strong>Twelve months ended
                <br>December&nbsp;31,&nbsp;</strong></strong>
        </td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <strong><em><strong><em>&nbsp;</em></strong></em></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2015</strong></strong></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <em><em>Change</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2015</strong></strong></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <em><em>Change</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            TAC:
        </td>


        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>&nbsp;</em></em></td><td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>&nbsp;</em></em></td><td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>&nbsp;</em></em></td><td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>&nbsp;</em></em></td><td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>&nbsp;</em></em></td>


        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>&nbsp;</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Related to the Yandex ad network
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            2,669
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            3,101
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>16%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            8,981
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            11,015
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>23%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Related to distribution partners
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,051
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,173
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>12%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            3,760
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            3,935
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>5%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Total TAC
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            3,720
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            4,274
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>15%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            12,741
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            14,950
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>17%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <em><em>Total TAC as a % of total revenues</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>20.6%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>19.3%</em></em></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
            <em><em>&nbsp;</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>21.3%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>19.7%</em></em></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
            <em><em>&nbsp;</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Other cost of revenues
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,077
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,362
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>26%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            4,069
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            4,804
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>18%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <em><em>Other cost of revenues as a % of revenues</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>6.0%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>6.2%</em></em></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
            <em><em>&nbsp;</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>6.8%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>6.3%</em></em></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
            <em><em>&nbsp;</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Total cost of revenues
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            4,797
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            5,636
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>17%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            16,810
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            19,754
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>18%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <em><em>Total cost of revenues as a % of revenues</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>26.5%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>25.5%</em></em></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
            <em><em>&nbsp;</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>28.1%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>26.0%</em></em></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
            <em><em>&nbsp;</em></em></td>
    </tr>

</tbody>
</table>
<p>TAC grew 15% in Q4 2016 compared with Q4 2015 and represented 19.3% of total
   revenues, 130 basis points lower than in Q4 2015 and flat compared with Q3 2016. The
   slowdown in the growth of partner TAC continued due to changes in partner revenue
   mix.</p>
<p><strong><strong>Other cost of revenues</strong></strong> in Q4 2016 increased 26%
                                                            compared with Q4 2015.</p>
<p><strong><strong>Product development</strong></strong></p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>

    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong><em><strong><em>In RUB millions</em></strong></em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="3">
            <strong><strong>Three months ended
                <br>December&nbsp;31,&nbsp;</strong></strong>
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="3">
            <strong><strong>Twelve months ended
                <br>December&nbsp;31,&nbsp;</strong></strong>
        </td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <strong><em><strong><em>&nbsp;</em></strong></em></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2015</strong></strong></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <em><em>Change</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2015</strong></strong></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <em><em>Change</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Product development
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            3,606
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            4,303
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>19%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            13,421
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            15,832
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>18%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <em><em>As a % of revenues</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>19.9%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>19.4%</em></em></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
                                                    <em><em>&nbsp;</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>22.5%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>20.8%</em></em></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
                                                    <em><em>&nbsp;</em></em></td>

    </tr>

</tbody>
</table>
<p>Growth in product development expenses in Q4 2016 primarily reflects salary increases
   in early 2016 and new hires.</p>
<p><strong><strong>Sales, general and administrative (SG&amp;A)</strong></strong></p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>

    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong><em><strong><em>In RUB millions</em></strong></em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="3">
            <strong><strong>Three months ended
                <br>December&nbsp;31,&nbsp;</strong></strong>
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="3">
            <strong><strong>Twelve months ended
                <br>December&nbsp;31,&nbsp;</strong></strong>
        </td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <strong><em><strong><em>&nbsp;</em></strong></em></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2015</strong></strong></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <em><em>Change</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2015</strong></strong></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <em><em>Change</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Sales, general and administrative
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            4,112
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            6,435
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>56%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            11,601
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            17,885
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>54%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <em><em>As a % of revenues</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>22.7%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>29.1%</em></em></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>&nbsp;</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>19.4%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>23.6%</em></em></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
            <em><em>&nbsp;</em></em></td>
    </tr>

</tbody>
</table>
<p>SG&amp;A expenses grew faster than revenue, increasing by 56% in Q4 2016 compared to
   Q4 2015 as we continued to invest in advertising and marketing to support our
   business units, including Taxi, E-commerce and Classifieds, as well as our core
   products, including search and Yandex Browser.</p>
<p><strong><strong>Share-based compensation (SBC) expense</strong></strong></p>
<p>SBC expense is included in each of the cost of revenues, product development, and SG&amp;A
   categories discussed above.</p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>

    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong><em><strong><em>In RUB millions</em></strong></em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="3">
            <strong><strong>Three months ended
                <br>December&nbsp;31,&nbsp;</strong></strong>
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="3">
            <strong><strong>Twelve months ended
                <br>December&nbsp;31,&nbsp;</strong></strong>
        </td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <strong><em><strong><em>&nbsp;</em></strong></em></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2015</strong></strong></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <em><em>Change</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2015</strong></strong></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <em><em>Change</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            SBC expense included in cost of revenues
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            43
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            48
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>12%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            168
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            193
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>15%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            SBC expense included in product development
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            629
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            566
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-10%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,860
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            2,238
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>20%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            SBC expense included in SG&amp;A
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            221
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            251
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>14%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            690
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            991
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>44%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Total SBC expense
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            893
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            865
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-3%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            2,718
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            3,422
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>26%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <em><em>As a % of revenues</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>4.9%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>3.9%</em></em></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
                                                    <em><em>&nbsp;</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>4.5%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>4.5%</em></em></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
                                                    <em><em>&nbsp;</em></em></td>
    </tr>

</tbody>
</table>
<p>Total SBC expense decreased 3% in Q4 2016 compared with Q4 2015. The decrease
   reflects the appreciation of Russian ruble, since equity-based grants are denominated
   in USD.</p>
<p><strong><strong>D</strong></strong><strong><strong>epreciation and amortization (D&amp;A)
                                                      expense</strong></strong></p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>

    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong><em><strong><em>In RUB millions</em></strong></em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin" colspan="3">
            <strong><strong>Three months ended
                <br>December&nbsp;31,&nbsp;</strong></strong>
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin" colspan="6">
            <strong><strong>Twelve months ended
                <br>December&nbsp;31,&nbsp;</strong></strong>
        </td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <strong><em><strong><em>&nbsp;</em></strong></em></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_center gnw_vertical_align_bottom hugin">
            <strong><strong>2015</strong></strong></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_center gnw_vertical_align_bottom hugin">
            <strong><strong>2016</strong></strong></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <em><em>Change</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_center gnw_vertical_align_bottom hugin">
            <strong><strong>2015</strong></strong></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_center gnw_vertical_align_bottom hugin">
            <strong><strong>2016</strong></strong></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <em><em>Change</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Depreciation and amortization
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            2,275
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            2,408
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>6%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            7,791
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            9,607
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>23%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <em><em>As a % of revenues</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>12.6%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>10.9%</em></em></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>&nbsp;</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>13.0%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>12.7%</em></em></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>&nbsp;</em></em></td>
    </tr>

</tbody>
</table>
<p>D&amp;A expense increased 6% in Q4 2016 compared with Q4 2015, primarily reflecting
   investments in servers and data centers made in 2015 and 2016, and was partially
   offset by the currency translation effect related to D&amp;A expense on our data
   center in Finland which is denominated in Euro.</p>
<p><strong><strong>Goodwill impairment</strong></strong></p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>

    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong><em><strong><em>In RUB millions</em></strong></em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin" colspan="3">
            <strong><strong>Three months ended
                <br>December&nbsp;31,&nbsp;</strong></strong>
        </td>
        <td
                class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin" colspan="3">
            <strong><strong>Twelve months ended
                <br>December&nbsp;31,&nbsp;</strong></strong>
        </td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <strong><em><strong><em>&nbsp;</em></strong></em></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_center gnw_vertical_align_bottom hugin">
            <strong><strong>2015</strong></strong></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <strong><strong>2016</strong></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <em><em>Change</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_center gnw_vertical_align_bottom hugin">
            <strong><strong>2015</strong></strong></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <strong><strong>2016</strong></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <em><em>Change</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Goodwill impairment
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            576
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            -
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>n/m</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            576
        </td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            -
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>n/m</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <em><em>As a % of revenues</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>3.2%</em></em></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>n/m</em></em></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>&nbsp;</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>1.0%</em></em></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>n/m</em></em></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>&nbsp;</em></em></td>
    </tr>

</tbody>
</table>
<p>The goodwill impairment recorded in Q4 2015 of RUB 576 million related to the
   KinoPoisk acquisition and was a result of the Company’s annual goodwill impairment
   test reflecting more conservative projected free cash flows from this business.</p>
<p><strong><strong>Income from operations</strong></strong></p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>

    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong><em><strong><em>In RUB millions</em></strong></em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin" colspan="3">
            <strong><strong>Three months ended
                <br>December&nbsp;31,&nbsp;</strong></strong>
        </td>
        <td
                class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin" colspan="3">
            <strong><strong>Twelve months ended
                <br>December&nbsp;31,&nbsp;</strong></strong>
        </td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <strong><em><strong><em>&nbsp;</em></strong></em></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <strong><strong>2015</strong></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <strong><strong>2016</strong></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <em><em>Change</em></em></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <strong><strong>2015</strong></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <strong><strong>2016</strong></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <em><em>Change</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Income from operations
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            2,728
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            3,337
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>22%</em></em></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            9,593
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            12,847
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>34%</em></em></td>
    </tr>

</tbody>
</table>
<p>Income from operations increased 22% in Q4 2016 compared with Q4 2015.</p>
<p><strong><strong>Adjusted EBITDA</strong></strong></p>
<p>Consolidated adjusted EBITDA</p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>

    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong><em><strong><em>In RUB millions</em></strong></em></strong></td>
        <td
                class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="3">
            <strong><strong>Three months ended
                <br>December&nbsp;31,&nbsp;</strong></strong>
        </td>
        <td
                class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="3">
            <strong><strong>Twelve months ended
                <br>December&nbsp;31,&nbsp;</strong></strong>
        </td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <strong><em><strong><em>&nbsp;</em></strong></em></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2015</strong></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <em><em>Change</em></em></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2015</strong></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <em><em>Change</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Adjusted EBITDA
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            6,560
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            6,701
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>2%</em></em></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            20,969
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            26,121
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>25%</em></em></td>
    </tr>

</tbody>
</table>
<p>Adjusted EBITDA increased 2% in Q4 2016 compared with Q4 2015. The growth was
   impacted by our investments in advertising and marketing, primarily related to
   Yandex.Taxi, as well as salary increases and new hiring.</p>
<p>Adjusted EBITDA by segments</p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>

    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong><em><strong><em>In RUB millions</em></strong></em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="3">
            <strong><strong>Three months ended
                <br>December&nbsp;31,&nbsp;</strong></strong>
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="3">
            <strong><strong>Twelve months ended
                <br>December&nbsp;31,&nbsp;</strong></strong>
        </td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <strong><em><strong><em>&nbsp;</em></strong></em></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2015</strong></strong></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <em><em>Change</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2015</strong></strong></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>

        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <em><em>Change</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Adjusted EBITDA:
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong></td>
    </tr>
    <tr>
        <td class="gnw_label_i25 gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Search and Portal
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;7,128
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;8,123
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>14%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;21,651
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;28,445
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>31%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_label_i25 gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            E-commerce
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;486
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;329
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-32%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;1,726
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;1,420
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-18%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_label_i25 gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Taxi
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(19)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(1,300)
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_right hugin">
            <em><em>n/m</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;162
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(2,086)
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_right hugin">
            <em><em>n/m</em></em></td>
    </tr>
    <tr>
        <td class="gnw_label_i25 gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Classifieds
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(14)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(97)
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_right hugin">
            <em><em>n/m</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;146
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(54)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-137%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_label_i25 gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Experiments
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(1,021)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(354)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-65%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(2,716)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(1,604)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-41%</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Total adjusted EBITDA
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;6,560
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;6,701
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>2%</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;20,969
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;26,121
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>25%</em></em></td>
    </tr>

</tbody>
</table>
<p><strong><strong>Interest income, net</strong></strong> in Q4 2016 was RUB 344
                                                          million, down from RUB 489
                                                          million in Q4 2015.</p>
<p><strong><strong>Foreign exchange loss</strong></strong> in Q4 2016 was RUB 1,163
                                                           million, compared with a
                                                           foreign exchange gain of RUB
                                                           1,109 million in Q4 2015.
                                                           This loss reflects the
                                                           appreciation of the Russian
                                                           ruble during Q4 2016 from RUB
                                                           63.1581 to $1.00 on September
                                                           30, 2016, to RUB 60.6569 to
                                                           $1.00 on December 31, 2016.
                                                           Yandex's Russian operating
                                                           subsidiaries' functional
                                                           currency is the Russian
                                                           ruble, and therefore changes
                                                           due to exchange rate
                                                           fluctuations in the ruble
                                                           value of these subsidiaries'
                                                           monetary assets and
                                                           liabilities that are
                                                           denominated in other
                                                           currencies are recognized as
                                                           foreign exchange gains or
                                                           losses within Other
                                                           income/(loss), net line in
                                                           the condensed consolidated
                                                           statements of income.
                                                           Although the U.S. dollar
                                                           value of Yandex's U.S.
                                                           dollar-denominated assets and
                                                           liabilities was not impacted
                                                           by these currency
                                                           fluctuations, they resulted
                                                           in a downward revaluation of
                                                           the ruble equivalent of these
                                                           U.S. dollar-denominated
                                                           monetary assets and
                                                           liabilities in Q4 2016.</p>
<p><strong><strong>Income tax expense </strong></strong>for Q4 2016 was RUB 1,314
                                                        million, down from RUB 1,503
                                                        million in Q4 2015. Our
                                                        effective tax rate of 52.0% in
                                                        Q4 2016 was higher than in Q4
                                                        2015, primarily due to the
                                                        effects of certain provisions
                                                        recognized in Q4 2016 related to
                                                        the results of prior years’ tax
                                                        audits. Adjusted for these
                                                        effects and SBC expense, our
                                                        effective tax rate for Q4 2016
                                                        was 22.2%, and our effective tax
                                                        rate for full-year 2016 was
                                                        23.4%, compared with 22.7% for
                                                        full year 2015 as adjusted for
                                                        SBC expense and one-off effects
                                                        in that year.</p>
<p><strong><strong>Net income</strong></strong> was RUB 1.2 billion ($20.0 million) in
                                                Q4 2016, down 57% compared with Q4 2015,
                                                mainly due to foreign exchange loss and
                                                an increase in SG&amp;A, which grew
                                                faster than total revenue.</p>
<p><strong><strong>Adjusted net income </strong></strong>in Q4 2016 was RUB 3.2 billion
                                                         ($53.6 million), a 11% decrease
                                                         from Q4 2015.</p>
<p><strong><strong>Adjusted net income margin</strong></strong> was 14.7% in Q4 2016,
                                                                compared with 20.1% in
                                                                Q4 2015.</p>
<p>As of December 31, 2016, Yandex had<strong><strong> cash, cash equivalents, term
                                                       deposits and short-term
                                                       investments in debt
                                                       securities </strong></strong>of
   RUB 63.0 billion ($1,039.1 million).</p>
<p><strong><strong>Net cash flow provided by operating activities </strong></strong>for
                                                                                    Q4
                                                                                    2016
                                                                                    was
                                                                                    RUB
                                                                                    5.3
                                                                                    billion
                                                                                    ($87.9
                                                                                    million)
                                                                                    and<strong><strong>
        capital expenditures</strong></strong> were RUB 2.9 billion ($48.2 million),
                                                                                    respectively.
</p>
<p>During Q4 2016, we repurchased $59.7 million in principal of our <strong><strong>1.125%
                                                                                    convertible
                                                                                    senior
                                                                                    notes</strong></strong>
   due 2018 for approximately $57.4 million.</p>
<p><strong><strong>Redeemable noncontrolling interests</strong></strong> presented in
                                                                         our
                                                                         consolidated
                                                                         balance sheets
                                                                         relate to the
                                                                         equity
                                                                         incentive
                                                                         arrangements we
                                                                         have made
                                                                         available to
                                                                         the senior
                                                                         employees of
                                                                         the
                                                                         Yandex.Taxi,
                                                                         Classifieds and
                                                                         E-commerce
                                                                         segments,
                                                                         pursuant to
                                                                         which such
                                                                         persons are
                                                                         eligible to
                                                                         acquire
                                                                         depositary
                                                                         receipts, or
                                                                         receive options
                                                                         to acquire
                                                                         depositary
                                                                         receipts, which
                                                                         entitle them to
                                                                         economic
                                                                         interests in
                                                                         the respective
                                                                         business unit
                                                                         subsidiaries.
</p>
<p>The <strong><strong>total number of shares issued and outstanding </strong></strong>as
   of December 31, 2016 was 322,616,941 including 277,579,206 Class A shares, 45,037,734
   Class B shares, and one Priority share and excluding 7,439,813 Class A shares held in
   treasury and all Class C shares outstanding solely as a result of the conversion of
   Class B shares into Class A shares; all such Class C shares will be cancelled.</p>
<p>There were also employee share options outstanding to purchase up to an additional
   2.2 million shares, at a weighted average exercise price of $5.29 per share,
   substantially all of which were fully vested; equity-settled share appreciation
   rights (SARs) for 0.2 million shares, at a weighted average measurement price of
   $30.21, substantially all of which were fully vested; and restricted share units
   (RSUs) covering 9.1 million shares, of which RSUs to acquire 2.2 million shares were
   fully vested. Equity awards in respect of business unit subsidiares are described
   under Redeemable noncontrolling interests above.</p>
<p><em><em>Please note, that historical information on revenues and adjusted EBITDA of
           our segments is provided in the supplementary slides accompanying our Q4 2016
           earnings release, including quarterly data for the eight quarters from Q1
           2015 through Q4 2016 and annual data for the four years from 2013 through
           2016.</em></em></p>
<h2>Financial outlook</h2>
<p>We expect our consolidated revenue to grow in the range of 16% to 19% in the full
   year 2017 compared with 2016.</p>
<p>This outlook reflects our current view, based on the trends that we see at this time,
   and may change in light of market and economic developments in the business sectors
   and jurisdictions in which we operate.</p>
<h2>Conference Call Information</h2>
<p>Yandex’s management will hold an earnings conference call on February 16, 2017 at
   8:00 AM U.S. Eastern Time (4:00 PM Moscow time; 1:00 PM London time).</p>
<p>To access the conference call live, please dial:</p>
<p>US: +1 877 280 1254<br>UK/International: +44 20 3427 1906<br>Russia: 8 800 500
   9312<br>Passcode: 1934764#</p>
<p>A replay of the call will be available until February&nbsp;23, 2017. To access the
   replay, please dial:</p>
<p>US: +1 866 932 5017<br>UK/International: +44 20 3427 0598<br>Russia: 810 800 2870
   1012<br>Passcode: 1934764#</p>
<p>A live and archived webcast of this conference call will be available at</p>
<p>
    <a href="https://www.globenewswire.com/Tracker?data=nYhV0N8TyIk17nlxuSOFsGc3IdbnD7Te7kNO98Oxy2pLG72XBmefct7V-FnF7fn-E-b5WH2dbCQ_HTbEGojR9IAUA8a6NBUFqIQB-pnoRF4tZhYkteIzQGI8AQACfLu4a_bwHd1Degl13l0BuK5uOg==" rel="nofollow" target="_blank" title="">http://edge.media-server.com/m/p/i2nno8oz</a>
</p>
<h2>ABOUT YANDEX</h2>
<p>Yandex (NASDAQ:<a href="/News/Listing?symbol=YNDX&amp;exchange=2">YNDX</a>) is a
   technology company that builds intelligent products and services powered by machine
   learning. Our goal is to help consumers and businesses better navigate the online and
   offline world. Since 1997, we have delivered world-class, locally relevant search and
   information services. Additionally, we have developed market-leading on-demand
   transportation services, navigation products, and other mobile applications for
   millions of consumers across the globe. Yandex, which has 17 offices worldwide, has
   been listed on the NASDAQ since 2011.</p>
<p>More information on Yandex can be found at
    <a href="https://www.globenewswire.com/Tracker?data=nxXEVNTENOEQPa8Z-Z4JLHsxciXBfAC8ZaiZqn5VHB00OeBJ4zUzDWzYcTa9Kep5bMGA7isfd-wAlz6l_LjcVj4J3Z8Eq6GfllAW57NUd2k=" rel="nofollow" target="_blank" title="">https://yandex.com/company</a>.
</p>
<h2>FORWARD-LOOKING STATEMENTS</h2>
<p>This press release contains forward-looking statements that involve risks and
   uncertainties. These include statements regarding our anticipated revenues for
   full-year 2017. Actual results may differ materially from the results predicted or
   implied by such statements, and our reported results should not be considered as an
   indication of future performance. The potential risks and uncertainties that could
   cause actual results to differ from the results predicted or implied by such
   statements include, among others, macroeconomic and geopolitical developments
   affecting the Russian economy, competitive pressures, changes in advertising
   patterns, changes in user preferences, changes in the political, legal and/or
   regulatory environment, technological developments, and our need to expend capital to
   accommodate the growth of the business, as well as those risks and uncertainties
   included under the captions “Risk Factors” and “Operating and Financial Review and
   Prospects” in our Annual Report on Form&nbsp;20-F for the year ended December&nbsp;31,
   2015, which is on file with the U.S. Securities and Exchange Commission (SEC) and is
   available on our investor relations website at
    <a href="https://www.globenewswire.com/Tracker?data=nYhV0N8TyIk17nlxuSOFsPd5bUb1MFF8ANYZUgDZThOPSd2vC4ByI1lmlK9tLY2cgRxZ7Rw9qMn5_f3_ki7ArzOaoccbDuwylCxeQj7EPpc=" rel="nofollow" target="_blank" title="">http://ir.yandex.com/sec.cfm</a>&nbsp;and
   on the SEC website at
    <a href="https://www.globenewswire.com/Tracker?data=9W1v9qlqNeqh-nNnsKOJ-PHpRUwMfJdhTjoztGUWVXhUXwJylPv8842_CRIsWVcC1mDytTauaGv6zF1ANXf-jQ==" rel="nofollow" target="_blank" title="www.sec.gov">www.sec.gov</a>.
   All information in this release and in the attachments is as of February 16, 2017,
   and Yandex undertakes no duty to update this information unless required by law.</p>
<h2>USE OF NON-GAAP FINANCIAL MEASURES</h2>
<p>To supplement our condensed consolidated financial statements, which are prepared and
   presented in accordance with U.S. GAAP, we present the following non-GAAP financial
   measures: ex-TAC revenues, adjusted EBITDA, adjusted EBITDA margin, adjusted ex-TAC
   EBITDA margin, adjusted net income, adjusted net income margin and adjusted ex-TAC
   net income margin. The presentation of these financial measures is not intended to be
   considered in isolation or as a substitute for, or superior to, the financial
   information prepared and presented in accordance with U.S. GAAP. For more information
   on these non-GAAP financial measures, please see the tables captioned
   “Reconciliations of non-GAAP financial measures to the nearest comparable U.S. GAAP
   measures”, included following the accompanying financial tables. We define the
   various non-GAAP financial measures we use as follows:</p>
<ul type="disc">
    <li><strong><strong>Ex-TAC revenues</strong></strong> means U.S. GAAP revenues
        <span data-mce-style="text-decoration: underline;" style="text-decoration: underline;">less</span>
                                                          total traffic acquisition
                                                          costs (TAC)
    </li>
    <li><strong><strong>Adjusted EBITDA </strong></strong>means U.S. GAAP net income
        <span data-mce-style="text-decoration: underline;" style="text-decoration: underline;">plus</span>
                                                          (1)&nbsp;depreciation and
                                                          amortization, (2)&nbsp;SBC
                                                          expense, (3)&nbsp;accrual of
                                                          expense related to the
                                                          contingent compensation that
                                                          may be payable to employees in
                                                          connection with certain
                                                          business combinations, (4)
                                                          goodwill impairment related to
                                                          KinoPoisk and (5)&nbsp;provision
                                                          for income taxes,
        <span data-mce-style="text-decoration: underline;" style="text-decoration: underline;">less</span>
                                                          (A) interest income, net and
                                                          (B) other income/(loss), net
    </li>
    <li><strong><strong>Adjusted EBITDA margin</strong></strong> means adjusted EBITDA
        <span data-mce-style="text-decoration: underline;" style="text-decoration: underline;">divided</span>
                                                                 by U.S. GAAP revenues
    </li>
    <li><strong><strong>Adjusted ex-TAC EBITDA margin</strong></strong> means adjusted
                                                                        EBITDA
        <span data-mce-style="text-decoration: underline;" style="text-decoration: underline;">divided</span>
                                                                        by ex-TAC
                                                                        revenues
    </li>
    <li><strong><strong>Adjusted net income</strong></strong> means U.S. GAAP net income
        <span data-mce-style="text-decoration: underline;" style="text-decoration: underline;">plus</span>
                                                              (1)&nbsp;SBC expense
                                                              adjusted for the income
                                                              tax reduction attributable
                                                              to SBC expense, (2)&nbsp;accrual
                                                              of expense related to the
                                                              contingent compensation
                                                              that may be payable to
                                                              certain employees in
                                                              connection with certain
                                                              business combinations, (3)
                                                              goodwill impairment
                                                              related to KinoPoisk and
                                                              (4)&nbsp;amortization of
                                                              debt discount related to
                                                              our convertible debt
                                                              adjusted for the related
                                                              reduction in income tax;
        <span data-mce-style="text-decoration: underline;" style="text-decoration: underline;">less</span>
                                                              (A) foreign exchange gains
                                                              (plus foreign exchange
                                                              losses) adjusted for the
                                                              increase (reduction) in
                                                              income tax attributable to
                                                              the foreign exchange gains
                                                              (losses) and (B) gain from
                                                              repurchases of our
                                                              convertible notes adjusted
                                                              for the related increase
                                                              in income tax
    </li>
    <li>&nbsp;<strong><strong>Adjusted net income margin </strong></strong>means
        adjusted net income
        <span data-mce-style="text-decoration: underline;" style="text-decoration: underline;">divided</span>
        by U.S. GAAP revenues
    </li>
    <li><strong><strong>Adjusted ex-TAC net income margin </strong></strong>means
                                                                            adjusted net
                                                                            income
        <span data-mce-style="text-decoration: underline;" style="text-decoration: underline;">divided</span>
                                                                            by ex-TAC
                                                                            revenues
    </li>
</ul>
<p>These non-GAAP financial measures are used by management for evaluating financial
   performance as well as decision-making. Management believes that these metrics
   reflect the organic, core operating performance of the company, and therefore are
   useful to analysts and investors in providing supplemental information that helps
   them understand, model and forecast the evolution of our operating business.</p>
<p>Although our management uses these non-GAAP financial measures for operational
   decision-making and considers these financial measures to be useful for analysts and
   investors, we recognize that there are a number of limitations related to such
   measures. In particular, it should be noted that several of these measures exclude
   some recurring costs, particularly share-based compensation. In addition, the
   components of the costs that we exclude in our calculation of the measures described
   above may differ from the components that our peer companies exclude when they report
   their results of operations.</p>
<p>Below we describe why we make particular adjustments to certain U.S. GAAP financial
   measures:</p>
<p><em><em>TAC</em></em></p>
<p>We believe that it may be useful for investors and analysts to review certain
   measures both in accordance with U.S. GAAP and net of the effect of TAC, which we
   view as comparable to sales commissions but, unlike sales commissions, are not
   deducted from U.S. GAAP revenues. By presenting revenue, adjusted EBITDA margin and
   adjusted net income margin net of TAC, we believe that investors and analysts are
   able to obtain a clearer picture of our business without the impact of the revenues
   we share with our partners.</p>
<p><em><em>SBC</em></em></p>
<p>SBC is a significant expense item, and an important part of our compensation and
   incentive programs. As it is a non-cash charge, however, and highly dependent on our
   share price at the time of equity award grants, we believe that it is useful for
   investors and analysts to see certain financial measures excluding the impact of
   these charges in order to obtain a clearer picture of our operating performance.</p>
<p><em><em>Acquisition-related costs</em></em></p>
<p>We may incur expenses in connection with acquisitions that are not indicative of our
   recurring core operating performance. In particular, we are required under U.S. GAAP
   to accrue as expense the contingent compensation that is payable to certain employees
   in connection with certain business combinations. We eliminate these
   acquisition-related expenses from adjusted EBITDA and adjusted net income to provide
   management and investors a tool for comparing on a period-to-period basis our
   operating performance in the ordinary course of operations.</p>
<p><em><em>Foreign exchange gains and losses</em></em></p>
<p>Because we hold significant assets and liabilities in currencies other than our
   Russian ruble operating currency, and because foreign exchange fluctuations are
   outside of our operational control, we believe that it is useful to present adjusted
   net income and related margin measures excluding these effects, in order to provide
   greater clarity regarding our operating performance.</p>
<p><em><em>Amortization of debt discount</em></em></p>
<p>We also adjust net income for interest expense representing amortization of the debt
   discount related to our convertible notes issued in Q4 2013 and Q1 2014.We have
   eliminated this expense from adjusted net income as it is non-cash in nature and is
   not indicative of our ongoing operating performance.</p>
<p><em><em>Gain from repurchases of convertible debt</em></em></p>
<p>Adjusted net income also excludes a gain from the repurchase of $59.7 million in
   principal of our 1.125% convertible senior notes due 2018 for approximately $57.4
   million that we recorded in Q4 2016. We have eliminated this gain from adjusted net
   income as it is not indicative of our ongoing operating performance.</p>
<p>The tables at the end of this release provide detailed reconciliations of each
   non-GAAP financial measure we use to the most directly comparable U.S. GAAP financial
   measure.</p>
<p class="text-align-center">
    <strong>YANDEX&nbsp;N.V.</strong>
    <br><br>
    <strong>Unaudited Condensed Consolidated Balance Sheets</strong>
    <br><br>
    <strong>(in millions of Russian rubles and U.S. dollars, except share
            and per share data)</strong>
</p>
<table class="gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin" colspan="2">
            <strong><strong>December&nbsp;31,&nbsp;</strong></strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin" colspan="2">
            <strong><strong>December&nbsp;31,&nbsp;</strong></strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin" colspan="2">
            <strong><strong>December&nbsp;31,&nbsp;</strong></strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="2">
            <strong><strong>2015*</strong></strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_bottom gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_bottom gnw_align_center hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin" colspan="2">
            <strong><strong>RUB</strong></strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin" colspan="2">
            <strong><strong>RUB</strong></strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin" colspan="2">
            <strong><strong>$</strong></strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">
            <strong><strong>ASSETS</strong></strong>
        </td>
        <td class="gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin" colspan="2">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Current assets:</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Cash and cash equivalents</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            24,238
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            28,232
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            465.4
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Term deposits</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            15,150
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            31,769
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            523.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Investments in debt securities
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            2,915
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            3,033
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            50.0
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Accounts receivable, net</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            5,586
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            7,741
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            127.6
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Prepaid expenses</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,505
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,481
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            24.6
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Other current assets</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            3,835
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            2,714
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            44.7
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Total current assets</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            53,229
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            74,970
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,236.0
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Property and equipment, net</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            20,860
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            18,817
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            310.2
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Intangible assets, net</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            5,988
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            5,514
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            90.9
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Goodwill</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            8,581
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            8,436
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            139.1
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Long-term prepaid expenses</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,488
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,385
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            22.8
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Restricted cash, non-current
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            533
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            442
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            7.3
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Term deposits, non-current</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            18,399
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            -
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            -
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Investments in non-marketable
                                                    equity securities
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,122
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,513
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            24.9
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Deferred tax assets</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            226
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            662
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            10.9
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Other non-current assets</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,392
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            2,369
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            39.1
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin"><strong><strong>TOTAL
                                                                    ASSETS</strong></strong>
        </td>
        <td class="gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;111,818</strong></strong></td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin"><strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;114,108</strong></strong></td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin"><strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;1,881.2</strong></strong></td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin"><strong><strong>LIABILITIES AND
                                                                    SHAREHOLDERS’
                                                                    EQUITY</strong></strong>
        </td>
        <td class="gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Current liabilities:</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Accounts payable and accrued
                                                    liabilities
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            6,994
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            9,532
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            157.2
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Taxes payable</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            2,800
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            2,963
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            48.8
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Deferred revenue</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,875
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            2,127
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            35.1
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Total current liabilities</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            11,669
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            14,622
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            241.1
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Convertible debt</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            27,374
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            18,750
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            309.1
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Deferred tax liabilities</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,552
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,040
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            17.1
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Other accrued liabilities</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,126
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,104
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            18.2
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Total liabilities</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            41,721
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            35,516
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            585.5
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Commitments and contingencies
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Redeemable noncontrolling
                                                    interests
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            —
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,506
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            24.8
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Shareholders’ equity:</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Priority share: €1.00 par value;
                                                    1 share authorized, issued and
                                                    outstanding
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            —
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            —
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            —
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Preference shares: €0.01 par
                                                    value; 1,000,000,001 shares
                                                    authorized, nil shares issued
                                                    and outstanding
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            —
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            —
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            —
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Ordinary shares: par value
                                                    (Class A €0.01, Class B €0.10
                                                    and Class C €0.09); shares
                                                    authorized (Class A:
                                                    1,000,000,000, Class B:
                                                    61,295,523 and 46,997,887 and
                                                    Class C: 61,295,523 and
                                                    46,997,887); shares issued
                                                    (Class A: 282,161,148 and
                                                    285,019,019, Class B: 47,895,605
                                                    and 45,037,734, and Class C:
                                                    12,000,000 and 560,235,
                                                    respectively); shares
                                                    outstanding (Class A:
                                                    271,356,566 and 277,579,206,
                                                    Class B: 47,895,605 and
                                                    45,037,734, and Class C: nil)
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            75
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            284
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            4.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Treasury shares at cost (Class
                                                    A: 10,804,582 and 7,439,813,
                                                    respectively)
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (12,531
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (8,368
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (138.0
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Additional paid-in capital</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            17,257
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            16,579
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            273.3
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Accumulated other comprehensive
                                                    income
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            3,099
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            896
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            14.9
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Retained earnings</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            62,197
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            67,695
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,116.0
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Total shareholders’ equity</td>
        <td class="gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            70,097
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin"><strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            77,086
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin"><strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,270.9
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin"><strong><strong>TOTAL
                                                                    LIABILITIES AND
                                                                    SHAREHOLDERS’
                                                                    EQUITY</strong></strong>
        </td>
        <td class="gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;111,818</strong></strong></td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin"><strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;114,108</strong></strong></td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin"><strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;1,881.2</strong></strong></td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="10">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="10">*&nbsp;<em><em>Derived
                                                                                from
                                                                                audited
                                                                                consolidated
                                                                                financial
                                                                                statements</em></em>
        </td>
    </tr>
</tbody>
</table>
<p><br></p>
<p class="text-align-center">
    <strong>YANDEX&nbsp;N.V.</strong>
    <br><br>
    <strong>Unaudited Condensed Consolidated Statements of Income</strong>
    <br><br>
    <strong>(in millions of Russian rubles and U.S. dollars, except share
            and per share data)</strong>
</p>
<table class="gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="7">
            <strong><strong>Three months ended
                            December&nbsp;31,&nbsp;</strong></strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2015</strong></strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_bottom gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_bottom gnw_align_center hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>RUB</strong></strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin" colspan="2">
            <strong><strong>RUB</strong></strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin" colspan="2">
            <strong><strong>$</strong></strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Revenues</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">18,094</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            22,119
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            364.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Operating costs and expenses:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Cost of revenues(1)</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">4,797</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            5,636
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            92.9
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Product development(1)</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">3,606</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            4,303
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            70.9
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Sales, general and
                                                    administrative(1)
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">4,112</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            6,435
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            106.1
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Depreciation and amortization
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">2,275</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            2,408
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            39.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Goodwill impairment</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            576
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            -
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            -
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_label_i10 gnw_vertical_align_bottom hugin">Total operating
                                                                  costs and expenses
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            15,366
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            18,782
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            309.6
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Income from operations</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">2,728</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            3,337
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            55.1
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Interest income, net</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">489</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            344
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            5.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Other income/(loss), net</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            1,137
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (1,154
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (19.1
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
    </tr>
    <tr>
        <td class="gnw_label_i10 gnw_vertical_align_bottom hugin">Net income before
                                                                  income taxes
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">4,354</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            2,527
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            41.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Provision for income taxes</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            1,503
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,314
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            21.7
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Net income</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            2,851
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,213
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            20.0
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Net loss attributable to
                                                    noncontrolling interests
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            -
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            15
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            0.2
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Net income attributable to
                                                    Yandex N.V.
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin">
            2,851
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,228
        </td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            20.2
        </td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Net income per Class&nbsp;A and
                                                    Class&nbsp;B share:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Basic</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin">
            8.93
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            3.81
        </td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            0.06
        </td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Diluted</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin">
            8.82
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            3.76
        </td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            0.06
        </td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Weighted average number of Class
                                                    A and Class B shares outstanding
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Basic</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">319,101,598</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            322,036,640
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            322,036,640
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Diluted</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">323,077,175</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            327,013,212
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            327,013,212
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin">&nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin">&nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin">&nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin">&nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="9">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="9">(1) These balances
                                                                exclude depreciation
                                                                and amortization
                                                                expenses, which are
                                                                presented
                                                                separately, and
                                                                include share-based
                                                                compensation
                                                                expenses of:
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="9">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Cost of revenues</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">43</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">48</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">0.8</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Product development</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">629</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">566</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">9.3</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Sales, general and
                                                    administrative
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">221</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">251</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">4.2</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
</tbody>
</table>
<p><br></p>
<p class="text-align-center">
    <strong>YANDEX&nbsp;N.V.</strong>
    <br><br>
    <strong>Unaudited Condensed Consolidated Statements of Income</strong>
    <br><br>
    <strong>(in millions of Russian rubles and U.S. dollars, except share
            and per share data)</strong>
</p>
<table class="gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="7">
            <strong><strong>Twelve months ended
                            December&nbsp;31,&nbsp;</strong></strong></td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2015*</strong></strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_bottom gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_bottom gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>RUB</strong></strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin" colspan="2">
            <strong><strong>RUB</strong></strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin" colspan="2">
            <strong><strong>$</strong></strong></td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Revenues</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">59,792</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            75,925
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,251.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Operating costs and expenses:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Cost of revenues(1)</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">16,810</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            19,754
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            325.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Product development(1)</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">13,421</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            15,832
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            261.0
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Sales, general and
                                                    administrative(1)
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">11,601</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            17,885
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            294.8
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Depreciation and amortization
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">7,791</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            9,607
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            158.4
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Goodwill impairment</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;576
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;-
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;-
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_label_i10 gnw_vertical_align_bottom hugin">Total operating
                                                                  costs and expenses
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            50,199
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            63,078
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,039.9
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Income from operations</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">9,593</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            12,847
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            211.8
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Interest income, net</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">1,744</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,655
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            27.3
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Other income/(loss), net</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;2,259
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(3,395
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(56.0
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_label_i10 gnw_vertical_align_bottom hugin">Net income before
                                                                  income taxes
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">13,596</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            11,107
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            183.1
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Provision for income taxes</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            3,917
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            4,324
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            71.3
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Net income</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            9,679
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            6,783
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            111.8
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Net loss attributable to
                                                    noncontrolling interests
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;-
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            15
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            0.2
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Net income attributable to
                                                    Yandex N.V.
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin">
            9,679
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            6,798
        </td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            112.0
        </td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Net income per Class&nbsp;A and
                                                    Class&nbsp;B share:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Basic</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin">
            30.39
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            21.19
        </td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            0.35
        </td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Diluted</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin">
            29.90
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            20.84
        </td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            0.34
        </td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Weighted average number of Class
                                                    A and Class B shares outstanding
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Basic</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">318,541,887</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            320,788,967
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            320,788,967
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Diluted</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom hugin">323,713,437</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            326,136,949
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            326,136,949
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin">&nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin">&nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin">&nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin">&nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin">&nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="10">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="10">(1) These balances
                                                                 exclude
                                                                 depreciation and
                                                                 amortization
                                                                 expenses, which are
                                                                 presented
                                                                 separately, and
                                                                 include share-based
                                                                 compensation
                                                                 expenses of:
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="10">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Cost of revenues</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">168</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">193</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">3.2</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Product development</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">1,860</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">2,238</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">36.9</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Sales, general and
                                                    administrative
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">690</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">991</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">16.3</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin"><em>* Derived from audited
                                                        financial statements</em>&nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_right hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
</tbody>
</table>
<p><br></p>
<p class="text-align-center">
    <strong>YANDEX&nbsp;N.V.</strong>
    <br><br>
    <strong>Unaudited Condensed Consolidated Statements of Cash
            Flows</strong>
    <br><br>
    <strong>(in millions of Russian rubles and U.S. dollars)</strong>
</p>
<table class="gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="8">
            <strong><strong>Three months ended December&nbsp;31,&nbsp;</strong></strong>
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2015</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_bottom gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin"><strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_bottom gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin"><strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_bottom gnw_align_center hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin" colspan="2">
            <strong><strong>RUB</strong></strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin"><strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin" colspan="2">
            <strong><strong>RUB</strong></strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin"><strong><strong>&nbsp;</strong></strong>
        </td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin" colspan="2">
            <strong><strong>$</strong></strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">CASH FLOWS PROVIDED BY OPERATING
                                                    ACTIVITIES:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Net income</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;2,851
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;1,213
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;20.0
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Adjustments to reconcile net income
                                                    to net cash provided by operating
                                                    activities:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Depreciation of property and
                                                    equipment
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;1,800
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;1,913
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;31.5
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Amortization of intangible assets
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;475
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;495
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;8.2
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Amortization of debt discount and
                                                    issuance costs
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;235
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;201
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;3.3
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Share-based compensation expense
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;893
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;865
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;14.3
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Deferred income taxes</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(87
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(673
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(11.1
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Foreign exchange (gains)/losses</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(1,109
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;1,163
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;19.2
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Goodwill impairment</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;576
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;-
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;-
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Gain from repurchases of convertible
                                                    debt
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(67
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;-
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;-
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Other</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;13
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;107
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;1.8
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Changes in operating assets and
                                                    liabilities excluding the effect of
                                                    acquisitions:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Accounts receivable, net</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(900
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(1,513
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(24.9
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Prepaid expenses and other assets
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;106
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(545
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(9.0
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Accounts payable and accrued
                                                    liabilities
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;499
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;1,798
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;29.6
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Deferred revenue</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;215
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;306
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;5.0
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Net cash provided by operating
                                                    activities
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;5,500</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;5,330</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;87.9</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">CASH FLOWS PROVIDED BY/(USED IN)
                                                    INVESTING ACTIVITIES:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Purchases of property and equipment
                                                    and intangible assets
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(1,659
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(2,923
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(48.2
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Proceeds from sale of property and
                                                    equipment
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;60
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;19
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;0.3
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Acquisitions of businesses, net of
                                                    cash acquired
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(212
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;-
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;-
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Investments in non-marketable equity
                                                    securities
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(35
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(130
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(2.1
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Investments in debt securities</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(2,564
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(1,253
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(20.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Investments in term deposits</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(15,150
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(33,034
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(544.6
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Maturities of term deposits</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;20,044
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;12,632
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;208.3
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Loans granted</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(38
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(277
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(4.6
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Net cash provided by/(used in)
                                                    investing activities
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;446</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;(24,966</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            <strong><strong>)</strong></strong></td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;(411.6</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            <strong><strong>)</strong></strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">CASH FLOWS USED IN FINANCING
                                                    ACTIVITIES:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Proceeds from exercise of share
                                                    options
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;29
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;100
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;1.6
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Repurchases of convertible debt</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(1,187
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(3,318
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(54.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Payment for contingent
                                                    consideration
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(35
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(87
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(1.4
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Other financing activities</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;29
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;114
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;1.9
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Net cash used in financing
                                                    activities
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;(1,164</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            <strong><strong>)</strong></strong></td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;(3,191</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            <strong><strong>)</strong></strong></td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;(52.6</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            <strong><strong>)</strong></strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Effect of exchange rate changes on
                                                    cash and cash equivalents
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;1,417
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(636
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(10.6
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Net change in cash and cash
                                                    equivalents
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;6,199</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;(23,463</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            <strong><strong>)</strong></strong></td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;(386.9</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            <strong><strong>)</strong></strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Cash and cash equivalents at
                                                    beginning of period
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;18,039
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;51,695
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;852.3
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Cash and cash equivalents at end of
                                                    period
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;24,238
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;28,232
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;465.4
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
</tbody>
</table>
<p><br></p>
<p class="text-align-center">
    <strong>YANDEX&nbsp;N.V.</strong>
    <br><br>
    <strong>Unaudited Condensed Consolidated Statements of Cash Flows</strong>
    <br><br>
    <strong>(in millions of Russian rubles and U.S. dollars)</strong>
</p>
<table class="gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="8">
            <strong><strong>Twelve months ended
                            December&nbsp;31,&nbsp;</strong></strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="2">
            <strong><strong>2015*</strong></strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_bottom gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>2016</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_bottom gnw_align_center hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin" colspan="2">
            <strong><strong>RUB</strong></strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin" colspan="2">
            <strong><strong>RUB</strong></strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin">
            <strong><strong>&nbsp;</strong></strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin" colspan="2">
            <strong><strong>$</strong></strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">CASH FLOWS PROVIDED BY OPERATING
                                                    ACTIVITIES:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Net income</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            9,679
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            6,783
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            111.8
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Adjustments to reconcile net
                                                    income to net cash provided by
                                                    operating activities:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Depreciation of property and
                                                    equipment
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            6,197
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            7,655
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            126.2
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Amortization of intangible
                                                    assets
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,594
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,952
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            32.2
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Amortization of debt discount
                                                    and issuance costs
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            967
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            911
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            15.0
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Share-based compensation
                                                    expense
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            2,718
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            3,422
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            56.4
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Deferred income taxes</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (188
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (864
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (14.2
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Foreign exchange
                                                    (gains)/losses
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (1,903
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            3,834
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            63.2
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Gain from sale of equity
                                                    securities
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            -
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (157
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (2.6
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Goodwill impairment</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            576
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            -
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            -
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Gain from repurchases of
                                                    convertible debt
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (310
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (53
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (0.9
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Other</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (83
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (40
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (0.6
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Changes in operating assets and
                                                    liabilities excluding the effect
                                                    of acquisitions:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Accounts receivable, net</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (1,763
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (2,385
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (39.3
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Prepaid expenses and other
                                                    assets
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            888
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            276
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            4.6
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Accounts payable and accrued
                                                    liabilities
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,160
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            3,817
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            62.9
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Deferred revenue</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            44
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            298
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            4.9
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Net cash provided by operating
                                                    activities
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;19,576</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;25,449</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;419.6</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">CASH FLOWS USED IN INVESTING
                                                    ACTIVITIES:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Purchases of property and
                                                    equipment and intangible assets
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (13,045
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (9,625
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (158.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Proceeds from sale of property
                                                    and equipment
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            95
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            177
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            2.9
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Acquisitions of businesses, net
                                                    of cash acquired
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (398
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            -
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            -
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Investments in non-marketable
                                                    equity securities
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (110
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (491
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (8.1
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Investments in debt securities
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (2,564
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (3,159
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (52.1
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Proceeds from maturity of debt
                                                    securities
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            3,426
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            2,525
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            41.6
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Investments in term deposits
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (41,760
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (70,430
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (1,161.1
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Maturities of term deposits</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            42,682
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            68,447
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,128.4
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Loans granted</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (60
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (550
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (9.0
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Escrow cash deposit</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            58
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            -
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            -
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Net cash used in investing
                                                    activities
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;(11,676</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            <strong><strong>)</strong></strong></td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;(13,106</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            <strong><strong>)</strong></strong></td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;(216.1</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            <strong><strong>)</strong></strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">CASH FLOWS USED IN FINANCING
                                                    ACTIVITIES:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Proceeds from exercise of share
                                                    options
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            168
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            431
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            7.1
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Repurchases of convertible
                                                    debt
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (6,096
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (5,397
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (89.0
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Payment for contingent
                                                    consideration
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (124
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (152
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (2.5
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Other financing activities</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            29
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            97
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1.6
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Net cash used in financing
                                                    activities
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;(6,023</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            <strong><strong>)</strong></strong></td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;(5,021</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            <strong><strong>)</strong></strong></td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;(82.8</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            <strong><strong>)</strong></strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Effect of exchange rate changes
                                                    on cash and cash equivalents
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            4,716
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (3,328
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (54.9
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Net change in cash and cash
                                                    equivalents
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;6,593</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;3,994</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong><strong>&nbsp;65.8</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Cash and cash equivalents at
                                                    beginning of period
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            17,645
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            24,238
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            399.6
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Cash and cash equivalents at end
                                                    of period
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            24,238
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            28,232
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            465.4
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin"><em>* Derived from audited
                                                        financial statements</em>
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
</tbody>
</table>
<p><br></p>
<p class="text-align-center">
    <strong>YANDEX N.V.</strong>
    <br><br>
    <strong>RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES</strong>
    <br>
    <strong>TO THE NEAREST COMPARABLE U.S. GAAP MEASURES</strong>
    <br><br>
    <strong>Reconciliation of Ex-TAC Revenues to U.S. GAAP Revenues</strong>
</p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_top hugin">
            <strong><em><strong><em>In RUB millions</em></strong></em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin" colspan="3">
            <strong><strong>Three months ended
                            December&nbsp;31,&nbsp;</strong></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin" colspan="3">
            <strong><strong>Twelve months ended
                            December&nbsp;31,&nbsp;</strong></strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <strong><em><strong><em>&nbsp;</em></strong></em></strong></td>
        <td class="gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom gnw_border_right_solid hugin">
            <strong><strong>2015</strong></strong><strong><strong><br></strong></strong>
        </td>
        <td class="gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom gnw_border_right_solid hugin">
            <strong><strong>2016</strong></strong><strong><strong><br></strong></strong>
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <em><em>Change</em></em><em><em><br></em></em></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <strong><strong>2015</strong></strong><strong><strong><br></strong></strong>
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <strong><strong>2016</strong></strong><strong><strong><br></strong></strong>
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <em><em>Change</em></em><em><em><br></em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Total revenues
        </td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            18,094
        </td>

        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            22,119
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_padding_left_none hugin">
            <em><em>22</em></em><em><em>%</em></em></td>

        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            59,792
        </td>

        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            75,925
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_padding_left_none hugin">
            <em><em>27</em></em><em><em>%</em></em></td>

    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <em><em>Less: traffic acquisition costs (TAC)</em></em></td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            3,720
        </td>

        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            4,274
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_padding_left_none hugin">
            <em><em>15</em></em><em><em>%</em></em></td>

        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            12,741
        </td>

        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            14,950
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_padding_left_none hugin">
            <em><em>17</em></em><em><em>%</em></em></td>

    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Ex-TAC revenues
        </td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            14,374
        </td>

        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            17,845
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_padding_left_none hugin">
            <em><em>24</em></em><em><em>%</em></em></td>

        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            47,051
        </td>

        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            60,975
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_padding_left_none hugin">
            <em><em>30</em></em><em><em>%</em></em></td>

    </tr>
</tbody>
</table>
<p><br></p>
<p class="text-align-center">
    <strong>Reconciliation of Adjusted EBITDA to U.S. GAAP Net
            Income</strong>
</p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_top hugin">
            <strong><em><strong><em>In RUB millions</em></strong></em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="3">
            <strong><strong>Three months ended
                            December&nbsp;31,&nbsp;</strong></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="3">
            <strong><strong>Twelve months ended
                            December&nbsp;31,&nbsp;</strong></strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <strong><em><strong><em>&nbsp;</em></strong></em></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center gnw_border_right_solid hugin">
            <strong><strong>2015</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center gnw_border_right_solid hugin">
            <strong><strong>2016</strong></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <em><em>Change</em></em><em><em><br></em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center gnw_border_right_solid hugin">
            <strong><strong>2015</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center gnw_border_right_solid hugin">
            <strong><strong>2016</strong></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <em><em>Change</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Net income
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;2,851
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;1,213
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-57</em></em><em><em>%</em></em><em><em><br></em></em></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;9,679
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;6,783
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-30</em></em><em><em>%</em></em></td>

    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <em><em>Add: </em></em>depreciation and amortization
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;2,275
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;2,408
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>6</em></em><em><em>%</em></em><em><em><br></em></em></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;7,791
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;9,607
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>23</em></em><em><em>%</em></em></td>

    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <em><em>Add: </em></em>share-based compensation expense
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;893
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;865
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-3</em></em><em><em>%</em></em><em><em><br></em></em></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;2,718
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;3,422
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>26</em></em><em><em>%</em></em></td>

    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <em><em>Add: </em></em>compensation expense related to contingent
                                   consideration
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;88
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;91
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>3</em></em><em><em>%</em></em><em><em><br></em></em></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;291
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;245
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-16</em></em><em><em>%</em></em></td>

    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <em><em>Add:</em></em> goodwill impairment
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;576
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;-
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-100</em></em><em><em>%</em></em><em><em><br></em></em></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;576
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;-
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-100</em></em><em><em>%</em></em></td>

    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <em><em>Less:</em></em> interest income, net
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(489)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(344)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-30</em></em><em><em>%</em></em><em><em><br></em></em></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(1,744)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(1,655)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-5</em></em><em><em>%</em></em></td>

    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <em><em>Less: </em></em>other (income)/loss, net
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(1,137)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;1,154
        </td>

        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_right gnw_align_right hugin">
            <em><em>n/m</em></em><em><em><br></em></em></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(2,259)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;3,395
        </td>

        <td
                class="gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_right gnw_align_right hugin">
            <em><em>n/m</em></em></td>

    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <em><em>Add:</em></em> provision for income taxes
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;1,503
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;1,314
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-13</em></em><em><em>%</em></em><em><em><br></em></em></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;3,917
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;4,324
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>10</em></em><em><em>%</em></em></td>

    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Adjusted EBITDA
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;6,560
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;6,701
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>2</em></em><em><em>%</em></em><em><em><br></em></em></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;20,969
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;26,121
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>25</em></em><em><em>%</em></em></td>

    </tr>
</tbody>
</table>
<p><br></p>
<p class="text-align-center">
    <strong>Reconciliation of Adjusted Net Income to U.S. GAAP Net Income</strong>
</p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_top hugin">
            <strong><em><strong><em>In RUB millions</em></strong></em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="3">
            <strong><strong>Three months ended
                            December&nbsp;31,&nbsp;</strong></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin" colspan="3">
            <strong><strong>Twelve months ended
                            December&nbsp;31,&nbsp;</strong></strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <strong><em><strong><em>&nbsp;</em></strong></em></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center gnw_border_right_solid hugin">
            <strong><strong>2015</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center gnw_border_right_solid hugin">
            <strong><strong>2016</strong></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <em><em>Change</em></em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center gnw_border_right_solid hugin">
            <strong><strong>2015</strong></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center gnw_border_right_solid hugin">
            <strong><strong>2016</strong></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center hugin">
            <em><em>Change</em></em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Net income
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;2,851
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;1,213
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-57</em></em><em><em>%</em></em></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;9,679
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;6,783
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-30</em></em><em><em>%</em></em></td>

    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <em><em>Add:</em></em> SBC expense
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;893
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;865
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-3</em></em><em><em>%</em></em></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;2,718
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;3,422
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>26</em></em><em><em>%</em></em></td>

    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <em><em>Less: </em></em>reduction in income tax attributable to SBC
                                    expense
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(11)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;-
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-100</em></em><em><em>%</em></em></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(41)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(36)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-12</em></em><em><em>%</em></em></td>

    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <em><em>Add: </em></em>compensation expense related to contingent
                                   consideration
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;88
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;91
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>3</em></em><em><em>%</em></em></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;291
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;245
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-16</em></em><em><em>%</em></em></td>

    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <em><em>Less:</em></em> foreign exchange (gains)/losses
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(1,109)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;1,163
        </td>

        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center gnw_align_right hugin">
            <em><em>n/m</em></em></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(1,903)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;3,834
        </td>

        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_right hugin">
            <em><em>n/m</em></em></td>

    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <em><em>Add:</em></em> increase/(decrease) in income tax attributable to
                                   foreign exchange gains/(losses)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;216
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(234)
        </td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center gnw_align_right hugin">
            <em><em>n/m</em></em></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;355
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(775)
        </td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_right hugin">
            <em><em>n/m</em></em></td>

    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <em><em>Add: </em></em>goodwill impairment
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;576
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;-
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-100</em></em><em><em>%</em></em></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;576
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;-
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-100</em></em><em><em>%</em></em></td>

    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <em><em>Less: </em></em>gain from repurchases of convertible debt
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(67)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;-
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-100</em></em><em><em>%</em></em></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(310)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(53)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-83</em></em><em><em>%</em></em></td>

    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <em><em>Add:</em></em> increase in income tax attributable to gain from
                                   repurchases of convertible debt
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;16
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;-
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-100</em></em><em><em>%</em></em></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;77
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;13
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-83</em></em><em><em>%</em></em></td>

    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <em><em>Add: </em></em>amortization of debt discount
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;235
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;201
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-14</em></em><em><em>%</em></em></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;967
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;911
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-6</em></em><em><em>%</em></em></td>

    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            <em><em>Less: </em></em>reduction in income tax attributable to
                                    amortization of debt discount
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(56)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(50)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-11</em></em><em><em>%</em></em></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(230)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;(228)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-1</em></em><em><em>%</em></em></td>

    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Adjusted net income
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;3,632
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;3,249
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>-11</em></em><em><em>%</em></em></td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;12,179
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;14,116
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <em><em>16</em></em><em><em>%</em></em></td>

    </tr>
</tbody>
</table>
<p><br></p>
<p class="text-align-center">
    <strong>Reconciliation of Adjusted EBITDA Margin and Adjusted Ex-TAC
                                                        EBITDA Margin to U.S. GAAP Net Income Margin</strong>
</p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_top gnw_align_left hugin">
            <strong><em><strong><em>In RUB millions </em></strong></em></strong>
        </td>
        <td
                class="gnw_border_top_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin" colspan="6">
            <strong><strong>&nbsp;</strong></strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <strong><strong>U.S. <br>GAAP <br>Actual <br>Net
                <br>Income</strong></strong><strong><strong><br></strong></strong>
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <strong><strong>Net <br>Income <br>Margin <br>(1)</strong></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <strong><strong>Adjustment
                <br>(2)</strong></strong><strong><strong><br></strong></strong>
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <strong><strong>Adjusted
                <br>EBITDA</strong></strong><strong><strong><br></strong></strong>
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <strong><strong>Adjusted <br>EBITDA <br>Margin <br>(3)</strong></strong>
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <strong><strong>Adjusted <br>Ex-TAC <br>EBITDA <br>Margin
                            (4)</strong></strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Three months ended December&nbsp;31,&nbsp;2016
        </td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_right hugin">
            &nbsp;1,213
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            5.5%
        </td>

        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;5,488
        </td>

        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;6,701
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            30.3%
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            37.6%
        </td>

    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Twelve months ended December&nbsp;31,&nbsp;2016
        </td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;6,783
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            8.9%
        </td>

        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;19,338
        </td>

        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;26,121
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            34.4%
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            42.8%
        </td>

    </tr>
</tbody>
</table>
<p>
    (1) Net income
    margin is defined
    as net income
    divided by total
    revenues.
    <br>
    (2) Adjusted to
    eliminate
    depreciation and
    amortization
    expense, SBC
    expense, expense
    related to
    contingent
    compensation,
    interest income,
    net, other loss,
    net, and provision
    for income taxes.
    For a
    reconciliation of
    adjusted EBITDA to
    net income, please
    see the table
    above.
    <br>
    (3) Adjusted EBITDA
    margin is defined
    as adjusted EBITDA
    divided by total
    revenues.
    <br>
    (4) Adjusted ex-TAC
    EBITDA margin is
    defined as adjusted
    EBITDA divided by
    ex-TAC revenues.
    For a
    reconciliation of
    ex-TAC revenues to
    U.S. GAAP revenues,
    please see the
    table above.
</p>
<p><br></p>
<p class="text-align-center">
    <strong>Reconciliation of Adjusted Net Income Margin and Adjusted Ex-TAC
                                                        Net Income Margin to U.S. GAAP Net Income Margin</strong>
</p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_top gnw_align_left hugin">
            <strong><em><strong><em>In RUB millions </em></strong></em></strong>
        </td>
        <td
                class="gnw_border_top_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin" colspan="6">
            <strong><strong>&nbsp;</strong></strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <strong><strong>U.S. <br>GAAP <br>Actual <br>Net
                <br>Income</strong></strong><strong><strong><br></strong></strong>
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <strong><strong>Net <br>Income <br>Margin <br>(1)</strong></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <strong><strong>Adjustment
                <br>(2)</strong></strong><strong><strong><br></strong></strong>
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin" >
            <strong><strong>Adjusted <br>Net
                <br>Income</strong></strong><strong><strong><br></strong></strong>
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <strong><strong>Adjusted <br>Net <br>Income <br>Margin
                <br>(3)</strong></strong>
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin">
            <strong><strong>Adjusted <br>Ex-TAC <br>Net <br>Income <br>Margin
                            (4)</strong></strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Three months ended December&nbsp;31,&nbsp;2016
        </td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;1,213
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            5.5%
        </td>

        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;2,036
        </td>

        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;3,249
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            14.7%
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            18.2%
        </td>

    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom hugin">
            Twelve months ended December&nbsp;31,&nbsp;2016
        </td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;6,783
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            8.9%
        </td>

        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;7,333
        </td>

        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;14,116
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            18.6%
        </td>

        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            23.2%
        </td>

    </tr>
</tbody>
</table>
<p>
    (1) Net income
    margin is defined
    as net income
    divided by total
    revenues.
    <br>
    (2) Adjusted to
    eliminate SBC
    expense (as
    adjusted for the
    income tax
    reduction
    attributable to SBC
    expense), expense
    related to
    contingent
    compensation,
    foreign exchange
    losses (as adjusted
    for the decrease in
    income tax
    attributable to the
    losses), gain from
    repurchases of
    convertible debt
    (as adjusted for
    the increase in
    income tax
    attributable to the
    gain) and
    amortization of
    debt discount (as
    adjusted for the
    reduction in income
    tax attributable to
    the expense). For a
    reconciliation of
    adjusted net income
    to net income,
    please see the
    table above.
    <br>
    (3) Adjusted net
    income margin is
    defined as adjusted
    net income divided
    by total revenues.
    <br>
    (4) Adjusted ex-TAC
    net income margin
    is defined as
    adjusted net income
    divided by ex-TAC
    revenues. For a
    reconciliation of
    ex-TAC revenues to
    U.S. GAAP revenues,
    please see the
    table above.

</p>
<p><br></p>
<p><strong>Contacts:</strong>  <br><br>

Investor Relations<br>
Katya Zhukova<br>
Phone: +7 495 974-35-38<br>
E-mail: askIR@yandex-team.ru<br><br>

Media Relations<br>
Ochir Mandzhikov, Asya Melkumova <br>
Phone: +7 495 739-70-00<br>
E-mail: pr@yandex-team.ru</p>

