Cherkizovo Group Announces Share Buyback Offer

September 13, 2017

Moscow, Russia – 13 September – Cherkizovo Group (LSE: CHE; MOEX: GCHE), the largest vertically integrated meat and feed producer in Russia, today announces a share buyback offer.

Following the acquisition by the controlling shareholder of Cherkizovo Group, together with its affiliates, of 21.05% of the Group's ordinary shares and GDRs from the funds and portfolios under the management of Prosperity Capital Management, LLC APK "Mikhailovsky", affiliated with the controlling shareholder, submitted the mandatory tender offer to the Bank of Russia as prescribed by Russian law. As a result of its review, the Bank of Russia has clarified that there are no grounds for making a mandatory tender offer in this case.

Considering the interests of all shareholders of Cherkizovo Group, LLC APK "Mikhailovsky" is announcing today a buyback offer to all shareholders to purchase their ordinary shares and GDRs. The price per share has been set at RUB 1,300 per share, which corresponds to the price per share in the transaction with Prosperity Capital Management and which is equivalent to the price of RUB 866.66 per GDR as three GDRs equal two ordinary shares. The dollar price per GDR will be calculated using the RUB/USD exchange rate established by the Bank of Russia for the date of submission of the relevant application by the holders of GDRs. The Board of Directors of Cherkizovo Group has approved this buyback offer.

The buyback offer will expire on 29 September 2017 (inclusive).

The form of the application from the holders of securities of Cherkizovo Group and the list of required documentation, as well as the delivery instructions, are posted on Cherkizovo Group's website: http://cherkizovo.com/en/investors/offer.pdf.