April 10, 2019

Moscow, Russia - April 10, 2019 - Public Joint Stock Company "Cherkizovo Group" (the "Company", the "Group" or "Cherkizovo"), the largest vertically integrated meat producer in Russia, today announces its decision not to proceed with an offering of its ordinary shares listed on the Moscow Exchange due to current market conditions.

Sergei Mikhailov, CEO of Cherkizovo, commented:

"While feedback from investors and the market generally was supportive of Cherkizovo’s compelling story, the current capital markets environment does not appear to be conducive to realizing our objectives of creating a broad, liquid market for our shares at a valuation which we believe reflects the strength of our market leadership position, operating performance, dividend potential and the attractive potential we see in our business. We demonstrated our commitment to delivering value to our shareholders through sustained growth in earnings and our existing dividend policy. Cherkizovo continues to make excellent progress in implementing its strategy and we believe that our medium to long-term outlook is strong. We remain committed to continuing to deliver significant value to our shareholders and maintaining high standards of corporate governance and transparency. We appreciate the time investors have taken to evaluate our business and the interest shown to date."

About Cherkizovo Group

Cherkizovo is the largest diversified meat producer in Russia. The Group is a top-3 producer in each of the Russian poultry, pork and processed meat markets.

Cherkizovo encompasses seven chicken manufacturing complexes (as well as the Belaya Ptitsa production complex which we currently operate pursuant to a lease agreement), sixteen pork farms, five meat processing plants (and an additional meat processing plant operated by an equity associate Samson – Food Products) and two slaughter facilities, nine animal feed plants, twelve grain elevators, a land bank of 290,000 ha. and a full-cycle turkey production plant in Tambov, owned and operated as a joint venture with Grupo Fuertes, a leading Spanish agriculture and food company.

Due to its vertically-integrated structure, which includes grain growing and storage, feed production, livestock breeding, fattening and slaughtering, and meat processing, alongside a distribution network across Russia, the Group has delivered long-term sales growth and profitability. The Group’s consolidated revenue was RUB 102.6 billion in 2018. From 2016 to 2018, the Group demonstrated 11.6% revenue CAGR, while adj. EBITDA margin increased from 11.5% to 19.9%. Cherkizovo has made a series of value-accretive acquisitions in 2018 to expand its asset base and bolster production.

Cherkizovo shares are traded on the Moscow Exchange (MOEX).