Announcement regarding the publishing of the Annual consolidated financial report

The management of Monbat AD hereby informs the Financial Supervision Commission, Bulgarian Stock Exchange AD and the investors of the company that on 29.07.2020, in relation to the performance of the independent financial audit of the annual consolidated financial statement of Monbat AD as of 31.12.2019, a letter has been received by the auditor Ernst & Young Audit OOD, selected by the General Meeting of the Shareholders of the Company. Ernst & Young Audit OOD have indicated that they will not be able to issue an audit report prior to July 31, 2020 and prior to finalizing all of their essential audit procedures, including review of a final report by a conducted independent audit by the international law firm Wolf Theiss on the matters related to the environmental aspects of the Company operations and the compliance of the Company operations with the applicable national and European regulations.

In relation to this, the management of Monbat AD is not able, within the legally stipulated deadlines, to submit to the Financial Supervision Commission, Bulgarian Stock Exchange AD and the investors, an audited annual consolidated financial statement as of 31.12.2019.

Immediately after the audit and the certification of the annual consolidated financial statement as of 31.12.2019, that annual consolidated financial statement shall be disclosed according to the rules and procedures stipulated by law.