Official position of VS Energy group on the media publications

The shareholders and the management of  group find it important to make the following statement.

We have never supported the politics of the Russian Federation against Ukraine. We strongly condemn the Russian acts of aggression since 2014 and the unprovoked and unjustified war launched in 2022

Our official stance is expressed not only in words but is supported by the actions which we have not considered necessary to make public earlier. We have always defended the pro-Ukrainian position. Our support of the Ukrainian Armed Forces is estimated at dozens of millions of hryvnias. We are committed to continue supporting the citizens and military forces of Ukraine.

For more than 8 years the group has been owned by the same EU citizens holding and exercising all the legal and beneficiary rights. The present shareholding structure has been subject to scrutiny both in the EU, and in Ukraine. We are not aware of how a group of such scale may be owned and managed by nominees in the current world business environment. We pledge that there are no trust agreements or any secret arrangements which would enable any third parties, whether Russian or otherwise, to interfere with the shareholding of the group.

Contrary to what has been circulated in the media, none of the individuals indicated in the media as owners of the Group (Babakov, Giner, Voevodin) own the shares of any of the Group entities and are not among beneficial owners of the Group. Evgeny Giner ceased to be the shareholder of the group in 2014 both as a matter of law and fact. Since then, he has no connection with the group or its employees whatsoever. As to Alexander Babakov and Mikhail Voevodin, they have never held any shares in VS Energy group.

We emphasize that the Ukrainian executive authorities regularly checked the operations of VS Energy group throughout the past 8 years. We also fully understand that in the present unfortunate circumstances the law enforcement authorities are obliged to hold a detailed investigation into the activities and the shareholding structure of the group. With the war still pending it is in our interests that such investigation is full-fledged, impartial, and meticulous so that the authorities could reach a definitive conclusion regarding VS Energy group.

Hereby we declare full compliance, transparency and legitimacy of the Group business in Ukraine.

We hope that the conclusions of the Ukrainian law enforcement authorities will bring all the speculation in this respect to an end.