According to the announcement published by the State Assets Management Agency (hereinafter - UzSAMA) dated January 23, 2023, it was reported about the start of the next Non-Binding Offer (NBO) stage for the purchase of 100% state share (hereinafter - Transaction) in the authorized capital of "Qizilqum Fosforit Kompleksi" LLC (hereinafter - Company or Asset).

Orion Capital Advisory (hereinafter - Consultant) acts as a leading consultant of UzSAMA on this transaction.

The applicants at this stage were given access to a Virtual Data Room (VDR) which allowed them to review the Information Memorandum and have their Non-Binding Offers (NBO) submitted to the Consultant within the specified timeframe.

The proposals of the applicants have been screened by the Consultant for compliance with the requirements of this stage of the sales process, including their financial performance, solvency level, and based on the Consultant's recommendation, 2 applicants have been moved to the next stage of receipt of Binding Offers (BO).

During this stage, the Consultant will send a Process Letter to the applicants regarding the processes of this stage, as well as the possibility of access to analytical reports on financial, tax, legal and environmental research prepared by the Consultant, and the possibility of a direct visit to the Company and a meeting with the management body of the Company.

Binding Offers (BO) for the acquisition of the Asset will be accepted by the Consultant until 18:00 (Tashkent time) August 31, 2023.

UzSAMA and Orion Capital Advisory express their gratitude to all participants who have shown interest in the privatization process and submitted offers and also express confidence in further constructive cooperation with applicants who have successfully passed the Non-binding Offers stage.