Document:

EX-10.23

 Exhibit 10.23 

Supplementary Agreement No. 1 

to Long-Term Lease Agreement w/o No. dated August 04, 2020 

(novation agreement) 
  

			
	Moscow	  	October 09, 2020          

 Internet Solutions Limited Liability Company, a legal entity incorporated and existing in accordance with the laws of
the Russian Federation, registered by Interdistrict Inspectorate No. 46 of the Federal Tax Service for Moscow on September 24, 2002 with the Primary State Registration Number (OGRN) 1027739244741, INN 7704217370, KPP 770301001, with its
registered office located at: 123112, Moscow, Presnenskaya nab., 10, Premises i, Floor 41, Room 6, represented by Geil Alexander Vladimirovich, acting under Power of Attorney 77 AG 4342333 dated June 17, 2020, certified by Moscow Notary Yu.V.
Krylova, Protocol No. 77/719-n/77-2020-1-1182, hereinafter referred to as the
Lessee, for one part, Internet Logistics Limited Liability Company, a legal entity incorporated and existing in accordance with the laws of the Russian Federation, registered by Interdistrict Inspectorate No. 12 of the Federal Tax
Service for the Tver Region on December 27, 2007 with the Primary State Registration Number (OGRN) 1076949002261, INN 6949003359, KPP 694901001, with its registered office located at: 170540, Tver Region, Kalininsky District, Burashevskoye
rural settlement, Borovlevo-2 industrial area, complex 1 A, represented by Sokolov Andrey Vitalyevich, acting under Power of Attorney 77 AG 5131747 dated September 22, 2020 certified by Moscow Notary
Yu.V. Krylova, Protocol No. 77/719-n/77-2020-3-980, hereinafter referred to as the
Former Lessor, for the second part, and Tetis Capital (Fiduciary Manager of Closed-End Investment Fund Tetis Capital), a legal entity incorporated and existing according to the laws of the
Russian Federation, registered by Interdistrict Inspectorate No. 46 of the Federal Tax Service for Moscow with the Primary State Registration Number (OGRN) 1107746374262, INN 7709853192, KPP 770201001, with its registered office located at:
Russian Federation, 129090, Moscow, Botanichesky Lane, 5, having License No. 21-000-1-00810 dated April 21, 2011 for
management of investment funds, mutual investment funds, and private pension funds, issued by the Federal Service for Financial Markets, represented by General Director Sheveleva Oksana Viktorovna, acting under the Articles of Association,
hereinafter referred to as the Lessor, for the third part, hereinafter collectively referred to as the Parties and individually as the Party, have entered into this Supplementary Agreement (hereinafter referred to as the Supplementary
Agreement) to the Long-Term Lease Agreement w/o No. dated August 04, 2020 (hereinafter referred to as the Agreement) as follows: 

1.    Due to transfer of the title to immovable and movable property (hereinafter the Facility), located at: Tver Region, Kalininsky
District, Burashevskoye rural settlement, Borovlevo-2 industrial area, complex No. 1 A, and leased under the Agreement, from Internet Logistics Limited Liability Company to Tetis Capital (Fiduciary
Manager of Closed-End Investment Fund Tetis Capital), based on the Real Estate Sale and Purchase Agreement dated September 25, 2020 made between the Former Lessor on the Seller’s part and the Lessor
on the Buyer’s part (hereinafter referred to as the Sale and Purchase Agreement), which is evidenced by the registration entry made in the Unified State Register of Immovable Property, all the rights and obligations of the Former Lessor under
the Agreement on the basis of Clause 1 of Article 617, Subclause 5 of Clause 1 of Article 387 of the Civil Code of the Russian Federation, have passed to the Lessor. 

2.    Due to transfer of the title to the Facility, the Parties agreed to replace the party (Lessor) under the Agreement by Tetis Capital
(Fiduciary Manager of Closed-End Investment Fund Tetis Capital), and to amend the Agreement accordingly, including the following: 

2.1.    In the Recitals and throughout the whole text of the Agreement, replace the name of the Former Lessor, Internet Logistics
Limited Liability Company (in the relevant cases and declensions), by the name of the Lessor - Tetis Capital (Fiduciary Manager of Closed-End Investment Fund Tetis Capital). Replace the address and details of
the Former Lessor in the Agreement by the address and details of the Lessor specified in Clause 12 of the Supplementary Agreement. 

  
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 2.2.    The Parties have agreed to amend Clauses 6.1. and 6.2. of the Agreement to
read as follows: 
 “6.1. Term of the Agreement. This Agreement shall become effective for the Parties upon signature thereof, namely from
August 04, 2020, for third parties - upon state registration thereof, and shall be valid until September 30, 2030 (inclusive) (the “Agreement Expiry Date”). The Agreement expiry/termination shall not relieve the Parties from proper
performance of their obligations hereunder and the liability for violation hereof, all settlement obligations of the Parties as in effect as of the Agreement Expiry Date shall remain in force and shall be valid until performance thereof by the
Parties; 
 6.2.    Lease Period. The Lease Period shall commence on the date of the Acceptance Certificate execution and
shall expire on September 30, 2030 (inclusive) (the “Lease Period Expiry Date”), subject to the provisions of Clause 6.1 hereof.”. 

2.3.    The Parties have agreed to amend Clause 10.6. of the Agreement to read as follows: 

“10.6. Subject to Article 613 of the Civil Code of the Russian Federation, the Lessor hereby notifies the Lessee that: 

 

	•	 	 in relation to the Facility a pledge/mortgage will be registered in favor of ... by virtue of Article 69.1 of
Federal Law No. 102-FZ dated July 16, 1998 On Mortgage (Real Estate Pledge) on the basis of the Real Estate Sale and Purchase Agreement dated September 25, 2020 and Non-revolving Loan Facility Agreement No. ... dated ... made between the Lessor and ...; 

  

	•	 	 a mortgage agreement will be made between the Lessor as the Mortgagor and ... as the Mortgagee (to secure the
above Non-revolving Loan Facility Agreement No. ... dated ...) and to which the Lessor will pledge the Facility pursuant to the terms of the said agreement. In such case, the Lessee shall provide the
staff of the Mortgagee with unimpeded access to the Facility during the Lessee’s working hours to conduct scheduled inspections”. 

2.4.    The term “Lease Payment” shall be rephrased as follows: 

“Lease Payment means a fee for temporary possession and use of the Facility, and includes: the Basic Lease Payment, the Additional Part of the
Lease Payment, the Variable Part of the Lease Payment, Operating Expenses of the Lessor, and is described in more detail in Section 7 hereof. The Lease Payment is subject to charge and payment according to the provisions hereof”. 

2.5.    The term “Certificate of Delineation of Operational Responsibilities” shall be rephrased as follows: 

“Certificate of Delineation of Operational Responsibilities and Expenses of the Parties means a document which determines delineation of
responsibilities and obligations of the Parties regarding repair, maintenance and management of the Facility (including the Utilities) and which is given in Appendix No. 3 hereto (Clause 19.8.3)”. 

2.6.    The term “Utilities” shall be rephrased as follows: 

“Utilities” means: the utilities consumed by the Lessee at the Facility, to be determined subject to the metering devices reading regarding
power supply and provided/reserved power, water supply (if the respective contract is signed), water discharge (if the respective contract is signed), gas supply, or (if metering devices are not installed) in proportion to the Facility area under
the tariffs established by the respective providers of the Utilities”. 
 2.7.    The term “Lessor’s Operating
Expenses” shall be rephrased as follows: 
 “Lessor’s Operating Expenses” means the service fee being part of the Lease
Payment and payable by the Lessee, and determined according to Clause 7.1.4. hereof”. 

  
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 2.8.    The Parties have agreed to amend the third subparagraph from the bottom of
Clause 3.1 of the Agreement to read as follows: 
 “The fact of lack of the fixed SPZ (sanitary protection zones) at the Facility, and also the fact
of lack of the fixed (established) SPZ at other facilities from which SPZ are actually or may be established for the Facility.”. 

2.9.    The Parties have agreed to amend Clause 4.1.3. of the Agreement to read as follows: 

“4.1.3. in case of performance of any Works of the Lessee, the Lessee shall obtain the prior written consent of the Lessor (which consent shall not
be unreasonably withheld); the said consent shall be provided within a period of no less than ten (10) business days and no more than twenty (20) business days upon receipt of the request, subject to the Lessee’s submission of all
necessary documentation, including, inter alia, the design documentation (except for the Lessee’s Works which performance is necessary and urgent due to threat to human life/health). The Lessor shall not be entitled to refuse coordination of
the Lessee’s Works to the Lessee (except that there is a danger of the Facility destruction) if the Lessee assumed the obligation before the Lease Term expiry/early termination to return the Facility in the state existing prior to performance
of the respective Works of the Lessee. The Lessee shall legitimize the alterations/re-equipment made by it, and shall do it using its own efforts and at its own expense (including making amendments to the data
contained in the Unified State Register of Immovable Property, arranging cadastral registration, drafting the utility line diagrams, floor plans and the legends (if applicable)), and the Lessor shall vest the Lessee with necessary authority and be
ready to render other required assistance therein.”. 
 2.10.    The Parties have agreed to amend Subclauses A and B of
Clause 5.1 of the Agreement to read as follows: “5.1. A) Independently maintain the Facility, including electrical installations, heating, air conditioning and ventilation systems, fire-fighting equipment and fire-fighting systems,
and all other utilities, devices and equipment in proper condition and in compliance with all statutory and standard technical rules and regulations, carry out proper current repairs. 

In such case, the Lessee shall on its own sign an agreement with a specialized company for systems and equipment maintenance. If the Lessee improperly
performs the systems and equipment maintenance and does not eliminate the violations within the period agreed upon by the Parties, and does not contest thereof, the Lessor shall have the right to independently maintain these systems and equipment
with charging the documented expenses to the Lessee. 
 In case of the Lessee’s disagreement, the Parties shall have the right to engage an independent
expert (selected upon their mutual agreement) to render a conclusion on the quality and proper maintenance of the Facility systems and equipment. If the independent expert’s conclusion confirms improper maintenance of the systems and equipment,
the Lessor shall be entitled to independently maintain these systems and equipment with charging the documented expenses to the Lessee, including the costs of the independent expert. 

B) In order to perform any Works of the Lessee at the Facility, the Lessee shall obtain the prior written consent of the Lessor (which consent shall
not be unreasonably withheld), subject to the Lessee’s submission of all necessary documents in accordance with the requirements of the applicable law. The Lessee shall not be entitled to make a claim to reduce the Lease Payment for the period
of repair or finishing works.”. 
 2.11.    The Parties have agreed to amend Clause 5.2.1. of the Agreement to read as follows:

 “5.2.1. maintain the Facility on its own (or using third party efforts) and at its own expense in good condition (and appoint responsible
employees, ensure systematic monitoring of the condition of the Facility and its Utilities located within its boundaries). examine once a year (together with representatives of the Lessor) technical condition of the Facility and the Utilities
located within its boundaries and, if necessary, perform current repairs of the Facility and the Utilities located within its boundaries. The Lessee shall perform maintenance, operation, current repairs using its own efforts and at its own expense.

  
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 The Lessor shall have the right to conduct technical audit of the Facility (audit of the Lessee’s
Operational Maintenance). In case the Lessee does not perform current repairs and the Lessee’s Operational Maintenance, the Lessor shall have the right, ten (10) business days after notification of the Lessee and in case the Lessee has not
started the violation elimination and has not specified a reasonable deadline for completion of the violation elimination, to perform the said works (including the Lessee’s Operational Maintenance) either using its own efforts or efforts of the
contractors, and the Lessee shall pay the cost thereof according to the open book principle within five (5) business days upon receipt of Lessor’s invoice. In such case, the Lessee shall: perform the Facility Maintenance/Lessee’s
Operational Maintenance, as well as any other works at the Facility, including current repair of the Facility and the Utilities located within its boundaries, in accordance with the current specifications/requirements/regulations. In case the
Facility Maintenance/Lessee’s Operational Maintenance and any other works at the Facility differ from the current specifications/requirements/regulations, they shall be subject to prior written agreement with the Lessor.”. 

2.12.    The Parties have agreed to amend Clause 7.1, Subclauses 7.1.1. - 7.1.3. of the Agreement to read as follows: 

“7.1. For the use of the Facility and for the use of the Parking Lot, the Lessee shall pay the Lease Payment to the Lessor during the entire Lease
Period. The amount of the VAT rate, and the monthly amount of the Lease Payment (incl. of VAT), shall be determined in accordance with the tax rate effective on the date of the services provision (on the last day of the respective month), pursuant
to Article 164, Chapter 21, of the Tax Code of the Russian Federation. 
 The Lease Payment includes: 

7.1.1.    Basic Lease Payment. The total amount of the Basic Lease Payment is two hundred forty-four million two hundred and
seventy-nine thousand rubles (RUB 244,279,000), with VAT payable separately, per year for the entire Facility. 

7.1.2.    Additional Part of the Lease Payment - part of the Lease Payment equal to the cost of ongoing monitoring of the
Facility condition, periodic survey thereof and inspection of the condition thereof, arranged by the Lessor no more than once a year, with the right to conduct a technical audit, in the amount of at least one million two hundred and fifty thousand
rubles (RUB 1,250,000), with VAT payable separately, and no more than two million five hundred thousand rubles (RUB 2,500,000), with VAT payable separately, per year, based on the amount of actual costs of the Lessor to pay the said activities. At
the same time, the Lessee shall allocate one (1) workplace at the Facility for the representative of the Lessor to conduct ongoing monitoring of the Facility condition. 

Additional Part of the Lease Payment for each month of the lease shall be accrued and paid, based on the amount of one million two hundred and fifty thousand
rubles (RUB 1,250,000), with VAT payable separately, per year, with subsequent adjustment, based on the amount of the actual costs of the Lessor to pay the said activities, within fifteen (15) business days upon issue of the invoice with the
attached supporting documents. 
 7.1.3.    Variable Part of the Lease Payment, which means part of the Lease Payment
equal to the Lessor’s cost of the utilities and services (delivered under the respective agreements) consumption of which by the Lessee shall be measured in accordance with actual consumption thereof at the tariffs/prices of the Utilities
providers, namely: water supply service shall be measured by the meters installed at the Facility or under the subscription fee in accordance with the terms of the water supply contract and shall be paid by the Lessee to the Lessor in the amount of
100% of the cost of such service at the rates established by the respective Utilities providers, power supply service and the provided/reserved power shall be paid by the Lessee to the Lessor in the amount of 100% of the cost of such service
established by the respective Utilities providers; gas supply service shall be paid by the Lessee to the Lessor in the amount of 100% of the cost of such service established by the respective Utilities providers; water discharge service (storm
water, domestic sewage) (if applicable) shall be measured by the meters installed at the Facility or under the subscription fee in accordance with the terms of the relevant contract, shall be paid by the Lessee to the Lessor in the amount of 100% of
the cost of such service established by the respective Utilities providers. 

  
 4 

 At the same time, the Parties have mutually agreed that the Lessee shall pay the Variable Part of the Lease
Payment in the amount of the Lessor’s costs of the utilities consumed by the Lessee on the basis of the existing tariffs/prices established by the utilities providers. 

Increase in the cost of utilities consumed by the Lessee on the basis of the existing tariffs/prices established by the utilities providers, which occurred
due to the circumstances depending on the Lessor, shall not be payable by the Lessee, and shall be paid by the Lessor. 
 Upon the Lessee’s written
request, the Lessor shall vest the Lessee with the necessary authority (power of attorney) to interact with power supply companies on behalf of the Lessor. 

At the same time, the Parties have mutually agreed that the Lessee shall not compensate the Lessor for the penalties and fines charged to the Lessor by the
utilities providers because of the Lessor’s violation of payment terms and procedure under the contracts with the utility providers. (remainder of text unchanged)”. 

2.13.    The Parties agreed to renumber the clauses of the Agreement, namely Clause 7.2 shall be considered Clause 7.1.4, Clauses 7.2.1
- 7.2.3 shall be considered Clauses 7.1.4.1 - 7.1.4.3 respectively, and the first paragraph of Clause 7.1.4 of the Agreement shall be amended to read as follows: 

“7.1.4.    Lessor’s Operating Expenses means the service fee being part of the Lease Payment payable by the
Lessee, and will be incurred under the open book principle. The Lessee shall be entitled no frequently than once a year at the year-end to conduct audit of the Lessor’s expenses incurred by the latter as
the owner of the lease item. The Lessor’s Operating Expenses include: (remainder of text unchanged)”. 

2.14.    The Parties agreed to consider all references to Clauses 7.2, 7.2.1, 7.2.2, 7.2.3 of the Agreement to be amended in accordance
with the changed numbering of the clauses specified in Clause 2.13 of this Supplementary Agreement. 
 2.15.    The Parties
agreed to supplement the Agreement with Clause 7.1.5 to read as follows: 
 “7.1.5. The amount of the Lessor’s Estimated Operating
Expenses shall be determined as follows: 
 7.1.5.1.    The Lessor shall determine the amount of the Lessor’s Estimated
Operating Expenses specified in Clause 7.1.4.1 of the Agreement for each calendar year by or before April 01 of the calendar year for which the amount of the Lessor’s Estimated Operating Expenses specified in Clause 7.1.4.1 of the
Agreement is determined, and shall communicate it to the Lessee by the respective Notice. 
 At the same time, the Parties agreed that for the period
from the date of the Lessor’s title to the Facility until December 31, 2020 (inclusive) the amount of the Lessor’s Estimated Operating Expenses specified in Clause 7.1.4.1 of the Agreement
shall be three million five hundred thousand rubles (RUB 3,500,000), with VAT payable separately, per month. 
 For each subsequent year, the amount of the
Lessor’s Estimated Operating Expenses specified in Clause 7.1.4.1 of the Agreement shall be determined as the amount of the Lessor’s Actual Operating Expenses incurred in the year preceding the one for which the amount of the Lessor’s
Estimated Operating Expenses is to be determined, increased by no more than fifteen percent (15%), except for the cases of changes in the Law which entail increase in the tax burden of the Facility owner, taking into account the increase in expenses
caused by increase in the tax burden due to the statutory changes, in the event of which the restriction of increase specified in this clause shall not apply. 

7.1.5.2.    The Lessor shall determine the amount of the Lessor’s Estimated Operating Expenses specified in Clause 7.1.4.2 of
the Agreement for each calendar year by or before April 01 of the calendar year for which the amount of the Lessor’s Estimated Operating Expenses specified in Clause 7.1.4.2 of the Agreement is determined, and shall communicate it to the
Lessee by the respective Notice. 

  
 5 

 If, for any of the subsequent years, the amount of the Lessor’s Estimated Operating Expenses specified
in Clause 7.1.4.2 of the Agreement exceeds the amount of the Lessor’s Actual Operating Expenses specified in Clause 7.1.4.2 of the Agreement incurred by the Lessor in the year preceding the one for which the amount of the Lessor’s
Estimated Operating Expenses specified in Clause 7.1.4.2 of the Agreement is to be determined, by more than fifty percent (50%), the Lessor shall, in consultation with the Lessee, review offers of the insurance companies regarding the Facility
insurance, select an insurance company that meets the requirements of the Parties and offers insurance of the Facility at the lowest amount of insurance premium, and shall draw up a Notice on the Lessor’s Operating Expenses specified in Clause
7.1.4.2 of the Agreement, taking into account the offer of the selected insurance company. 
 7.1.5.3.    If the Lessor shall
bear the Operating Expenses specified in Clause 7.1.4.3 of the Agreement, the Lessor shall determine the amount of the Lessor’s Estimated Operating Expenses specified in Clause 7.1.4.3 of the Agreement for each calendar year by or before
April 01 of the calendar year for which the amount of the Lessor’s Estimated Operating Expenses specified in Clause 7.1.4.3 of the Agreement is to be determined and communicated to the Lessee by the respective Notice. 

For each subsequent year, the amount of the Lessor’s Estimated Operating Expenses specified in Clause 7.1.4.3 of the Agreement shall be the amount equal
to the amount of the Lessor’s Actual Operating Expenses specified in Clause 7.1.4.3 of the Agreement incurred by the Lessor in the year preceding the one for which the amount of the Lessor’s Estimated Operating Expenses specified in Clause
7.1.4.3 of the Agreement is to be determined, increased by no more than fifteen percent (15%), except for the cases of changes in the Law which entail increase in the payments set forth in Clause 7.1.4.3 of the Agreement, in the event of which the
restriction specified in this clause shall not apply. 
 7.1.5.4.    Within ninety (90) calendar days after the end of each
calendar year, the Lessor shall provide the Lessee with a copy of the Lessor’s Operating Expenses summary estimate (the Report). Such Lessor’s Report shall be final and shall not be subject to revision, except for material breach of the
terms of this Lease Agreement, an error, identification by the audit of the documents confirming expenses that form the Lessor’s Actual Operating Expenses, unreasonable, overstated, irrelevant expenses. 

Difference between the Lessor’s Actual Operating Expenses and the Lessor’s Estimated Operating Expenses (paid during the calendar year by the
Lessee) for the previous calendar year shall be accrued in the fourth month of the current calendar year, and shall be payable to one Party by the other Party within ten (10) business days upon receipt of the claim for return or
surcharge of the difference between the amounts of the Lessor’s Estimated Operating Expenses and the Lessor’s Actual Operating Expenses. 
 Upon
expiry of the Lease Term, the difference between the Lessor’s Actual Operating Expenses and the Lessor’s Estimated Operating Expenses shall be returned to the Lessee within twenty (20) business days from the Lease Agreement Expiry
Date or shall be paid by the Lessee to the Lessor within twenty (20) business days upon receipt of the respective Lessor’s invoice. 
 The Lessee
shall have the right (upon prior coordination of the meeting time, and at the place in Moscow specified by the Lessor) to audit the documents supporting the expenses forming the Lessor’s Operating Expenses and determining the amount of the
Lessor’s Actual Operating Expenses. The Lessee may conduct such audit no frequently than once a calendar year within ninety (90) days upon receipt of the Lessor’s Report for the previous calendar year and only in respect of such past
calendar year.” 
 2.16.    The Parties agreed to amend Clause 7.3. of the Agreement to read as follows: 

“7.3. The Lessee’s costs of the Facility Operational Maintenance, including, inter alia, maintenance of buildings/facilities being part of the
Facility, including maintenance and current repairs of dock gates, dock levelers, and other utility infrastructure facilities (including fire-fighting equipment with the involvement of specialized organizations, sewage facilities, pumps,
diesel-generator unit, boiler houses, gas pipelines, ventilation, cooling, etc.), current repair/restoration of asphalt coating, as well as garbage and/or snow removal, and/or related environmental payments or fees, if applicable, will be incurred
directly by the Lessee. If the Lessee fails to perform the obligations stipulated by this clause of the Agreement, or performs the above obligations with poor quality, which is not contested by the Lessee, the consequences provided for in Clauses
5.2.1., 5.2.6 of the Agreement shall apply. 

  
 6 

 In case of the Lessee’s disagreement, the Parties shall have the right to engage an independent expert
(selected upon their mutual agreement) to render a conclusion on the quality and proper maintenance of the Facility systems and equipment. If the independent expert’s conclusion confirms improper maintenance of the systems and equipment, the
Lessor shall be entitled to independently maintain these systems and equipment with charging the documented expenses to the Lessee, including the costs of the independent expert. In this case, these reasonable and necessary expenses (Lessor’s
expenses of the Facility systems and equipment maintenance) shall determine the amount of Additional Operating Expenses and be included in the Lease Payment. Additional Operating Expenses shall be accrued at the moment of elimination by the Lessor
of improper maintenance of the Facility systems and equipment. The Lessee shall pay the Additional Operating Expenses in a lump sum within ten (10) business days upon receipt of the respective invoice.”. 

2.17.    The Parties agreed to amend Clause 7.5.1. of the Agreement to read as follows: 

“7.5.1. The Lease Payment consisting of the Basic Lease Payment, Additional Part of the Lease Payment, the Lessor’s Operating Expenses
(determined by calculation) and the Variable Part of the Lease Payment (determined by calculation) shall be paid as follows: 
 A) Basic Lease
Payment which amount is specified in Clause 7.1.1. hereof shall be paid in monthly advance payments for each calendar month of the Lease Period by or before the fifteenth (15) day of the month preceding the payable lease month (the Payment
Day); 
 B) Additional Part of the Lease Payment specified in Clause 7.1.2. of the Lease Agreement shall be paid in equal monthly advance
payments for each calendar month of the Lease Period by or before the fifteenth (15) day of the month preceding the payable lease month (the Payment Day) on the basis of the Notice and invoice from the Lessor; 

C) Lessor’s Operating Expenses shall be paid in monthly advance payments for each calendar month of the Lease Period by or before the fifteenth
(15) day of the month preceding the payable lease month (the Payment Day), and for the first four months of the calendar year the Lessor’s Operating Expenses shall be paid in the amount determined in the preceding year. Upon the
Lessee’s receipt of the Notice on the Lessor’s Estimated Operating Expenses for the current calendar year, the Lessor’s Operating Expenses for the first four months shall be recalculated. The amount of the above recalculation shall be
taken into account when paying the Lessor’s Estimated Operating Expenses for the fifth month of the calendar year and shall be charged in the fifth month of the calendar year; 

D) Variable Part of the Lease Payment shall be paid in monthly advance payments for each calendar month of the Lease Period by or before the fifteenth
(15) day of the month preceding the payable lease month (the Payment Day). The Variable Part of the Lease Payment shall be determined by calculation, by adding up the amounts of the Variable Part of the Lease Payment for the previous three
months and dividing the amount received by three. 
 At the same time, the amount of the Variable Part of the Lease Payment at the end of the month shall be
adjusted taking into account Clause 7.1.3 hereof: the overpayment shall be returned or credited to the payment of the next scheduled payment of the Variable Part of the Lease Payment, the underpayment shall be paid by the Lessee on the day of
payment of the next scheduled payment of the Variable Part of the Lease Payment.”. 
 2.18.    The Parties agreed to amend
Clause 7.5.2. of the Agreement to read as follows: 
 “7.5.2. The Lessor shall invoice the Lessee for payment of the Basic Lease Payment, the
Additional Part of the Lease Payment, the Variable Part of the Lease Payment, the Lessor’s Operating Expenses specified in Clauses 7.1.4.1 to 7.1.4.3 of the Agreement, and for any other payments within five (5) business days before the
payment date. Invoices shall be sent to the postal and email address of the Lessee specified in Clause 15.2 hereof. In case of non-receipt of the invoice or invoices, the Lessee shall in any case pay monthly
the Basic Lease Payment, the Lessor’s Operating Expenses, and the Variable Part of the Lease Payment in the amount corresponding to the previous payment.”. 

  
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 2.19.    The Parties agreed to amend Clause 7.7. of the Agreement to read as follows:

 “7.7. The Lessee shall make payments under this Lease Agreement by wire transfer to the bank account specified by the Lessor herein, and
the Lessor shall be entitled to change such bank account to another account in the Russian bank during the Lease Period by giving the Lessee a notice within five (5) business days prior to the next payment date.”. 

2.20.    The Parties agreed to amend Clause 7.8. of the Agreement to read as follows: 

“7.8. All payments payable by the Lessee to the Lessor in accordance with this Lease Agreement are specified in this Lease Agreement excluding VAT,
unless otherwise expressly provided hereby. The amount of the VAT rate, and the monthly cost of the services (inclusive of VAT), shall be determined in accordance with the tax rate effective on the date of the services provision (on the last day of
the respective month), according to Article 164, Chapter 21, of the Tax Code of the Russian Federation. 
 If, in accordance with the law of the Russian
Federation, the VAT amount is increased after the date of payment of any advance payment made by the Lessee, the Lessee shall pay to the Lessor the difference between the effective VAT amount as of the date of advance payment made by the Lessee and
the new VAT amount established in accordance with the law of the Russian Federation as of the date of shipment/payment. The VAT surcharge (up to the effective rate) will be specified in the relevant Lessor’s invoice and will be payable by the
Lessee according to the same procedure as the payment amounts themselves. The Parties agreed that in any other case retrospective revision of the Lessee’s financial obligations, which is not provided for by this Agreement, shall not be carried
out upwards. 
 If the VAT amount is decreased in accordance with the law of the Russian Federation after the date of payment of any payment made by the
Lessee, as a result of which the Lessee has made an excess VAT payment, the Lessor shall set off such excess payment against future payments of the Lease Payment hereunder.”. 

2.21.    The Parties agreed to amend Clause 7.9. of the Agreement to read as follows: 

“7.9. In case the Lessee makes any payment hereunder which is subject to VAT, the Lessor shall issue a
VAT-invoice/UTD to the Lessee within five (5) calendar days from the date of the event due to which the VAT-invoice is made, according to Clauses 1 and 2 of Article
6.1, Clause 3 of Article 168 of the Tax Code of the Russian Federation; in case of improper performance of this obligation by the Lessor, it shall compensate the Lessee for the losses arisen from the impossibility to accept the VAT to deduction due
to lack of properly and timely issued VAT-invoice/UTD, and shall do it in the amount of VAT, which was subject to indication in the respective VAT-invoice/UTD, increased
by twelve percent (12%) per annum.”. 
 2.22.    The Parties agreed to amend Clause 10.3. of the Agreement to read as follows:

 “10.3. Lessor and Lessee’s Operational Maintenance 

The Lessor shall provide the Lessor’s Operational Maintenance except for the Lessee’s Operational Maintenance which the Lessee shall perform in
accordance with this Agreement, and the Lessee shall pay the Operating Expenses subject to the procedure and in the amount provided for herein.”. 

2.23.    The Parties agreed to amend Clause 12.5. of the Agreement to read as follows: 

“12.5 Regardless of other rights and remedies which the Lessee has under this Lease Agreement or under the law of the Russian Federation, if the
Lessee terminates this Lease Agreement due to violation thereof by the Lessor, the Lessee shall have the right to demand payment from Tetis Capital, and Tetis Capital shall pay a penalty at its own expense in the amount equal to fourteen
(14) monthly Basic Lease Payments (at the rates in effect at the time of the Lease Agreement termination) and, in addition to the penalty, reimburse the Lessee for its documented expenses of the Lessee’s Works.”. 

  
 8 

 2.24.    The Parties agreed to amend Clause 12.6. of the Agreement to read as
follows: 
 “12.6. Regardless of other rights and remedies which the Lessor has under this Lease Agreement or under the law of the Russian
Federation, if the Lessor terminates this Lease Agreement due to violation thereof by the Lessee, the Lessor shall have the right to demand payment from the Lessee, and the Lessee shall pay a penalty in the amount equal to fourteen (14) monthly
Basic Lease Payments (at the rates in effect at the time of the Lease Agreement termination) and, in addition to the penalty, reimburse the Lessor for its documented expenses related to the Lessee’s failure to perform its obligations hereunder,
and subject to Clause 7.12.1.11. hereof the amount of the Security Payment shall not be returned to the Lessee and shall remain in the Lessor’s possession as a penalty to be offset against payment of the penalty provided for in this clause but
not in addition thereto.” 
 2.25.    The Parties agreed to amend Clause 12.8. of the Agreement to read as follows: 

“12.8. Limitation of liability shall not apply to the liability of the Parties if due to faulty actions/omission of one of the Parties the Facility
is partially damaged and/or destroyed, and the other Party, despite proper performance of its obligations to insure the Facility, is deprived of the opportunity to receive insurance compensation. The fault of the Party shall be proved by the other
Party.”. 
 2.26.    The Parties agreed to amend Clause 17.2.3. of the Agreement to read as follows: 

“17.2.3. professional consultants or auditors, as well as banks, appraisers of the Party; or”. 

2.27.    The Parties agreed to amend Clause 2. of Appendix No. 2 to the Agreement to read as follows: 

“2. The Lessor shall transfer and the Lessee shall accept hereunder the utilities and equipment specified in Appendices No. 1A, 1B and 1D to
the Agreement.”. 
 2.28.    The Parties agreed to approve the amended Appendix No. 3 to the Agreement to read as Appendix
No. 1 to this Supplementary Agreement “Certificate of Delineation of Operational Responsibilities and Expenses of the Parties”. 

2.29.    The Parties agreed to supplement the Agreement with Appendix No. 9 “List of Documents Delivered to the Lessee”
and to approve it as amended to read as Appendix No. 2 to this Supplementary Agreement. 
 3.    The Parties have determined
that: 
 3.1.    The Former Lessor shall, within five (5) business days from the date of registration of the
Lessor’s title to the Facility, return to the Lessee the Security Payment in the amount of sixty nine million one hundred fifty-four thousand two hundred and eighty-four rubles (RUB 69,154,284), inclusive of VAT worth eleven
million five hundred twenty five thousand seven hundred and fourteen rubles (RUB 11,525,714), previously paid by the Lessee to the Former Lessor in accordance with Clause 7.12. of the Agreement. 

3.2.    The Lessee shall pay to the Lessor the Security Payment in the amount of sixty nine million one hundred fifty-four thousand
two hundred and eighty-four rubles (RUB 69,154,284), inclusive of VAT worth eleven million five hundred twenty five thousand seven hundred and fourteen rubles (RUB 11,525,714), within ten (10) business days
from the date of registration of the Lessor’s title to the Facility in accordance with Clause 7.12. of the Agreement. The payment obligation not performed upon expiry of the specified period shall be deemed overdue. 

4.    The Lessee shall pay the Lease Payment under the Agreement according to the following procedure: for the period from the date
of the Agreement execution through the date preceding the date of occurrence of the Lessor’s title to the Facility - to the Former Lessor, for the period from the date of occurrence of the Lessor’s title to the Facility through the date of
the Agreement term expiry - to the Lessor. 
 The Parties hereby agree that the Lease Payment for the period from August 04, 2020 through the date preceding
the date of occurrence of the Lessor’s title to the Facility shall be paid by the Lessee to the Former Lessor within five (5) business days from the date of this Supplementary Agreement execution. 

The Parties hereby agree that the Lease Payment for the period from the date of occurrence of the Lessor’s title to the Facility through October 31,
2020 shall be paid by the Lessee to the Lessor within five (5) business days from the date of this Supplementary Agreement execution. 

  
 9 

 At the same time, the Parties have determined that a Reconciliation Certificate shall be signed between the
Former Lessor and the Lessee as of the date preceding the date of occurrence of the Lessor’s title to the Facility, and shall do it within five (5) business days from the date of registration of the Facility title transfer to the Lessor.

 4.1.    From the date of the state registration of the Facility title transfer until the date of execution by the Lessor of
the respective agreements with the utility (power and gas supply) providers in relation to the Facility, the Lessor shall compensate the Former Lessor for the cost of the consumed utilities, and within five (5) business days upon issue by the
Former Lessor of the invoices/invoices with the documents supporting the facts of payment and services provision (certificates, invoices, VAT-invoices/universal transfer documents). The Lessor undertakes to
sign the respective agreements with the utility (power and gas supply) providers. The Lessor shall notify the Former Lessor and the Lessee in writing of the execution of such agreement within three (3) business days from the date thereof. As of
the date of the agreements with the utility (power and gas supply) providers, the Parties shall take and record the readings of the respective utilities meters. 

5.    Starting from the date of this Supplementary Agreement, the Lessee shall transfer all payments established by the Agreement
to the Lessor according to the details specified in this Supplementary Agreement. 
 6.    The Lessor assumes all rights and
obligations of the Former Lessor arising from the Agreement in their entirety. 
 7.    This Supplementary Agreement is an
integral part of the Agreement, and in any other cases not covered by this Supplementary Agreement the Parties shall be governed by the provisions of the Agreement. 

8.    This Supplementary Agreement shall become effective and binding on the Parties from the day of signing thereof. The
Supplementary Agreement applies to relations of the Parties that actually arose from the date of registration of transfer to the Lessor of the title to the last of the real estate items being part of the Facility. 

9.    The records made by hand in the lines specifically provided for filling in the text of the Supplementary Agreement have been
agreed upon and confirmed by the Parties. These records shall not be treated as additions. 
 10.    The Supplementary Agreement
is made in four (4) identical copies having equal legal force, one for the Former Lessor, one for the Lessor, one for the Lessee, and one for the registration authority. 

11.    State registration of this Supplementary Agreement, including the registration fees, shall be the responsibility of the
Former Lessor. 
 12.    Addresses, Details and Signatures of the Parties: 

Former Lessor: 
 Internet Logistics Limited Liability
Company 
 Location/Postal address: 170540, Tver Region, Kalininsky District, 

Burashevskoye rural settlement, Borovlevo-2 industrial area, complex No. 1 A 

Lessor: 
 Tetis Capital (Fiduciary Manager of Closed-End Investment Fund Tetis Capital) 
 Location/Postal address: Russian Federation, 129090, Moscow, Botanichesky
Lane, 5 Contact: 
 Lessee: 
 Internet Solutions
Limited Liability Company 
 Location: 123112, Moscow, Presnenskaya nab., 10, Premises i, Floor 41, Room 6 

  
 10 

 Appendices: 

Appendix No. 1 “Appendix No. 3 to the Agreement “Certificate of Delineation of Operational Responsibilities and
Expenses of the Parties” 
 Appendix No. 2 to the Agreement “Appendix to the Agreement “List of Documents
Delivered to the Lessee” 
 For the Former Lessor
                                         
                           /signature/             
                                         
   /A.V. Sokolov 
 /Seal: Internet Logistics Limited Liability Company/ 

For the Lessor
                                         
                                      /signature/  
                                         
                      /Sheveleva O.V. 

/Seal: Tetis Capital (Fiduciary Manager of Closed-End Investment Fund Tetis Capital) OGRN 1107746374262INN 7709853192
103588 Moscow/ 
 For the Lessee
                                         
                                     /signature/   
                                         
                     / Geil A.V. 

/Seal: Internet Solutions Limited Liability Company , Reg.No. 103588 Moscow/ 

  
 11EX-10.24

 Exhibit 10.24 

PRIVATE PLACEMENT AGREEMENT 

IN RESPECT OF 

OZON HOLDINGS PLC 

 THIS PRIVATE PLACEMENT AGREEMENT (this “Agreement”) is made on November 16,
2020 by and among: 
  

	(1)	 The investors listed on Schedule A hereto (each, an “Investor” and collectively, the
“Investors”); and 

  

	(2)	 OZON HOLDINGS PLC, a public company limited by shares registered under Cyprus law with its registered
address at 2-4 Arch. Makarios III, 9th Floor Capital Center, Nicosia, Cyprus (the “Company”), 

The Investors and the Company shall also be referred to herein individually as a “Party” and, collectively, the “Parties”.

 WHEREAS: 
  

	(A)	 The Company is a company incorporated under the laws of the Republic of Cyprus. The Company operates a pan-Russian e-commerce platform. 

  

	(B)	 The registered share capital of the Company currently amounts to $141,730.156, which consists of 141,730,154
issued and fully paid ordinary shares with a nominal value of $0.001 (“Shares”) and two issued and fully paid Class A shares with a nominal value of $0.001. 

 

	(C)	 The Company is preparing for a public offering of American Depositary Shares (“ADSs”)
representing Shares (with each ADS representing one Share) listed on The Nasdaq Global Select Market (the “IPO”) pursuant to the Company’s registration statement on Form F-1 (File no. 333-249810) (as such may be amended, and together with any other registration statement related thereto, the “Registration Statement”). 

 

	(D)	 The Investors desire to purchase from the Company, and the Company desires to issue and sell to the Investors,
the Sale Securities (as defined herein), concurrently with, or as soon as practicable following, the consummation of the IPO and on the terms and subject to the conditions set forth in this Agreement. 

IT IS AGREED as follows: 
 1 Definitions and
Interpretation 
  

	1.1	 Capitalized terms used herein shall have the meanings assigned to such terms in the text of this Agreement.

  

	1.2	 Unless the context or the express provisions of this Agreement require otherwise, headings and subheadings of
the paragraphs and/or provisions contained herein are for convenience and reference purposes only and shall not have any effect on the meaning or construction of any of the provisions hereof. 

 

	2	 Sale and Purchase of Sale Securities 

 

	2.1	 Subject to the terms and conditions of this Agreement, the Investors (or their Designated Affiliates (as
defined below)) agree to purchase from the Company, and the Company agrees to issue and sell to the Investors (or their Designated Affiliates), the Sale Securities at a price per 

  
 2 

 
ADS (or if the Sale Securities are in the form of Shares, at a price per Share that is equivalent thereto) equal to the initial public offering price per ADS (before underwriting discounts and
expenses) in the IPO (the “IPO Price”). As used herein, “Sale Securities” shall mean a number of ADSs or Shares (as determined at the discretion of the Investors (or their Designated Affiliate) by notice to the
Company at least four (4) Business Days prior to Closing) equal to USD 67.5 million divided by the IPO Price, rounded up the nearest whole ADS or Share, as the case may be; and “Purchase Price” shall mean the number of
Sale Securities multiplied by the IPO Price. No later than two (2) Business Days prior to the Closing, the Investors shall deliver to the Company an updated Schedule B, setting forth the number of Shares to be purchased by each Investor
(or its Designated Affiliate) and the corresponding portion of the Purchase Price to be paid by each such Investor (or its Designated Affiliate) in accordance with the terms of this Agreement. 

 

	2.2	 Subject to the terms and conditions of this Agreement, the closing of the purchase and sale of the Sale
Securities (the “Closing”) shall take place remotely via the exchange of documents and signatures concurrently with, or as soon as practicable following, the closing of the IPO after the satisfaction or waiver of each of the
conditions set forth in clause 6 (other than those conditions that by their nature are to be satisfied at Closing, but subject to the fulfilment or waiver of those conditions). The date on which the Closing actually occurs in accordance with the
preceding sentence is referred to in this Agreement as the “Closing Date”. At the Closing, each Investor shall make payment of the Purchase Price to be paid by it as specified in Schedule B by wire transfer in immediately
available funds to the account specified by the Company to Investors at least forty-eight hours in advance against delivery to such Investor of the Sale Securities. 

 

	3	 Company Representations and Warranties 

The Company hereby represents and warrants towards the Investors that at the date hereof and as of the Closing Date: 

 

	3.1	 the Company is a public company limited by shares duly incorporated and validly existing under the laws of the
Republic of Cyprus and has full power and authority to own its assets and to carry on business as it is now being conducted. The Company is duly qualified to transact business as a foreign corporation in each jurisdiction in which it conducts its
business, except where failure to be so qualified could not reasonably be expected to result, either individually or in the aggregate, in a material adverse effect on the Company’s financial condition, business or operations;

  

	3.2	 the Company has full power and authority to enter into this Agreement and to perform all of the obligations
expressed to be assumed by it hereunder; 

  

	3.3	 the statements in clause (B) of the Preamble in relation to the Company are complete and correct as of the
date of this Agreement; 

  

	3.4	 this Agreement when executed by the Parties constitutes valid and binding obligations of the Company,
enforceable in accordance with its terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other laws of general application affecting enforcement of creditors’ rights generally; 

 

	3.5	 the Sale Securities being purchased by Investor hereunder, when issued, sold and delivered in accordance with
the terms of this Agreement for the consideration expressed herein, will be duly and validly issued, fully paid and non-assessable and will be free of restrictions on transfer other than (a) restrictions
on transfer under applicable United States federal and state securities laws and (b) restrictions on transfer under the lock-up agreement entered into by the Investor for the benefit of the underwriters
in the IPO; 

  
 3 

	3.6	 the execution and delivery by the Company of this Agreement and the performance by the Company of all the
obligations expressed to be assumed by it hereunder have been duly authorised by all necessary actions of the Company and (a) do not violate any provision of any law, decree, rule or regulation or of any order, judgment, injunction,
determination or award of any court or any judicial, administrative or governmental authority or organisation having applicability to the Company; (b) do not violate any provision of the Articles of Association of the Company; and (c) do
not violate any provision of any mortgage, deed, agreement or other instrument to which the Company is a party or which is binding upon it or its assets nor will result in the creation or imposition of any security interest on any of its assets
pursuant to the provisions of any such mortgage, deed, agreement or other instrument; 

  

	3.7	 the Company has not incurred, and will not incur, directly or indirectly, as a result of any action taken by
the Company, any liability for brokerage or finders’ fees or agents’ commissions or any similar charges in connection with the sale of the Sale Securities contemplated by this Agreement; 

 

	3.8	 no directed selling efforts (as defined in Rule 902 of Regulation S under the Securities Act) have been made by
any of the Company, any of its affiliates or any person acting on its or their behalf with respect to any Sale Securities that are not registered under the Securities Act; and none of such persons has taken any actions that would result in the sale
of the Sale Securities to Investor under this Agreement requiring registration under the Securities Act or applicable state securities laws; and the Company is a “foreign issuer” (as defined in Regulation S); and 

 

	3.9	 assuming the accuracy of the representations, warranties and covenants of Investor set forth in clause 4 of
this Agreement, no registration under the Securities Act is required for the offer and sale of the Sale Securities by the Company to Investor under this Agreement. 

 

	4	 Investor Representations and Warranties 

Each Investor hereby represents and warrants towards the Company, on behalf of itself and its Designated Affiliate, that at the date hereof and
as of the Closing Date (for purposes of the representations and warranties contained in this Section 4, the term “Investor” shall include such Investor’s Designated Affiliate to the extent such Designated Affiliate purchases Sale
Securities pursuant to the terms of this Agreement): 
  

	4.1	 The Investor is a company duly incorporated and validly existing under the laws of the jurisdiction of its
formation and has full power and authority to own its assets and to carry on business as it is now being conducted; 

  

	4.2	 The Investor has full power and authority to enter into this Agreement and to transfer the full amount of the
Purchase Price to be paid by such Investor as specified in Schedule B to the Company, and to perform all of the obligations expressed to be assumed by it hereunder; 

 

	4.3	 this Agreement constitutes the legal, valid and binding obligations of the Investor, enforceable against the
Investor in accordance with its terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other laws of general application affecting enforcement of creditors’ rights generally; 

  
 4 

	4.4	 the execution and delivery by Investor of this Agreement, the payment of the Purchase Price to the Company and
the performance by the Investor of all the obligations expressed to be assumed by it hereunder have been duly authorised by all necessary actions of the Investor and (a) do not and will not violate any provision of any law, decree, rule or
regulation or of any order, judgment, injunction, determination or award of any court or any judicial, administrative or governmental authority or organisation having applicability to Investor; (b) do not and will not violate any provision of
its articles of association or equivalent organisational document; and (c) do not and will not violate any provision of any mortgage, deed, agreement or other instrument to which Investor is a party or which is binding upon it or its assets;

  

	4.5	 the Sale Securities to be received by the Investor will be acquired for investment for the Investor’s own
account, not as a nominee or agent, and not with a view to the distribution of any part thereof, and Investor has no present intention of selling, granting any participation in, or otherwise distributing the same, except as permitted by applicable
United States federal or state securities laws; 

  

	4.6	 The Investor has received all the information it considers necessary or appropriate for deciding whether to
purchase the Sale Securities. Investor has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of the Sale Securities and the business, properties, prospects and financial
condition of the Company; 

  

	4.7	 The Investor is able to fend for itself, can bear the economic risk of its investment, and has such knowledge
and experience in financial or business matters that it is capable evaluating the merits and risks of the investment in the Sale Securities; 

  

	4.8	 The Investor was not identified or contacted through the marketing of the IPO. The Investor did not contact the
Company as a result of any general solicitation or directed selling efforts. The purchase of the Sale Securities by the Investor was not solicited by or through anyone other than the Company; 

 

	4.9	 The Investor has been advised and acknowledges that in issuing Sale Securities to the Investor pursuant hereto,
the Company is relying upon the exemption from registration provided by Regulation S. The Investor is acquiring the Sale Securities in an offshore transaction exempt from the registration requirements of the Securities Act as provided by Regulation
S; 

  

	4.10	 The Investor has not engaged any brokers, finders or agents, and neither the Company nor the Investor has, nor
will, incur, directly or indirectly, as a result of any action taken by the Investor, any liability for brokerage or finders’ fees or agents’ commissions or any similar charges in connection with this Agreement; 

 

	4.11	 The Investor understands that the Sale Securities may be characterised as “restricted securities”
under the federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations such securities may be resold without registration under the
Securities Act, only in certain limited circumstances. The Investor is familiar with Rule 144 promulgated under the Securities Act, as presently in effect, and understands the resale limitations imposed thereby and by the Securities Act; and

  
 5 

	4.12	 The Investor acknowledges and agrees that the Sale Securities have not been and will not be registered under
the Securities Act, or with any securities regulatory authority in any state or other jurisdiction of the United States, and may not be offered or sold to any U.S. person or within the United States except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the Securities Act and of the securities laws of any state or other jurisdiction of the United States. 

 

	5	 Disclosures 

  

	5.1	 Prior to publication of any disclosure about the Investors, the Agreement and any other disclosure of the
Investors in the Registration Statement in any form, any free writing prospectus related to the Registration Statement, any final prospectus, any supplement or amendment to the prospectus and any other marketing material prepared in connection with
the IPO, the Company shall provide such disclosure to the Investors for its approval, which shall not be unreasonably withheld or delayed. 

  

	6	 Conditions to Investors‘ Obligations 

 

	6.1	 The obligations of the Company and the Investors (and their Designated Affiliates) under clause 2.1 of this
Agreement are subject to the satisfaction (or written waiver) prior to or at the Closing of each of the following conditions: 

  

	 	6.1.1	 concurrently with the purchase of the Sale Securities by the Investors hereunder, the closing of the purchase
of the Firm Shares (as defined in the underwriting agreement for the IPO) pursuant to the Registration Statement and such underwriting agreement shall have occurred; and 

 

	 	6.1.2	 no governmental authority of competent jurisdiction shall have enacted, issued, promulgated, enforced or
entered any decision, injunction, decree, ruling, law or order permanently enjoining or otherwise prohibiting or making illegal the consummation of the transactions contemplated at the Closing. 

 

	6.2	 The obligations of the Investors and their Designated Affiliates under clause 2.1 of this Agreement are subject
to the satisfaction (or written waiver) prior to or at the Closing of each of the following conditions: 

  

	 	6.2.1	 the representations and warranties of the Company contained in this Agreement shall be true and correct in all
respects as of the date of this Agreement and as of the Closing Date as though made on such date (except to the extent such representations and warranties speak as of an earlier date in which case as of such earlier date), except in all cases where
the failure of such representations and warranties to be so true and correct has not and would not reasonably be expected to impair in any material respect the consummation of the Company’s obligations hereunder; and 

 

	 	6.2.2	 each of the covenants and agreements of the Company to be performed on or prior to the Closing shall have been
duly performed in all material respects. 

  

	6.3	 The obligations of the Company under clause 2.1 of this Agreement are subject to the satisfaction (or written
waiver) prior to or at the Closing of each of the following conditions: 

  
 6 

	 	6.3.1	 the representations and warranties of the Investors contained in this Agreement shall be true and correct in
all respects as of the date of this Agreement and as of the Closing Date as though made on such date (except to the extent such representations and warranties speak as of an earlier date in which case as of such earlier date), except in all cases
where the failure of such representations and warranties to be so true and correct has not and would not reasonably be expected to impair in any material respect the consummation of the Investors‘ obligations hereunder; and

  

	 	6.3.2	 each of the covenants and agreements of the Investors to be performed on or prior to the Closing shall have
been duly performed in all material respects. 

  

	7	 Notices 

  

	7.1	 Any notice, demand, request, consent, approval, declaration, delivery or other communication hereunder to be
made to any Party pursuant to the provisions of this Agreement shall be sufficiently given or made if in writing and either delivered in person, by telecopy, by express courier service, by registered mail, return receipt requested, postage prepaid,
or by email (which email shall satisfy any writing requirement hereunder), addressed to the address listed for a Party in Schedule A or to such other address as may be substituted by notice given as herein provided. 

 

	7.2	 The giving of any notice required hereunder may be waived in writing by the Party entitled to receive such
notice. 

  

	7.3	 Any notice sent in accordance with the provisions of clause 7.1 above shall be deemed to have been duly given
or served on: 

  

	 	7.3.1	 the date on which personally delivered, emailed or telecopied, unless delivered, emailed or telecopied on a day
which is not a Business Day (as defined in clause 7.5) or after normal business hours of the recipient, in which case delivery shall be deemed to have been given the next Business Day; or 

 

	 	7.3.2	 the date on which delivered by an express courier service or registered mail. 

 

	7.4	 All notices and any other documents communicated in accordance with this Agreement shall be in the English
language. 

  

	7.5	 “Business Day” means any day except a Saturday, Sunday or other day on which commercial banks
in Moscow, Russia, London, England or the Republic of Cyprus are required, authorized or permitted by law to stay closed. 

  

	8	 Benefit of Agreement and Assignment 

 

	8.1	 The terms of this Agreement shall bind and enure for the benefit of the Company and the Investors and their
respective successors and permitted assigns. 

  

	8.2	 Any single rights and/or single obligations defined under this Agreement or this Agreement as a whole cannot be
transferred or assigned in whole or in part without the prior written consent of the other Parties, provided that until the date that is two Business Days prior to the Closing, any Investor may assign, in its sole discretion, any or all of its
rights and interests under this Agreement to such Investor’s designated affiliated entities identified in writing to the Company (each a “Designated Affiliate”). 

  
 7 

	9	 Miscellaneous 

 

	9.1	 This Agreement shall automatically terminate upon the earliest to occur, if any, of: (a) either the
Company, on the one hand, or the underwriters for the IPO, on the other hand, advising the other in writing, prior to the execution of the underwriting agreement for the IPO, that they have determined not to proceed with the IPO,
(b) termination of such underwriting agreement (other than the provisions thereof which survive termination) prior to the sale of any of the ADSs to the underwriters in the IPO, (c) the Registration Statement is withdrawn, (d) the
written consent of each of the Company and the Investors or (e) February 28, 2021, in the event that such Underwriting Agreement has not been executed by such date; provided, that the Company may, in its sole discretion, by written notice
to the Investors prior to February 28, 2021, extend such date for a period of up to three additional months. 

  

	9.2	 No failure to exercise and no delay in exercising by any Party of any right, power or privilege hereunder shall
operate as a waiver thereof nor shall any single or partial exercise of any such right, power or privilege preclude any other or further exercise thereof or the exercise of any other power or right. The rights and remedies herein provided are
cumulative and not exclusive of any rights or remedies provided by law. 

  

	9.3	 No variation hereof shall be considered valid and as constituting part of this Agreement unless such variation
shall have been made in writing and signed by the Parties hereto. The expression “variation” shall include any variation, supplement, deletion or replacement however effected. 

 

	9.4	 If at any time any of the provisions hereof is or becomes illegal, invalid or unenforceable in any respect, but
would be legal, valid or enforceable if part of the wording were deleted or revised, then that provision shall apply with such modification as may be necessary to make it enforceable. 

 

	9.5	 A person who is not a party to this Agreement has no right under the Contracts (Rights of Third Parties) Act
1999 to enforce any term of this Agreement. 

  

	10	 Counterparts 

This Agreement may be executed in counterparts, each of which shall be an original, and all of such counterparts taken together shall be deemed
to constitute one and the same instrument. 
  

	11	 Governing Law  

This Agreement and all non-contractual obligations arising out of or in connection with it are governed
by, and shall be construed in accordance with, English law. 
  

	12	 Dispute Resolution 

 

	12.1	 The Parties agree to negotiate in good faith to resolve any dispute between them regarding this Agreement.

  

	12.2	 Subject to clause 12.1, any dispute, claim or controversy arising out of or relating to this Agreement shall be
finally determined by arbitration in accordance with the arbitration rules (the “Rules”) of the London Court of International Arbitration (“LCIA”). The arbitration proceeding shall be conducted in the English
language and shall take place in London, England. The arbitral tribunal shall be composed of three (3) arbitrators appointed in accordance with the Rules. 

  
 8 

	12.3	 In the event of any conflict between the Rules and the provisions of this Agreement, the provisions of this
Agreement shall prevail. 

  

	12.4	 The award of the arbitrators shall be final and binding on the Parties. 

 

	12.5	 The award of the arbitrators may be enforced by any court of competent jurisdiction and may be executed against
the Person and assets of the losing Party in any competent jurisdiction. 

  

	12.6	 The arbitrators shall award to the prevailing party, if any, as determined by the arbitrators, all of its costs
and fees; provided that the arbitrators shall be entitled to make partial awards. “Costs and fees” mean all reasonable pre-award expenses of the arbitration, including the arbitrators’ fees,
administrative fees, travel expenses, out-of-pocket expenses (such as copying and telephone), court costs, witness fees, and reasonable, documented attorneys’ fees
(other than on a contingent fee basis). 

  

	12.7	 Subject to clause 12.1, except for arbitration proceedings pursuant to this clause 12, no action, lawsuit or
other proceeding (other than the enforcement of an arbitration decision, an action to compel arbitration or an application for interim, provisional or conservatory measures in connection with the arbitration) shall be brought by the Parties in
connection with any matter arising out of or in connection with this Agreement. 

  

	12.8	 The language to be used in the arbitral proceedings shall be English. 

 

	12.9	 The governing law of any arbitration under this clause 12 shall be the substantive law of England and Wales.

  

	12.10	 Each Party irrevocably waives any appeal rights it may have in respect of any arbitral award made under the
Rules in accordance with this clause 12 and agrees to accept such an arbitral award of the LCIA as final and binding on all Parties concerned. 

  

	12.11	 The arbitral tribunal shall use as guidance, but not as strict rules of procedure, the IBA Rules on the Taking
of Evidence in International Commercial Arbitration. 

  
 9 

 SCHEDULE A 

Contact details of the Parties 
  

			
	Party	  	Contact details
		
	Company	  	 Ozon Holdings Plc
  

2-4 Arch. Makarios III, 9th Floor Capital Center, 1065 Nicosia, Cyprus

 
 Attention:
  

With a copy to:

		
	Investors	  	 Baring Vostok Fund V Nominees Limited
  

1 Royal Plaza, Royal Avenue, St. Peter Port, Guernsey GY1 2HL Attention:
  

	  	 BV Special Investments Limited
  

1st and 2nd Floors, Elizabeth House, Les Ruettes Brayes, St Peter Port, Guernsey, GY1 1EW, Channel Islands

 
 Attention:

  
 10 

 SCHEDULE B 
  

					
	Name of Investor	 	Number of Sale Securities Purchased	 	Purchase Price Paid by Investor

  
 11 

 IN WITNESS WHEREOF, the parties have executed or caused this Agreement to be executed as of the date first
written above. 
  

			
	OZON HOLDINGS PLC
		
	By:	 	 /s/

		 	Name: Belova Nadezda
		 	Title: Director
	
	BV SPECIAL INVESTMENTS LIMITED
		
	By:	 	 /s/

		 	Name: Julian Timms
		 	Title: Director
	
	BARING VOSTOK FUND V NOMINEES LIMITED
		
	By:	 	 /s/

		 	Name: Julian Timms
		 	Title: Director

  
 12

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00317-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00317-of-00352.parquet"}]]