UzNIF - Full Exercise of Greenshoe Option

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National Investment Fund of the Republic of Uzbekistan JSC

Full Exercise of the Greenshoe Option

In connection with the initial public offering of National Investment Fund of the Republic of Uzbekistan JSC, Jefferies International Limited acting as Stabilisation Manager announces that it has fully exercised the Greenshoe Option for 3,515,608 GDRs of the Company granted by Ministry of Economy and Finance of the Republic of Uzbekistan. The purchase price of the option GDRs is U.S.$ 25.00 per GDR, equal to the offer price in the Offering, for an aggregate consideration of approximately U.S.$ 87.9 million. Settlement of the Greenshoe Option will take place on 22 May 2026.

Post-Stabilisation Period Announcement

Further to the pre-stabilisation period announcement dated 13 May 2026, Jefferies International Limited (contacts: Oliver Berwin; telephone: +44 20 7029 8964, Megan Gresham; telephone: +44 20 7548 4199) hereby gives notice that, during the period covered by this announcement, no stabilisation measures were carried out (within the meaning of Article 3.2.(d) of the Market Abuse Regulation (EU/596/2014), as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018) in relation to the offer of the following securities.

This announcement is for information only and does not constitute an offer or invitation to underwrite, subscribe for, sell or otherwise acquire or dispose of any securities or investment advice in any jurisdiction in which such an offer or solicitation is unlawful, including, without limitation, the United States, Australia, Canada, South Africa or Japan. Any failure to comply with these restrictions may constitute a violation of the securities laws of such jurisdictions.

This announcement is not an offer for sale of securities in the United States or to U.S. persons. Securities may not be offered or sold in the United States or to U.S. persons absent registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or an exemption from registration under the Securities Act. The Company has not registered and does not intend to register any part of the offering in the United States or to conduct a public offering of any securities in the United States. Any securities sold in the United States will be sold only to investors that are known or reasonably believed to be (i) qualified purchasers as defined in Section 2(a)(51) of the Investment Company Act and (ii) qualified institutional buyers pursuant to, and as defined in, Rule 144A under the Securities Act (or upon another exemption from the registration requirements of Section 5 under the Securities Act) and Section 3(c)(7) of the Investment Company Act, respectively. The Company has not been and will not be registered under the Investment Company Act and, as such, holders of the Company's securities will not be entitled to the benefits of the Investment Company Act. No offer, sale, resale, pledge, delivery, distribution or transfer of the Company's securities may be made except under circumstances that will not result in the Company being required to register as an investment company under the Investment Company Act. The Trustee neither has nor intends to register as an investment adviser under the U.S. Investment Advisers Act of 1940, as amended (the "Advisers Act") and, as such, it will not be subject to the obligations of the Advisers Act and the rules promulgated thereunder, including certain recordkeeping, disclosure and other fiduciary obligations, otherwise imposed on an SEC-registered investment adviser.

This announcement does not constitute an offer of securities to the public in any member state of the European Economic Area (the "EEA") (each a "Member State"). No prospectus has been or will be approved in any Member State in respect of the Securities. This announcement is only addressed to and is only directed at persons in Member States who are "qualified investors" ("Qualified Investors") within the meaning of Article 2(e) of Regulation (EU) 2017/1129 (such Regulation, together with any applicable implementing measures in the relevant home Member State under such Regulation, the "Prospectus Regulation"). This announcement and the information contained herein must not be acted on or relied upon in any Member State by persons who are not Qualified Investors. Any investment or investment activity to which this announcement relates is only available to, and any invitation, offer or agreement to purchase, subscribe or otherwise acquire the same will be engaged in only with, Qualified Investors. For the purpose of this paragraph, the expression "offer of securities to the public" means the communication in any form and by any means of sufficient information on the terms of the offer and the Securities to be offered so as to enable the investor to decide to purchase or subscribe for the Securities and the expression "Prospectus Regulation" means Regulation (EU) 2017/1129 and includes any amendments and relevant delegated regulations thereto.

For persons in the United Kingdom, this announcement is only addressed to, and directed at, persons who are "qualified investors" within the meaning of the Public Offers and Admissions to Trading Regulations 2024 (the "POATRs") who: (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"); (ii) fall within Article 49(2)(a) to (d) of the Order; or (iii) are otherwise persons to whom it may otherwise lawfully be communicated (all such persons being referred to as "Relevant Persons"). This announcement and the information contained herein must not be acted on or relied upon in the United Kingdom, by persons who are not Relevant Persons. Any investment or investment activity to which this announcement relates is available only to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire the same will be engaged in only with, Relevant Persons.