Conclusion of contract on purchase of crude oil

December 29, 2021

Board of Directors of NIS j.s.c. Novi Sad, by decision No.85/OD-od/CLXXIV-1 dated 24 December 2021 approved the conclusion of the Contract for Export Blend crude oil of KBT quality with Petraco Oil Trading Company Ltd, Sliema, Malta in order to buy Kirkuk crude oil.

NIS j.s.c. Novi Sad concluded the contract on 27 December 2021, and the crude oil that is the subject of the contract will be delivered in the period January-December 2022, in accordance with all agreed contractual conditions.

The estimated value of deliveries under the above contract is about 1,018,616,000.00 EUR.