CJSC "NATFOOD" (the “Natfood”) and Black Sea Trade and Development Bank ("BSTDB"), an international financial institution, operating in 11 countries of the Black Sea Region, have long-term relationships. “BSTDB” is a shareholder of “Natfood” as well as had provided long-term senior secure debt.

Following the debt restructuring by “BSTDB” the loan was decreased to Euro 5 million and maturity was extended to 2034 (the “Restructuring”). As part of the Restructuring the new shareholder “Niva Invest” LLC (the “Niva Invest”) acquired 52% of shares in “Natfood”. Subsequently, new Shareholders Agreement was signed between “BSTDB” and “Niva Invest”.

The signing ceremony was attended by “BSTDB” Vice President Risk Dragos-Paul Ungureany.

The new Shareholders Agreement was signed by:

For “BSTDB” - Dragos-Paul Ungureanu, Vice President Risk;

For “Niva Invest” - Zhorzhik Muradyan, Director; and

For “Natfood” - Armen Petrosyan, Acting General Executive Director.

Dragos-Paul Ugureany mentioned that “BSTDB” provides “Natfood” with continuous support and expressed hope that the new shareholder will bring its know-how, experience, and market knowledge to boost Natfood’s performance.

Zhorzhik Muradyan on his part informed “BSTDB” that the new shareholder is already actively involved in the management of “Natfood” and has ambitious plans of improving its performance.

In its turn, Armen Petrosyan assured that “Natfood” is prepared to work hard to achieve goals set out by “BSTDB” and the new shareholder.