Press Release

NCSP and VTB have closed the deal on the sale of Novorossiysk Grain Terminal

April 25, 2019

PJSC NCSP (LSE: NCSP, MOEX: NCSP) and VTB Bank have announced the closure of the deal on the sale of all PJSC NCSP's shares in Novorossiysk Grain Terminal LLC.

The deal was made on the 23rd of April 2019 as part of the creation of a unified grain export operator in Russia.

VTB Group believes that grain export development in Russia has a great potential, especially it appreciates the opportunities for further growth in grain transshipment capacities through deep sea terminals. The purchase of NGT LLC is an integral part of VTB Group's strategy on infrastructure investments, which include various large transport and logistics infrastructure facilities.

NGT LLC operates grain and oil seeds cargo, as well as provides services for unloading of grain crops from railway cars and vehicles, storage and preparation of ship batches. Cargo turnover of NGT LLC totaled 6.33 million tons in 2018.

Transaction size in money terms is 35,500,000,000 (thirty-five billion five hundred million) rubles, that is 28.9% of value of PJSC NCSP's assets. The deal was approved by Board of Directors at the 18th of April 2019.

The results of the deal on the sale of NGT LLC have been taken into account in the NCSP Group Development Strategy for 2024, the development of which currently comes to an end.

NCSP Group is the largest port operator in Russia by cargo turnover. PJSC Transneft is the controlling shareholder (62%) of PJSC NSCP.

NCSP Group is traded on Moscow Exchange (NMTP) and London Stock Exchange as GDRs (NCSP). NCSP Group volumes in 2018 totaled 140.2 million tons. NCSP Group consists of: PJSC NSCP, LLC Primorsk Trade Port, JSC Novorossiysk Ship Repair Yard, JSC NCSP Fleet, JSC NLE, LLC IPP, Baltic Stevedore Company LLC and LLC SFP.