JOINT STOCK COMPANY “UZBEK METALLURGICAL PLANT” ANNOUNCES THAT IT HAS UPGRADED ITS CDP (CARBON DISCLOSURE PROJECT) SCORE BY TWO STEPS, TO LEVEL “B”

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JOINT STOCK COMPANY “UZBEK METALLURGICAL PLANT” ANNOUNCES THAT IT HAS UPGRADED ITS CDP (CARBON DISCLOSURE PROJECT) SCORE BY TWO STEPS, TO LEVEL “B”

20.02.2025 21.02.2025 199

JOINT STOCK COMPANY “UZBEK METALLURGICAL PLANT” ANNOUNCES THAT IT HAS UPGRADED ITS CDP (CARBON DISCLOSURE PROJECT) SCORE BY TWO STEPS, TO LEVEL “B”

Joint Stock Company “Uzbek Metallurgical Plant” (RSE: UZMK) (Uzmetkombinat JSC, the “Company”), a leading producer of steel products in Uzbekistan, is pleased to announce that its CDP (Carbon Disclosure Project) score has been upgraded by two notches to “B”.

CDP is one of the most respected international providers of ESG ratings, annually assessing companies' disclosures on Climate Change, Water Security and Forests. More than 22,000 companies from around the world participated in CDP's 2024 assessment. Scores are given on a scale from “A” (best score) to “F” (lowest score).

Results of Uzmetkombinat JSC under CDP assessment in 2024

According to the results of climate change assessment conducted by CDP in 2024 (CDP Climate Change 2024), Uzmetkombinat JSC was assigned a score “B”, which indicates an improvement of two steps compared to the results of the previous year. The “B” score means that the Company is taking coordinated measures to manage climate change issues, and the level of development and results of Uzmetkombinat JSC in the field of climate change significantly exceed not only the average global level¹, but also the average industry level among metallurgical companies from around the world². In 2023, the “B” grade was the highest score in Central Asia among publicly available assessments.

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¹The average global CDP score in 2023 was “C”

²The average CDP score for the Metal Smelting, Refining & Forming sector in 2023 was “B-”

Among the individual categories, CDP gave Uzmetkombinat JSC the highest grades (at the “A” level) in the areas of corporate governance, dependencies, impacts, risks and opportunities process, emissions reduction initiatives and low carbon products, public policy engagement and industry collaboration, environmental policies, and so on. In addition, CDP assigned a very high grade (at the level of “A-”) to Uzmetkombinat JSC for its management of greenhouse gas emissions issues in the value chain (scope 3).

“We are very pleased to receive such international recognition from CDP for our successes in managing climate change issues. At Uzmetkombinat JSC, we are convinced that sustainable development is not just an obligation, but a real opportunity for the company's qualitative growth. Success of this kind inspires us to move forward and set new, higher standards of environmental responsibility for ourselves in the future, as well as for the steel industry and the Republic of Uzbekistan” - commented Tatyana Budey, Deputy Chairman of the Management Board and Chief Financial Officer of Uzmetkombinat JSC.

Assignment of such a high CDP score by the international authoritative organization can play an important role in increasing the investment attractiveness of Uzmetkombinat JSC, the Republic of Uzbekistan and the region in general.

Complex work on preparation of the Company for participation and support within the framework of CDP score increase was carried out with involvement of consulting company Finvizier Consultancies DMCC.

Reference:

CDP is an independent non-profit organization founded in 2000 in the United Kingdom. CDP manages a global system of information disclosure for investors, companies, cities, states and regions to manage their environmental impact. More than 22,000 companies from around the world, with a combined capitalization of about 67% of the total capitalization of companies listed on global stock exchanges, participated in CDP's 2024 assessment cycle. The CDP score is supported by more than 700 institutional investors with total assets under management of more than USD 142 trillion. Detailed information about CDP is available on the official website: https://www.cdp.net/

Uzmetkombinat JSC is the leader of ferrous metallurgy in Uzbekistan with a history dating back to 1944. The plant has an installed capacity of more than 1 million tons of rolled products per year, and is implementing a large-scale investment program to increase capacity to 2.5 million tons per year during 2021-2026. The enterprise employs more than 10 thousand people, and its products are sold in all regions of the country and exported to various countries of the world. More than 90% of the Plant's shares are owned by the state. A significant part of shares is traded on the RSE “Toshkent” - common and preferred shares of the Plant have the status of highly liquid.

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