Zangezur Copper Molybdenum Combine CJSC issued today a statement, presented below:

“Zangezur Copper Molybdenum Combine Closed Joint Stock Company (hereinafter referred to as the “Company”), established and existing under the laws of the Republic of Armenia, declares that the Russian company GeoProMining LLC has never been and is not currently a shareholder of the Company, nor does it have any stake in the Company’s ownership structure.

Neither the Company, its shareholders, nor its ultimate beneficial owners are included in any sanction lists issued by the relevant sanctions authorities, and no international sanctions are applicable to the Company.

The current information regarding the ultimate beneficial owners of the Company is published on the official website of the State Register of Legal Entities of the Ministry of Justice of the Republic of Armenia.

Zangezur Copper Molybdenum Combine CJSC remains steadfast in its commitment to transparent corporate governance, and periodic publication of ultimate beneficial owners’ declarations, according to Armenian legislation, underscores the Company’s continuous efforts to uphold the highest standards of business conduct.”