JKX Oil & Gas Group continues legal work for the damage caused by the aggressor country to JV PPC

JKX Oil & Gas Group continues its systematic legal work to compensate for the damage caused by the aggressor country to the Group's key business asset in Ukraine, JV Poltava Petroleum Company (PPC).

Thus, on December 19, 2024, the Commercial Court of Poltava Region will begin consideration of PPC's next claim against the Russian Federation for UAH 122 million in damages incurred as a result of shelling of the company's production facilities.

In November 2024, the company already received a positive court decision in a similar lawsuit against Russia in the amount of UAH 44 million.

JV PPC's production facilities suffered significant damage due to several targeted attacks by kamikaze drones. The company is repairing the damaged facilities on its own, without seeking government assistance. In addition, PPC continues to actively support the Ukrainian Defense Forces. Since the beginning of the full-scale invasion, one of PPC's shareholders, JKX Oil & Gas Group, has allocated more than UAH 210 million to support the Defense Forces.

Due to the Group's joining the international sanctions against Russia and financing of the Armed Forces of Ukraine, the courts of the aggressor country recognized JKX Oil & Gas Group as part of an extremist association that harms the national interests of Russia. The Group's property in Russia was confiscated.

The Group's main oil and gas production assets are concentrated in Ukraine and Hungary. As of December 2024, the British Crown, represented by the Government of the British Virgin Islands (BVI), is the largest shareholder of JKX Oil & Gas Group with a stake of over 36%.