02 - CEO MESSAGE

CEO Message

Uzbekistan's energy sector is entering a period of material transformation. The Republic holds substantial hydrocarbon reserves, an expanding downstream base, and a stated policy commitment to attract international capital into exploration, production, and refining infrastructure. UNG Overseas was established to translate that national ambition into executable, bankable transaction structures.

Our operating model is predicated on capital discipline. Every facility arranged, every commodity transaction executed, and every partnership structured must satisfy institutional-grade underwriting criteria. We do not pursue volume for its own sake. We pursue financings and trades that create durable value for our sole shareholder, for the Republic, and for our international counterparties.

The platform is designed to operate at the intersection of sovereign resource access and international capital markets infrastructure. We provide Uzbekneftegaz with a dedicated conduit for prepayment and pre-export facilities, syndicated lending, project finance, and capital markets issuance. Simultaneously, we offer international banks and commodity traders a transparent, well-governed counterparty domiciled in a recognised financial centre.

Governance is not an appendix to our operations - it is foundational. UNG Overseas maintains segregated decision-making authority, multi-tier investment approval processes, and compliance frameworks calibrated to ADGM regulatory expectations and international best practice. We operate under independent external audit and adhere to international financial reporting standards.

Our medium-term objective is to establish UNG Overseas as a reference-grade sovereign energy platform - one that international financiers, trading houses, and strategic investors regard as a credible, predictable, and well-structured counterparty. This requires sustained institutional discipline, consistent execution, and a commitment to transparency that is demonstrated, not declared.

Energy security and energy transition are not opposing mandates. Uzbekistan's transformation requires both: reliable hydrocarbon supply to sustain economic stability, and progressive capital allocation toward lower-carbon technologies and methane abatement. UNG Overseas is positioned to support both dimensions through disciplined capital deployment.

Name

Timur Khamraev

Position

Chief Executive Officer

Company

UNG Overseas

Strategic Focus

Institutional discipline, transparent governance, and balanced support for Uzbekistan's energy security and energy transition priorities.