In accordance with the relevant privatisation programmes, the State Assets Management Agency (hereinafter - UzSAMA) announces the start of the sales process of 100% state share in InterHotel LLC (hereinafter - Asset/Hotel) through the privatisation method of public offer to negotiations.

Deloitte Company (hereinafter - Deloitte) has been engaged in this sales process as Privatisation Consultant.

Brief information about the Asset:

The total area of the Hotel is 3.0 hectares and the area of buildings and structures is 44,903 square metres. The Hotel has 232 rooms, 2 restaurants, 1 outdoor terrace, 7 conference halls, fitness club, swimming pool and bars.

The process of realisation of the Asset is based on the method of public invitation to negotiate, which is open to all interested parties (hereinafter - Participants).

Participants are invited to express their interest in the form of an Application (Express of Interest), including the following information:

1. Brief information about the Applicants (including TPIN, and type of activity).
2. Information about shareholders/participants owning more than 5% of the share in the authorized capital of the Participant (indicating the share of ownership), as well as ultimate beneficiaries.
3. Financial statements (preferably for the last 3 years).

Express of interest can be prepared in Uzbek, Russian or English (at the discretion of the Applicants), and must be sent to the following e-mail addresses: jmamadjanov@deloitte.uz

The deadline for submission of Express of interest is no later than June 15, 2023, 18:00 (Tashkent time).

The received applications will be selected in accordance with the following criterias:

• sufficient financial resources to acquire the Asset;
• absence of any judicial, administrative, arbitration, or other proceedings, the result of which may be a ban on participation in the privatization process;
• Compliance with Uzbekistan Law #660-II (as amended on January 15, 2019) "Countering the legalization of proceeds of crime, the financing of terrorism and the financing of the proliferation of weapons of mass destruction".
• Neither the Applicant nor any of the Consortium Members (in the case of the Consortium) must be on the public sanctions lists of the European Union and the United States or any of the major international development banks (World Bank, European Bank for Reconstruction and Development, Asian Development Bank), or on the date of the Application must be subject to any proceedings or investigation by the aforementioned sanctions authorities. Also, neither the Applicant (and, in the case of the Consortium, none of the Consortium Members) nor any of its/their affiliates is/are in any way involved in any activity (directly or through any subsidiary) contrary to the sanctions regime of the aforementioned institutions and states and, neither the Applicant (or in the case of the Consortium, any of the Consortium Members) nor any of its/their Related Parties have as principal financiers or lenders banks or financial institutions which are sub-sanctioned persons or persons controlled or owned by sub-sanctioned persons.

A Non-Disclosure Agreement (NDA) is signed with potential investors who will proceed to the next stage, followed by access to the Virtual Data Room (VDR), which will allow them to familiarise themselves with general information about the Asset's operations.

For more information, you can contact the above communication channel.

DISCLAIMER

UzSAMA reserves the right to change the sequence of the privatization process or refuse to sell to any potential buyer(s) or negotiate with them at any time without explanation.

This announcement, or any part of its content, should not be taken as a form of obligation on the part of UzSAMA, "Mosaic Financial" in relation to the Asset sale, as one might assume in connection with the publication of this announcement. UzSAMA and "Mosaic Financial" reserves the right, in its sole discretion, at any time and in any respect, without assuming joint or individual responsibility:

(i) Change the deadline for submission of applications;

(ii) Follow different procedures with respect to different stakeholders and/or negotiate with one or more potential buyers within the schedule and procedure established jointly by the State Assets Agency and "Mosaic Financial", to the exclusion of any other potential buyer(s) without prior notice;

(iii) Stop the sale process for any reason;

(iv) Stop all discussions and negotiations with any potential buyer(s) in relation to the Transaction at any time and without explanation.