The State Assets Management Agency of the republic of Uzbekistan

According to the relevant privatization programs, in accordance with the announcement of UzSAMA dated July 18 this year, the process of open sales of 100% state share in the authorized capital of “Avtoyna” LLC (hereinafter - the “Asset”) has started.

The company “Portfolio Investments” (hereinafter - the “Consultant”) was attracted as a privatization consultant to conduct the privatization process of this Asset based on international best practices.

According to the information provided earlier, the Consultant was scheduled to accept binding price offers from 4 applicants who passed to the stage of Binding Offers (BO) until October 17, 2024.

Taking into account that within the given deadline the Consultant accepted the Binding Offers (BO) from 2 applicants and these offers were lower than the indicative market value of the Asset, the sale process will continue from Expression of Interest stage.

In order to conduct the sale process in a competitive environment, UzSAMA announces the extension of the deadline for submission Expression of Interest applications for the purchase of the Asset until 23:59 (Tashkent time) on January 20, 2025.

All other items of the previously published announcement on the beginning of the Expression of Interest stage remain unchanged.

The UzSAMA will continue to inform the public about each stage of the privatization process.

DISCLAIMER

The State Assets Management Agency reserves the right to change the sequence of the privatization process or refuse to sell to any potential buyer(s) or negotiate with them at any time without explanation.

This announcement, or any part of its content, should not be taken as a form of obligation on the part of the State Assets Management Agency, "Portfolio Investments" in relation to the Asset sale, as one might assume in connection with the publication of this announcement. The State Assets Management Agency and "Portfolio Investments" reserves the right, in its sole discretion, at any time and in any respect, without assuming joint or individual responsibility:

(i) Change the deadline for submission of applications;

(ii) Follow different procedures with respect to different stakeholders and/or negotiate with one or more potential buyers within the schedule and procedure established jointly by the State Assets Management Agency and "Portfolio Investments", to the exclusion of any other potential buyer(s) without prior notice;

(iii) Stop the sale process for any reason;

(iv) Stop all discussions and negotiations with any potential buyer(s) in relation to the Transaction at any time and without explanation.