<p align="left">MOSCOW and AMSTERDAM, the Netherlands, April 25, 2018 (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 first quarter ended March 31, 2018.<br></p>
<h2>Q1 2018 Financial Highlights(1)(2)</h2>
<ul>
    <li style="text-align:left;"><strong>Revenues </strong>of RUB 26.6 billion ($464.0 million), up 29%
                                                                            compared with Q1 2017
    </li>
    <li style="text-align:left;"><strong>Net income</strong> of RUB&nbsp;1.9 billion ($32.3 million),
                                                                              up 126% compared with Q1
                                                                              2017;<strong> net income
                                                                                                    margin </strong>of
                                                                              7.0%
    </li>
    <li style="text-align:left;"><strong>Adjusted net income</strong> of RUB&nbsp;4.0 billion ($70.0
                                                                                       million), up 7% compared with Q1
                                                                                       2017; <strong>adjusted
                                                                                                             net income
                                                                                                             margin </strong>of
                                                                                       15.1%
    </li>
    <li style="text-align:left;"><strong>Adjusted EBITDA </strong>of RUB 7.7 billion ($134.5 million),
                                                                                   up 12% compared with Q1 2017;
        <strong>adjusted EBITDA margin </strong>of 29%
    </li>
    <li style="text-align:left;"><strong>Cash, cash equivalents and term deposits </strong>of RUB 95.2
                                                                                                            billion
                                                                                                            ($1,662.2
                                                                                                            million) as
                                                                                                            of March 31,
                                                                                                            2018,
                                                                                                            including
                                                                                                            cash, cash
                                                                                                            equivalents
                                                                                                            and term
                                                                                                            deposits of
                                                                                                            Yandex.Taxi
                                                                                                            in total
                                                                                                            amount of
                                                                                                            26.2 billion
                                                                                                            ($457.5
                                                                                                            million)
    </li>
</ul>
<h2>Q1 2018 Operational and Corporate Highlights</h2>
<ul>
    <li><strong>Share of Russian search market</strong>, including mobile, averaged 56.5% in Q1 2018,
                                                                        up from 54.7% in Q1 2017 and flat compared with
                                                                        56.5% in Q4 2017, according to Yandex.Radar
    </li>
    <li><strong>Search share on Android</strong> in Russia was 46.3% in Q1 2018, up from 45.0% in Q4
                                                                  2017 and 38.0% in Q1 2017
    </li>
    <li><strong>Search queries</strong> in Russia grew 10% compared with Q1 2017</li>
    <li><strong>Paid clicks</strong> on Yandex’s and its partners’ websites, in aggregate, increased 7%
                                                      compared with Q1 2017
    </li>
    <li>Average <strong>cost per click</strong> grew 8% compared with Q1 2017</li>
    <li><strong>Number of rides in the Taxi segment </strong>grew 222% year-on-year compared with Q1
                                                                              2017; this includes Uber rides since
                                                                              February 7, 2018
    </li>
    <li>On February 7, 2018, Yandex completed the combination of <strong>Yandex.Taxi</strong> and
        <strong>Uber</strong> in Russia and neighbouring countries
    </li>
    <li>Yandex created <strong>Media Services</strong> (KinoPoisk, Yandex.Music, Yandex.Afisha and
        Yandex.TV program) business unit
    </li>
    <li>Yandex launched <strong>Yandex.Drive</strong>, a car sharing service</li>
</ul>
<p>“2018 got off to a fast start with 29% year-over-year revenue growth,” said Arkady Volozh, Chief Executive Officer of
   Yandex. “Our investments are bearing fruit. Taxi, Classifieds and Media Services, our newest business unit, as well
   as our Experiments were key to accelerating revenue growth. Our business units and experiments, in aggregate,
   contributed over 20% of total revenues in the quarter.”&nbsp;</p>
<p>“The pace of innovation and new product launches continues,” said Greg Abovsky, Chief Operating Officer and Chief
   Financial Officer of Yandex. &nbsp;“We unveiled exciting new products this quarter, including Yandex.Drive, a
   by-the-minute car rental service, and Yandex.Cloud, our virtual cloud computing infrastructure, which is now in
   technical preview.”</p>
<p>The following table provides a summary of our key <strong>consolidated financial results</strong>
   for the three months ended March 31, 2017 and 2018:</p>
<table class="gnw_table gnw_table_type_short gnw_table_width_70_percent">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>In RUB millions</em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom" colspan="4">
            <strong>Three months ended March&nbsp;31,&nbsp;</strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>&nbsp;</em></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom">
            <strong>2017</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom">
            <strong>2018</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom" colspan="2">
            <em>Change</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Revenues
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            20,652
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            26,573
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid" colspan="2">
            <em>29</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Ex-TAC revenues<sup>2</sup></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            16,717
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            22,256
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid" colspan="2">
            <em>33</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Income from operations
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            3,375
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            3,159
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid" colspan="2">
            <em>-6</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Adjusted EBITDA<sup>2</sup></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            6,874
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            7,704
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid" colspan="2">
            <em>12</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Net income
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">819
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            1,851
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid" colspan="2">
            <em>126</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Adjusted net income<sup>2</sup></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            3,749
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            4,009
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid" colspan="2">
            <em>7%</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 57.2649 to $1.00, the official exchange rate quoted as of March 31, 2018 by the Central
   Bank of the Russian Federation.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>(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.</p>
<p><strong>Consolidated revenues breakdown</strong></p>
<table class="gnw_table gnw_table_type_short gnw_table_width_70_percent">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>In RUB millions</em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom" colspan="3">
            <strong>Three months ended March&nbsp;31,&nbsp;</strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>&nbsp;</em></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom">
            <strong>2017</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom">
            <strong>2018</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom"><em>Change</em>
        </td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Online advertising revenues:
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <em>&nbsp; Yandex properties</em></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            &nbsp;14,356
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            &nbsp;17,475
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_padding_left_none gnw_align_right">
            <em>22</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <em>&nbsp; Advertising network</em></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            &nbsp;5,159
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            &nbsp;5,365
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_padding_left_none gnw_align_right">
            <em>4</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Total online advertising revenues
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            &nbsp;19,515
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            &nbsp;22,840
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_padding_left_none gnw_align_right">
            <em>17</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Other
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            &nbsp;1,137
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            &nbsp;3,733
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_padding_left_none gnw_align_right">
            <em>228</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Total revenues
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            &nbsp;20,652
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            &nbsp;26,573
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_padding_left_none gnw_align_right">
            <em>29</em><em>%</em></td>
    </tr>
</tbody>
</table>
<p><strong>Online advertising revenues</strong> grew 17% in Q1 2018 compared with Q1 2017 and generated
                                                                 86% of total revenues. Online advertising revenues
                                                                 include revenues derived from performance and brand
                                                                 advertising on Yandex properties and in our advertising
                                                                 network.</p>
<p><strong>Online advertising revenues from Yandex properties</strong> increased 22% in Q1 2018
                                                                                        compared with Q1 2017 and
                                                                                        accounted for 66% of total
                                                                                        revenues.</p>
<p><strong>Online advertising revenues from our advertising network</strong> increased 4% in Q1 2018
                                                                                              compared with Q1 2017 and
                                                                                              accounted for 20% of total
                                                                                              revenues.</p>
<p><strong>Other revenues</strong> grew 228% in Q1 2018 compared with Q1 2017, and amounted to 14% of
                                                    total revenues. The growth was mainly driven by increase in
                                                    Yandex.Taxi revenues.</p>
<p><strong>Segment revenues</strong></p>
<table class="gnw_table gnw_table_type_short gnw_table_width_70_percent">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>In RUB millions</em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom" colspan="3">
            <strong>Three months ended March&nbsp;31,&nbsp;</strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>&nbsp;</em></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_center">
            <strong>2017</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_center">
            <strong>2018</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom"><em>Change</em>
        </td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Revenues:
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom"><strong>&nbsp;</strong>
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom"><strong>&nbsp;</strong>
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom"><strong>&nbsp;</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">
            Search and Portal
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid">
            &nbsp;18,671
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid">
            &nbsp;22,285
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>19</em><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">
            E-commerce
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid">
            &nbsp;1,295
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid">
            &nbsp;1,255
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid">
            <em>-3%</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">
            Taxi
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid">
            &nbsp;778
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid">
            &nbsp;3,116
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>301</em><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">
            Classifieds
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid">
            &nbsp;367
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid">
            &nbsp;706
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>92</em><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">
            Media Services
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid">
            &nbsp;244
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid">
            &nbsp;421
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>73</em><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">
            Experiments
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid">
            &nbsp;66
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid">
            &nbsp;182
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>176</em><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">
            Eliminations
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            &nbsp;(769)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            &nbsp;(1,392)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>81</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Total revenues
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid">
            &nbsp;20,652
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid">
            &nbsp;26,573
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>29</em><em>%</em></td>
    </tr>
</tbody>
</table>
<p><em>In Q1 2018 we introduced the following changes to our segments structure:</em></p>
<p><em>Search and Portal segment (including Geolocation Services) offers a broad range of services in Russia,
           Belarus and Kazakhstan (and, for periods prior to the imposition of sanctions on Yandex by the government of
           Ukraine in May 2017, all our services offered in Ukraine), other than those described below. Since Q1 2018
           our Search and Portal segment also includes Search and Portal in Turkey and Yandex Launcher, previously
           reported in Experiments and Yandex.Travel, previously reported in Classifieds. </em><br><em>E-commerce
                                                                                                                segment
                                                                                                                includes
                                                                                                                our
                                                                                                                Yandex.Market
                                                                                                                service;</em><br><em>Taxi
                                                                                                                                              segment
                                                                                                                                              includes
                                                                                                                                              our
                                                                                                                                              Taxi
                                                                                                                                              business
                                                                                                                                              (including
                                                                                                                                              Yandex.Taxi
                                                                                                                                              and
                                                                                                                                              Uber
                                                                                                                                              in
                                                                                                                                              Russia
                                                                                                                                              and
                                                                                                                                              neighboring
                                                                                                                                              countries)
                                                                                                                                              and
                                                                                                                                              Food
                                                                                                                                              Delivery
                                                                                                                                              business
                                                                                                                                              (including
                                                                                                                                              Yandex.EATs
                                                                                                                                              and
                                                                                                                                              UberEATs);</em><br><em>Classifieds
                                                                                                                                                                              segment
                                                                                                                                                                              includes
                                                                                                                                                                              Auto.ru,
                                                                                                                                                                              Yandex.Realty
                                                                                                                                                                              and
                                                                                                                                                                              Yandex.Jobs; </em><br><em>Media
                                                                                                                                                                                                                 Services
                                                                                                                                                                                                                 segment
                                                                                                                                                                                                                 includes
                                                                                                                                                                                                                 KinoPoisk,
                                                                                                                                                                                                                 Yandex.Music,
                                                                                                                                                                                                                 Yandex.Afisha
                                                                                                                                                                                                                 and
                                                                                                                                                                                                                 Yandex.TV
                                                                                                                                                                                                                 program;
                                                                                                                                                                                                                 Media
                                                                                                                                                                                                                 Services
                                                                                                                                                                                                                 were
                                                                                                                                                                                                                 broken
                                                                                                                                                                                                                 out
                                                                                                                                                                                                                 from
                                                                                                                                                                                                                 Experiments
                                                                                                                                                                                                                 and
                                                                                                                                                                                                                 now
                                                                                                                                                                                                                 constitute
                                                                                                                                                                                                                 a
                                                                                                                                                                                                                 separate
                                                                                                                                                                                                                 business
                                                                                                                                                                                                                 unit;</em><br><em>Experiments
                                                                                                                                                                                                                                            segment
                                                                                                                                                                                                                                            includes
                                                                                                                                                                                                                                            Zen,
                                                                                                                                                                                                                                            Yandex.Cloud,
                                                                                                                                                                                                                                            Yandex.Health,
                                                                                                                                                                                                                                            Yandex.Drive
                                                                                                                                                                                                                                            and
                                                                                                                                                                                                                                            Yandex
                                                                                                                                                                                                                                            Data
                                                                                                                                                                                                                                            Factory.
                                                                                                                                                                                                                                            Yandex.Cloud
                                                                                                                                                                                                                                            and
                                                                                                                                                                                                                                            Yandex.Health
                                                                                                                                                                                                                                            initiatives
                                                                                                                                                                                                                                            previously
                                                                                                                                                                                                                                            were
                                                                                                                                                                                                                                            a
                                                                                                                                                                                                                                            part
                                                                                                                                                                                                                                            of
                                                                                                                                                                                                                                            our
                                                                                                                                                                                                                                            Search
                                                                                                                                                                                                                                            and
                                                                                                                                                                                                                                            Portal
                                                                                                                                                                                                                                            segment.
                                                                                                                                                                                                                                            Yandex.Drive
                                                                                                                                                                                                                                            is
                                                                                                                                                                                                                                            our
                                                                                                                                                                                                                                            car
                                                                                                                                                                                                                                            sharing
                                                                                                                                                                                                                                            service,
                                                                                                                                                                                                                                            launched
                                                                                                                                                                                                                                            in
                                                                                                                                                                                                                                            February
                                                                                                                                                                                                                                            2018.</em><br><em>Eliminations
                                                                                                                                                                                                                                                                       represent
                                                                                                                                                                                                                                                                       the
                                                                                                                                                                                                                                                                       elimination
                                                                                                                                                                                                                                                                       of
                                                                                                                                                                                                                                                                       transactions
                                                                                                                                                                                                                                                                       between
                                                                                                                                                                                                                                                                       the
                                                                                                                                                                                                                                                                       reportable
                                                                                                                                                                                                                                                                       segments,
                                                                                                                                                                                                                                                                       primarily
                                                                                                                                                                                                                                                                       related
                                                                                                                                                                                                                                                                       to
                                                                                                                                                                                                                                                                       advertising.</em><br><em>Prior
                                                                                                                                                                                                                                                                                                         periods
                                                                                                                                                                                                                                                                                                         were
                                                                                                                                                                                                                                                                                                         restated
                                                                                                                                                                                                                                                                                                         to
                                                                                                                                                                                                                                                                                                         conform
                                                                                                                                                                                                                                                                                                         to
                                                                                                                                                                                                                                                                                                         the
                                                                                                                                                                                                                                                                                                         current
                                                                                                                                                                                                                                                                                                         year
                                                                                                                                                                                                                                                                                                         presentation.</em>
</p>
<p><strong>Consolidated Operating Costs and Expenses</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) and depreciation and amortization expenses (D&amp;A). Apart from D&amp;A, each of
   the above expense categories include 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 Q1
   2018 Yandex's headcount increased by 689 full-time employees. The total number of full-time employees was 8,134 as of
   March 31, 2018, up by 9% compared with December 31, 2017, and up 25% from March 31, 2017.</p>
<p><strong>Cost of revenues, including traffic acquisition
                                                                                                    costs (TAC)</strong></p>
<table class="gnw_table gnw_table_type_short gnw_table_width_70_percent">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>In RUB millions</em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom" colspan="3">
            <strong>Three months ended March&nbsp;31,&nbsp;</strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>&nbsp;</em></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_center">
            <strong>2017</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_center">
            <strong>2018</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom"><em>Change</em>
        </td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            TAC:
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            <em>&nbsp;</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Related to the Yandex advertising network
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            2,896
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            3,168
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>9</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Related to distribution partners
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            1,039
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            1,149
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>11</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Total TAC
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            3,935
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            4,317
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>10</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <em>Total TAC as a % of total revenues</em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>19.1</em><em>%</em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>16.2</em><em>%</em></td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            <em>&nbsp;</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Other cost of revenues
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            1,413
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            2,395
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>69</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <em>Other cost of revenues as a % of revenues</em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>6.8</em><em>%</em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>9.0</em><em>%</em></td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            <em>&nbsp;</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Total cost of revenues
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            5,348
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            6,712
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>26</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <em>Total cost of revenues as a % of revenues</em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>25.9</em><em>%</em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>25.3</em><em>%</em></td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            <em>&nbsp;</em></td>
    </tr>
</tbody>
</table>
<p>TAC grew 10% in Q1 2018 compared with Q1 2017 and represented 16.2% of total revenues, 290 basis points lower than in
   Q1 2017 and 100 basis points lower compared with Q4 2017 due to revenue mix effect.</p>
<p><strong>Other cost of revenues</strong> in Q1 2018 increased 69% compared with Q1 2017, mainly due
                                                            to an increase of Taxi related outsourced costs and services
                                                            provided to Taxi corporate clients, for which revenue and
                                                            related costs are recorded on a gross basis.</p>
<p><strong>Product development</strong></p>
<table class="gnw_table gnw_table_type_short gnw_table_width_70_percent">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>In RUB millions</em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom" colspan="3">
            <strong>Three months ended March&nbsp;31,&nbsp;</strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>&nbsp;</em></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_center">
            <strong>2017</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_center">
            <strong>2018</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom"><em>Change</em>
        </td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Product development
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            4,518
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            5,803
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>28</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <em>As a % of revenues</em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>21.9</em><em>%</em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>21.8</em><em>%</em></td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            &nbsp;
        </td>
    </tr>
</tbody>
</table>
<p>Product development expenses grew in line with revenues, driven by new hires, salary increases as well as growth of
   the share-based compensation in Q1 2018.</p>
<p><strong>Sales, general and administrative (SG&amp;A)</strong></p>
<table class="gnw_table gnw_table_type_short gnw_table_width_70_percent">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>In RUB millions</em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom" colspan="3">
            <strong>Three months ended March&nbsp;31,&nbsp;</strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>&nbsp;</em></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_center">
            <strong>2017</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_center">
            <strong>2018</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom"><em>Change</em>
        </td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Sales, general and administrative
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            4,948
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            8,009
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>62</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <em>As a % of revenues</em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>24.0</em><em>%</em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>30.1</em><em>%</em></td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            <em>&nbsp;</em></td>
    </tr>
</tbody>
</table>
<p>SG&amp;A expenses grew 62% in Q1 2018 compared to Q1 2017. The growth was mainly driven by our continuing investments
   in advertising and marketing to support our business units and by the growth of personnel costs due to new hires.</p>
<p><strong>Share-based compensation (SBC) expense</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 gnw_table_type_short gnw_table_width_70_percent">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>In RUB millions</em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom" colspan="4">
            <strong>Three months ended March&nbsp;31,&nbsp;</strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>&nbsp;</em></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_center">
            <strong>2017</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_center">
            <strong>2018</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom" colspan="2">
            <em>Change</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            SBC expense included in cost of revenues
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            42
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            36
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right" colspan="2">
            <em>-14</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            SBC expense included in product development
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            576
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            1,146
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right" colspan="2">
            <em>99</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            SBC expense included in SG&amp;A
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            340
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            451
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right" colspan="2">
            <em>33</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Total SBC expense
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            958
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            1,633
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right" colspan="2">
            <em>70</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <em>As a % of revenues</em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            <em>4.6%</em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            <em>6.1%</em></td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right" colspan="2">
            &nbsp;
        </td>
    </tr>
</tbody>
</table>
<p>Total SBC expense increased 70% in Q1 2018 compared with Q1 2017. The acceleration of growth rates of our total SBC
   expense is primarily related to new equity-based grants made in 2017 and early 2018.</p>
<p><strong>Depreciation and amortization (D&amp;A)
                                                                                                    expense</strong></p>
<table class="gnw_table gnw_table_type_short gnw_table_width_70_percent">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>In RUB millions</em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom" colspan="3">
            <strong>Three months ended March&nbsp;31,&nbsp;</strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>&nbsp;</em></strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_center">
            <strong>2017</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_center">
            <strong>2018</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom"><em>Change</em>
        </td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Depreciation and amortization
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid">
            2,463
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid">
            2,890
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid gnw_padding_left_none">
            <em>17</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <em>As a % of revenues</em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid gnw_padding_left_none">
            <em>11.9</em><em>%</em></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid gnw_padding_left_none">
            <em>10.9</em><em>%</em></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            <em>&nbsp;</em></td>
    </tr>
</tbody>
</table>
<p>D&amp;A expense increased 17% in Q1 2018 compared with Q1 2017. D&amp;A expense growth rate primarily reflects our
   investments in servers and data center equipment connected with the launch of our new data center in Vladimir,
   Russia, in 2017.</p>
<p><strong>Income from operations</strong></p>
<table class="gnw_table gnw_table_type_short gnw_table_width_70_percent">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>In RUB millions</em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom" colspan="3">
            <strong>Three months ended March&nbsp;31,&nbsp;</strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>&nbsp;</em></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom">
            <strong>2017</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom">
            <strong>2018</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom"><em>Change</em>
        </td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Income from operations
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            3,375
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            3,159
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid">
            <em>-6%</em></td>
    </tr>
</tbody>
</table>
<p>Income from operations decreased 6% in Q1 2018 compared with Q1 2017.</p>
<p><strong><br></strong></p>
<p><strong>Adjusted EBITDA</strong></p>
<p>Consolidated adjusted EBITDA</p>
<table class="gnw_table gnw_table_type_short gnw_table_width_70_percent">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>In RUB millions</em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom" colspan="3">
            <strong>Three months ended March&nbsp;31,&nbsp;</strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>&nbsp;</em></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom">
            <strong>2017</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom">
            <strong>2018</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom"><em>Change</em>
        </td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Adjusted EBITDA
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_right">
            6,874
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_right">
            7,704
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_padding_left_none gnw_align_right">
            <em>12</em><em>%</em></td>
    </tr>
</tbody>
</table>
<p>Adjusted EBITDA increased 12% in Q1 2018 compared with Q1 2017.</p>
<p>Adjusted EBITDA by segments</p>
<table class="gnw_table gnw_table_type_short gnw_table_width_70_percent">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>In RUB millions</em></strong></td>
        <td
                class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom" colspan="3">
            <strong>Three months ended March&nbsp;31,&nbsp;</strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>&nbsp;</em></strong></td>
        <td
                class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center">
            <strong>2017</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center">
            <strong>2018</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom"><em>Change</em>
        </td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Adjusted EBITDA:
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom"><strong>&nbsp;</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">
            Search and Portal
        </td>
        <td
                class="gnw_border_right_solid  gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;7,901
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;10,367
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid">
            <em>31</em><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">
            E-commerce
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;560
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(162)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid">
            <em>-129%</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">
            Taxi
        </td>
        <td
                class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(1,245)
        </td>
        <td
                class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(1,712)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid">
            <em>38</em><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">
            Classifieds
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;3
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(287)
        </td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid">
            <em>n/m</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">
            Media Services
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(150)
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(97)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_border_right_solid">
            <em>-35%</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">
            Experiments
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(195)
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(405)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid">
            <em>108</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Total adjusted EBITDA
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;6,874
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;7,704
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid">
            <em>12</em><em>%</em></td>
    </tr>
</tbody>
</table>
<p>Adjusted EBITDA of Taxi was negative RUB 1,712 million in Q1 2018. The increase in Adjusted EBITDA loss was driven by
   the addition of the acquired Uber business on February 7, 2018, as well as our investments in our Food Delivery
   business.</p>
<p><strong>Interest income</strong>&nbsp; in Q1 2018 was RUB 708 million, flat compared with RUB 709
                                                    million in Q1 2017.</p>
<p><strong>Interest expense</strong> in Q1 2018 was RUB 221 million, slightly down from RUB 228 million
                                                      in Q1 2017.</p>
<p><strong>Foreign exchange</strong> <strong>loss</strong> in Q1 2018 was RUB 482 million, compared
                                                                            with a foreign exchange loss of RUB 2,205
                                                                            million in Q1 2017. This loss reflects the
                                                                            appreciation of the Russian ruble during Q1
                                                                            2018 from RUB 57.6002 to $1.00 on December
                                                                            31, 2017, to RUB 57.2649 to $1.00 on March
                                                                            31, 2018. 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 the Other
                                                                            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 Q1 2018.</p>
<p><strong>Income tax expense </strong>for Q1 2018 was RUB 1,395 million, up from RUB 782 million in Q1
                                                        2017. Our effective tax rate of 43.0% in Q1 2018 was lower than
                                                        in Q1 2017, primarily due to the effects of certain tax
                                                        provisions recognized in Q1 2017 related to the results of prior
                                                        years' tax audits. Adjusted for the similar tax effects, SBC
                                                        expense and also for deferred tax asset valuation allowances
                                                        provided on operations of our newly acquired Uber and Foodfox
                                                        businesses, our effective tax rate for Q1 2018 was 23.5%,
                                                        compared with 23.8% for Q1 2017.</p>
<p><strong>Net income</strong> was RUB 1.9 billion ($32.3 million) in Q1 2018, up 126% compared with Q1
                                                2017, mainly due to higher foreign exchange loss in Q1 2017 compared
                                                with Q1 2018.</p>
<p><strong>Adjusted net income </strong>in Q1 2018 was RUB 4.0 billion ($70.0 million), an 7% increase
                                                         from Q1 2017.</p>
<p><strong>Adjusted net income margin</strong> was 15.1% in Q1 2018, compared with 18.2% in Q1 2017.
</p>
<p>As of March 31, 2018, Yandex had<strong> cash, cash equivalents and term deposits </strong>of RUB
   95.2 billion ($1,662.2 million), including cash, cash equivalents and term deposits of Yandex.Taxi in total amount of
   26.2 billion ($457.5 million).</p>
<p><strong>Net cash flow provided by operating activities </strong>for Q1 2018 was RUB 5.2 billion
                                                                                    ($90.6 million) and<strong>
        capital expenditures </strong>were RUB 1.2 billion ($20.2 million).</p>
<p>During Q1 2018 there were no repurchases of convertible debt notes.</p>
<p><strong>Redeemable noncontrolling interests</strong> presented in our condensed consolidated balance
                                                                         sheets relate to the equity incentive
                                                                         arrangements we have made available to the
                                                                         senior employees of the 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>total number of shares issued and outstanding </strong>as of March 31, 2018 was
   327,690,428 including 289,805,769 Class A shares, 37,884,658 Class B shares, and one Priority share and excluding
   2,625,886 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 3.4 million shares, at a weighted
   average exercise price of $31.37 per share, 0.8 million of which were fully vested; equity-settled share appreciation
   rights (SARs) for 0.2 million shares, at a weighted average measurement price of $32.18, all of which, excluding SARs
   for approximately 1,000 shares, were fully vested; and restricted share units (RSUs) covering 13.0 million shares, of
   which RSUs to acquire 4.3 million shares were fully vested. Equity awards in respect of business unit subsidiaries
   are described under Redeemable noncontrolling interests above.</p>
<h2>Financial outlook</h2>
<p>Based on our recent performance, we currently expect our consolidated ruble-based revenue to grow in the range of 28%
   to 32% for the full year 2018 compared with 2017.</p>
<p>We announced our proposed E-commerce joint venture in December 2017; upon closing of that transaction, which we
   expect will occur in Q2 2018, we will stop including the full results of that business in our consolidated financial
   statements.&nbsp; We believe that the impact of the potential deconsolidation of our E-commerce business on our
   consolidated revenues growth rates will not be material and therefore will not affect our consolidated ruble-based
   revenue guidance.</p>
<p>Based on the recent performance of Search and Portal, we now expect our Search and Portal ruble-based revenue growth
   to be in the range of 19% to 21% in the full year 2018 compared with 2017.</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 April 25, 2018 at 8:00 AM U.S. Eastern Time (3:00 PM
   Moscow time; 1:00 PM London time).</p>
<p>To access the conference call live, please dial:</p>
<p>US: +1 646 828 8143<br>UK/International: +44 (0) 330 336 9411<br>Russia: 8 800 500 9283<br>Passcode: 3020878</p>
<p>A replay of the call will be available until May 2, 2018. To access the replay, please dial:</p>
<p>US: +1 719 457 0820<br>UK/International: +44 (0) 207 660 0134<br>Russia: 810 800 2702 1012<br>Passcode: 3020878</p>
<p>A live and archived webcast of this conference call will be available at</p>
<p>https://edge.media-server.com/m6/p/6stvs5wd</p>
<h2>ABOUT YANDEX</h2>
<p>Yandex (NASDAQ:YNDX) 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 18 offices
   worldwide, has been listed on the NASDAQ since 2011.<br>More information on Yandex can be found at
   https://yandex.com/company.</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 2018. 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, 2017, which is on file with the U.S. Securities and Exchange Commission (SEC) and is available on
   our investor relations website at http://ir.yandex.com/sec.cfm and on the SEC website at www.sec.gov. All information
   in this release and in the attachments is as of April 25, 2018, 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>
    <li><strong>Ex-TAC revenues</strong> means U.S. GAAP revenues <u>less</u> total traffic acquisition
                                                          costs (TAC)
    </li>
    <li><strong>Adjusted EBITDA </strong>means U.S. GAAP net income <u>plus</u> (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) interest expense, (5) other loss, net, and
                                                          (6)&nbsp;provision for income taxes, <u>less</u> interest
                                                          income
    </li>
    <li><strong>Adjusted EBITDA margin</strong> means adjusted EBITDA <u>divided</u> by U.S. GAAP
                                                                 revenues
    </li>
    <li><strong>Adjusted ex-TAC EBITDA margin</strong> means adjusted EBITDA <u>divided</u> by ex-TAC
                                                                        revenues
    </li>
    <li><strong>Adjusted net income</strong> means U.S. GAAP net income <u>plus</u> (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) foreign exchange losses adjusted for
                                                              reduction in income tax attributable to foreign exchange
                                                              losses, (4) losses from repurchases of our convertible
                                                              notes adjusted for the related decrease in income tax, and
                                                              (5) amortization of debt discount related to our
                                                              convertible debt adjusted for the related reduction in
                                                              income tax
    </li>
    <li><strong>Adjusted net income margin </strong>means adjusted net income <u>divided</u> by U.S.
                                                                     GAAP revenues
    </li>
    <li><strong>Adjusted ex-TAC net income margin </strong>means adjusted net income <u>divided</u> 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>TAC</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>SBC</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>Acquisition-related costs</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>Foreign exchange losses</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>Amortization of debt discount</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>Gains and losses from repurchases of convertible debt</em></p>
<p>Adjusted net income is also adjusted for a loss from the repurchase of $8.0 million in principal of our 1.125%
   convertible senior notes due 2018 for approximately $7.7 million that we recorded in Q1 2017. We have eliminated this
   loss 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"><br></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 gnw_table_type_long">
<tbody>
    <tr>
        <td class="gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom" colspan="8">
            <strong>As of</strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center" colspan="2">
            <strong>December&nbsp;31,</strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center"><strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center" colspan="2">
            <strong>March&nbsp;31,&nbsp;</strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center"><strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center" colspan="2">
            <strong>March&nbsp;31,&nbsp;</strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_center" colspan="2">
            <strong>2017*</strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center"><strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center">
            <strong>2018</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_bottom gnw_align_center">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom gnw_align_center"><strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center">
            <strong>2018</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_align_center gnw_vertical_align_bottom" colspan="2"><strong>RUB</strong>
        </td>
        <td class="gnw_align_center gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_align_center gnw_vertical_align_bottom" colspan="2"><strong>RUB</strong>
        </td>
        <td class="gnw_align_center gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_align_center gnw_vertical_align_bottom" colspan="2"><strong>$</strong>
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom"><strong>ASSETS</strong></td>
        <td class="gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Current assets:</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Cash and cash equivalents</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;42,662</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;46,443</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;811.0</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Term deposits</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;23,040</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;44,667</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;780.0</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Accounts receivable, net</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;9,746</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;10,303</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;179.9</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Prepaid expenses</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;1,269</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;1,633</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;28.6</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Other current assets</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;4,039
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;3,533
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;61.7
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Total current assets</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;80,756</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;106,579</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;1,861.2</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Property and equipment, net</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;21,171</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;24,180</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;422.2</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Intangible assets, net</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;5,023</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;12,184</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;212.8</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Goodwill</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;9,328</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;51,471</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;898.8</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Long-term prepaid expenses</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;1,788</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;1,576</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;27.5</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Term deposits, non-current</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;5,005</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;4,077</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;71.2</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Investments in non-marketable equity securities</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;2,001</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;6,568</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;114.7</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Deferred tax assets</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;2,171</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;2,451</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;42.8</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Other non-current assets</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;3,301
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;3,819
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;66.7
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom"><strong>TOTAL ASSETS</strong></td>
        <td class="gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            <strong>&nbsp;130,544</strong></td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            <strong>&nbsp;212,905</strong></td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            <strong>&nbsp;3,717.9</strong></td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom"><strong>LIABILITIES AND SHAREHOLDERS’
                                                                    EQUITY</strong></td>
        <td class="gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Current liabilities:</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Accounts payable and accrued liabilities</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;11,111</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;16,837</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;294.0</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Taxes payable</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;4,213</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;3,103</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;54.2</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Deferred revenue</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;2,464</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;2,191</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;38.3</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Convertible debt</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;17,834
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;17,903
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;312.6
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Total current liabilities</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;35,622</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;40,034</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;699.1</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Deferred tax liabilities</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;959</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;1,970</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;34.4</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Other accrued liabilities</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;1,316
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;576
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;10.1
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Total liabilities</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;37,897</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;42,580</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;743.6</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Commitments and contingencies</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Redeemable noncontrolling interests</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;9,821</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;6,014</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;105.0</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Shareholders’ equity:</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Priority share: €1.00 par value; 1 share authorized, issued and
                                                    outstanding
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">—</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">—</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">—</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Preference shares: €0.01 par value; 1,000,000,001 shares authorized,
                                                    nil shares issued and outstanding
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">—</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">—</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">—</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">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:
                                                    46,997,887 and Class C: 46,997,887); shares issued (Class A:
                                                    289,364,467 and 292,431,655, Class B: 40,692,286 and 37,884,658, and
                                                    Class C: 4,166,448 and 6,974,076, respectively); shares outstanding
                                                    (Class A: 285,612,556 and 289,805,769, Class B: 40,692,286 and
                                                    37,884,658, and Class C: nil)
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;271</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;264</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;4.6</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Treasury shares at cost (Class A: 3,751,911 and 2,625,886,
                                                    respectively)
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(3,814</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(2,516</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(43.9</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Additional paid-in capital</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;16,469</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;67,218</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;1,173.8</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Accumulated other comprehensive income</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;1,864</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;2,480</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;43.3</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Retained earnings</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;68,036
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;74,169
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;1,295.2
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Total equity attributable to Yandex N.V.</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;82,826</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;141,615</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;2,473.0</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Noncontrolling interests</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;-
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;22,696
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;396.3
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Total shareholders’ equity</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            82,826
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;164,311
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;2,869.3
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom"><strong>TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY</strong>
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            <strong>&nbsp;130,544</strong></td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            <strong>&nbsp;212,905</strong></td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            <strong>&nbsp;3,717.9</strong></td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
    </tr>
</tbody>
</table>
<p>*&nbsp;<em>Derived from audited consolidated financial statements</em></p>
<p class="text-align-center"><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 gnw_table_type_long">
<tbody>
    <tr>
        <td class="gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom" colspan="8">
            <strong>Three months ended March&nbsp;31,&nbsp;</strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center">
            <strong>2017</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_bottom gnw_align_center">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom gnw_align_center"><strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center">
            <strong>2018</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_bottom gnw_align_center">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom gnw_align_center"><strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center">
            <strong>2018</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_center gnw_vertical_align_bottom" colspan="2"><strong>RUB</strong>
        </td>
        <td class="gnw_align_center gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_align_center gnw_vertical_align_bottom" colspan="2"><strong>RUB</strong>
        </td>
        <td class="gnw_align_center gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_align_center gnw_vertical_align_bottom" colspan="2"><strong>$</strong>
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Revenues</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">20,652</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">26,573</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">464.0</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Operating costs and expenses:</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Cost of revenues(1)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">5,348</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">6,712</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">117.2</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Product development(1)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">4,518</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">5,803</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">101.3</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Sales, general and administrative(1)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">4,948</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">8,009</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">139.9</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Depreciation and amortization</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            2,463
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            2,890
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            50.5
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Total operating costs and expenses</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            17,277
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            23,414
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            408.9
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Income from operations</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">3,375</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">3,159</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">55.1</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Interest income</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">709</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">708</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">12.4</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Interest expense</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(228</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(221</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(3.9</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Other loss, net</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(2,255
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(400
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(6.9
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Net income before income taxes</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">1,601</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">3,246</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">56.7</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Provision for income taxes</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">782
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            1,395
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            24.4
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Net income</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">819
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            1,851
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            32.3
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Net loss attributable to noncontrolling interests</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;16
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">529
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">9.3
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Net income attributable to Yandex N.V.</td>
        <td class="gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            <strong>835</strong></td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            <strong>2,380</strong></td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            <strong>41.6</strong></td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Net income per Class&nbsp;A and Class&nbsp;B share:</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Basic</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            2.58
        </td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            7.28
        </td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            0.13
        </td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Diluted</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            2.54
        </td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            7.10
        </td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            0.12
        </td>
        <td class="gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Weighted average number of Class A and Class B shares outstanding&nbsp;
                                                    &nbsp; &nbsp; &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Basic</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">323,245,441</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">327,066,686</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">327,066,686</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Diluted</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">328,457,556</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">335,239,879</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">335,239,879</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
    </tr>
</tbody>
</table>
<table class="gnw_table gnw_table_type_long" >
<tbody>
    <tr>
        <td class="gnw_vertical_align_top">(1)&nbsp;</td>
        <td class="gnw_vertical_align_top">These balances exclude depreciation and amortization expenses, which
                                                 are presented separately, and include share-based compensation expenses
                                                 of:&nbsp;
        </td>
    </tr>
</tbody>
</table>
<table class="gnw_table gnw_table_type_long">
<tbody>
    <tr>
        <td class="gnw_vertical_align_bottom">Cost of revenues</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">42</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">36</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">0.6</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Product development</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">576</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">1,146</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">20.0</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Sales, general and administrative&nbsp; &nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">340</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">451</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_bottom">7.9</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
</tbody>
</table>
<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 gnw_table_type_long" >
<tbody>
    <tr>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom" colspan="8">
            <strong>Three months ended March&nbsp;31,&nbsp;</strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center">
            <strong>2017</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_bottom gnw_align_center">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom gnw_align_center"><strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center">
            <strong>2018</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_bottom gnw_align_center">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom gnw_align_center"><strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center">
            <strong>2018</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_align_center gnw_vertical_align_bottom" colspan="2"><strong>RUB</strong>
        </td>
        <td class="gnw_align_center gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_align_center gnw_vertical_align_bottom" colspan="2"><strong>RUB</strong>
        </td>
        <td class="gnw_align_center gnw_vertical_align_bottom"><strong>&nbsp;</strong></td>
        <td class="gnw_align_center gnw_vertical_align_bottom" colspan="2"><strong>$</strong>
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">CASH FLOWS PROVIDED BY OPERATING ACTIVITIES:</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Net income</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;819</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;1,851</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;32.3</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Adjustments to reconcile net income to net cash provided by
                                                    operating activities:&nbsp; &nbsp; &nbsp; &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Depreciation of property and equipment</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;1,965</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;2,352</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;41.1</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Amortization of intangible assets</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;498</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;538</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;9.4</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Amortization of debt discount and issuance costs</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;173</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;170</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;3.0</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Share-based compensation expense</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;958</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;1,633</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;28.5</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Deferred income taxes</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;17</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(711</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(12.4</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Foreign exchange losses</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;2,205</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;482</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;8.4</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Losses from repurchases of convertible debt</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;3</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;-</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;-</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Other</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;77</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(150</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(2.6</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Changes in operating assets and liabilities excluding the effect of
                                                    acquisitions:
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Accounts receivable, net</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;144</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(405</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(7.1</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Prepaid expenses and other assets</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(927</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(378</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(6.6</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Accounts payable and accrued liabilities</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(48</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;65</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;1.1</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Deferred revenue</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(140
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(260
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(4.5
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Net cash provided by operating activities</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            <strong>&nbsp;5,744</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            <strong>&nbsp;5,187</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            <strong>&nbsp;90.6</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">CASH FLOWS USED IN INVESTING ACTIVITIES:</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Purchases of property and equipment and intangible assets</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(3,865</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(1,156</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(20.2</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Proceeds from sale of property and equipment</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;6</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;17</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;0.3</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Acquisitions of businesses, net of cash acquired</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;-</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;20,763</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;362.6</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Investments in non-marketable equity securities</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(34</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(101</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(1.8</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Proceeds from sale of equity securities</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;216</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;-</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;-</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Investments in term deposits</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(40,258</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(44,639</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(779.5</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Maturities of term deposits</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;31,438</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;23,652</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;413.0</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Loans repaid/(granted)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;2
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(141
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(2.4
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Net cash used in investing activities</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            <strong>&nbsp;(12,495</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            <strong>)</strong></td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            <strong>&nbsp;(1,605</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            <strong>)</strong></td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            <strong>&nbsp;(28.0</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            <strong>)</strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">CASH FLOWS USED IN FINANCING ACTIVITIES:</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Proceeds from exercise of share options</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;91</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;52</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;0.9</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Repurchases of convertible debt</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(448</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;-</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;-</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Payment for contingent consideration</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(195</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(485</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;(8.5</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Other financing activities</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;73
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(19
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(0.3
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Net cash used in financing activities</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            <strong>&nbsp;(479</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            <strong>)</strong></td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            <strong>&nbsp;(452</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            <strong>)</strong></td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            <strong>&nbsp;(7.9</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            <strong>)</strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Effect of exchange rate changes on cash and cash balances</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(1,056
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">)</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;251
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;4.4
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Net change in cash and cash balances</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            <strong>&nbsp;(8,286</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            <strong>)</strong></td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            <strong>&nbsp;3,381</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            <strong>&nbsp;59.1</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Cash and cash balances at beginning of period</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;28,810</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;43,231</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;754.9</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Cash and cash balances at end of period</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;20,524</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;46,612</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;814.0</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom"><strong>Reconciliation of cash and cash
                                                                    balances:</strong></td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Cash and cash equivalents, beginning of period</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;28,232</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;42,662</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;745.0</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Restricted cash, beginning of period</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;578</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;569</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;9.9</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Cash and cash balances, beginning of period</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;28,810</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;43,231</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;754.9</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom" colspan="2">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Cash and cash equivalents, end of period</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;19,983</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;46,443</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;811.0</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Restricted cash, end of period</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;541</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;169</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;3.0</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom">Cash and cash balances, end of period</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;20,524</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;46,612</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">&nbsp;814.0</td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom">&nbsp;</td>
    </tr>
</tbody>
</table>
<p class="text-align-center">
    <strong>YANDEX N.V.</strong><br><br>
    <strong>RECONCILIATIONS OF NON-GAAP
                                                                                                                         FINANCIAL MEASURES&nbsp;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 gnw_table_type_short gnw_table_width_100_percent">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>In RUB millions</em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom" colspan="3">
            <strong>Three months ended March&nbsp;31,&nbsp;</strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>&nbsp;</em></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom">
            <strong>2017</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom">
            <strong>2018</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom"><em>Change</em>
        </td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Total revenues
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            20,652
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            26,573
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_padding_left_none gnw_align_right">
            <em>29</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <em>Less: </em>traffic acquisition costs (TAC)
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            3,935
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            4,317
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_padding_left_none gnw_align_right">
            <em>10</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Ex-TAC revenues
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            16,717
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom">
            22,256
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_padding_left_none gnw_align_right">
            <em>33</em><em>%</em></td>
    </tr>
</tbody>
</table>
<p class="text-align-center"><strong>Reconciliation of Adjusted
                                                                                                                     EBITDA to U.S. GAAP Net
                                                                                                                     Income</strong></p>
<table class="gnw_table gnw_table_type_short gnw_table_width_100_percent">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>In RUB millions</em></strong></td>
        <td
                class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom" colspan="3">
            <strong>Three months ended March&nbsp;31,&nbsp;</strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>&nbsp;</em></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center">
            <strong>2017</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center">
            <strong>2018</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom"><em>Change</em>
        </td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Net income
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;819
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;1,851
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>126</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <em>Add: </em>depreciation and amortization
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;2,463
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;2,890
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>17</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <em>Add: </em>share-based compensation expense
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;958
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;1,633
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>70</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <em>Add: </em>compensation expense related to contingent consideration
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;78
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;22
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            <em>-72%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <em>Less:</em> interest income
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(709)
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(708)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>0</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <em>Add: </em>interest expense
        </td>
        <td
                class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;228
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;221
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            <em>-3%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <em>Add:</em> other loss, net
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;2,255
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;400
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            <em>-82%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <em>Add:</em> provision for income taxes
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;782
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;1,395
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>78</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Adjusted EBITDA
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;6,874
        </td>
        <td
                class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;7,704
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>12</em><em>%</em></td>
    </tr>
</tbody>
</table>
<p class="text-align-center"><strong>Reconciliation of Adjusted Net
                                                                                                                     Income to U.S. GAAP Net
                                                                                                                     Income</strong></p>
<table class="gnw_table gnw_table_type_short gnw_table_width_100_percent">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>In RUB millions</em></strong></td>
        <td
                class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom" colspan="3">
            <strong>Three months ended March&nbsp;31,&nbsp;</strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>&nbsp;</em></strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center">
            <strong>2017</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_align_center">
            <strong>2018</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom"><em>Change</em>
        </td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Net income
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;819
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;1,851
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>126</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <em>Add:</em> SBC expense
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;958
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;1,633
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>70</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <em>Less: </em>reduction in income tax attributable to SBC expense
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(12)
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(20)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>67</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <em>Add: </em>compensation expense related to contingent consideration
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;78
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;22
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            <em>-72%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <em>Add: </em>foreign exchange losses
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;2,205
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;482
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            <em>-78%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <em>Less:</em> reduction in income tax attributable to foreign exchange losses
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(431)
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(86)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            <em>-80%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <em>Add:</em> losses from repuchases of convertible debt
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;3
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;-
        </td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            <em>n/m</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <em>Less:</em>&nbsp;decrease in income tax attributable to losses from repuchases of convertible
                                   debt
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(1)
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;-
        </td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            <em>n/m</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <em>Add: </em>amortization of debt discount
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;173
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;170
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_align_right">
            <em>-2%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <em>Less: </em>reduction in income tax attributable to amortization of debt discount
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(43)
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;(43)
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>0</em><em>%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Adjusted net income
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;3,749
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom">
            &nbsp;4,009
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_padding_left_none gnw_border_right_solid gnw_align_right">
            <em>7%</em></td>
    </tr>
</tbody>
</table>
<p class="text-align-center"><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 gnw_table_type_short gnw_table_width_100_percent">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>In RUB millions </em></strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom" colspan="2">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom">
            <strong>U.S. <br>GAAP <br>Actual <br>Net <br>Income</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom">
            <strong>Net <br>Income <br>Margin <br>(1)</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom">
            <strong>Adjustment <br>(2)</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom">
            <strong>Adjusted <br>EBITDA</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom">
            <strong>Adjusted <br>EBITDA <br>Margin <br>(3)</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom">
            <strong>Adjusted <br>Ex-TAC <br>EBITDA <br>Margin (4)</strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Three months ended March&nbsp;31,&nbsp;2018
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_right">
            &nbsp;1,851
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_padding_left_none gnw_align_right">
            7.0%
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_right">
            &nbsp;5,853
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_right">
            &nbsp;7,704
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_padding_left_none gnw_align_right">
            29.0%
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_padding_left_none gnw_align_right">
            34.6%
        </td>
    </tr>
</tbody>
</table>
<p>&nbsp;<br></p>
<p>________________________<br>(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, interest expense, 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 gnw_table_type_short gnw_table_width_100_percent">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            <strong><em>In RUB millions </em></strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom" colspan="2">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_vertical_align_bottom">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            &nbsp;
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom">
            <strong>U.S. <br>GAAP <br>Actual <br>Net <br>Income</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom">
            <strong>Net <br>Income <br>Margin <br>(1)</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom">
            <strong>Adjustment <br>(2)</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom">
            <strong>Adjusted <br>Net <br>Income</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom">
            <strong>Adjusted <br>Net <br>Income <br>Margin <br>(3)</strong></td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom">
            <strong>Adjusted <br>Ex-TAC <br>Net <br>Income <br>Margin (4)</strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_bottom">
            Three months ended March&nbsp;31,&nbsp;2018
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_right">
            &nbsp;1,851
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_padding_left_none gnw_align_right">
            7.0%
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_right">
            &nbsp;2,158
        </td>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_vertical_align_bottom gnw_align_right">
            &nbsp;4,009
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_padding_left_none gnw_align_right">
            15.1%
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_bottom gnw_border_right_solid gnw_padding_left_none gnw_align_right">
            18.0%
        </td>
    </tr>
</tbody>
</table>
<p>&nbsp;<br></p>
<p>________________________<br>(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 reduction in income tax attributable to the
   losses, losses from repurchases of convertible debt (as adjusted for the related decrease in income tax),
   amortization of debt discount (as adjusted for the related reduction in income tax). 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><strong>Contacts:</strong></p>
<p>Investor Relations<br>Katya Zhukova<br>Phone: +7 495 974-35-38<br>E-mail: askIR@yandex-team.ru</p>
<p>Media Relations<br>Ochir Mandzhikov, Ilya Grabovskiy<br>Phone: +7 495 739-70-00<br>E-mail: pr@yandex-team.ru</p>
