Results of Cherkizovo Group PJSC Board of Directors Meeting

February 13, 2020

Moscow, Russia – February 13, 2020– Cherkizovo Group (MOEX: GCHE), the largest vertically integrated meat producer in Russia, today announces the results of its Board of Directors meeting held on February 12, 2020.

At the meeting, the Board of Directors:

 

- Reviewed the reports of the Chairmen of the Personnel & Remunerations Committee, Audit Committee, Investment and Strategic Planning Committee and Chairmen of all the Sub-Committees.

- Approved performance results (KPI achievement) of each of the Sub-Committees of the Board’s Investment & Strategic Planning Committee in 2019-2020 corporate year.

- Approved KPIs achievement of the CEO for 2019 and CEO KPIs for 2020.

- Approved the amendments to the Company’s 2020 Budget .

- Reviewed Development Strategy of the Company for 2020-2024.

- Elected Oleg Zakov, Armen Pogosyan and Olga Buryak to the Management Board, terminated the powers of Andrey Khizhnyak and Sergey Buylov as the member of the Management Board and approved the number of the Management Board members – 16 persons.

- Called annual general shareholders meeting on March 27, 2020 (AGM) and approved its agenda.

- Set March 4, 2020 as the record date to fix the list of persons entitled to take part in AGM.

- Approved the text and form of shareholder notification and list of materials to be provided to the shareholders.

- Preliminarily approved 2019 statutory annual report.

- Approved recommendations to AGM with respect to the Company’s net profit distribution upon 2019 results in the form of dividends in the amount of 60 rubles 92 kopecks per ordinary share. Recommended to set April 7, 2020 as the record date to fix the list of persons entitled to dividends payment.

- Reviewed the status-report on the Board of Directors` action items implementation.


Wording of the resolutions adopted on the agenda items and voting results will be disclosed in the form of a corporate action notice on resolutions adopted by the Board of Directors.