TASHKENT-2017

1. National Holding Company TASHKENT-2017 JSC“TASHNEFTEGASSTROY” ENTERPRISE PASSPORT

2. HISTORY OF THE ENTERPRISE Joint stock company “Tashneftegasstroy” is the structural subdivision of the Stock Company “Uzneftegasstroyinvest» of the National Holding company “Uzbekneftegas” Joint stock company“Tashneftegasstroy” implements activity on the base of the charter of the society and in accordance with the laws of the Republic of Uzbekistan. Joint stock company“Tashneftegasstroy”created by the decree of State joint stock Association "Uzneftegazstroy“ No196, on the 28th of December 1998, for pursuant to the Decree of the President of the Republic of Uzbekistan” On the transformation of National Corporation “Uzbekneftegas”No PD-2154 from11th of December, 1998 on the base of construction subdivisions, taking experiences the past 35-40 years and power for the construction of compressor stations and “Bukhara – Ural”, “Bukhara-Tashkent-Almata” and “Gazli-Chimkent” main pipelines.Total length of these gas pipelines, giving Uzbek fuel to the countries of Central Asia and Russian Federation, consists of more than 12000 kilometers. Since establishment of SC “Tashneftegasstroy”. Its divisions took part for the construction of “Gasli-Khungan”, Shurtan-Sherabad” gas pipelines, reconstruction of “Middlle Asia center” gas pipelines, as well as other important objects.. JSC “Tashneftegasstroy”implements for complex development of the oil and gas fields, beautification worked oil mine objects, constructions of the gas processing complexes, strip for main pipeline systems on transportation of the oil products, gas and water. Building complex of the oil and gas field has distinctive peculiarities, linked with work specification to the oil and gas objects, high security of the work, technological processes knowledge, automation of welding production, metallurgy and etc. The company has vast experience in execution of works in remote, desert and arid conditions of Central Asia, which gives it a great advantage over other construction companies of the republic in the sphere of objects construction for the oil and gas complex, construction of water mains, community facilities, and creation of their infrastructure. JSC “Tashneftegasstroy” has high professional level of workers and specialists, existence of specialized technics, machines, mechanisms. Structural composition of the society allows to execute all complex works, from zero to full completion, as by construction of main gas pipelines, so in industrial-civil construction. Lately, with the appearance on the market of foreign customers and, accordingly – requirements growth to the level of the technical re-equipment and modernization of the construction organizations, their financial opportunities, the main is to the system of projects run in the construction enterprises, JSC “Tashneftegasstroy” strives to support its production potential in a high level.

3. ACTIVITY OF THE COMPANY • The society offers the following main services and works for the customers (clients): • Commissioning of production capacities of the oil and energy complex (main gas pipelines, compressor stations, water mains and etc.), objects of civil production construction and social spheres of the state order. • Formation of construction works market, such as beyond the Republic of Uzbekistan, including state order and ensure their implementation in accordance with signed agreements and contracts, increasing the work quality, production base development, introduction to the construction of the scientific-technical progress and advanced experience achievements. • - Civil works; • - the construction, operation and repair of main gas pipelines, oil pipelines and oil-products pipelines; • - the construction, operation and repair of bridges and tunnels; • - the construction, operation and repair ofdefense objects; • - the construction, operation of high risky and potentially dangerous production objects; • - the production of repair, construction and installation works at heights methods of industrial mountaineering; • - production, billet and realization of construction materials, raw materials, machinery and equipment; • - conducting the construction and assembling, launching and adjustment works, supervision and service maintenance to the rebuilt, expandable and reconstructing enterprises, including the complex works under the key; • - conducting of repair-construction, construction, plumbing and emergency repairs, buildings and premises design, major repairs of the production, trade premises, buildings and houses; • - production of construction metal structures and products; • production of structures and products from cement and assembled concrete; • - the organization of wiring, installation and commissioning works, maintenance of the production lines and equipment; • - finishing, assembling and roofing works; • - wholesale.

4. STRUCTURE OF THE ENTERPRISE UE“NEFTEGASMAKHSUSQURILISH” UE“PAYVANDLASHQURILISHMONTAJ” UE“GASCHITRANS” UE“QURILISH IZOLYASIYASI” UE“MONTAJCHI” UE“TIBBIY SANITARIYA”

5. Enterprise staff distribution

6. TECHNICAL EQUIPMENT BULLDOZERS - 14PCS. TRUCKS - 25PCS. EXCAVATORS - 13PCS PIPELAYERS18PCS WELDING AGGREGATES - 18PCS CRANES - 9PCS OTHER MACHINERY AND EQUIPMENT -168 PCS

7. APPROVAL DOCUMENTS OF THE ENTERPRISE

8. CERTIFICATES

9. FINANCIAL INDICATORS

10. PRODUCTION

11. REALIZATION OF THE ADDITIONAL SHARE ISSUE TO THE FOREIGN INVESTOR Аuthorized capital of the society composes 652 715 100 soums (equivalents 201,9 thousand dollars of USA). The authorized capital of the society divided to 725 239 pieces of stocks, with nominal value 900 soums (equivalents 0,27 dollars). According to the resolution of the President Republic of Uzbekistan on date 23 January 2017, No PR-2737 “On introduction of changes and additions to the some resolutions of the President of the Republic of Uzbekistan and the government of the Republic of Uzbekistan (the resolution of the President of the Republic of Uzbekistan on the 21th of December 2015, No PR-2454 “On additional measures by attracting of the foreign investors to the stock companies” is provided for the realization of the shares of SC “Tashneftegasstroy” for the strategic foreign investors at the expense of increasing the statutory Fund of the company by the way of additional issue of shares in size – 11,08%)”. Distribution of the authorized capital of JSC “Tashneftegasstroy” after realization of the shareholdings, according to the resolution of the President of the Republic of Uzbekistan on the 23th of January, 2017, No PR-2737 will look in the following order- SK“Uzneftegasstroyinvest”- 47,37%, 386 383unit of shares. 347 744,7thousand soums (in equivalents 107,6thousand US dollars); - ShareholdersForeign investor – 3,92%, 31 936 unit of shares, 28 7 42,4 thousand soums (in equivalents8,8 thousand US dollars); - Free sale to investors – 11,08%, 90 400 unit of shares, 81 360,0 thousand soums(in equivalents 25,1thousand US dollars); - other shareholders (legal and economic entities) – 37,63%, 306 920 unit of shares, 276 228 thousand soums (in equivalents 85,4thousand US dollars );

12. ENTERPRISE DEVELOPMENT PLAN

13. ENTERPRISE DEVELOPMENT PLANNecessary volume of investments

14. ANALYSIS OF INVESTMENT ATTRACTIVENESS OF THE PROJECT Lately the policy, referred to the extension of the regional net, considers as a prior direction of the society activity. Since its creation, society actively takes part in formation of developed market services in the country and systematically extends the size of its activity. The achieved indicators ensures the financial stability and solvency of the society in a high level. As the last 5 years the indicator of solvency of the enterprise matches the norms determined by the state Inspection of the Republic of Uzbekistan and has the positive grow dynamics. This is the implementation guarantee by society accepted for itself liabilities in front of customers, partners and stockholders. As well as the guarantee of the implementation by the society the liabilities in front of partners services guaranteed reserves which forms by received profits. This estimation contributes for the extension of financial opportunities and the growth of trust to the society among the clients. In accordance with the planned business for 2016-2020, calculated indicators of the profitability of the authorized capital and profit for her share taking the account of attracted foreign capital compose the following dynamics of development: Примечание: Табличные данные и данные в диаграммах представлены согласно консолидированной финансовой отчётности, а также данные по персоналу с учетом структурных подразделений.

15. Main advantages and risks of the project • Taking into attention the positive perspectives of the society, the main advantages of for the strategic investors of the company are: • - existence the system of corporate governance, allowing to ensure the greatest transparency of the company activities and adequately assess risks; • - existence the substructures of the society, which are capable to carry out works all the regions of the Republic; • - historically made the strategic base of the society; • - the high liquidity of the stocks, creating an opportunity for the shareholders to freely dispose of them and leave the society at will; • - the deserved reputation and the formed image of the society among the clients and customers. • By this, main factors of the risks of the projects, on the opinions of the society leaders and representatives are the followings: • Corporate risks; • Risks linked with the changing size of the works volume and services value; • Risks caused by inflation; • Significant receivablescomplicates to mobilize the financial resources in a time; • Social risks; • Liquidity risks. • For minimizing and reducing the impacts of abovementioned risks of the society are elaborated the strategic and tactical decisions, excepting the occurrence of risk situations.

16. MARKETING STRATEGY AND SALES OF WORKS AND SERVICES • The main provision of distribution services and works traditionally is own advertizing review. In spite of the introduction of web-site in JSC “Tashneftegasstroy”, implementation the activities through new channels, the activity remains very insignificant.. • Implementation the main volumes of works and services are produced by legal entities. In conditions of reinforcing the competitiveness, supporting the strong positions of JSC “Tashneftegasstroy” in the market, as well as mastering the new segments requires conducting an active marketing development strategy. Marketing strategy of the society thought taking the account the expected changes in the market of services and orients to strength the position of the society in the market of services, to the growing of competitiveness on estimation and tariffs, improving the quality of rendering services, filling personals of the society with professional staff and with the young specialists.. • The main tasks of the marketing strategy of the society are directed to ensure the profitability of the construction works in permanently changeable conditions, in competitiveness of the society in the aim of observing the interests of the customers, supporting the social image, maximum satisfaction of inquires of the customers (clients) by the volume, structure and quality of the services, which creates the conditions for the stability of the business relations. • By this, the society has put the tasks before itself on increasing the competitiveness, which supposes reinforcement the advertisement of the activities, to the operative maintenance of customers, organizing the control efficiency systems, introduction the new technologies and information technologies. • Implementation the put tasks is appraised in a real, in a view the enough support by the founders and relatively high profitability of the society.

17. Contacts The Republic of Uzbekistan 100113, Tashkent city, Katartal str. , Home 2A. Telephone/fax (+99871) 150-16-17,150-16-22. E-mail: info@tngk.uz www.tngk.uz