Gruppa Cherkizovo : LR5.3.1R(11) ANNOUNCEMENT PJSC Cherkizovo Group - intended cancelation of GDR listing

14 November 2017

PJSC Cherkizovo Group (LSE: CHE/MOEX: GCHE) (the 'Company') today announces its intention for global depositary receipts representing interests in the Company's ordinary shares (the 'GDRs') to be removed from the Official List of the United Kingdom Listing Authority ('UKLA') and for the trading of the GDRs on the Main Market of the London Stock Exchange to be cancelled.

Having considered the limited trading liquidity of its GDRs on the London Stock Exchange, and as part of the Company's new capital markets strategy, the Company has decided to consolidate the free-float and trading of its ordinary shares on the Moscow Exchange, as well as reduce the Company's administrative and reporting costs. In the context of its new capital markets strategy the Company is also evaluating a range of alternatives available to it, including a potential equity offering of ordinary shares on the Moscow Exchange.

In this regard the Company has today signed an amendment to the Deposit Agreement entered into with The Bank of New York Mellon (the 'Depositary') on 14 February 2011 (the 'Deposit Agreement'), removing an undertaking requiring the Company to maintain a listing of the GDRs on the London Stock Exchange. Pursuant to the terms of the Deposit Agreement, such amendment will become effective upon the expiry of three months from the date the Depositary has given notice thereof to the holders of the outstanding GDRs. Such notice to GDR holders has been given by the Depositary today and will expire on 15 February 2018.

The Company has also submitted an application to the UKLA today to (i) cancel the standard listing of its GDRs on the Official List of the UKLA and (ii) to the London Stock Exchange for trading in the Company's GDRs on the Main Market of the London Stock Exchange to be cancelled (together, the 'Cancellation').

The last day of trading in the GDRs on the London Stock Exchange is expected to be 14 February 2018.

The Cancellation is expected to take effect at or about 8:00 a.m. on 15 February 2018.

The Company's current intention is that the GDR programme will remain operative for a limited period following the Cancellation, with a view that it may be terminated thereafter. The Company will make further announcements in connection with the GDR programme in due course.

The existing listing of the Company's ordinary shares on the Moscow Exchange under the symbol 'GCHE' will continue.

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For more information please contact

Anatoliy Vereschagin

Managing Partner

Progress Communications Agency

+7 965 334 34 34

av@progresspr.ru