Ukraine has Completed Distribution of the Mandatory Exchange Consideration for Sovereign and Ukravtodor Eurobonds following Exchange Offer and Consent Solicitation

Today the Ministry of Finance of Ukraine announced the completion of its distribution of the Mandatory Exchange Consideration in the form of New Securities to holders of sovereign Eurobonds and Sovereign-guaranteed Eurobonds of Ukravtodor that were outstanding before the exchange transaction, with the following International Securities Identification Numbers (ISINs) (together, the “Existing Eurobonds”):

U.S. Dollar Notes

• 7.75% Notes due 2024: XS1303921214, US903724AP76
• 7.75% Notes due 2025: XS1303921487, US903724AQ59
• 7.75% Notes due 2026 (2026A): XS1303925041, US903724AR33
• 8.994% Notes due 2026 (2026B): XS1902171591, US903724BW19
• 7.75% Notes due 2027: XS13039 (25470, US903724AS16
• 7.75% Notes due 2028: XS1303926528, US903724AT98
• 7.75% Notes due 2029: XS1303927179, US903724AU61
• 9.75% Notes due 2030: XS1902171757, US903724BV36
• 6.876% Notes due 2031: XS2010028699, US90372UAR59
• 7.375% Notes due 2034: XS1577952952, US903724BM37
• 7.253% Notes due 2035: XS2010030836, US903724BY74

Euro Notes

• 6.75% Notes due 2028: XS2015264778, XS2015265072
• 4.375% Notes due 2032: XS2010033343, XS2010033186

Ukravtodor Sovereign- Guaranteed Notes

• 6.25% Guaranteed Amortising Notes due 2030: XS2357277149, US857329AA47

Following the holding period termination deadline on October 30, 2024 (the “Holding Period Termination Deadline”), Holders that submitted Holding Period Exchange Instructions certifying their status as Eligible Holders by the Holding Period Termination Deadline received the Mandatory Exchange Consideration on November 7, 2024. Holders who did not submit Holding Period Exchange Instructions certifying their status as Eligible Holders or who are Ineligible Holders will now be subject to a "Cash Proceeds Arrangement," pursuant to which Ukraine will sell the equivalent Mandatory Exchange Consideration, with proceeds expected to be distributed within five business days after all sales are completed. Ineligible Holders of Existing Notes who delivered a valid Participation Instruction on or before the Early Consent Deadline will also receive the Consent Fee on the Cash Proceeds Distribution Date.

Such Sales will be for cash and on terms that Ukraine determines are commercially reasonable, including without limitation by instructing one or more brokers to undertake the sales on market standard terms and provided that if Ukraine is unable to find buyers for all relevant New Securities in the open market within six months of the Holding Period Termination Deadline, any remaining New Securities shall be cancelled (such cancellation to be effected by a reduction in the principal amount of each relevant Global Note) and neither Ukraine, nor the Custodian, nor any broker or agent instructed in respect of such Sales, shall have any obligations or liability whatsoever in respect of such New Securities to any person.

A separate notice will be issued to announce the Cash Proceeds Distribution Date.

Terms used and not defined in the announcement have the meaning given to them in the Exchange Offer and Consent Solicitation Memorandum dated 9 August 2024, as amended and restated on 12 August 2024 and as further amended on 23 August 2024.