GNG Central

completed

The proposed investment will support the expansion of Galnaftogaz (“GNG” or “the Company”) - an independent distributor of petroleum products in Ukraine. GNG has financing requirements of $210 million over the next two years (“the Project”) for the following activities: - $150 million for expansion of its gas station network. GNG plans build/reconstruct around 75 high-volume gas filling stations and finance the associated working capital. The stations will be built according to the highest EHS standards and will have energy efficiency elements. $15 million of the investment will be used to purchase energy efficient heating systems, insulation, lighting and electric controls, pumps and more fuel efficient tanker trucks. Most of the planned stations will be in central and eastern Ukraine because GNG would like to increase its presence outside of its home region (western Ukraine). The Project is expected to create at least 480-500 new jobs (newly created stations) and preserve another 380-400 jobs (purchased/reconstructed stations), for a total of at least 860 jobs. - $60 million to refinance mezzanine debt at GNG’s holding level.