REG - PJSC Tatneft - Tatneft Sells Tire Business

Tatneft' Imeni V.D. Shashina PAOAnnouncement

16/05/2022 09:00

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RNS Number : 5955L  PJSC Tatneft  16 May 2022

16 May 2022

Tatneft announces the sale of its tire business.

On 13 May 2022 announced that PJSC Tatneft signed an agreement to sell
the tire business of Tatneft Group to AO Tatneftekhiminvest-holding, which is
not a member of Tatneft Group.

The transaction framework covers, inter alia, Tatneft Group participation
in Management Company Tatneft-Neftekhim LLC,* in Nizhnekamsk All-Steel Tyre
Plant LLC and LLC TD KAMA, as well as the shares in PJSC
Nizhnekamskshina, JSC Nizhnekamsk Mechanical Plant and JSC
Yarpolimermash-Tatneft.*

Considering significant changes in the economic environment,
including those caused by geopolitical processes, the sale of the tire
business would allow Tatneft Group to focus on its key strategic projects.

The cooperation of Tatneft with the tire business companies in Russia,
including with respect to the supply of feedstock, will continue on a
commercial basis taking into consideration any commitments assumed by the
Company previously.

The transaction to sell the tire business does not lead to any changes in
personnel, decrease of social or any other obligations with respect to the
tire business' employees.

Upon signing of the agreement to sell the tire business, which is on 13
May 2022, the operational and management control over the companies covered by
the transaction is transferred to AO Tatneftekhiminvest-holding, and Tatneft
representatives holding positions in the management bodies of such companies
are stepping down immediately.

* shall be renamed following completion of the transaction

 

This press release contains inside information.

Forward-looking statements: This press-release contains certain statements
about future events and expectations that are forward-looking in nature. Any
statement in this press-release that is not a statement of historical fact is
a forward-looking statement that involves known and unknown risks,
uncertainties and other factors which may cause actual results, performance or
achievements expressed or implied by such forward-looking statements to
differ. PJSC Tatneft assumes no obligations to update the forward-looking
statements contained herein to reflect actual results, changes in assumptions
or changes in factors affecting these statements.

 

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