<p align="justify">MOSCOW and AMSTERDAM, the Netherlands, Feb.  15, 2019 (GLOBE NEWSWIRE) --
                   Yandex (NASDAQ: YNDX), one of Europe's largest internet
                   companies and the leading search provider in Russia, today
                   announced its unaudited financial results for the fourth
                   quarter and the full year ended December 31, 2018.<br></p>
<h2>Q4 2018 Financial Highlights(1)(2)(3)</h2>
<p><strong>Q4 2018 consolidated financial results</strong></p>
<ul>
    <li><strong>Revenues</strong> of RUB 38.8 billion ($559.1 million), up 39%
        compared with Q4 2017</li>
    <li><strong>Net income</strong> of RUB&nbsp;5.9 billion ($85.1 million), up
        69% compared with Q4 2017; <strong>net income
        margin</strong> of 15.2%</li>
    <li><strong>Adjusted net income</strong> of RUB&nbsp;6.9 billion ($100.0
        million), up 32% compared with Q4 2017;
        <strong>adjusted net income margin</strong> of 17.9%</li>
    <li><strong>Adjusted EBITDA</strong> of RUB 12.3 billion ($177.4 million),
        up 33% compared with Q4 2017; <strong>adjusted
            EBITDA margin</strong> of 31.7%</li>
</ul>
<br>
<p><strong>Q4 2018 financial results excluding Yandex.Market in 2017 and 2018</strong></p>
<ul>
    <li><strong>Revenues excluding Yandex.Market</strong> of RUB 38.8 billion
        ($559.1 million), up 46% compared with Q4
        2017</li>
    <li><strong>Net income excluding Yandex.Market</strong> of RUB 6.5 billion
        ($93.2 million), up 102% compared with
        Q4 2017</li>
    <li><strong>Adjusted net income excluding Yandex.Market</strong> of RUB 7.5
        billion ($108.2 million), up 53%
        compared with Q4 2017; <strong>adjusted net income margin excluding
            Yandex.Market</strong> of 19.4%</li>
    <li><strong>Adjusted EBITDA excluding Yandex.Market</strong> of RUB 12.3
        billion ($177.4 million), up 38% compared
        with Q4 2017; <strong>adjusted EBITDA margin excluding Yandex.Market</strong>
        of 31.7%<br><br></li>
    <li><strong>Cash and cash equivalents as of December&nbsp;31, 2018:</strong>
        <ul style="margin-left: 40px;">
            <li>RUB 68.8 billion ($990.3 million) on a consolidated basis</li>
            <li>Of which RUB 27.3 billion ($393.3 million) related to Taxi
                segment</li>
            <li>RUB
            29.1 billion ($418.6 million) related to Yandex.Market and is not
            included in Yandex N.V. consolidated balance
            sheet</li>
        </ul>

</ul>
<h2>FY 2018 Financial Highlights(1)(2)(3)</h2>
<p><strong>FY 2018 consolidated financial results</strong></p>
<ul>
    <li><strong>Revenues</strong> of RUB 127.7 billion ($1,837.6 million), up
        36% compared with FY 2017</li>
    <li><strong>Net income</strong> of RUB&nbsp;45.9 billion ($660.1 million),
        up 430% compared with FY 2017; <strong>net
            income margin</strong> of 35.9%</li>
    <li><strong>Adjusted net income</strong> of RUB&nbsp;22.1 billion ($318.7
        million), up 44% compared with FY 2017;
        <strong>adjusted net income margin</strong> of 17.3%</li>
    <li><strong>Adjusted EBITDA</strong> of RUB 39.6 billion ($569.9 million),
        up 36% compared with FY 2017; <strong>adjusted
            EBITDA margin</strong> of 31.0%</li>
</ul>
<br>
<p><strong>FY 2018 financial results excluding Yandex.Market in 2017 and 2018</strong></p>
<ul>
    <li><strong>Revenues excluding Yandex.Market</strong> of RUB 126.4 billion
        ($1,819.9 million), up 41% compared with
        FY 2017</li>
    <li><strong>Net income excluding Yandex.Market</strong> of RUB 18.4 billion
        ($265.3 million), up 146% compared with
        FY 2017</li>
    <li><strong>Adjusted net income excluding Yandex.Market</strong> of RUB
        22.9 billion ($329.7 million), up 62%
        compared with FY 2017; <strong>adjusted net income margin excluding
            Yandex.Market</strong> of 18.1%</li>
    <li><strong>Adjusted EBITDA excluding Yandex.Market</strong> of RUB 39.9
        billion ($573.7 million), up 45% compared
        with FY 2017; <strong>adjusted EBITDA margin excluding Yandex.Market</strong>
        of 31.5%</li>
</ul>
<h2>Q4 2018 Operational and Corporate Highlights</h2>
<ul>
    <li><strong>Share of Russian search market,</strong> including mobile,
        averaged 56.5% in Q4 2018, flat compared to
        Q4 2017 and up from 55.9% in Q3 2018, according to Yandex.Radar</li>
    <li><strong>Search share on Android</strong> in Russia was 49.5% in Q4
        2018, up from 49.1% in Q3 2018 and 45.0% in
        Q4 2017, according to Yandex.Radar</li>
    <li><strong>Search queries</strong> in Russia grew 10% compared with Q4
        2017</li>
    <li><strong>Paid clicks</strong> on Yandex’s and its partners’ websites, in
        aggregate, increased 10% compared with
        Q4 2017. Excluding Yandex.Market, <strong>paid clicks</strong> grew 20%
        compared to Q4 2017</li>
    <li>Average<strong> cost per click</strong> grew 7% compared with Q4 2017.
        Excluding Yandex.Market, average <strong>cost
            per click</strong> increased 4% compared to Q4 2017</li>
    <li><strong>Number of rides in the Taxi segment</strong> (including Uber
        rides) grew 112% year-on-year compared
        with Q4 2017; this includes a full quarter of Uber rides in Q4 2018</li>
    <li>Yandex obtained official approval and started to operate its <strong>self-driving
            car</strong> in an autonomous
        mode in Tel Aviv, Israel</li>
    <li>Yandex completed the transaction for the purchase of a property site
        for its <strong>new Moscow headquarters</strong></li>
</ul>
<p>“Our performance in 2018 was exceptional,” said Arkady Volozh, Chief
    Executive Officer of Yandex. “We strengthened
    our positions in search, launched new online-to-offline businesses -
    Yandex.Drive and Yandex.Eats, and started
    sharing our technology and expertise in Yandex.Cloud. I am particularly
    proud of our accomplishments in
    self-driving, as, in just two years, we have already managed to create a
    real robo-taxi service.”</p>
<p>“In Q4 we delivered another solid set of results with revenue growth of 39%
    year-on-year, or 46% excluding
    Yandex.Market,” said Greg Abovsky, Chief Operating Officer and Chief
    Financial Officer of Yandex. “We remain
    committed to investing further in new initiatives, encouraged by the
    success of our ride-sharing segment of Taxi,
    which has now reached profitability thanks to our investments and continued
    focus.”</p>
<p>The following table provides a summary of our key <strong>consolidated
        financial results</strong> for the three and
    twelve months ended December&nbsp;31, 2017 and 2018, which includes
    Yandex.Market financial results through April 27,
    2018:</p>
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<table class="table_yandex">
    <tbody>
        <tr>
            <td>
                <p><em>In RUB millions</em></p>
            </td>
            <td width="31%" colspan="3">
                <p>Three months ended December&nbsp;31,</p>
            </td>
            <td width="31%" colspan="3">
                <p>Twelve months ended December&nbsp;31,</p>
            </td>
        </tr>
        <tr>
            <td>
                <p><strong>&nbsp;</strong></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Revenues</p>
            </td>
            <td>
                <p>&nbsp;27,860</p>
            </td>
            <td>
                <p>&nbsp;38,842</p>
            </td>
            <td>
                <p><em>39%</em></p>
            </td>
            <td>
                <p>&nbsp;94,054</p>
            </td>
            <td>
                <p>&nbsp;127,657</p>
            </td>
            <td>
                <p><em>36%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Ex-TAC revenues<sup>2</sup></p>
            </td>
            <td>
                <p>&nbsp;23,071</p>
            </td>
            <td>
                <p>&nbsp;32,678</p>
            </td>
            <td>
                <p><em>42%</em></p>
            </td>
            <td>
                <p>&nbsp;76,709</p>
            </td>
            <td>
                <p>&nbsp;107,159</p>
            </td>
            <td>
                <p><em>40%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Income from operations</p>
            </td>
            <td>
                <p>&nbsp;4,817</p>
            </td>
            <td>
                <p>&nbsp;7,471</p>
            </td>
            <td>
                <p><em>55%</em></p>
            </td>
            <td>
                <p>&nbsp;13,036</p>
            </td>
            <td>
                <p>&nbsp;20,861</p>
            </td>
            <td>
                <p><em>60%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Adjusted EBITDA<sup>2</sup></p>
            </td>
            <td>
                <p>&nbsp;9,293</p>
            </td>
            <td>
                <p>&nbsp;12,323</p>
            </td>
            <td>
                <p><em>33%</em></p>
            </td>
            <td>
                <p>&nbsp;29,075</p>
            </td>
            <td>
                <p>&nbsp;39,594</p>
            </td>
            <td>
                <p><em>36%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Net income</p>
            </td>
            <td>
                <p>&nbsp;3,500</p>
            </td>
            <td>
                <p>&nbsp;5,911</p>
            </td>
            <td>
                <p><em>69%</em></p>
            </td>
            <td>
                <p>&nbsp;8,656</p>
            </td>
            <td>
                <p>&nbsp;45,861</p>
            </td>
            <td>
                <p><em>430%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Adjusted net income<sup>2</sup></p>
            </td>
            <td>
                <p>&nbsp;5,249</p>
            </td>
            <td>
                <p>&nbsp;6,949</p>
            </td>
            <td>
                <p><em>32%</em></p>
            </td>
            <td>
                <p>&nbsp;15,359</p>
            </td>
            <td>
                <p>&nbsp;22,138</p>
            </td>
            <td>
                <p><em>44%</em></p>
            </td>
        </tr>
    </tbody>
</table>
<p>The table below provides a summary of our key <strong>financial results
        excluding Yandex.Market</strong> for the
    three and twelve months ended December&nbsp;31, 2017 and 2018:</p>
<table class="table_yandex">
    <tbody>
        <tr>
            <td>
                <p><em>In RUB millions, excluding Yandex.Market</em></p>
            </td>
            <td width="31%" colspan="3">
                <p>Three months ended December&nbsp;31,&nbsp;</p>
            </td>
            <td width="31%" colspan="3">
                <p>Twelve months ended December&nbsp;31,&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td>
                <p><strong><em>&nbsp;</em></strong></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Revenues ex. Yandex.Market</p>
            </td>
            <td>
                <p>&nbsp;26,674</p>
            </td>
            <td>
                <p>&nbsp;38,842</p>
            </td>
            <td>
                <p><em>46%</em></p>
            </td>
            <td>
                <p>&nbsp;89,950</p>
            </td>
            <td>
                <p>&nbsp;126,430</p>
            </td>
            <td>
                <p><em>41%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Ex-TAC revenues<sup>2 </sup>ex. Yandex.Market</p>
            </td>
            <td>
                <p>&nbsp;21,943</p>
            </td>
            <td>
                <p>&nbsp;32,678</p>
            </td>
            <td>
                <p><em>49%</em></p>
            </td>
            <td>
                <p>&nbsp;72,842</p>
            </td>
            <td>
                <p>&nbsp;105,966</p>
            </td>
            <td>
                <p><em>45%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Income from operations ex. Yandex.Market</p>
            </td>
            <td>
                <p>&nbsp;4,490</p>
            </td>
            <td>
                <p>&nbsp;7,471</p>
            </td>
            <td>
                <p><em>66%</em></p>
            </td>
            <td>
                <p>&nbsp;11,566</p>
            </td>
            <td>
                <p>&nbsp;21,180</p>
            </td>
            <td>
                <p><em>83%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Adjusted EBITDA<sup>2 </sup>ex. Yandex.Market</p>
            </td>
            <td>
                <p>&nbsp;8,923</p>
            </td>
            <td>
                <p>&nbsp;12,323</p>
            </td>
            <td>
                <p><em>38%</em></p>
            </td>
            <td>
                <p>&nbsp;27,477</p>
            </td>
            <td>
                <p>&nbsp;39,857</p>
            </td>
            <td>
                <p><em>45%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Net income ex. Yandex.Market</p>
            </td>
            <td>
                <p>&nbsp;3,203</p>
            </td>
            <td>
                <p>&nbsp;6,478</p>
            </td>
            <td>
                <p><em>102%</em></p>
            </td>
            <td>
                <p>&nbsp;7,484</p>
            </td>
            <td>
                <p>&nbsp;18,432</p>
            </td>
            <td>
                <p><em>146%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Adjusted net income<sup>2 </sup>ex. Yandex.Market</p>
            </td>
            <td>
                <p>&nbsp;4,920</p>
            </td>
            <td>
                <p>&nbsp;7,516</p>
            </td>
            <td>
                <p><em>53%</em></p>
            </td>
            <td>
                <p>&nbsp;14,114</p>
            </td>
            <td>
                <p>&nbsp;22,906</p>
            </td>
            <td>
                <p><em>62%</em></p>
            </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 69.4706 to $1.00, the official exchange rate
    quoted as of December&nbsp;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>(3) On April 27, 2018, Yandex and Sberbank formed a joint venture based on
    the Yandex.Market platform. Since that
    date, each of Yandex and Sberbank hold an equal number of the outstanding
    shares in Yandex.Market, with up to 10%
    of outstanding shares allocated to management and an equity incentive pool.
    Accordingly, starting April 27, 2018,
    we deconsolidated Yandex.Market from Yandex’s consolidated financial
    results and, under the equity method of
    accounting, we record our share of Yandex.Market’s financial results within
    the Other income, net line in the
    consolidated statements of income. Financial results excluding
    Yandex.Market exclude the results of Yandex.Market,
    gain from deconsolidation and Yandex's share of Yandex.Market’s net income
    after the deconsolidation from the three
    and twelve months periods ended December&nbsp;31, 2017 and 2018<br></p>
<p><strong>Consolidated revenues breakdown</strong></p>
<table class="table_yandex">
    <tbody>
        <tr>
            <td>
                <p><em>In RUB millions</em></p>
            </td>
            <td width="31%" colspan="3">
                <p>Three months ended December&nbsp;31,</p>
            </td>
            <td width="31%" colspan="3">
                <p>Twelve months ended December&nbsp;31,</p>
            </td>
        </tr>
        <tr>
            <td>
                <p><strong>&nbsp;</strong></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Online advertising revenues:</p>
            </td>
            <td>
                <p></p>
            </td>
            <td>
                <p></p>
            </td>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
            <td>
                <p></p>
            </td>
            <td>
                <p></p>
            </td>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yandex
                        properties</em></p>
            </td>
            <td>
                <p>&nbsp;18,932</p>
            </td>
            <td>
                <p>&nbsp;22,393</p>
            </td>
            <td>
                <p><em>18%</em></p>
            </td>
            <td>
                <p>&nbsp;65,149</p>
            </td>
            <td>
                <p>&nbsp;78,696</p>
            </td>
            <td>
                <p><em>21%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Advertising
                        network</em></p>
            </td>
            <td>
                <p>&nbsp;6,138</p>
            </td>
            <td>
                <p>&nbsp;7,105</p>
            </td>
            <td>
                <p><em>16%</em></p>
            </td>
            <td>
                <p>&nbsp;22,251</p>
            </td>
            <td>
                <p>&nbsp;24,041</p>
            </td>
            <td>
                <p><em>8%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Total online advertising revenues</p>
            </td>
            <td>
                <p>&nbsp;25,070</p>
            </td>
            <td>
                <p>&nbsp;29,498</p>
            </td>
            <td>
                <p><em>18%</em></p>
            </td>
            <td>
                <p>&nbsp;87,400</p>
            </td>
            <td>
                <p>&nbsp;102,737</p>
            </td>
            <td>
                <p><em>18%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Other</p>
            </td>
            <td>
                <p>&nbsp;2,790</p>
            </td>
            <td>
                <p>&nbsp;9,344</p>
            </td>
            <td>
                <p><em>235%</em></p>
            </td>
            <td>
                <p>&nbsp;6,654</p>
            </td>
            <td>
                <p>&nbsp;24,920</p>
            </td>
            <td>
                <p><em>275%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Total revenues</p>
            </td>
            <td>
                <p>&nbsp;27,860</p>
            </td>
            <td>
                <p>&nbsp;38,842</p>
            </td>
            <td>
                <p><em>39%</em></p>
            </td>
            <td>
                <p>&nbsp;94,054</p>
            </td>
            <td>
                <p>&nbsp;127,657</p>
            </td>
            <td>
                <p><em>36%</em></p>
            </td>
        </tr>
    </tbody>
</table>
<p><br></p>
<table class="table_yandex">
    <tbody>
        <tr>
            <td>
                <p><em>In RUB millions, excluding Yandex.Market</em></p>
            </td>
            <td width="31%" colspan="3">
                <p>Three months ended December&nbsp;31,&nbsp;</p>
            </td>
            <td width="31%" colspan="3">
                <p>Twelve months ended December&nbsp;31,&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td>
                <p><strong>&nbsp;</strong></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Online Advertising Revenues ex. Yandex.Market:</p>
            </td>
            <td>
                <p></p>
            </td>
            <td>
                <p></p>
            </td>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
            <td>
                <p></p>
            </td>
            <td>
                <p></p>
            </td>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>&nbsp;&nbsp;&nbsp; Yandex properties ex. Yandex.Market</em></p>
            </td>
            <td>
                <p>&nbsp;17,576</p>
            </td>
            <td>
                <p>22,393</p>
            </td>
            <td>
                <p><em>27%</em></p>
            </td>
            <td>
                <p>&nbsp;60,663</p>
            </td>
            <td>
                <p>&nbsp;77,170</p>
            </td>
            <td>
                <p><em>27%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>&nbsp;&nbsp;&nbsp; Advertising network ex. Yandex.Market</em></p>
            </td>
            <td>
                <p>&nbsp;6,087</p>
            </td>
            <td>
                <p>7,105</p>
            </td>
            <td>
                <p><em>17%</em></p>
            </td>
            <td>
                <p>&nbsp;21,953</p>
            </td>
            <td>
                <p>&nbsp;23,962</p>
            </td>
            <td>
                <p><em>9%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Total online advertising revenues ex. Yandex.Market</p>
            </td>
            <td>
                <p>&nbsp;23,663</p>
            </td>
            <td>
                <p>29,498</p>
            </td>
            <td>
                <p><em>25%</em></p>
            </td>
            <td>
                <p>&nbsp;82,616</p>
            </td>
            <td>
                <p>&nbsp;101,132</p>
            </td>
            <td>
                <p><em>22%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Other ex. Yandex.Market</p>
            </td>
            <td>
                <p>&nbsp;3,011</p>
            </td>
            <td>
                <p>&nbsp;9,344</p>
            </td>
            <td>
                <p><em>210%</em></p>
            </td>
            <td>
                <p>&nbsp;7,334</p>
            </td>
            <td>
                <p>&nbsp;25,298</p>
            </td>
            <td>
                <p><em>245%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Total revenues ex. Yandex.Market</p>
            </td>
            <td>
                <p>26,674</p>
            </td>
            <td>
                <p>&nbsp;38,842</p>
            </td>
            <td>
                <p><em>46%</em></p>
            </td>
            <td>
                <p>89,950</p>
            </td>
            <td>
                <p>&nbsp;126,430</p>
            </td>
            <td>
                <p><em>41%</em></p>
            </td>
        </tr>
    </tbody>
</table>
<p><strong>Online advertising revenues</strong> grew 18% in Q4 2018 compared
    with Q4 2017 and generated 76% of total
    revenues. Online advertising revenues include revenues derived from
    performance and brand advertising on Yandex
    properties and in our advertising network.&nbsp; <strong>Excluding revenues
        of Yandex.Market</strong> from Q4 of
    2017, online advertising revenues grew 25% in Q4 2018 compared with Q4
    2017.</p>
<p><strong>Online advertising revenues from Yandex properties</strong>
    increased 18% in Q4 2018 compared with Q4 2017
    and accounted for 58% of total revenues. <strong>Excluding revenues of
        Yandex.Market</strong> from Q4 of 2017,
    online advertising revenues from Yandex properties increased 27% in Q4 2018
    compared with Q4 2017.</p>
<p><strong>Online advertising revenues from our advertising network</strong>
    increased 16% in Q4 2018 compared with Q4
    2017 and accounted for 18% of total revenues. The acceleration of growth
    rates was primarily due to the increased
    contribution from small partners.</p>
<p><strong>Other revenues</strong> grew 235% in Q4 2018 compared with Q4 2017
    and amounted to 24% of total revenues.
    The growth mainly reflected an increase in Yandex.Taxi revenues, and to a
    lesser extent revenues of the newly
    launched Yandex.Drive and hardware devices.</p>
<p><strong>Segment revenues</strong></p>
<table class="table_yandex">
    <tbody>
        <tr>
            <td>
                <p><em>In RUB millions</em></p>
            </td>
            <td width="31%" colspan="3">
                <p>Three months ended December&nbsp;31,&nbsp;</p>
            </td>
            <td width="31%" colspan="3">
                <p>Twelve months ended December&nbsp;31,&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Revenues:</p>
            </td>
            <td>
                <p><strong>&nbsp;</strong></p>
            </td>
            <td>
                <p><strong>&nbsp;</strong></p>
            </td>
            <td>
                <p><strong>&nbsp;</strong></p>
            </td>
            <td>
                <p><strong>&nbsp;</strong></p>
            </td>
            <td>
                <p><strong>&nbsp;</strong></p>
            </td>
            <td>
                <p><strong>&nbsp;</strong></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">Search and Portal</p>
            </td>
            <td>
                <p>&nbsp;24,172</p>
            </td>
            <td>
                <p>&nbsp;30,722</p>
            </td>
            <td>
                <p><em>27%</em></p>
            </td>
            <td>
                <p>&nbsp;84,168</p>
            </td>
            <td>
                <p>&nbsp;104,364</p>
            </td>
            <td>
                <p><em>24%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">E-commerce*</p>
            </td>
            <td>
                <p>&nbsp;1,445</p>
            </td>
            <td>
                <p>&nbsp;-</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
            <td>
                <p>&nbsp;4,968</p>
            </td>
            <td>
                <p>&nbsp;1,697</p>
            </td>
            <td>
                <p><em>-66%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">Taxi</p>
            </td>
            <td>
                <p>&nbsp;2,191</p>
            </td>
            <td>
                <p>&nbsp;6,924</p>
            </td>
            <td>
                <p><em>216%</em></p>
            </td>
            <td>
                <p>&nbsp;4,891</p>
            </td>
            <td>
                <p>&nbsp;19,213</p>
            </td>
            <td>
                <p><em>293%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">Classifieds</p>
            </td>
            <td>
                <p>&nbsp;688</p>
            </td>
            <td>
                <p>&nbsp;1,108</p>
            </td>
            <td>
                <p><em>61%</em></p>
            </td>
            <td>
                <p>&nbsp;2,059</p>
            </td>
            <td>
                <p>&nbsp;3,717</p>
            </td>
            <td>
                <p><em>81%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">Media Services</p>
            </td>
            <td>
                <p>&nbsp;402</p>
            </td>
            <td>
                <p>&nbsp;679</p>
            </td>
            <td>
                <p><em>69%</em></p>
            </td>
            <td>
                <p>&nbsp;1,187</p>
            </td>
            <td>
                <p>&nbsp;1,909</p>
            </td>
            <td>
                <p><em>61%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">Experiments</p>
            </td>
            <td>
                <p>&nbsp;146</p>
            </td>
            <td>
                <p>&nbsp;1,214</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
            <td>
                <p>&nbsp;369</p>
            </td>
            <td>
                <p>&nbsp;2,516</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">Eliminations</p>
            </td>
            <td>
                <p>&nbsp;(1,184)</p>
            </td>
            <td>
                <p>&nbsp;(1,805)</p>
            </td>
            <td>
                <p><em>52%</em></p>
            </td>
            <td>
                <p>&nbsp;(3,588)</p>
            </td>
            <td>
                <p>&nbsp;(5,759)</p>
            </td>
            <td>
                <p><em>61%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Total revenues</p>
            </td>
            <td>
                <p>&nbsp;27,860</p>
            </td>
            <td>
                <p>&nbsp;38,842</p>
            </td>
            <td>
                <p><em>39%</em></p>
            </td>
            <td>
                <p>&nbsp;94,054</p>
            </td>
            <td>
                <p>&nbsp;127,657</p>
            </td>
            <td>
                <p><em>36%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Total revenues, excluding Yandex.Market*</p>
            </td>
            <td>
                <p>&nbsp;26,674</p>
            </td>
            <td>
                <p>&nbsp;38,842</p>
            </td>
            <td>
                <p><em>46%</em></p>
            </td>
            <td>
                <p>&nbsp;89,950</p>
            </td>
            <td>
                <p>&nbsp;126,430</p>
            </td>
            <td>
                <p><em>41%</em></p>
            </td>
        </tr>
    </tbody>
</table>
<p><em><em>*Our E-commerce segment revenues include revenues of Yandex.Market
            through April 27, 2018. Standalone
            revenues of Yandex.Market JV, on a like-for-like basis, are
            provided in the table below.</em></em></p>
<table class="table_yandex">
    <tbody>
        <tr>
            <td>
                <p><em>In RUB millions</em></p>
            </td>
            <td width="31%" colspan="3">
                <p>Three months ended December&nbsp;31,</p>
            </td>
            <td width="31%" colspan="3">
                <p>Twelve months ended December&nbsp;31,</p>
            </td>
        </tr>
        <tr>
            <td>
                <p><strong>&nbsp;</strong></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Revenues:</p>
            </td>
            <td>
                <p></p>
            </td>
            <td>
                <p></p>
            </td>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
            <td>
                <p></p>
            </td>
            <td>
                <p></p>
            </td>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">Yandex.Market, like-for-like</p>
            </td>
            <td>
                <p>&nbsp;1,445</p>
            </td>
            <td>
                <p>&nbsp;3,407</p>
            </td>
            <td>
                <p><em>136%</em></p>
            </td>
            <td>
                <p>&nbsp;4,968</p>
            </td>
            <td>
                <p>&nbsp;7,886</p>
            </td>
            <td>
                <p><em>59%</em></p>
            </td>
        </tr>
    </tbody>
</table>
<p><em><em>In Q1 2018 we introduced the following changes to our segments
            structure:</em></em></p>
<ul>
    <li><em><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></em></li>
    <li><em><em>E-commerce segment includes Yandex.Market for the period prior
                to April 27, 2018, the date of the
                completion of the Yandex.Market joint venture between Yandex
                and Sberbank;</em></em></li>
    <li><em><em>Taxi segment includes our Taxi business (including Yandex.Taxi
                and Uber in Russia and neighboring
                countries) and Food Delivery business (including Yandex.EATs,
                UberEATs and Food Party, meal kit
                subscription service);</em></em></li>
    <li><em><em>Classifieds segment includes Auto.ru, Yandex.Realty and
                Yandex.Jobs; </em></em></li>
    <li><em><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></em></li>
    <li><em><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></em></li>
    <li><em><em>Eliminations represent the elimination of transactions between
                the reportable segments, primarily
                related to advertising.</em></em></li>
    <li><em><em>Prior periods were restated to conform to the current year
                presentation.</em></em></li>
</ul>
<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 Q4 2018 Yandex's headcount decreased by 87 full-time employees,
    mainly due to headcount
    reclassification, which we implemented to ensure consistency in internal
    reporting for positions that we treat as
    outsource labor. The total number of full-time employees was 8,767 as of
    December&nbsp;31, 2018, down by 1% compared
    with September 30, 2018, and up 18% from December&nbsp;31, 2017.</p>
<p><strong>Cost of revenues, including traffic acquisition costs (TAC)</strong></p>
<table class="table_yandex">
    <tbody>
        <tr>
            <td>
                <p><em>In RUB millions</em></p>
            </td>
            <td width="31%" colspan="3">
                <p>Three months ended December&nbsp;31,</p>
            </td>
            <td width="31%" colspan="3">
                <p>Twelve months ended December&nbsp;31,</p>
            </td>
        </tr>
        <tr>
            <td>
                <p><strong>&nbsp;</strong></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>TAC:</p>
            </td>
            <td>
                <p></p>
            </td>
            <td>
                <p></p>
            </td>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
            <td>
                <p></p>
            </td>
            <td>
                <p></p>
            </td>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">Related to the Yandex advertising network</p>
            </td>
            <td>
                <p>&nbsp;3,567</p>
            </td>
            <td>
                <p>&nbsp;4,406</p>
            </td>
            <td>
                <p><em>24%</em></p>
            </td>
            <td>
                <p>&nbsp;12,907</p>
            </td>
            <td>
                <p>&nbsp;14,785</p>
            </td>
            <td>
                <p><em>15%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">Related to distribution partners</p>
            </td>
            <td>
                <p>&nbsp;1,222</p>
            </td>
            <td>
                <p>&nbsp;1,758</p>
            </td>
            <td>
                <p><em>44%</em></p>
            </td>
            <td>
                <p>&nbsp;4,438</p>
            </td>
            <td>
                <p>&nbsp;5,713</p>
            </td>
            <td>
                <p><em>29%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">Total TAC</p>
            </td>
            <td>
                <p>&nbsp;4,789</p>
            </td>
            <td>
                <p>&nbsp;6,164</p>
            </td>
            <td>
                <p><em>29%</em></p>
            </td>
            <td>
                <p>&nbsp;17,345</p>
            </td>
            <td>
                <p>&nbsp;20,498</p>
            </td>
            <td>
                <p><em>18%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1"><em>Total TAC as a % of total revenues</em></p>
            </td>
            <td>
                <p><em>17.2%</em></p>
            </td>
            <td>
                <p><em>15.9%</em></p>
            </td>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
            <td>
                <p><em>18.4%</em></p>
            </td>
            <td>
                <p><em>16.1%</em></p>
            </td>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">Other cost of revenues</p>
            </td>
            <td>
                <p>&nbsp;2,008</p>
            </td>
            <td>
                <p>&nbsp;5,692</p>
            </td>
            <td>
                <p><em>183%</em></p>
            </td>
            <td>
                <p>&nbsp;6,592</p>
            </td>
            <td>
                <p>&nbsp;15,392</p>
            </td>
            <td>
                <p><em>133%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1"><em>Other cost of revenues as a % of revenues</em></p>
            </td>
            <td>
                <p><em>7.2%</em></p>
            </td>
            <td>
                <p><em>14.7%</em></p>
            </td>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
            <td>
                <p><em>7.0%</em></p>
            </td>
            <td>
                <p><em>12.1%</em></p>
            </td>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">Total cost of revenues</p>
            </td>
            <td>
                <p>&nbsp;6,797</p>
            </td>
            <td>
                <p>&nbsp;11,856</p>
            </td>
            <td>
                <p><em>74%</em></p>
            </td>
            <td>
                <p>&nbsp;23,937</p>
            </td>
            <td>
                <p>&nbsp;35,890</p>
            </td>
            <td>
                <p><em>50%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>Total cost of revenues as a % of revenues</em></p>
            </td>
            <td>
                <p><em>24.4%</em></p>
            </td>
            <td>
                <p><em>30.5%</em></p>
            </td>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
            <td>
                <p><em>25.5%</em></p>
            </td>
            <td>
                <p><em>28.1%</em></p>
            </td>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
        </tr>
    </tbody>
</table>
<p>TAC grew 29% in Q4 2018 compared with Q4 2017 and represented 15.9% of total
    revenues, 130 basis points lower than
    in Q4 2017 and 40 basis points lower compared with Q3 2018 as a result of
    revenue mix effect.</p>
<p><strong>Other cost of revenues</strong> in Q4 2018 increased 183% compared
    with Q4 2017, mainly due to the growth of
    costs related to Taxi, primarily driven by our B2B services, food delivery
    and meal kit services, as well as costs
    related to our car-sharing service Yandex.Drive.</p>
<p><strong>Product development</strong></p>
<table class="table_yandex">
    <tbody>
        <tr>
            <td>
                <p><em>In RUB millions</em></p>
            </td>
            <td width="31%" colspan="3">
                <p>Three months ended December&nbsp;31,</p>
            </td>
            <td width="31%" colspan="3">
                <p>Twelve months ended December&nbsp;31,</p>
            </td>
        </tr>
        <tr>
            <td>
                <p><strong>&nbsp;</strong></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">Product development</p>
            </td>
            <td>
                <p>&nbsp;5,201</p>
            </td>
            <td>
                <p>&nbsp;5,854</p>
            </td>
            <td>
                <p><em>13%</em></p>
            </td>
            <td>
                <p>&nbsp;18,761</p>
            </td>
            <td>
                <p>&nbsp;22,569</p>
            </td>
            <td>
                <p><em>20%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>As a % of revenues</em></p>
            </td>
            <td>
                <p><em>18.6%</em></p>
            </td>
            <td>
                <p><em>15.2%</em></p>
            </td>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
            <td>
                <p><em>19.9%</em></p>
            </td>
            <td>
                <p><em>17.7%</em></p>
            </td>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
        </tr>
    </tbody>
</table>
<p>Product development expenses grew slower than revenues, and mainly reflected
    the growth of share-based compensation,
    new hires as well as salary increases in Q4 2018,&nbsp; but offset by tax
    benefits received in respect of our
    development team. Excluding Yandex.Market from Q4 2017, product development
    expenses grew 21% in Q4 2018 compared
    with Q4 2017.</p>
<p><strong>Sales, general and administrative (SG&amp;A)</strong></p>
<table class="table_yandex">
    <tbody>
        <tr>
            <td>
                <p><em>In RUB millions</em></p>
            </td>
            <td width="31%" colspan="3">
                <p>Three months ended December&nbsp;31,</p>
            </td>
            <td width="31%" colspan="3">
                <p>Twelve months ended December&nbsp;31,</p>
            </td>
        </tr>
        <tr>
            <td>
                <p><strong>&nbsp;</strong></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">Sales, general and administrative</p>
            </td>
            <td>
                <p>&nbsp;8,022</p>
            </td>
            <td>
                <p>&nbsp;10,458</p>
            </td>
            <td>
                <p><em>30%</em></p>
            </td>
            <td>
                <p>&nbsp;27,081</p>
            </td>
            <td>
                <p>&nbsp;36,200</p>
            </td>
            <td>
                <p><em>34%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>As a % of revenues</em></p>
            </td>
            <td>
                <p><em>28.8%</em></p>
            </td>
            <td>
                <p><em>26.9%</em></p>
            </td>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
            <td>
                <p><em>28.8%</em></p>
            </td>
            <td>
                <p><em>28.4%</em></p>
            </td>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
        </tr>
    </tbody>
</table>
<p>SG&amp;A expenses grew 30% in Q4 2018 compared to Q4 2017. The growth was
    mainly driven by our investments in
    advertising and marketing to support our business units, primarily
    Classifieds and Media Services, and our core
    business, as well as by the growth of personnel costs as a result of new
    hires and salary increases.</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="table_yandex">
    <tbody>
        <tr>
            <td>
                <p><em>In RUB millions</em></p>
            </td>
            <td width="31%" colspan="3">
                <p>Three months ended December&nbsp;31,</p>
            </td>
            <td width="31%" colspan="3">
                <p>Twelve months ended December&nbsp;31,</p>
            </td>
        </tr>
        <tr>
            <td>
                <p><strong>&nbsp;</strong></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">SBC expense included in cost of revenues</p>
            </td>
            <td>
                <p>&nbsp;36</p>
            </td>
            <td>
                <p>&nbsp;54</p>
            </td>
            <td>
                <p><em>50%</em></p>
            </td>
            <td>
                <p>&nbsp;178</p>
            </td>
            <td>
                <p>&nbsp;180</p>
            </td>
            <td>
                <p><em>1%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">SBC expense included in product development</p>
            </td>
            <td>
                <p>&nbsp;811</p>
            </td>
            <td>
                <p>&nbsp;1,107</p>
            </td>
            <td>
                <p><em>36%</em></p>
            </td>
            <td>
                <p>&nbsp;2,477</p>
            </td>
            <td>
                <p>&nbsp;4,450</p>
            </td>
            <td>
                <p><em>80%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">SBC expense included in SG&amp;A</p>
            </td>
            <td>
                <p>&nbsp;547</p>
            </td>
            <td>
                <p>&nbsp;481</p>
            </td>
            <td>
                <p><em>-12%</em></p>
            </td>
            <td>
                <p>&nbsp;1,538</p>
            </td>
            <td>
                <p>&nbsp;1,922</p>
            </td>
            <td>
                <p><em>25%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">Total SBC expense</p>
            </td>
            <td>
                <p>&nbsp;1,394</p>
            </td>
            <td>
                <p>&nbsp;1,642</p>
            </td>
            <td>
                <p><em>18%</em></p>
            </td>
            <td>
                <p>&nbsp;4,193</p>
            </td>
            <td>
                <p>&nbsp;6,552</p>
            </td>
            <td>
                <p><em>56%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>As a % of revenues</em></p>
            </td>
            <td>
                <p><em>5.0%</em></p>
            </td>
            <td>
                <p><em>4.2%</em></p>
            </td>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
            <td>
                <p><em>4.5%</em></p>
            </td>
            <td>
                <p><em>5.1%</em></p>
            </td>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
        </tr>
    </tbody>
</table>
<p>Total SBC expense increased 18% in Q4 2018 compared with Q4 2017. The growth
   was primarily related to new equity-based grants made in 2017-2018, but was
   offset by the high base effect as a result of the accelerated vesting of a
   portion of RSUs in Q4 2017. SBC expense growth rate in Q4 2018 was also
   mitigated by recalculation of SBC expense in our Taxi segment related to
   previous quarters of 2018.</p>
<p><strong>Depreciation and amortization (D&amp;A) expense</strong></p>
<table class="table_yandex">
    <tbody>
        <tr>
            <td>
                <p><em>In RUB millions</em></p>
            </td>
            <td width="31%" colspan="3">
                <p>Three months ended December&nbsp;31,</p>
            </td>
            <td width="31%" colspan="3">
                <p>Twelve months ended December&nbsp;31,</p>
            </td>
        </tr>
        <tr>
            <td>
                <p><strong>&nbsp;</strong></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">Depreciation and amortization</p>
            </td>
            <td>
                <p>&nbsp;3,023</p>
            </td>
            <td>
                <p>&nbsp;3,203</p>
            </td>
            <td>
                <p><em>6%</em></p>
            </td>
            <td>
                <p>&nbsp;11,239</p>
            </td>
            <td>
                <p>&nbsp;12,137</p>
            </td>
            <td>
                <p><em>8%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>As a % of revenues</em></p>
            </td>
            <td>
                <p><em>10.9%</em></p>
            </td>
            <td>
                <p><em>8.2%</em></p>
            </td>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
            <td>
                <p><em>11.9%</em></p>
            </td>
            <td>
                <p><em>9.5%</em></p>
            </td>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
        </tr>
    </tbody>
</table>
<p>D&amp;A expense increased 6% in Q4 2018 compared with Q4 2017. D&amp;A
    expense primarily reflects our investments in
    servers and data center equipment connected with the launch of our new data
    center in Vladimir, Russia, in 2017,
    which was partly offset by expiration of useful lives of part of our
    equipment and intangible assets.</p>
<p><strong>Income from operations</strong></p>
<table class="table_yandex">
    <tbody>
        <tr>
            <td>
                <p><em>In RUB millions</em></p>
            </td>
            <td width="31%" colspan="3">
                <p>Three months ended December&nbsp;31,</p>
            </td>
            <td width="31%" colspan="3">
                <p>Twelve months ended December&nbsp;31,</p>
            </td>
        </tr>
        <tr>
            <td>
                <p><strong>&nbsp;</strong></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Income from operations</p>
            </td>
            <td>
                <p>&nbsp;4,817</p>
            </td>
            <td>
                <p>&nbsp;7,471</p>
            </td>
            <td>
                <p><em>55%</em></p>
            </td>
            <td>
                <p>&nbsp;13,036</p>
            </td>
            <td>
                <p>&nbsp;20,861</p>
            </td>
            <td>
                <p><em>60%</em></p>
            </td>
        </tr>
    </tbody>
</table>
<p>Income from operations increased 55% in Q4 2018 compared with Q4 2017.</p>
<p><strong>Adjusted EBITDA – consolidated and by segments</strong></p>
<table class="table_yandex">
    <tbody>
        <tr>
            <td>
                <p><em>In RUB millions</em></p>
            </td>
            <td width="31%" colspan="3">
                <p>Three months ended December&nbsp;31,</p>
            </td>
            <td width="31%" colspan="3">
                <p>Twelve months ended December&nbsp;31,</p>
            </td>
        </tr>
        <tr>
            <td>
                <p><strong>&nbsp;</strong></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Adjusted EBITDA:</p>
            </td>
            <td>
                <p></p>
            </td>
            <td>
                <p></p>
            </td>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
            <td>
                <p></p>
            </td>
            <td>
                <p></p>
            </td>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">Search and Portal</p>
            </td>
            <td>
                <p>&nbsp;10,736</p>
            </td>
            <td>
                <p>&nbsp;13,350</p>
            </td>
            <td>
                <p><em>24%</em></p>
            </td>
            <td>
                <p>&nbsp;36,630</p>
            </td>
            <td>
                <p>&nbsp;47,418</p>
            </td>
            <td>
                <p><em>29%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">E-commerce*</p>
            </td>
            <td>
                <p>&nbsp;370</p>
            </td>
            <td>
                <p>&nbsp;-</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
            <td>
                <p>&nbsp;1,598</p>
            </td>
            <td>
                <p>&nbsp;(263)</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">Taxi</p>
            </td>
            <td>
                <p>&nbsp;(1,584)</p>
            </td>
            <td>
                <p>&nbsp;(129)</p>
            </td>
            <td>
                <p><em>-92%</em></p>
            </td>
            <td>
                <p>&nbsp;(7,963)</p>
            </td>
            <td>
                <p>&nbsp;(4,434)</p>
            </td>
            <td>
                <p><em>-44%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">Classifieds</p>
            </td>
            <td>
                <p>&nbsp;70</p>
            </td>
            <td>
                <p>&nbsp;(18)</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
            <td>
                <p>&nbsp;97</p>
            </td>
            <td>
                <p>&nbsp;(183)</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">Media Services</p>
            </td>
            <td>
                <p>&nbsp;(84)</p>
            </td>
            <td>
                <p>&nbsp;(215)</p>
            </td>
            <td>
                <p><em>156%</em></p>
            </td>
            <td>
                <p>&nbsp;(444)</p>
            </td>
            <td>
                <p>&nbsp;(810)</p>
            </td>
            <td>
                <p><em>82%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">Experiments</p>
            </td>
            <td>
                <p>&nbsp;(215)</p>
            </td>
            <td>
                <p>&nbsp;(665)</p>
            </td>
            <td>
                <p><em>209%</em></p>
            </td>
            <td>
                <p>&nbsp;(843)</p>
            </td>
            <td>
                <p>&nbsp;(2,134)</p>
            </td>
            <td>
                <p><em>153%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Total adjusted EBITDA</p>
            </td>
            <td>
                <p>&nbsp;9,293</p>
            </td>
            <td>
                <p>&nbsp;12,323</p>
            </td>
            <td>
                <p><em>33%</em></p>
            </td>
            <td>
                <p>&nbsp;29,075</p>
            </td>
            <td>
                <p>&nbsp;39,594</p>
            </td>
            <td>
                <p><em>36%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Total adjusted EBITDA, excluding Yandex.Market</p>
            </td>
            <td>
                <p>&nbsp;8,923</p>
            </td>
            <td>
                <p>&nbsp;12,323</p>
            </td>
            <td>
                <p><em>38%</em></p>
            </td>
            <td>
                <p>&nbsp;27,477</p>
            </td>
            <td>
                <p>&nbsp;39,857</p>
            </td>
            <td>
                <p><em>45%</em></p>
            </td>
        </tr>
    </tbody>
</table>
<p><em><em>*Our E-commerce segment adjusted EBITDA includes adjusted EBITDA of
            Yandex.Market through April 27, 2018.
            Standalone adjusted EBITDA of Yandex.Market JV, on a like-for-like
            basis, is provided in the table below.</em></em></p>
<table class="table_yandex">
    <tbody>
        <tr>
            <td>
                <p><em>In RUB millions</em></p>
            </td>
            <td width="31%" colspan="3">
                <p>Three months ended December&nbsp;31,</p>
            </td>
            <td width="31%" colspan="3">
                <p>Twelve months ended December&nbsp;31,</p>
            </td>
        </tr>
        <tr>
            <td>
                <p><strong>&nbsp;</strong></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Adjusted EBITDA:</p>
            </td>
            <td>
                <p></p>
            </td>
            <td>
                <p></p>
            </td>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
            <td>
                <p></p>
            </td>
            <td>
                <p></p>
            </td>
            <td>
                <p><em>&nbsp;</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p class="indent-1">Yandex.Market, like-for-like</p>
            </td>
            <td>
                <p>&nbsp;370</p>
            </td>
            <td>
                <p>&nbsp;(1,313)</p>
            </td>
            <td>
                <p><em>-455%</em></p>
            </td>
            <td>
                <p>&nbsp;1,598</p>
            </td>
            <td>
                <p>&nbsp;(1,973)</p>
            </td>
            <td>
                <p><em>-223%</em></p>
            </td>
        </tr>
    </tbody>
</table>
<p><strong>Total adjusted EBITDA</strong> increased 33% in Q4 2018 compared
    with Q4 2017.</p>
<p><strong>Adjusted EBITDA excluding Yandex.Market</strong> increased 38% in Q4
    2018 compared with Q4 2017. This growth
    rate was slightly lower than our revenue growth rate due to the mix effect
    of business units, which grew faster
    than our core business and, thus, have a dilutive effect on total margins,
    and to a lesser extent due to hardware
    devices.</p>
<p>Adjusted EBITDA of Taxi was negative RUB 129 million in Q4 2018. The
    positive adjusted EBITDA of our ride-sharing
    business was partly offset by our investments in food delivery and
    autonomous vehicles. Adjusted EBITDA loss of
    Yandex.Taxi in Q4 2018 also includes the full quarter of Uber financial
    results.</p>
<p><strong>Interest income</strong> in Q4 2018 was RUB 929 million, compared
    with RUB 780 million in Q4 2017.</p>
<p><strong>Interest expense</strong> in Q4 2018 was RUB 221 million, down from
    RUB 226 million in Q4 2017.</p>
<p><strong>Foreign exchange</strong> gain in Q4 2018 was RUB 904 million,
    compared with a foreign exchange loss of RUB
    243 million in Q4 2017. This gain reflects the depreciation of the Russian
    ruble during Q4 2018 from RUB 65.5906 to
    $1.00 on September 30, 2018, to RUB 69.4706 to $1.00 on December&nbsp;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 income, 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 an upward
    revaluation of the ruble equivalent of
    these U.S. dollar-denominated monetary assets and liabilities in Q4 2018.</p>
<p><strong>Income tax expense</strong> for Q4 2018 was RUB 2,539 million, up
    from RUB 1,897 million in Q4 2017. Our
    effective tax rate of 30.0% in Q4 2018 was lower than in Q4 2017, primarily
    due to the effects of certain tax
    provisions related to prior years' tax audits reversed in Q4 2018. Adjusted
    for these tax effects, SBC expense and
    also for deferred tax asset valuation allowances provided on operations of
    our newly acquired Uber and Food
    Delivery businesses and other certain allowances, our effective tax rate
    for Q4 2018 was 26.2%, compared with 24.3%
    for full year 2017 as adjusted for SBC expense and similar provisions in
    that year.</p>
<p><strong>Net income</strong> was RUB 5.9 billion ($85.1 million) in Q4 2018,
    up 69% compared with Q4 2017. Excluding
    Yandex.Market, net income increased 102% in Q4 2018 compared to Q4 2017.</p>
<p><strong>Adjusted net income</strong> in Q4 2018 was RUB 6.9 billion ($100.0
    million), a 32% increase from Q4 2017.
    Excluding Yandex.Market, adjusted net income increased 53% in Q4 2018
    compared to Q4 2017.</p>
<p><strong>Adjusted net income margin</strong> was 17.9% in Q4 2018, compared
    with 18.8% in Q4 2017.</p>
<p>As of December&nbsp;31, 2018, Yandex had <strong>cash and cash equivalents</strong>
    of RUB 68.8 billion ($990.3 million),
    including cash and cash equivalents of Yandex.Taxi in total amount of RUB
    27.3 billion ($393.3 million). Cash and
    cash equivalents of the Yandex.Market joint venture, which are not included
    in Yandex N.V. consolidated balance
    sheet, amounted to RUB 29.1 billion ($418.6 million) as of
    December&nbsp;31, 2018.</p>
<p><strong>Net cash flow provided by operating activities</strong> for Q4 2018
    was RUB 8.6 billion ($123.9 million) and
    <strong>capital expenditures</strong> were RUB 13.9 billion ($199.5
    million), which included one-time effect of the
    acquisition cost of the property site for our new Moscow headquarters,
    which amounted to RUB 9.7 billion (around
    $145 million, based on the exchange rate as of transaction date) exclusive
    of 18% VAT.</p>
<p>During Q4 2018 we repaid in full the remaining amount of outstanding
    principal in respect of convertible debt notes
    in the face amount of $321.3 million.</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 and Classifieds 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
    December&nbsp;31, 2018 was 324,727,024 including
    286,848,365 Class A shares, 37,878,658 Class B shares, and one Priority
    share and excluding 5,589,290 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 were cancelled.</p>
<p>There were also employee share options outstanding to purchase up to an
    additional 3.6 million shares, at a weighted
    average exercise price of $34.51 per share, 1.2 million of which were fully
    vested; equity-settled share
    appreciation rights (SARs) for 0.2 million shares, at a weighted average
    measurement price of $32.44, all of which
    were fully vested; and restricted share units (RSUs) covering 13.9 million
    shares, of which RSUs to acquire 5.3
    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>We expect our ruble-based revenues excluding Yandex.Market to grow in the
    range of 28% to 32% for the full year 2019
    compared with 2018.</p>
<p>We expect our Search and Portal ruble-based revenue to grow in the range of
    18% to 20% in the full year 2019
    compared with 2018.</p>
<p>This outlook reflects our current view, based on the trends that we see at
    this time, and may change in light of
    market and economic developments in the business sectors and jurisdictions
    in which we operate.</p>
<h2>Conference Call Information</h2>
<p>Yandex’s management will hold an earnings conference call on February 15,
    2019 at 8:00 AM U.S. Eastern Time (4:00 PM
    Moscow time; 1:00 PM London time).</p>
<p>To access the conference call live, please dial:</p>
<p>US: +1 866 966 1396<br>UK/International: +44 (0) 844 571 8892<br>Russia: 8
    10 800 2357 5011<br>Passcode: 8199859</p>
<p>A replay of the call will be available until February 22, 2019. To access
    the replay, please dial:</p>
<p>US: +1 866 331 1332<br>UK/International: +44 (0) 844 571 8951<br>Russia: +7
    495 249 9138<br>Passcode: 8199859</p>
<p>A live and archived webcast of this conference call will be available at</p>
<p><a href="https://edge.media-server.com/m6/p/g8ucpyib" rel="nofollow" target="_blank">https://edge.media-server.com/m6/p/g8ucpyib</a></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 30 offices worldwide, has
    been listed on the NASDAQ since 2011.</p>
<p>More information on Yandex can be found at <a href="https://yandex.com/company"
        rel="nofollow" target="_blank">https://yandex.com/company</a>.</p>
<h2>FORWARD-LOOKING STATEMENTS</h2>
<p>This press release contains forward-looking statements that involve risks
    and uncertainties. These include
    statements regarding our anticipated revenues for full year 2019. 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 or our business, 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 February 15, 2019, 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)&nbsp;provision for income
        taxes, and (6) operating losses resulting from sanctions in Ukraine
        imposed in May 2017, <u>less</u> (1) effect
        of deconsolidation of Yandex.Market, (2) interest income and (3) other
        (income)/loss, net</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/(gains) adjusted for (reduction)/increase in
        income tax attributable to foreign
        exchange losses/(gains), (4) losses from repurchases of our convertible
        notes adjusted for the related
        reduction in income tax, (5) amortization of debt discount related to
        our convertible debt adjusted for the
        related reduction in income tax and (6) losses resulting from sanctions
        in Ukraine imposed in May 2017, <u>less</u>&nbsp;
        effect of deconsolidation of Yandex.Market</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><em>TAC</em></em></p>
<p>We believe that it may be useful for investors and analysts to review
    certain measures both in accordance with U.S.
    GAAP and net of the effect of TAC, which we view as comparable to sales
    commissions and bonuses but, unlike sales
    commissions and bonuses, are not deducted from U.S. GAAP revenues. By
    presenting revenue, adjusted EBITDA margin
    and adjusted net income margin net of TAC, we believe that investors and
    analysts are able to obtain a clearer
    picture of our business without the impact of the revenues we share with
    our partners.</p>
<p><em><em>SBC</em></em></p>
<p>SBC is a significant expense item, and an important part of our compensation
    and incentive programs. As it is a
    non-cash charge, however, and highly dependent on our share price at the
    time of equity award grants, we believe
    that it is useful for investors and analysts to see certain financial
    measures excluding the impact of these
    charges in order to obtain a clearer picture of our operating performance.</p>
<p><em><em>Acquisition-related costs</em></em></p>
<p>We may incur expenses in connection with acquisitions that are not
    indicative of our recurring core operating
    performance. In particular, we are required under U.S. GAAP to accrue as
    expense the contingent compensation that
    is payable to certain employees in connection with certain business
    combinations. We eliminate these
    acquisition-related expenses from adjusted EBITDA and adjusted net income
    to provide management and investors a
    tool for comparing on a period-to-period basis our operating performance in
    the ordinary course of operations.</p>
<p><em><em>Foreign exchange gains and losses</em></em></p>
<p>Because we hold significant assets and liabilities in currencies other than
    our Russian ruble operating currency,
    and because foreign exchange fluctuations are outside of our operational
    control, we believe that it is useful to
    present adjusted net income and related margin measures excluding these
    effects, in order to provide greater
    clarity regarding our operating performance.</p>
<p><em><em>Amortization of debt discount</em></em></p>
<p>We also adjust net income for interest expense representing amortization of
    the debt discount related to our
    convertible notes issued in Q4 2013 and Q1 2014. We have eliminated this
    expense from adjusted net income as it is
    non-cash in nature and is not indicative of our ongoing operating
    performance.</p>
<p><em><em>Gains and losses from repurchases of convertible debt</em></em></p>
<p>Adjusted net income for the twelve months ended December&nbsp;31, 2017 also
    excludes a loss from the repurchase of $12.0
    million in principal of our 1.125% convertible senior notes due 2018 for
    approximately $11.6 million that we
    recorded in the first half of 2017. We have eliminated this loss from
    adjusted net income for the twelve months
    ended December&nbsp;31, 2017 as it is not indicative of our ongoing
    operating performance.</p>
<p><em><em>Losses resulting from sanctions in Ukraine</em></em></p>
<p>We also adjusted our net income and EBITDA in 2017 for losses and gains from
    write-off of assets and liabilities in
    our Ukrainian legal entities. In May 2017, the government of Ukraine
    imposed sanctions on our Ukrainian operations.
    The sanctions resulted in the freezing of the assets held by our Ukrainian
    legal entities and restricting our
    services in Ukraine. We believe that it is useful to present adjusted net
    income and adjusted EBITDA measures
    excluding the one-off impact of these events, which are not related to our
    operating activities.</p>
<p><em><em>Effect of deconsolidation of Yandex.Market</em></em></p>
<p>Adjusted net income also excludes a gain from deconsolidation of
    Yandex.Market following the formation of
    Yandex.Market joint venture by Yandex and Sberbank in April 2018. We
    believe that it is useful to present adjusted
    net income and related margin measures excluding the effect of this
    significant item and to present certain other
    financial metrics described above in order to provide a clearer picture of
    our underlying operating performance and
    to provide meaningful period-to-period comparisons.</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><br></p>
<p><br></p>
<p align="center"><strong>YANDEX&nbsp;N.V.</strong></p>
<p align="center"><strong>Unaudited Condensed Consolidated Balance Sheets</strong></p>
<p align="center"><strong>(in millions of Russian rubles and U.S. dollars,
        except share and per share data)</strong></p>
<table style="border-collapse: collapse ;  font-size: 15px; width:100%; border-collapse:collapse ;">
    <tbody>
        <tr>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td style="vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td colspan="8" style="border-bottom: solid black 1pt ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong>As
                    of</strong></td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td style="vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td colspan="2" style="vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong>December&nbsp;31,</strong></td>
            <td style="vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong>&nbsp;</strong></td>
            <td colspan="2" style="vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong>December&nbsp;31,</strong></td>
            <td style="vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong>&nbsp;</strong></td>
            <td colspan="2" style="vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong>December&nbsp;31,</strong></td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td style="vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td colspan="2" style="border-bottom: solid black 1pt ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong>2017*</strong></td>
            <td style="vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong>&nbsp;</strong></td>
            <td colspan="2" style="border-bottom: solid black 1pt ; padding-right: 0 ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong>2018<br></strong></td>
            <td style="vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong>&nbsp;</strong></td>
            <td colspan="2" style="border-bottom: solid black 1pt ; padding-right: 0 ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong>2018<br></strong></td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td style="vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td colspan="2" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong>RUB</strong></td>
            <td style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong>&nbsp;</strong></td>
            <td colspan="2" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong>RUB</strong></td>
            <td style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong>&nbsp;</strong></td>
            <td colspan="2" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong>$</strong></td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; "><strong>ASSETS</strong></td>
            <td style="vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong>&nbsp;</strong></td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong>&nbsp;</strong></td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong>&nbsp;</strong></td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong>&nbsp;</strong></td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong>&nbsp;</strong></td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Current assets:</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="max-width:72%; width:72%; min-width:72%;;vertical-align: bottom ; ">Cash
                and cash equivalents</td>
            <td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; ">&nbsp;</td>
            <td style="max-width:7%; width:7%; min-width:7%;;padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">42,662</td>
            <td style="max-width:1%; width:1%; min-width:1%;;padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="max-width:1%; width:1%; min-width:1%;;text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="max-width:7%; width:7%; min-width:7%;;padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">68,798</td>
            <td style="max-width:1%; width:1%; min-width:1%;;padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="max-width:2%; width:2%; min-width:2%;;text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="max-width:7%; width:7%; min-width:7%;;padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">990.3</td>
            <td style="max-width:1%; width:1%; min-width:1%;;padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Term deposits</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">23,040</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Accounts receivable, net</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">9,746</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">14,570</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">209.7</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Prepaid expenses</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,269</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2,608</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">37.5</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Other current assets</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">4,039</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">6,444</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">92.8</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Total current assets</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">80,756</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">92,420</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,330.3</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Property and equipment, net</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">21,171</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">39,740</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">572.0</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Intangible assets, net</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">5,023</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">11,545</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">166.2</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Goodwill</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">9,328</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">54,070</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">778.3</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Long-term prepaid expenses</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,788</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,800</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">26.0</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Term deposits, non-current</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">5,005</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Investments in non-marketable
                equity securities</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2,001</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">36,484</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">525.2</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Deferred tax assets</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2,171</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;
             vertical-align: bottom; vertical-align: bottom ; ">3,239</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;
             vertical-align: bottom; vertical-align: bottom ; ">46.6</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Other non-current assets</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">3,301</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">3,808</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">54.8</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; "><strong>TOTAL ASSETS</strong></td>
            <td style="vertical-align: bottom ; "><strong>&nbsp;</strong></td>
            <td style="border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong>130,544</strong></td>
            <td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; "><strong>&nbsp;</strong></td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong>&nbsp;</strong></td>
            <td style="border-bottom: double black 3pt ; padding-right: 0 ;
            text-align: right ;  vertical-align: bottom; vertical-align:
            bottom ; "><strong>243,106</strong></td>
            <td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; "><strong>&nbsp;</strong></td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong>&nbsp;</strong></td>
            <td style="border-bottom: double black 3pt ; padding-right: 0 ;
            text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong>3,499.4</strong></td>
            <td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; "><strong>LIABILITIES AND
                    SHAREHOLDERS’ EQUITY</strong></td>
            <td style="vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Current liabilities:</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Accounts payable and accrued
                liabilities</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">11,111</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">16,886</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">243.1</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Taxes payable</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">4,213</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">4,059</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">58.4</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Deferred revenue</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2,464</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2,792</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">40.2</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Convertible debt</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">17,834</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Total current liabilities</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">35,622</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">23,737</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">341.7</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Deferred tax liabilities</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">959</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;
             vertical-align: bottom; vertical-align: bottom ; ">1,572</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;
             vertical-align: bottom; vertical-align: bottom ; ">22.6</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Other accrued liabilities</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,316</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">569</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">8.2</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Total liabilities</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">37,897</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;
             vertical-align: bottom; vertical-align: bottom ; ">25,878</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;
             vertical-align: bottom; vertical-align: bottom ; ">372.5</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Commitments and contingencies</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Redeemable noncontrolling
                interests</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">9,821</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">12,780</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">184.0</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Shareholders’ equity:</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Priority share: €1.00 par
                value; 1 share authorized, issued and
                outstanding</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">—</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">—</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">—</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Preference shares: €0.01 par
                value; 1,000,000,001 shares authorized,
                nil shares issued and outstanding</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">—</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">—</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">—</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="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 292,437,655, Class B:
                40,692,286 and 37,878,658, and Class C:
                4,166,448 and nil, respectively); shares outstanding (Class A:
                285,612,556 and 286,848,365, Class B:
                40,692,286 and 37,878,658, and Class C: nil)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">271</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">263</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">3.8</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Treasury shares at cost
                (Class A: 3,751,911 and 5,589,290,
                respectively)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(3,814</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(10,769</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(155.0</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Additional paid-in capital</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">16,469</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;
             vertical-align: bottom; vertical-align: bottom ; ">70,191</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;
             vertical-align: bottom; vertical-align: bottom ; ">1,010.4</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Accumulated other
                comprehensive income</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,864</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;
             vertical-align: bottom; vertical-align: bottom ; ">10,041</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;
             vertical-align: bottom; vertical-align: bottom ; ">144.5</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Retained earnings</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">68,036</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">113,795</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,638.0</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Total equity attributable to
                Yandex N.V.</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">82,826</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">183,521</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2,641.7</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Noncontrolling interests</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">20,927</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">301.2</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Total shareholders’ equity</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">82,826</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">204,448</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2,942.9</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; "><strong>TOTAL LIABILITIES AND
                    SHAREHOLDERS’ EQUITY</strong></td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong>130,544</strong></td>
            <td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; "><strong>&nbsp;</strong></td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong>&nbsp;</strong></td>
            <td style="border-bottom: double black 3pt ; padding-right: 0 ;
            text-align: right ;  vertical-align: bottom; vertical-align:
            bottom ; "><strong>243,106</strong></td>
            <td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; "><strong>&nbsp;</strong></td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong>&nbsp;</strong></td>
            <td style="border-bottom: double black 3pt ; padding-right: 0 ;
            text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong>3,499.4</strong></td>
            <td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
    </tbody>
</table>
<p>*&nbsp;<em><em>Derived from audited consolidated financial statements</em></em></p>
<p><br><br></p>
<p align="center"><strong>YANDEX&nbsp;N.V.</strong></p>
<p align="center"><strong>Unaudited Condensed Consolidated Statements of Income</strong></p>
<p align="center"><strong>(in millions of Russian rubles and U.S. dollars,
        except share and per share data)</strong></p>
<table style="border-collapse: collapse ;  font-size: 15px; width:100%; border-collapse:collapse ;">
    <tbody>
        <tr>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="8" style="border-bottom: solid black 1pt ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong><strong>Three
                        months ended December&nbsp;31,&nbsp;</strong></strong></td>
        </tr>
        <tr>
            <td style="max-width:73%; width:73%; min-width:73%;;vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; ">&nbsp;</td>
            <td style="max-width:7%; width:7%; min-width:7%;;border-bottom: solid black 1pt ; padding-right: 0 ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong><strong>2017</strong></strong></td>
            <td style="max-width:1%; width:1%; min-width:1%;;border-bottom: solid black 1pt ; padding-left: 0 ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; ">&nbsp;</td>
            <td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong><strong>&nbsp;</strong></strong></td>
            <td style="max-width:7%; width:7%; min-width:7%;;border-bottom: solid black 1pt ; padding-right: 0 ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong><strong>2018</strong></strong></td>
            <td style="max-width:1%; width:1%; min-width:1%;;border-bottom: solid black 1pt ; padding-left: 0 ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; ">&nbsp;</td>
            <td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong><strong>&nbsp;</strong></strong></td>
            <td style="max-width:7%; width:7%; min-width:7%;;border-bottom: solid black 1pt ; padding-right: 0 ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong><strong>2018</strong></strong></td>
            <td style="max-width:1%; width:1%; min-width:1%;;border-bottom: solid black 1pt ; padding-left: 0 ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>RUB</strong></strong></td>
            <td style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td colspan="2" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>RUB</strong></strong></td>
            <td style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td colspan="2" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>$</strong></strong></td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Revenues</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">27,860</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">38,842</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">559.1</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Operating costs and expenses:</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Cost of revenues(1)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">6,797</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">11,856</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">170.7</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Product development(1)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">5,201</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">5,854</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">84.3</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Sales, general and
                administrative(1)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">8,022</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">10,458</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">150.5</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Depreciation and amortization</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">3,023</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">3,203</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">46.1</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Total operating costs and
                expenses</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">23,043</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">31,371</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">451.6</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Income from operations</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">4,817</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">7,471</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">107.5</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Interest income</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">780</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">929</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">13.4</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Interest expense</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;(226</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;(221</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;(3.2</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Other income, net</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;26</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;271</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;3.9</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Net income before income
                taxes</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">5,397</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">8,450</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">121.6</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Provision for income taxes</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,897</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2,539</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">36.5</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Net income</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">3,500</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">5,911</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">85.1</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Net loss attributable to
                noncontrolling interests</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;26</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">148</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2.1</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Net income attributable to
                Yandex N.V.</td>
            <td style="vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td style="border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>3,526</strong></strong></td>
            <td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td style="border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>6,059</strong></strong></td>
            <td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td style="border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>87.2</strong></strong></td>
            <td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Net income per Class&nbsp;A
                and Class&nbsp;B share:</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Basic</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">10.82</td>
            <td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">18.67</td>
            <td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">0.27</td>
            <td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Diluted</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">10.61</td>
            <td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">18.27</td>
            <td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">0.26</td>
            <td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Weighted average number of
                Class A and Class B shares outstanding</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Basic</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">326,011,908</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">324,503,123</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">324,503,123</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Diluted</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">332,463,799</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">331,675,527</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">331,675,527</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="border-bottom: solid black 1pt ; vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
    </tbody>
</table>
<p>(1) These balances exclude depreciation and amortization expenses, which are
    presented separately, and include
    share-based compensation expenses of:<br></p>
<table style="border-collapse: collapse ;  font-size: 15px; width:100%; border-collapse:collapse ;">
    <tbody>
        <tr>
            <td style="max-width:56%; width:56%;
            min-width:56%;;vertical-align: bottom ; ">Cost
                of revenues</td>
            <td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="3" style="max-width:10%; width:10%;
            min-width:10%;;text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">36</td>
            <td style="max-width:1%; width:1%; min-width:1%;;text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="max-width:1%; width:1%; min-width:1%;;text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="3" style="max-width:10%; width:10%; min-width:10%;;text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">54</td>
            <td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; ">&nbsp;</td>
            <td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="max-width:10%; width:10%; min-width:10%;;text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">0.8</td>
            <td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Product development</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="3" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">811</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="3" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,107</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">15.9</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Sales, general and
                administrative</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="3" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">547</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="3" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">481</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">6.9</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
    </tbody>
</table>
<p><br></p>
<p align="center"><strong>YANDEX&nbsp;N.V.</strong></p>
<p align="center"><strong>Unaudited Condensed Consolidated Statements of Income</strong></p>
<p align="center"><strong>(in millions of Russian rubles and U.S. dollars,
        except share and per share data)</strong></p>
<table style="border-collapse: collapse ;  font-size: 15px; width:100%; border-collapse:collapse ;">
    <tbody>
        <tr>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="8" style="border-bottom: solid black 1pt ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong><strong>Twelve
                        months ended December&nbsp;31,&nbsp;</strong></strong></td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="border-bottom: solid black 1pt ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong><strong>2017</strong></strong><strong><strong>*</strong></strong></td>
            <td style="vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong><strong>&nbsp;</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong><strong>2018</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; ">&nbsp;</td>
            <td style="vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong><strong>&nbsp;</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong><strong>2018</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>RUB</strong></strong></td>
            <td style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td colspan="2" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>RUB</strong></strong></td>
            <td style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td colspan="2" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>$</strong></strong></td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="max-width:73%; width:73%; min-width:73%;;vertical-align: bottom ; ">Revenues</td>
            <td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; ">&nbsp;</td>
            <td style="max-width:7%; width:7%; min-width:7%;;padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">94,054</td>
            <td style="max-width:1%; width:1%; min-width:1%;;padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; ">&nbsp;</td>
            <td style="max-width:7%; width:7%; min-width:7%;;padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">127,657</td>
            <td style="max-width:1%; width:1%; min-width:1%;;padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; ">&nbsp;</td>
            <td style="max-width:7%; width:7%; min-width:7%;;padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,837.6</td>
            <td style="max-width:1%; width:1%; min-width:1%;;padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Operating costs and expenses:</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Cost of revenues(1)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">23,937</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">35,890</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">516.6</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Product development(1)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">18,761</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">22,569</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">324.9</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Sales, general and
                administrative(1)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">27,081</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">36,200</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">521.1</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Depreciation and amortization</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">11,239</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">12,137</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">174.7</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Total operating costs and
                expenses</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">81,018</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">106,796</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,537.3</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Income from operations</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">13,036</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">20,861</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">300.3</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Interest income</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2,909</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">3,382</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">48.7</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Interest expense</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;(897</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;(945</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;(13.6</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Effect of Yandex.Market
                deconsolidation</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;28,244</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;406.6</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Other (loss)/income, net</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;(1,466</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;2,922</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;42.0</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Net income before income
                taxes</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">13,582</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">54,464</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">784.0</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Provision for income taxes</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">4,926</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">8,603</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">123.9</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Net income</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">8,656</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">45,861</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">660.1</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Net loss attributable to
                noncontrolling interests</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;120</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,726</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">24.9</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Net income attributable to
                Yandex N.V.</td>
            <td style="vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td style="border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>8,776</strong></strong></td>
            <td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td style="border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>47,587</strong></strong></td>
            <td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td style="border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>685.0</strong></strong></td>
            <td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Net income per Class&nbsp;A
                and Class&nbsp;B share:</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Basic</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">27.02</td>
            <td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">145.67</td>
            <td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2.10</td>
            <td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Diluted</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">26.49</td>
            <td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">141.98</td>
            <td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: double black 3pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2.04</td>
            <td style="border-bottom: double black 3pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Weighted average number of
                Class A and Class B shares outstanding</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Basic</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">324,747,888</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">326,667,118</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">326,667,118</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Diluted</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">331,243,961</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">335,162,062</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">335,162,062</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="border-bottom: solid black 1pt ; vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
    </tbody>
</table>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) These balances exclude depreciation
    and amortization expenses, which are
    presented separately, and include share-based compensation expenses of:</p>
<table style="border-collapse: collapse ;  font-size: 15px; width:100%; border-collapse:collapse ;">
    <tbody>
        <tr>
            <td style="max-width:56%; width:56%;
            min-width:56%;;vertical-align: bottom ; ">Cost
                of revenues</td>
            <td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="max-width:10%; width:10%;
            min-width:10%;;text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">178</td>
            <td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; ">&nbsp;</td>
            <td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; ">&nbsp;</td>
            <td style="max-width:10%; width:10%; min-width:10%;;text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">180</td>
            <td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; ">&nbsp;</td>
            <td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; ">&nbsp;</td>
            <td style="max-width:10%; width:10%; min-width:10%;;text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2.6</td>
            <td style="max-width:1%; width:1%; min-width:1%;;text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Product development</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2,477</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">4,450</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">64.1</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Sales, general and
                administrative</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,538</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,922</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">27.7</td>
            <td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
    </tbody>
</table>
<p><em><em>* Derived from audited consolidated financial statements</em></em></p>
<p><em><em><br></em></em></p>
<p align="center"><strong>YANDEX&nbsp;N.V.</strong></p>
<p align="center"><strong>Unaudited Condensed Consolidated Statements of Cash
        Flows</strong><br><strong>(in millions of
        Russian rubles and U.S. dollars)</strong></p>
<table style="border-collapse: collapse ;  font-size: 15px; width:100%; border-collapse:collapse ;">
    <tbody>
        <tr>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="8" style="border-bottom: solid black 1pt ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong><strong>Three
                        months ended December&nbsp;31,&nbsp;</strong></strong></td>
        </tr>
        <tr>
            <td style="max-width:73%; width:73%; min-width:73%;;vertical-align: bottom ; ">&nbsp;</td>
            <td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; ">&nbsp;</td>
            <td style="max-width:7%; width:7%; min-width:7%;;border-bottom: solid black 1pt ; padding-right: 0 ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong><strong>2017</strong></strong></td>
            <td style="max-width:1%; width:1%; min-width:1%;;border-bottom: solid black 1pt ; padding-left: 0 ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; ">&nbsp;</td>
            <td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong><strong>&nbsp;</strong></strong></td>
            <td style="max-width:7%; width:7%; min-width:7%;;border-bottom: solid black 1pt ; padding-right: 0 ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong><strong>2018</strong></strong></td>
            <td style="max-width:1%; width:1%; min-width:1%;;border-bottom: solid black 1pt ; padding-left: 0 ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; ">&nbsp;</td>
            <td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong><strong>&nbsp;</strong></strong></td>
            <td style="max-width:7%; width:7%; min-width:7%;;border-bottom: solid black 1pt ; padding-right: 0 ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong><strong>2018</strong></strong></td>
            <td style="max-width:1%; width:1%; min-width:1%;;border-bottom: solid black 1pt ; padding-left: 0 ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>RUB</strong></strong></td>
            <td style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td colspan="2" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>RUB</strong></strong></td>
            <td style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td colspan="2" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>$</strong></strong></td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">CASH FLOWS PROVIDED BY
                OPERATING ACTIVITIES:</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Net income</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">3,500</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">5,911</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">85.1</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Adjustments to reconcile net
                income to net cash provided by operating
                activities:</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Depreciation of property and
                equipment</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2,534</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2,594</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">37.3</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Amortization of intangible
                assets</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">489</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">609</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">8.8</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Amortization of debt discount
                and issuance costs</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">173</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">170</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2.4</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Share-based compensation
                expense</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,394</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,642</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">23.6</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Deferred income taxes</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(584</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(657</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(9.5</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Foreign exchange
                losses/(gains)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">243</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(904</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(13.0</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Gain from sale of equity
                securities</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(33</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">(Income)/loss from equity
                method investments</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(143</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">474</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">6.8</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Other</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(83</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">125</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1.9</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Changes in operating assets
                and liabilities excluding the effect of
                acquisitions:</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Accounts receivable, net</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(1,322</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(2,221</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(32.0</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Prepaid expenses and other
                assets</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(797</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;
             vertical-align: bottom; vertical-align: bottom ; ">(1,115</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;
             vertical-align: bottom; vertical-align: bottom ; ">(16.0</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Accounts payable and accrued
                liabilities</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,993</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;
             vertical-align: bottom; vertical-align: bottom ; ">1,374</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;
             vertical-align: bottom; vertical-align: bottom ; ">19.8</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Deferred revenue</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">227</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">605</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">8.7</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Net cash provided by
                operating activities</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;7,591</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;8,607</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;123.9</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">CASH FLOWS PROVIDED BY
                INVESTING ACTIVITIES:</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Purchases of property and
                equipment and intangible assets</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(2,563</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(13,857</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(199.5</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Proceeds from sale of
                property and equipment</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">43</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">11</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">0.2</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Acquisitions of businesses,
                net of cash acquired</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(554</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;
             vertical-align: bottom; vertical-align: bottom ; ">(836</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;
             vertical-align: bottom; vertical-align: bottom ; ">(12.0</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Investments in non-marketable
                equity securities</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(78</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Proceeds from sale of equity
                securities</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">51</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">34</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">0.5</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Maturities of term deposits</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">14,863</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">38,408</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">552.9</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Loans granted, net of
                proceeds from repayments</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(61</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">11</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">0.1</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Net cash provided by
                investing activities</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;11,701</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ;
            text-align: right ;  vertical-align: bottom; vertical-align:
            bottom ; "><strong><strong>&nbsp;23,771</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ;
            text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;342.2</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">CASH FLOWS USED IN FINANCING
                ACTIVITIES:</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Proceeds from exercise of
                share options</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">18</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">8</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">0.1</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Repurchase of equity awards</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(77</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Repayment of convertible debt</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(21,281</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(306.3</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Repurchases of ordinary
                shares</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(320</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(4.6</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Payment for contingent
                consideration</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(104</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(1.5</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Other financing activities</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(1</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">32</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">0.4</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Net cash used in financing
                activities</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;(60</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>)</strong></strong></td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;(21,665</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>)</strong></strong></td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;(311.9</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>)</strong></strong></td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Effect of exchange rate
                changes on cash and cash balances</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(162</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ;
            text-align: right ;  vertical-align: bottom; vertical-align:
            bottom ; ">8,707</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ;
            text-align: right ;  vertical-align: bottom; vertical-align:
            bottom ; ">125.4</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Net change in cash and cash
                balances</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;19,070</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;19,420</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;279.6</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Cash and cash balances at
                beginning of period</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">24,161</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">49,466</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">712.0</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Cash and cash balances at end
                of period</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">43,231</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">68,886</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">991.6</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; "><strong><strong>Reconciliation
                        of cash and cash balances:</strong></strong></td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Cash and cash equivalents,
                beginning of period</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">23,591</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">49,388</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">710.9</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Restricted cash, beginning of
                period</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">570</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">78</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1.1</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Cash and cash balances,
                beginning of period</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">24,161</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">49,466</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">712.0</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Cash and cash equivalents,
                end of period</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">42,662</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">68,798</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">990.3</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Restricted cash, end of
                period</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">569</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">88</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1.3</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Cash and cash balances, end
                of period</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">43,231</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">68,886</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">991.6</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td colspan="10" style="vertical-align: bottom ; "><em><em>&nbsp;</em></em></td>
        </tr>
    </tbody>
</table>
<p><strong><br></strong></p>
<p align="center"><strong>YANDEX&nbsp;N.V.</strong><br><strong>Unaudited
        Condensed Consolidated Statements of Cash
        Flows</strong><br><strong>(in millions of Russian rubles and U.S.
        dollars)</strong></p>
<table style="border-collapse: collapse ;  font-size: 15px; width:100%; border-collapse:collapse ;">
    <tbody>
        <tr>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="8" style="border-bottom: solid black 1pt ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong><strong>Twelve
                        months ended December&nbsp;31,&nbsp;</strong></strong></td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="border-bottom: solid black 1pt ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong><strong>2017*</strong></strong></td>
            <td style="vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong><strong>&nbsp;</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong><strong>2018</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; ">&nbsp;</td>
            <td style="vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong><strong>&nbsp;</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; "><strong><strong>2018</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; vertical-align: bottom ; text-align: center ;  vertical-align: bottom; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>RUB</strong></strong></td>
            <td style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td colspan="2" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>RUB</strong></strong></td>
            <td style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;</strong></strong></td>
            <td colspan="2" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>$</strong></strong></td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">CASH FLOWS PROVIDED BY
                OPERATING ACTIVITIES:</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="max-width:73%; width:73%; min-width:73%;;vertical-align: bottom ; ">Net
                income</td>
            <td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; ">&nbsp;</td>
            <td style="max-width:7%; width:7%; min-width:7%;;padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">8,656</td>
            <td style="max-width:1%; width:1%; min-width:1%;;padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; ">&nbsp;</td>
            <td style="max-width:7%; width:7%; min-width:7%;;padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">45,861</td>
            <td style="max-width:1%; width:1%; min-width:1%;;padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; ">&nbsp;</td>
            <td style="max-width:7%; width:7%; min-width:7%;;padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">660.1</td>
            <td style="max-width:1%; width:1%; min-width:1%;;padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Adjustments to reconcile net
                income to net cash provided by operating
                activities:</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Depreciation of property and
                equipment</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">9,131</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">9,833</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">141.5</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Amortization of intangible
                assets</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2,108</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2,304</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">33.2</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Amortization of debt discount
                and issuance costs</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">684</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">728</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">10.5</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Share-based compensation
                expense</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">4,193</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">6,552</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">94.4</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Deferred income taxes</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(1,513</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(1,862</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(26.8</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Foreign exchange
                losses/(gains)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,784</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(3,155</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(45.4</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Effect of deconsolidation of
                Yandex.Market</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(28,244</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(406.6</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Gain from sale of equity
                securities</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(33</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Losses from repurchases of
                convertible debt</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">6</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">(Income)/loss from equity
                method investments</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(353</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">195</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2.8</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Other</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">87</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(63</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(1.0</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Changes in operating assets
                and liabilities excluding the effect of
                acquisitions:</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Accounts receivable, net</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(1,996</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(4,705</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(67.7</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Prepaid expenses and other
                assets</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(2,224</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;
             vertical-align: bottom; vertical-align: bottom ; ">(5,887</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;
             vertical-align: bottom; vertical-align: bottom ; ">(84.7</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Accounts payable and accrued
                liabilities</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2,921</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;
             vertical-align: bottom; vertical-align: bottom ; ">6,176</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;
             vertical-align: bottom; vertical-align: bottom ; ">88.9</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Deferred revenue</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">321</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">479</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">6.9</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Net cash provided by
                operating activities</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;23,772</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;28,212</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;406.1</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">CASH FLOWS (USED IN)/PROVIDED
                BY INVESTING ACTIVITIES:</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Purchases of property and
                equipment and intangible assets</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(12,389</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(28,323</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(407.7</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Proceeds from sale of
                property and equipment</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">73</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">235</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;
             vertical-align: bottom; vertical-align: bottom ; ">3.5</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Acquisitions of businesses,
                net of cash acquired</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(918</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;
             vertical-align: bottom; vertical-align: bottom ; ">19,844</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;
             vertical-align: bottom; vertical-align: bottom ; ">285.6</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Investments in non-marketable
                equity securities</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(191</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(155</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(2.2</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Proceeds from sale of equity
                securities</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">267</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">34</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">0.5</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Proceeds from maturity of
                debt securities</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">2,887</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Investments in term deposits</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(70,082</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(55,592</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(800.2</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Maturities of term deposits</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">72,731</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">85,751</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1,234.3</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Deconsolidation of cash and
                cash equivalents of Yandex.Market</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(2,181</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(31.4</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Loans granted, net of
                proceeds from repayments</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(166</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(372</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(5.4</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Net cash (used in)/provided
                by investing activities</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;(7,788</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>)</strong></strong></td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ;
            text-align: right ;  vertical-align: bottom; vertical-align:
            bottom ; "><strong><strong>&nbsp;19,241</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ;
            text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;277.0</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">CASH FLOWS USED IN FINANCING
                ACTIVITIES:</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Proceeds from exercise of
                share options</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">328</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">115</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1.7</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Repurchase of equity awards</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(77</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Repayment of convertible debt</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(21,281</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(306.3</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Repurchases of convertible
                debt</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(668</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Repurchases of ordinary
                shares</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">-</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(10,085</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(145.2</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Payment for contingent
                consideration</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(195</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(1,504</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(21.7</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Other financing activities</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">25</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(49</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(0.7</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Net cash used in financing
                activities</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;(587</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>)</strong></strong></td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;(32,804</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>)</strong></strong></td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;(472.2</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>)</strong></strong></td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Effect of exchange rate
                changes on cash and cash balances</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(976</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ;
            text-align: right ;  vertical-align: bottom; vertical-align:
            bottom ; ">11,006</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ;
            text-align: right ;  vertical-align: bottom; vertical-align:
            bottom ; ">158.4</td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Net change in cash and cash
                balances</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;14,421</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;25,655</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="border-bottom: solid black 1pt ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong><strong>&nbsp;369.3</strong></strong></td>
            <td style="border-bottom: solid black 1pt ; padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Cash and cash balances at
                beginning of period</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">28,810</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">43,231</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">622.3</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Cash and cash balances at end
                of period</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">43,231</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">68,886</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">991.6</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; "><strong><strong>Reconciliation
                        of cash and cash balances:</strong></strong></td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Cash and cash equivalents,
                beginning of period</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">28,232</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">42,662</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">614.1</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Restricted cash, beginning of
                period</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">578</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">569</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">8.2</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Cash and cash balances,
                beginning of period</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">28,810</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">43,231</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">622.3</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td colspan="2" style="vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Cash and cash equivalents,
                end of period</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">42,662</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">68,798</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">990.3</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Restricted cash, end of
                period</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">569</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">88</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">1.3</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom ; ">Cash and cash balances, end
                of period</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">43,231</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">68,886</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
            <td style="vertical-align: bottom ; ">&nbsp;</td>
            <td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">991.6</td>
            <td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&nbsp;</td>
        </tr>
    </tbody>
</table>
<p><em><em>* Derived from audited consolidated financial statements</em></em></p>
<p><strong><br></strong></p>
<p align="center"><strong>YANDEX N.V.</strong></p>
<p align="center"><strong>RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES</strong><br><strong>TO
        THE NEAREST COMPARABLE
        U.S. GAAP MEASURES</strong></p>
<p align="center"><strong>Reconciliation of Ex-TAC Revenues to U.S. GAAP
        Revenues</strong></p>
<table class="table_yandex">
    <tbody>
        <tr>
            <td width="36%">
                <p><em>In RUB millions</em></p>
            </td>
            <td width="31%" colspan="3">
                <p>Three months ended December&nbsp;31,</p>
            </td>
            <td width="31%" colspan="3">
                <p>Twelve months ended December&nbsp;31,</p>
            </td>
        </tr>
        <tr>
            <td width="36%">
                <p><strong>&nbsp;</strong></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Total revenues</p>
            </td>
            <td>
                <p>&nbsp;27,860</p>
            </td>
            <td>
                <p>&nbsp;38,842</p>
            </td>
            <td>
                <p><em>39%</em></p>
            </td>
            <td>
                <p>&nbsp;94,054</p>
            </td>
            <td>
                <p>&nbsp;127,657</p>
            </td>
            <td>
                <p><em>36%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Less: traffic acquisition costs (TAC)</p>
            </td>
            <td>
                <p>&nbsp;4,789</p>
            </td>
            <td>
                <p>&nbsp;6,164</p>
            </td>
            <td>
                <p><em>29%</em></p>
            </td>
            <td>
                <p>&nbsp;17,345</p>
            </td>
            <td>
                <p>&nbsp;20,498</p>
            </td>
            <td>
                <p><em>18%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Ex-TAC revenues</p>
            </td>
            <td>
                <p>&nbsp;23,071</p>
            </td>
            <td>
                <p>&nbsp;32,678</p>
            </td>
            <td>
                <p><em>42%</em></p>
            </td>
            <td>
                <p>&nbsp;76,709</p>
            </td>
            <td>
                <p>&nbsp;107,159</p>
            </td>
            <td>
                <p><em>40%</em></p>
            </td>
        </tr>
    </tbody>
</table>
<p><strong><br></strong></p>
<p  align="center"><strong>Reconciliation of Adjusted EBITDA to U.S. GAAP Net
        Income</strong></p>
<table class="table_yandex">
    <tbody>
        <tr>
            <td width="36%">
                <p><em>In RUB millions</em></p>
            </td>
            <td width="31%" colspan="3">
                <p>Three months ended December&nbsp;31,</p>
            </td>
            <td width="31%" colspan="3">
                <p>Twelve months ended December&nbsp;31,</p>
            </td>
        </tr>
        <tr>
            <td width="36%">
                <p><strong>&nbsp;</strong></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Net income</p>
            </td>
            <td>
                <p>&nbsp;3,500</p>
            </td>
            <td>
                <p>&nbsp;5,911</p>
            </td>
            <td>
                <p><em>69%</em></p>
            </td>
            <td>
                <p>&nbsp;8,656</p>
            </td>
            <td>
                <p>&nbsp;45,861</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>Add:</em> depreciation and amortization</p>
            </td>
            <td>
                <p>&nbsp;3,023</p>
            </td>
            <td>
                <p>&nbsp;3,203</p>
            </td>
            <td>
                <p><em>6%</em></p>
            </td>
            <td>
                <p>&nbsp;11,239</p>
            </td>
            <td>
                <p>&nbsp;12,137</p>
            </td>
            <td>
                <p><em>8%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>Add:</em> share-based compensation expense</p>
            </td>
            <td>
                <p>&nbsp;1,394</p>
            </td>
            <td>
                <p>&nbsp;1,642</p>
            </td>
            <td>
                <p><em>18%</em></p>
            </td>
            <td>
                <p>&nbsp;4,193</p>
            </td>
            <td>
                <p>&nbsp;6,552</p>
            </td>
            <td>
                <p><em>56%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>Add:</em> compensation expense related to contingent consideration</p>
            </td>
            <td>
                <p>&nbsp;42</p>
            </td>
            <td>
                <p>&nbsp;7</p>
            </td>
            <td>
                <p><em>-83%</em></p>
            </td>
            <td>
                <p>&nbsp;203</p>
            </td>
            <td>
                <p>&nbsp;44</p>
            </td>
            <td>
                <p><em>-78%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>Less</em>: effect of Yandex.Market deconsolidation</p>
            </td>
            <td>
                <p>&nbsp;-</p>
            </td>
            <td>
                <p>&nbsp;-</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
            <td>
                <p>&nbsp;-</p>
            </td>
            <td>
                <p>&nbsp;(28,244)</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>Less: </em>interest income</p>
            </td>
            <td>
                <p>&nbsp;(780)</p>
            </td>
            <td>
                <p>&nbsp;(929)</p>
            </td>
            <td>
                <p><em>19%</em></p>
            </td>
            <td>
                <p>&nbsp;(2,909)</p>
            </td>
            <td>
                <p>&nbsp;(3,382)</p>
            </td>
            <td>
                <p><em>16%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>Add:</em> interest expense</p>
            </td>
            <td>
                <p>&nbsp;226</p>
            </td>
            <td>
                <p>&nbsp;221</p>
            </td>
            <td>
                <p><em>-2%</em></p>
            </td>
            <td>
                <p>&nbsp;897</p>
            </td>
            <td>
                <p>&nbsp;945</p>
            </td>
            <td>
                <p><em>5%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>Less</em>: other (income)/loss, net</p>
            </td>
            <td>
                <p>&nbsp;(26)</p>
            </td>
            <td>
                <p>&nbsp;(271)</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
            <td>
                <p>&nbsp;1,466</p>
            </td>
            <td>
                <p>&nbsp;(2,922)</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>Add:</em> provision for income taxes</p>
            </td>
            <td>
                <p>&nbsp;1,897</p>
            </td>
            <td>
                <p>&nbsp;2,539</p>
            </td>
            <td>
                <p><em>34%</em></p>
            </td>
            <td>
                <p>&nbsp;4,926</p>
            </td>
            <td>
                <p>&nbsp;8,603</p>
            </td>
            <td>
                <p><em>75%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>Add:</em> operating losses resulting from sanctions in Ukraine</p>
            </td>
            <td>
                <p>&nbsp;17</p>
            </td>
            <td>
                <p>&nbsp;-</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
            <td>
                <p>&nbsp;404</p>
            </td>
            <td>
                <p>&nbsp;-</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Adjusted EBITDA</p>
            </td>
            <td>
                <p>&nbsp;9,293</p>
            </td>
            <td>
                <p>&nbsp;12,323</p>
            </td>
            <td>
                <p><em>33%</em></p>
            </td>
            <td>
                <p>&nbsp;29,075</p>
            </td>
            <td>
                <p>&nbsp;39,594</p>
            </td>
            <td>
                <p><em>36%</em></p>
            </td>
        </tr>
    </tbody>
</table>
<p><strong><br></strong></p>
<p align="center"><strong>Reconciliation of Adjusted Net Income to U.S. GAAP
        Net Income</strong></p>
<table class="table_yandex">
    <tbody>
        <tr>
            <td width="36%">
                <p><em>In RUB millions</em></p>
            </td>
            <td width="31%" colspan="3">
                <p>Three months ended December&nbsp;31,</p>
            </td>
            <td width="31%" colspan="3">
                <p>Twelve months ended December&nbsp;31,</p>
            </td>
        </tr>
        <tr>
            <td width="36%">
                <p><strong>&nbsp;</strong></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
            <td>
                <p>2017</p>
            </td>
            <td>
                <p>2018</p>
            </td>
            <td>
                <p><em>Change</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Net income</p>
            </td>
            <td>
                <p>&nbsp;3,500</p>
            </td>
            <td>
                <p>&nbsp;5,911</p>
            </td>
            <td>
                <p><em>69%</em></p>
            </td>
            <td>
                <p>&nbsp;8,656</p>
            </td>
            <td>
                <p>&nbsp;45,861</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>Add: </em>SBC expense</p>
            </td>
            <td>
                <p>&nbsp;1,394</p>
            </td>
            <td>
                <p>&nbsp;1,642</p>
            </td>
            <td>
                <p><em>18%</em></p>
            </td>
            <td>
                <p>&nbsp;4,193</p>
            </td>
            <td>
                <p>&nbsp;6,552</p>
            </td>
            <td>
                <p><em>56%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>Less:</em> reduction in income tax attributable to SBC expense</p>
            </td>
            <td>
                <p>&nbsp;(16)</p>
            </td>
            <td>
                <p>&nbsp;(28)</p>
            </td>
            <td>
                <p><em>75%</em></p>
            </td>
            <td>
                <p>&nbsp;(62)</p>
            </td>
            <td>
                <p>&nbsp;(104)</p>
            </td>
            <td>
                <p><em>68%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>Add:</em> compensation expense related to contingent consideration</p>
            </td>
            <td>
                <p>&nbsp;42</p>
            </td>
            <td>
                <p>&nbsp;7</p>
            </td>
            <td>
                <p><em>-83%</em></p>
            </td>
            <td>
                <p>&nbsp;203</p>
            </td>
            <td>
                <p>&nbsp;44</p>
            </td>
            <td>
                <p><em>-78%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>Add:</em> foreign exchange losses/(gains)</p>
            </td>
            <td>
                <p>&nbsp;243</p>
            </td>
            <td>
                <p>&nbsp;(904)</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
            <td>
                <p>&nbsp;1,784</p>
            </td>
            <td>
                <p>&nbsp;(3,155)</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>Less:</em> (reduction)/increase in income tax attributable to foreign exchange losses/(gains)</p>
            </td>
            <td>
                <p>&nbsp;(44)</p>
            </td>
            <td>
                <p>&nbsp;194</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
            <td>
                <p>&nbsp;(326)</p>
            </td>
            <td>
                <p>&nbsp;638</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>Less</em>: effect of deconsolidation of Yandex.Market</p>
            </td>
            <td>
                <p>&nbsp;-</p>
            </td>
            <td>
                <p>&nbsp;-</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
            <td>
                <p>&nbsp;-</p>
            </td>
            <td>
                <p>&nbsp;(28,244)</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>Add:</em> losses from repuchases of convertible debt</p>
            </td>
            <td>
                <p>&nbsp;-</p>
            </td>
            <td>
                <p>&nbsp;-</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
            <td>
                <p>&nbsp;6</p>
            </td>
            <td>
                <p>&nbsp;-</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>Less:</em> reduction in income tax attributable to losses from repuchases of convertible debt</p>
            </td>
            <td>
                <p>&nbsp;-</p>
            </td>
            <td>
                <p>&nbsp;-</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
            <td>
                <p>&nbsp;(1)</p>
            </td>
            <td>
                <p>&nbsp;-</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>Add:</em> amortization of debt discount</p>
            </td>
            <td>
                <p>&nbsp;173</p>
            </td>
            <td>
                <p>&nbsp;170</p>
            </td>
            <td>
                <p><em>-2%</em></p>
            </td>
            <td>
                <p>&nbsp;684</p>
            </td>
            <td>
                <p>&nbsp;728</p>
            </td>
            <td>
                <p><em>6%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>Less:</em> reduction in income tax attributable to amortization of debt discount</p>
            </td>
            <td>
                <p>&nbsp;(43)</p>
            </td>
            <td>
                <p>&nbsp;(43)</p>
            </td>
            <td>
                <p><em>0%</em></p>
            </td>
            <td>
                <p>&nbsp;(171)</p>
            </td>
            <td>
                <p>&nbsp;(182)</p>
            </td>
            <td>
                <p><em>6%</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p><em>Add:</em> losses resulting from sanctions in Ukraine</p>
            </td>
            <td>
                <p>&nbsp;-</p>
            </td>
            <td>
                <p>&nbsp;-</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
            <td>
                <p>&nbsp;393</p>
            </td>
            <td>
                <p>&nbsp;-</p>
            </td>
            <td>
                <p><em>n/m</em></p>
            </td>
        </tr>
        <tr>
            <td>
                <p>Adjusted net income</p>
            </td>
            <td>
                <p>&nbsp;5,249</p>
            </td>
            <td>
                <p>&nbsp;6,949</p>
            </td>
            <td>
                <p><em>32%</em></p>
            </td>
            <td>
                <p>&nbsp;15,359</p>
            </td>
            <td>
                <p>&nbsp;22,138</p>
            </td>
            <td>
                <p><em>44%</em></p>
            </td>
        </tr>
    </tbody>
</table>
<p><strong><br></strong></p>
<p  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="table_yandex table_yandex_rec">
    <tbody>
        <tr>
            <td colspan="2">
                <p><em>In RUB millions </em></p>
            </td>
            <td colspan="6">
                <p><strong>&nbsp;</strong></p>
            </td>
        </tr>
        <tr>
            <td colspan="2">
                <p></p>
            </td>
            <td>
                <p>U.S. GAAP Actual Net Income</p>
            </td>
            <td>
                <p>Net Income Margin (1)</p>
            </td>
            <td>
                <p>Adjustment (2)</p>
            </td>
            <td>
                <p>Adjusted EBITDA</p>
            </td>
            <td>
                <p>Adjusted EBITDA Margin (3)</p>
            </td>
            <td>
                <p>Adjusted Ex-TAC EBITDA Margin (4)</p>
            </td>
        </tr>
        <tr>
            <td colspan="2">
                <p>Three months ended December&nbsp;31,&nbsp;2018</p>
            </td>
            <td>
                <p>&nbsp;5,911</p>
            </td>
            <td>
                <p>15.2%</p>
            </td>
            <td>
                <p>&nbsp;6,412</p>
            </td>
            <td>
                <p>&nbsp;12,323</p>
            </td>
            <td>
                <p>31.7%</p>
            </td>
            <td>
                <p>37.7%</p>
            </td>
        </tr>
        <tr>
            <td colspan="2">
                <p>Twelve months ended December&nbsp;31,&nbsp;2018</p>
            </td>
            <td>
                <p>&nbsp;45,861</p>
            </td>
            <td>
                <p>35.9%</p>
            </td>
            <td>
                <p>&nbsp;(6,267)</p>
            </td>
            <td>
                <p>&nbsp;39,594</p>
            </td>
            <td>
                <p>31.0%</p>
            </td>
            <td>
                <p>36.9%</p>
            </td>
        </tr>
    </tbody>
</table>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<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, effect of
    deconsolidation of Yandex.Market, &nbsp;other
    (income)/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.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
<p  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="table_yandex table_yandex_rec">
    <tbody>
        <tr>
            <td colspan="2">
                <p><em>In RUB millions </em></p>
            </td>
            <td colspan="6">
                <p></p>
            </td>
        </tr>
        <tr>
            <td colspan="2">
                <p></p>
            </td>
            <td>
                <p>U.S. GAAP Actual Net Income</p>
            </td>
            <td>
                <p>Net Income Margin (1)</p>
            </td>
            <td>
                <p>Adjustment (2)</p>
            </td>
            <td>
                <p>Adjusted Net Income</p>
            </td>
            <td>
                <p>Adjusted Net Income Margin (3)</p>
            </td>
            <td>
                <p>Adjusted Ex-TAC Net Income Margin (4)</p>
            </td>
        </tr>
        <tr>
            <td colspan="2">
                <p>Three months ended December&nbsp;31,&nbsp;2018</p>
            </td>
            <td>
                <p>&nbsp;5,911</p>
            </td>
            <td>
                <p>15.2%</p>
            </td>
            <td>
                <p>&nbsp;1,038</p>
            </td>
            <td>
                <p>&nbsp;6,949</p>
            </td>
            <td>
                <p>17.9%</p>
            </td>
            <td>
                <p>21.3%</p>
            </td>
        </tr>
        <tr>
            <td colspan="2">
                <p>Twelve months ended December&nbsp;31,&nbsp;2018</p>
            </td>
            <td>
                <p>&nbsp;45,861</p>
            </td>
            <td>
                <p>35.9%</p>
            </td>
            <td>
                <p>&nbsp;(23,723)</p>
            </td>
            <td>
                <p>&nbsp;22,138</p>
            </td>
            <td>
                <p>17.3%</p>
            </td>
            <td>
                <p>20.7%</p>
            </td>
        </tr>
    </tbody>
</table>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<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/(gains) as adjusted for the
    (reduction)/increase in income tax attributable to the losses/(gains),
    effect of deconsolidation of Yandex.Market,
    and 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><strong>Contacts:</strong></strong></p>
<p>Investor Relations<br>Katya Zhukova<br>Phone: +7 495 974-35-38<br>E-mail: <a
        href="mailto:askIR@yandex-team.ru" rel="nofollow" target="_blank">askIR@yandex-team.ru</a>&nbsp;</p>
<p>Media Relations<br>Ilya Grabovskiy<br>Phone: +7 495 739-70-00<br>E-mail: <a
        href="mailto:pr@yandex-team.ru" rel="nofollow" target="_blank">pr@yandex-team.ru</a>&nbsp;</p>
