Update on Mazars position in Russia

While actively supporting our Ukrainian staff in the war – ensuring full financial support and extending humanitarian aid, transport and accommodation – we have been conscious and willing to act responsibly towards our people and clients in Russia. Therefore, we decided in March:

i) to maintain our Russian team, for the time being, to help our international clients with operations in Russia navigate a difficult and fast-evolving regulatory environment;

ii) and to regularly reassess our position as the situation evolves.

Today, considering the current context and looking to the longer term, we decided to stop all Mazars activities in Russia. This decision will be implemented in the next few weeks, in compliance with applicable laws. We are exploring exit options which ensure, to the greatest possible extent, a seamless and quality transition for our clients, and a sustainable path for our Russian partners and staff.