Current report No. 22/2023 - Signing of the Letter of Intent regarding the indirect acquisition by RESBUD SE of a controlling stake in JSC Elektroqishloqqurilish based in Tashkent

Current report No. 22/2023 - Signing of the Letter of Intent regarding the indirect acquisition by RESBUD SE of a controlling stake in JSC Elektroqishloqqurilish based in Tashkent

Legal basis: art. 17 section 1 MAR – Confidential information

With reference to current reports No. 13/2022 of September 9, 2022 and No. 1/2023 of January 9, 2023, the Management Board of RESBUD SE ("Company", "Issuer") informs that on August 3, 2023 The company signed a letter of intent with URALSKA ENERGETYCZNO-BUDOWLANA SPÓŁKA AKCYJNA (UESK AO) based in Yekaterinburg (Russia) regarding the purchase of 100% of shares in GRID SOLUTIONS Sp. z o. o. based in Tashkent and UNITED GRID SOLUTIONS Sp. z o. o. based in Tashkent, directly holding 95 shares, representing 144% of the share capital of JSC ELEKTRQISHLOQQURILISH based in Tashkent, Uzbekistan, Tashkent, 58,41, ul. Buyuk Ipak Yuli 100187, entered into the Unified State Register of Business Entities under the number 274-000336 ("ELEKTRQISHLOQQURILISH").

As part of the settlement of the purchase price of the shares of ELEKTRQISHLOQQURILISH, RESBUD SE and Conpol sp. z o. o. as a subsidiary of the Issuer, they will transfer to URALSKA ENERGETYCZNO-BUDOWLANA SPÓŁKA AKCYJNA (UESK AO) 100% of the shares of the subsidiary ENERGOKOMPLEKT OOO based in Yekaterinburg, part of the RESBUD Group .

The conclusion of the transaction covered by the concluded letter of intent will result in the exclusion of the Russian company ENERGOKOMPLEKT OOO with its registered office in Yekaterinburg from the RESBUD Group, with the simultaneous acquisition by the Issuer of a majority stake in JSC ELEKTRQISHLOQQURILISH with its registered office in Tashkent. ELEKTRQISHLOQQURILISH operates in the power sector, engaged in the production, construction, installation and modernization of power lines (PTL) in the Republic of Uzbekistan. ELEKTRQISHLOQQURILISH is considered one of the leading contractors of power grid facilities in Central Asia.

The transaction is scheduled to close by the end of August 31, 2023, and the final parameters of the transaction will depend on the results of the current negotiations and the results of the work carried out by the auditors and advisors involved.