Result of Tender Offer

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA (THE "UNITED STATES")) OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

15 July 2025

On 7 July 2025, Joint-Stock Company "National Bank for Foreign Economic Activity of the Republic of Uzbekistan" (the "Offeror") launched an invitation to the holders of the outstanding U.S.$300,000,000 4.85 per cent. Notes due 2025 (ISIN: XS2242418957) (the "Notes") issued by the Offeror (the "Offer").

The Offer was made on the terms and subject to the conditions contained in the tender offer memorandum dated 7 July 2025 (the "Tender Offer Memorandum"). Capitalised terms used in this announcement but not otherwise defined have the meanings given to them in the Tender Offer Memorandum.

The Offer expired at 4.00 p.m. (London time) on 14 July 2025 (the "Expiration Deadline"). As at the Expiration Deadline, the Offeror has received valid tenders of U.S.$135,206,000 in principal amount of Notes for purchase pursuant to the Offer.

On 15 July 2025, the Offeror expects to complete the signing in respect of an issue of U.S.$300,000,000 7.20 per cent. Notes due 2030 and accordingly the New Financing Condition is expected to be satisfied prior to the Settlement Date of 17 July 2025.

Accordingly, the Offeror hereby announces that it will accept (subject to satisfaction (or waiver) of the New Financing Condition on or prior to the Settlement Date) all U.S.$135,206,000 in principal amount of Notes validly tendered for purchase pursuant to the Offer. The Offeror intends to cancel any Notes purchased pursuant to the Offer and the principal amount of the Notes that will remain outstanding following any such cancellation will be U.S.$127,712,000.

This announcement is made by Ilkhomjon Khakimov, Head of Dealing Division, Treasury Department, on behalf of Joint-Stock Company "National Bank for Foreign Economic Activity of the Republic of Uzbekistan" and constitutes a public disclosure of inside information under Regulation (EU) 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018.

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DISCLAIMER This announcement must be read in conjunction with the Tender Offer Memorandum. No offer or invitation to acquire or exchange any securities is being made pursuant to this announcement. The distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and/or the Tender Offer Memorandum comes are required by each of the Offeror, the Dealer Managers and the Tender Agent to inform themselves about and to observe any such restrictions.