On Approval of the Regulation on the Procedure for Implementing a Share Buyback Program and Conducting Stabilization

NATIONAL COMMISSION FOR SECURITIES AND STOCK MARKET DECISION Kyiv On Approval of the Regulation on the Procedure for Implementing a Share Buyback Program and Conducting Stabilization

In accordance with paragraph 1 of part one of Article 7, Articles 29, 30 of the Law of Ukraine "On State Regulation of Capital Markets and Organized Commodity Markets", Articles 154 and 155 of the Law of Ukraine "On Capital Markets and Organized Commodity Markets", and with the aim of adapting Ukraine's relevant legislation to the law of the European Union (EU acquis), improving the legal regulation of the activities of participants in capital markets and organized commodity markets, and combating abuses in capital markets,

The National Commission for Securities and Stock Market D E C I D E D:

1. Approve the Regulation on the Procedure for Implementing a Share Buyback Program and Conducting Stabilization, attached hereto.

2. Approve amendments to the Regulation on Disclosure of Information by Issuers of Securities, as well as Persons Providing Security for Such Securities, approved by the Decision of the National Commission for Securities and Stock Market dated June 06, 2023 No. 608, registered in the Ministry of Justice of Ukraine on August 02, 2023 under No. 1307/40363 (with amendments), attached hereto.

3. The Department of Methodology shall ensure the submission of this decision for state registration to the Ministry of Justice of Ukraine.

4. The Administration of Administrative Activities shall ensure the publication of this decision on the official website of the National Commission for Securities and Stock Market.

5. The Department of Legal Development shall, after state registration of the decision by the Ministry of Justice of Ukraine, ensure the publication of this decision on the official website of the National Commission for Securities and Stock Market.

6. This decision enters into force from the day following the day of its official publication, and comes into effect on January 01, 2027.

7. Control over the execution of this decision is entrusted to a member of the National Commission for Securities and Stock Market, Yu. Shapoval.

Chairman of the Commission Oleksiy SEMENYUK

Protocol of the Commission meeting of 29.07.2026 No. 34

APPROVED
Decision of the National Commission for Securities and Stock Market ___________ No._______________

Regulation on the Procedure for Implementing a Share Buyback Program and Conducting Stabilization

I. General Provisions

1. This Regulation establishes requirements for a share buyback program and the procedure for its implementation, the procedure for disclosure of information within the framework of a buyback program, as well as the procedure and conditions for conducting stabilization of equity and/or debt securities and instruments associated with such securities.

2. In this Regulation, terms and concepts are used in the following meanings:

1. open obligation – the obligation of an investment firm to purchase or obtain from the issuer equity and/or debt securities, which arises as a result of excess placement and/or realization of a stabilization option during the stabilization period;

2. delegated buyback program – a buyback program, the execution of which is entrusted to an investment firm acting on behalf of the issuer within the framework of the buyback program and independently and independently of it makes decisions regarding the terms and/or volumes of share purchases;

3. issuer of shares – a public joint-stock company or a private joint-stock company, the shares of which are admitted to trading on an organized market;

4. EDR – Unified State Register of Legal Entities, Individual Entrepreneurs and Public Formations;

5. Joint Stock Companies Act – Law of Ukraine "On Joint Stock Companies";

6. Capital Markets Act – Law of Ukraine "On Capital Markets and Organized Commodity Markets";

7. closed period – a period of 30 calendar days immediately preceding the date of disclosure of the annual or interim financial reporting of the issuer;

8. clear and unambiguous – a level of disclosure of information characterized by absolute unambiguity of content, which excludes the possibility of any discrepancy in perception and/or different interpretation or understanding of the information disclosed;

9. information barriers – mechanisms used by professional participants in capital markets and organized commodity markets to ensure the preservation of confidentiality of information held by one structural subdivision or a separate employee of such a professional participant, and the impossibility of its use by another structural subdivision or another employee of the same professional participant;

10. overallotment facility – a mechanism for placing equity and/or debt securities provided for by an underwriting agreement, which gives the investment firm the opportunity to sell them in a quantity exceeding the total quantity of their placement determined by the underwriting agreement;

11. proper disclosure of information – placement of information by an investment firm on its own website;

12. stabilization option (greenshoe option) – a right of the investment firm to purchase during the stabilization period an additional volume of equity and/or debt securities at a price not exceeding the price of equity and/or debt securities determined by the terms of their placement according to the underwriting agreement, for the purpose of completing the fulfillment of open obligations;

13. person publishing regulated information – a person who carries out activities to publish regulated information on behalf of participants in capital markets;

14. full name – the full name (within the meaning of the Civil Code of Ukraine) or the full name of a legal entity – a non-resident according to its constituent documents;

15. Regulation on Insider Information – Regulation on Insider Information and Its Disclosure in Capital Markets, approved by the Decision of the National Commission for Securities and Stock Market dated May 13, 2026 No. 09/21/4366/K03, registered in the Ministry of Justice of Ukraine on May 25, 2026 under No. 741/46135;

16. buyback program with a fixed schedule – a buyback program that provides for fixed dates and volumes of shares to be repurchased during the term of the buyback program and fixed before the moment of publication of such a buyback program;

17. board – supervisory board or board of directors (in a one-tier management structure of the company);

18. weighted average share price – an indicator calculated as the sum of the products of the price and quantity of shares of one type or class for each transaction made, divided by the total quantity of such shares of one type or class according to transactions made during one trading day on one trading venue;

19. stabilization operation – purchase or offer to purchase and/or sale of equity and/or debt securities and instruments associated with them, carried out by an investment firm within the framework of the stabilization period or after its completion within the framework of additional stabilization;

20. stakeholder – a person and/or group of persons whose interests are directly related to the activities of the issuer of shares or intersect with its interests (for example, participants, employees, creditors, service providers and providers of financial instruments, clients or counterparties);

21. share-based schemes – schemes according to which officials or employees of the issuer receive remuneration in shares, options on shares or any other rights to receive shares or receive remuneration based on the dynamics of the share price;

22. sensitive period – a period during which the issuer has decided to postpone the disclosure of insider information in accordance with the Regulation on Insider Information.

The terms "stabilization", "significant offer" and "instruments associated with securities" are used in the meanings provided for in Article 155 of the Law of Ukraine "On Capital Markets and Organized Commodity Markets".

The term "insider information" is used in the meaning of Article 146 of the Capital Markets Act.

The term "insider transactions" is used in the meaning of Article 149 of the Capital Markets Act.

Other terms used in this Regulation are used in meanings defined by the Joint Stock Companies Act, the Capital Markets Act, and regulatory legal acts of the NSCC.

3. The action of this Regulation extends to issuers of shares who carry out the repurchase of their own shares within the framework of a share buyback program, as well as to investment firms that carry out transactions with equity and/or debt securities and instruments associated with such securities for the purpose of stabilization.

The action of this Regulation in part of the requirements for a share buyback program and the procedure for its implementation does not apply to issuers of shares who carry out the repurchase of their own shares in accordance with Articles 100 and 102 of the Joint Stock Companies Act.

4. Actions that meet the requirements of this Regulation and are carried out by:

1. the issuer of shares for the purpose of repurchasing its own shares within the framework of a share buyback program, except for actions carried out within the framework of a decision adopted by the issuer on approval of a share buyback program under the following conditions as of the date of adoption of the decision:

• presence of repurchased shares on the balance sheet of the issuer of shares;
• presence in the issuer of shares of obligations regarding the mandatory repurchase of shares in accordance with the requirements of Article 102 of the Joint Stock Companies Act;
• insolvency of the issuer of shares or if the issuer of shares becomes insolvent as a result of the implementation of the share buyback program;
• the own capital of the issuer of shares is less than the sum of its share capital, reserve capital, and the amount of excess of the liquidation value of preferred shares over their nominal value, or will become less as a result of the repurchase of shares within the framework of the buyback program;
• presence of unsatisfied claims of a creditor filed no later than three days before the date of holding the general meeting of shareholders of the issuer, to the agenda of which the issue of approval of the share buyback program is included;
• the buyback program provides for the repurchase of shares of the issuer without their cancellation, if after the repurchase the share of shares of the issuer in circulation, taking into account shares in pledge, becomes less than 80 percent of the share capital of such an issuer;
• absence of reserve capital formed in accordance with the requirements of Article 21 of the Joint Stock Companies Act, the buyback program does not provide for further reduction of the share capital of the issuer of shares;

2. an investment firm with equity and/or debt securities and instruments associated with such securities for the purpose of stabilization.

are not insider transactions or market manipulation.

II. Requirements for a Share Buyback Program and the Procedure for Its Implementation

5. A share buyback program may be carried out exclusively for the purpose of:

1. reducing the capital of the issuer of shares;
2. ensuring the fulfillment by the issuer of its obligations arising from debt or derivative securities that can be converted into shares (redeemed with shares) of the issuer;
3. ensuring the fulfillment by the issuer or its associated company of its obligations arising from share-based schemes.

The corresponding share buyback program must have only one purpose specified in sub-paragraphs 1-3 of this paragraph.

The issuer cannot carry out share buyback operations before disclosing information about the approval of the corresponding share buyback program, in the manner provided for in Section III of this Regulation.

6. The decision on approving a share buyback program is adopted by the general meeting of shareholders of the issuer.

The general meeting of shareholders of the issuer, if necessary, may delegate authority to the board to make decisions on amendments to the share buyback program.

7. A share buyback program must contain the following information:

1. the purpose of the share buyback program in accordance with paragraph 5 of this Regulation;
2. the maximum monetary amount that will be used for the buyback program;
3. the maximum number of shares subject to repurchase;
4. the start date of the share buyback program;
5. the end date of the share buyback program;
6. the type of share buyback program (standard, delegated, with a fixed schedule);
7. for a delegated share buyback program: the full name and identification code of the investment firm;
8. for buyback of shares with a fixed schedule: the date and planned volume of shares for repurchase;
9. the full name and identification code of the operator of the organized market on which operations for the repurchase of shares within the framework of the buyback program will be carried out;
10. the procedure for determining the price of shares within the framework of the buyback program, indicating the limit prices (maximum and minimum) for such price;
11. the average daily trading volume (if determined in accordance with paragraph 13 of this Regulation).

8. The general meeting of shareholders of the issuer or the board (in case of delegation of corresponding authority by the general meeting of shareholders of the issuer) no later than 30 days before the end date of the share buyback program have the right to adopt a decision on amendments to the share buyback program in part of:

1. increasing the maximum monetary amount that will be used for the buyback program;
2. increasing the maximum number of shares subject to repurchase;
3. the start date (in case if operations within the framework of the share buyback program were not carried out) and/or the end date of the share buyback program;
4. changing the investment firm (in case of conducting a delegated buyback program);
5. changing the operator of the organized market on which operations for the repurchase of shares within the framework of the buyback program will be carried out.

9. The issuer of shares does not have the right within the framework of the buyback program to carry out the repurchase of placed shares in one of the following cases:

1. if the report on the results of the issuance of such shares is not registered in the manner established by legislation;
2. for ordinary shares – until the full payment of current dividends on preferred shares;
3. for preferred shares – until the full payment of current dividends on preferred shares, the owners of which have priority in the order of receiving dividends.

10. Operations within the framework of a share buyback program must meet the following conditions:

1. carried out exclusively on an organized market on which the shares of the issuer are included in the list of assets admitted to trading on the organized capital market;
2. for shares, trading in which is conducted using continuous auction technology, submission of bids during the auction is not allowed, and bids submitted before the start of the auction cannot be changed during its conduct;
3. for shares, trading in which is conducted exclusively by holding auctions, bids may be submitted and changed by the issuer during the auction provided that other market participants have sufficient time to respond to such bids.

11. The issuer of shares or a person acting on its behalf cannot, during the execution of operations within the framework of the buyback program, acquire shares at a price higher than the highest of the following prices:

1. the price of the last transaction regarding such shares made on the organized capital market;
2. the highest current price of a bid for the purchase of such shares on the organized capital market on which their acquisition is carried out.

For the purposes of this paragraph, transactions and bids of the issuer itself or a person acting on its behalf within the framework of the buyback program are not taken into account.

12. The issuer of shares or a person acting on its behalf, during the execution of operations within the framework of the buyback program, cannot, during one trading day, acquire on the organized capital market on which such acquisition is carried out more than 25 percent of the average daily trading volume of shares of such issuer.

13. The average daily trading volume of shares of the issuer is determined by it based on data from the operator of the organized capital market on which such shares are included in the list of assets admitted to trading, as a result of dividing the total number of shares for which transactions were made on this organized market during the calculation period by the number of trading days in such period.

The calculation period is the calendar month preceding the month of adoption of the decision on approving the share buyback program. The determined average daily trading volume in this case is indicated in the share buyback program and is applied throughout the entire term of its validity.

In the event that the shares of the issuer as of the date of adoption of the decision on approving the share buyback program were included in the list of assets admitted to trading for less than the calculation period specified in the second paragraph of this paragraph, the calculation period is the last 20 trading days preceding the date of acquisition of shares.

14. In the event that the average daily trading volume cannot be calculated in accordance with paragraph 13 of this Regulation, the issuer of shares or a person acting on its behalf, during the execution of operations within the framework of the buyback program, cannot, during one trading day, acquire on the organized capital market more than 10 percent of the total volume of shares subject to repurchase in accordance with the buyback program.

15. The issuer of shares is obliged to document the calculation of the average daily trading volume and keep the calculations and their confirmation for three years after the date of completion of the buyback program.

16. The issuer of shares during the term of the buyback program cannot carry out the following operations:

1. sale of its own shares;
2. execution during the closed period of transactions regarding any financial instruments;
3. execution of transactions during the sensitive period regarding any financial instruments, in the event that the issuer has decided to postpone the disclosure of insider information in accordance with the Regulation on Insider Information.

17. Paragraph 16 of this Regulation does not apply in the event that:

1. the issuer of shares has approved a buyback program with a fixed schedule; or
2. in accordance with a delegated buyback program, the investment firm makes decisions regarding the terms of repurchase of the issuer's shares independently of the issuer.

18. Sub-paragraph 1 of paragraph 16 of this Regulation does not apply to issuers that are an investment firm or a bank and have developed and implemented effective information barriers aimed at preventing the unauthorized disclosure to persons responsible for trading in their own shares of insider information by persons who have access to insider information that directly or indirectly relates to such an issuer.

The provisions of paragraphs 2 and 3 of paragraph 16 of this Regulation do not apply in the event that the issuer is an investment firm or a bank that has developed and implemented effective information barriers aimed at preventing the unauthorized disclosure to persons responsible for trading in their own shares on behalf of clients of insider information by persons who have access to insider information that directly or indirectly relates to such an issuer.

19. The issuer of shares has the right to delegate the execution of the buyback program to an investment firm. The terms of such delegation are determined by a contract concluded between the investment firm and the issuer of shares.

In a delegated buyback program, authority to make decisions regarding the terms of repurchase of the issuer's shares, price and/or volume of operations within the limits established by this Regulation and the approved share buyback program is transferred to the investment firm.

The issuer of shares cannot interfere with the investment firm's decisions regarding the carrying out of operations within the framework of a delegated buyback program.

III. Procedure for Disclosure of Information within the Framework of a Buyback Program

20. The issuer of shares, which has approved a share buyback program and carries out operations for the repurchase of shares within the framework of such a program, ensures the disclosure of information about:

1. approval of the share buyback program (content and form of information is determined in Appendix 1);
2. amendments to the share buyback program (content and form of information is determined in Appendix 2);
3. each operation for repurchase within the framework of the buyback program (content and form of information is determined in Appendix 3);
4. completion of the share buyback program (content and form of information is determined in Appendix 4).

21. Information about the share buyback program, provided for in paragraph 20 of this Regulation, is disclosed by the issuer immediately by placing it on its own website, placing it in the database of the person who publishes regulated information, submitting it to the NSCC, but no later than the end of the next working day after:

1. the date of adoption of the decision by the general meeting of shareholders of the issuer on approval of the share buyback program – for information about the buyback program provided for in sub-paragraph 1 of paragraph 20 of this Regulation;
2. the date of adoption of the decision by the general meeting of shareholders of the issuer or the board (in case of delegation of corresponding authority by the general meeting of shareholders of the issuer) on amendments to the share buyback program – for information about the buyback program provided for in sub-paragraph 2 of paragraph 20 of this Regulation;
3. the end date of the share buyback program according to the information specified in the share buyback program – for information about the buyback program provided for in sub-paragraph 4 of paragraph 20 of this Regulation.

22. Disclosure of information about the buyback program, provided for in sub-paragraph 3 of paragraph 20 of this Regulation, is carried out by the issuer in detailed and aggregated forms provided for in Appendix 3 to this Regulation, no later than the end of the 7th working day after the day of execution of the operation for repurchase of shares within the framework of the buyback program.

23. Buyback program information is disclosed clearly and unambiguously in full, in the state language of Ukraine, and, at the request, additionally in any other foreign language.

24. When placing buyback program information on the website, the issuer ensures free (without establishing any restrictions), free access to the placed information, easy and clear search for information, display of information in chronological order.

Buyback program information on the issuer's website is placed in a section titled "Information for Shareholders and Stakeholders". A link to the page for accessing this section is placed on the main (home) page of the issuer's website.

Buyback program information on the issuer's website is placed in the form of an electronic document signed with an electronic signature based on a qualified open key certificate of an authorized person of the issuer, suitable for:

11 acceptance by a person; printing on A4 paper; the ability to perform contextual search and copy any information placed on it (in DOC (DOCX) or PDF format); downloading; reading the qualified certificate of the open key of an authorized person of the issuer. Additionally, information about the buyback program is posted on the issuer's website in a machine-readable XML format with an electronic signature of the authorized person of the issuer of shares, based on a qualified certificate of the open key, in accordance with the description of sections and XML file schemes defined by a separate normative and technical document of the NSCSCU. All information about the buyback program must remain freely publicly available for no less than five years from the date of its posting. In the event of the issuer changing its own website, starting from the day of the launch of the new website, all information about the buyback program that was previously posted and whose posting period has not expired must be posted there.
25. Requirements for submitting information about the buyback program for placement in the database of the person who discloses regulated information, as well as regarding confirmation of the fact of such submission, are defined in Appendix 5 to this Regulation.
The procedure for interaction between the issuer of shares and the person who discloses regulated information is determined by the contract concluded between them.
26. Information about the buyback program is submitted to the NSCSCU in the manner established by the Regulation on the submission of regulated data:

1. through the person who discloses regulated information and provides information services in capital markets and organized commodity markets with the submission of reporting and/or administrative data to the NSCSCU. In this case, the person who discloses regulated information independently submits the relevant information to the NSCSCU and carries out confirmation of such submission, notifying the issuer of financial instruments in the manner established by the corresponding contract, regulation, or other document;
2. independently by connecting its own information and communication system to the software and technical complex of the NSCSCU in accordance with the interaction protocol defined by the corresponding normative and technical act of the NSCSCU.
   Information about the buyback program is submitted to the NSCSCU in the form of electronic documents in accordance with the description of sections and XML file schemes defined by a separate normative and technical document of the NSCSCU, and is compiled using the Reference System and Classifiers of the National Commission for Securities and Stock Market, approved by the decision of the NSCSCU dated May 8, 2012 No. 646, registered in the Ministry of Justice of Ukraine on May 25, 2012 under No. 831/21143.

27. The issuer of shares must notify the operator of the organized market where the shares of this issuer are admitted to trading, of the posting of information about the buyback program on its own website or in the database of the person who discloses regulated information, in an order agreed with it.
28. The issuer of shares notifies the NSCSCU / stakeholders of possible untimely disclosure of information about the buyback program by sending / posting a notice on its own website in the form according to Appendix 6 to this Regulation, signed by the authorized person of the issuer, with an explanation of the reasons that led to the possible untimely disclosure of information about the buyback program and a new date for the disclosure of information, which must be justified by the terms necessary for the issuer of shares to take measures to eliminate the causes of untimely disclosure of the relevant information about the buyback program.
29. The issuer of shares notifies the NSCSCU / stakeholders of the disclosure of inaccurate information about the buyback program, including information that became the result of a technical error, no later than 10 o'clock of the next working day after the day when the issuer of shares learned about the disclosure of inaccurate information, by sending / posting a notice on its own website in the form according to Appendix 7, signed by the authorized person of the issuer of shares.
    Disclosure of corrected information is carried out by the issuer in the same way as the inaccurate information was disclosed.
30. The obligation to disclose information in accordance with the requirements of this section ceases in the event of:

1. termination of the issuer of shares – from the date of entry of the corresponding record into the EDR;
2. cancellation of admission of the issuer's shares to trading on a certain organized stock market – from the day of cancellation of such admission by the operator of the organized capital market;
3. disclosure of information about the completion of the share buyback program – from the day of disclosure by the issuer of information provided for in subparagraph 4 of paragraph 20 of this Regulation.
   IV. Conditions for carrying out stabilization of unit and/or debt securities

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31. Stabilization is carried out by an investment firm in the event of a significant supply of unit and/or debt securities exclusively for the purpose of supporting their market price during a specified period of time (hereinafter – stabilization period) due to oversupply of offers for the sale of such securities.
The mechanism for placement/excess placement/sale of unit and/or debt securities, the right of the investment firm to carry out stabilization operations upon their public offer during issuance or circulation, parameters of deviation of their offer from ordinary trading by total value of such offer and by method of sale of such securities, stabilization period and stabilization option, as well as the person who must ensure proper disclosure of information provided for in this section, are determined by the conditions of the underwriting agreement concluded between the investment firm and the issuer or offeror of securities.
32. Upon public offer during issuance of unit securities, stabilization operations (except for operations to complete the fulfillment of open obligations) may be carried out by the investment firm during the stabilization period, which must not exceed 30 calendar days from the day:
start of trading of such securities on the organized capital market; or disclosure by the issuer of the final price of securities in the event that the rules of the operator of the organized capital market provide for trading in the pre-session period.
33. Upon circulation of unit securities, stabilization operations (except for operations to complete the fulfillment of open obligations) may be carried out by the investment firm during the stabilization period, which must not exceed 30 calendar days from the day of registration by the NSCSCU of the report on the results of issuance of the relevant securities.
34. Stabilization operations (except for operations to complete the fulfillment of open obligations) regarding debt securities may be carried out by the investment firm during the stabilization period, which must not exceed 60 days from the day of disclosure by the issuer of the offer conditions. If the funds from the placement of debt securities were received by the issuer earlier than this deadline, stabilization operations regarding such debt securities may be carried out by the investment firm for 30 calendar days from the day of receipt by the issuer of funds from the placement of debt securities.
35. Additional stabilization is carried out by the investment firm after the completion of the stabilization period for the purpose of completing the fulfillment of open obligations that arose during the stabilization period as a result of excess placement and/or realization of the stabilization option, and must meet the following conditions:

1. the volume of excess placement of unit and/or debt securities by the investment firm must not exceed 5% of the volume of placement of unit and/or debt securities defined by the underwriting agreement, and not provided for by the stabilization option;
2. the volume of unit and/or debt securities that the investment firm can purchase or receive as a result of the stabilization option must not exceed 15% of the volume of placement of unit and/or debt securities defined by the underwriting agreement.
   In the event of realization of the stabilization option, the investment firm ensures immediate, but no later than the end of the next working day from the day of carrying out such operation, proper disclosure of relevant information with the inclusion of information provided for in paragraph 38 of this Regulation.

36. Purchase or offer to purchase unit and/or debt securities (except for debt securities that can be exchanged or converted into unit and/or debt securities) during the stabilization period is carried out by the investment firm at a price that cannot exceed the price disclosed by the issuer in the final offer conditions.
    Purchase or offer to purchase debt securities that can be exchanged or converted into unit and/or debt securities during the stabilization period may be carried out by the investment firm at the market price of such debt securities as of the date of disclosure by the issuer of the final conditions of the offer for exchange or conversion.
37. The investment firm no later than the date of the start of placement of unit and/or debt securities, defined by the conditions of the public offer, or no later than the next working day from the day of acceptance by the operator of the organized market of the decision to admit such unit and/or debt securities to trading on the organized market, ensures proper disclosure of such information about the conditions of stabilization:

1. full name of the issuer / offeror or name (within the meaning of the Civil Code of Ukraine) of the offeror, if he is an individual, in whose interests stabilization is carried out, his identification code (registration code according to EDRISCI regarding issuers of securities of collective investment institutions);

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2) information about unit and/or debt securities (type, ISIN code) and their nominal value;
3) quantity of excess placement of unit and/or debt securities (if any);
4) possibility of using the stabilization option and the quantity of unit and/or debt securities provided for within its implementation;
5) stabilization period;
6) full name of the operator of the organized capital market;
7) notification that stabilization may not be carried out by the investment firm or may be terminated by it at any time during the stabilization period without prior notification.
The investment firm sends a notice to the NSCSCU and the operator of the organized market regarding proper disclosure of information about the conditions of stabilization no later than the next working day from the day of carrying out such disclosure.
38. The investment firm properly discloses relevant information within 7 working days from the day of carrying out the stabilization operation and notifies the NSCSCU of such disclosure. The information must contain the following details:

1. full name of the issuer / offeror or name (within the meaning of the Civil Code of Ukraine) of the offeror, if he is an individual, in whose interests stabilization is carried out, his identification code (registration code according to EDRISCI regarding issuers of securities of collective investment institutions);
2. description of the stabilization operation with indication of information about unit and/or debt securities (type, ISIN code) and related instruments, their quantity;
3. date of performance of the stabilization operation;
4. full name of the operator of the organized capital market or information regarding the performance of the stabilization operation outside the organized capital market;
5. price of one unit and/or debt security regarding which the stabilization operation was carried out.

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39. The investment firm properly discloses a report on the carried out stabilization within 7 working days from the day of completion of the last stabilization operation and notifies the NSCSCU of such disclosure. The report on the carried out stabilization must contain the following details:

1. full name / offeror or name (within the meaning of the Civil Code of Ukraine) of the offeror, if he is an individual, in whose interests stabilization was carried out, his identification code (registration code according to EDRISCI regarding issuers of securities of collective investment institutions);
2. date of the start of the stabilization period;
3. date of the last stabilization operation;
4. price range (maximum and minimum price) within which stabilization operations regarding the relevant unit and/or debt security were carried out for each day during which such operations were performed;
5. full name of the operator of the organized capital market or information regarding the performance of stabilization operations outside the organized capital market.
   If the investment firm did not carry out stabilization of unit and/or debt securities in accordance with the conditions, the information about which was properly disclosed in accordance with paragraph 37 of this Regulation, the investment firm must properly disclose information about the non-performance of the relevant stabilization and notify the NSCSCU of such disclosure within 3 working days from the last day of the stabilization period.

40. Accounting and storage of information about carried out stabilization operations is carried out by the investment firm in accordance with the Requirements (rules) for carrying out activities in trading securities: brokerage activity, dealer activity, underwriting, management of securities, approved by the decision of the NSCSCU dated November 3, 2020 No. 640, registered in the Ministry of Justice of Ukraine on January 14, 2021 under No. 62/35684.
    Director of the Methodology Department Maxim TYMOKHIN

Appendix 1
to the Regulation on the procedure for implementing a share buyback program and conducting stabilization (subparagraph 1 of paragraph 20) Notice on approval of the share buyback program 1 Full name of the issuer of shares 2 Identification code of the legal entity 3 International Legal Entity Identifier (LEI code) (if available) 4 International Securities Identification Number (ISIN) 5 Purpose of the buyback program 1 6 Maximum monetary amount to be used for the buyback program 7 Maximum number of shares subject to buyback 8 Start date of the share buyback program 9 End date of the share buyback program 10 Type of share buyback program 2 11 Full name of the legal entity of the investment firm 3 12 Identification code of the legal entity of the investment firm 3 13 Dates and planned volumes of share buyback 4 14 Full name of the legal entity of the operator of the organized market on which share buyback operations will be carried out within the framework of the buyback program 15 Identification code of the legal entity of the operator of the organized market on which share buyback operations will be carried out within the framework of the buyback program 16 Procedure for determining the price of shares within the framework of the buyback program with indication of limit prices for such price 17 Average daily trading volume (if determined in accordance with paragraph 13 of this Regulation) 18 Date of adoption of the decision on approval of the share buyback program 19 Date of preparation of the notice on approval of the buyback program 1 – the purpose of the share buyback program is indicated in accordance with paragraph 5 of this Regulation. 2 – one type of share buyback program is indicated: standard, delegated, with a fixed schedule. 3 – indicated in the case of a delegated share buyback program.

2
Continuation of Appendix 1
4
– indicated in the case of a share buyback program with a fixed schedule.

---

(position)

---

(last name and initials of the authorized person of the issuer of shares) ____________________________

Appendix 2
to the Regulation on the procedure for implementing a share buyback program and conducting stabilization (subparagraph 2 of paragraph 20) Notice on amendments to the share buyback program 1 Full name of the issuer of shares 2 Identification code of the legal entity 3 International Legal Entity Identifier (LEI code) (if available) 4 International Securities Identification Number (ISIN) 5 Purpose of the buyback program 1 6 Type of share buyback program 2 7 Date of adoption of the decision on amendments to the share buyback program 8 Governing body of the company that adopted the decision on amendments to the share buyback program 9 Changes made to the share buyback program in accordance with paragraph 8 of the Regulation 3 :
9.1 Maximum monetary amount to be used for the buyback program
9.2 Maximum number of shares subject to buyback
9.3 Start date of the share buyback program
9.4 End date of the share buyback program
9.5 Full name of the legal entity of the investment firm 4
9.6 Identification code of the legal entity of the investment firm 4
9.7 Full name of the legal entity of the operator of the organized market on which
share buyback operations will be carried out within the framework of the buyback program
9.8 Identification code of the legal entity of the operator of the organized market on which
share buyback operations will be carried out within the framework of the buyback program 10 Date of preparation of the notice on amendments to the buyback program 1 – the purpose of the share buyback program is indicated in accordance with paragraph 5 of this Regulation. 2 – one type of share buyback program is indicated: standard, delegated, with a fixed schedule. 3 – subparagraphs 9.1 – 9.8 are filled depending on the changes made to the share buyback program.

2
Continuation of Appendix 2
4
– indicated in the case of carrying out a delegated share buyback program.

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(position)

---

(last name and initials of the authorized person of the issuer of shares) ____________________________

Appendix 3
to the Regulation on the procedure for implementing a share buyback program and conducting stabilization (subparagraph 3 of paragraph 20, paragraph 22) Notice on share buyback operations carried out within the framework of the share buyback program
Part I. Identification Data
1 Full name of the issuer of shares
2 Identification code of the legal entity
3 International Legal Entity Identifier (LEI code) (if available) 4 International Securities Identification Number (ISIN)
Part II. Detailed Form 1
Identification Data of the operator of the organized market on which buyback operations were carried out Identification Data of the investment firm 2 No. p/o Identifi cation data of the op eration of buyback (date, order number and reason) full name identification code full name identification code Quantity of shares Price per share (UAH.) Total amount Full name (for legal entity – shareholder) or surname, given name, middle name – for physical person (shareholder)) with whom a contract was concluded for buyback of shares within the framework of the share buyback program 1 2 3 4 5 6 7 8 9 10 1 – a separate row is filled for each operation 2 – filled in the case of carrying out a delegated share buyback program
Part III. Aggregated Form 1
No. p/o
Trading day
Identification Data of the operator of the organized market on which buyback operations were carried out Identification Data of the investment firm 2 Total volume of shares Weighted average

2
Continuation of Appendix 3 full name identification code full name identification code price of shares (UAH.)
1 2 3 4 5 6 7 8
1
– aggregated form is filled in the case of carrying out share buyback operations of one type/class, carried out within the framework of the buyback program, during one trading day and on one trading venue. 2 – filled in the case of carrying out a delegated share buyback program. ___________________ (position) ___________________________ (last name and initials of the authorized person of the issuer of shares) ____________________________

Appendix 4
to the Regulation on the procedure for implementing a share buyback program and conducting stabilization (subparagraph 4 of paragraph 20) Notice on completion of the share buyback program 1 Full name of the issuer of shares 2 Identification code of the legal entity 3 International Legal Entity Identifier (LEI code) (if available) 4 International Securities Identification Number (ISIN) 5 Purpose of the buyback program 1 6 Type of share buyback program 2 7 Full name of the legal entity of the investment firm 3 8 Identification code of the legal entity of the investment firm 3 9 Dates and volumes of share buyback 4 10 Full name of the legal entity of the operator of the organized market on which share buyback operations were carried out within the framework of the buyback program 11 Identification code of the legal entity of the operator of the organized market on which share buyback operations were carried out within the framework of the buyback program 12 Planned start date of the share buyback program 13 Planned end date of the share buyback program 14 Actual end date of the share buyback program 15 Total amount of monetary funds that were used for the buyback program 16 Number of shares that were bought back during the share buyback program 17 Date of preparation of the notice on completion of the buyback program

2
Continuation of Appendix 4
1
– the purpose of the share buyback program is indicated in accordance with paragraph 5 of this Regulation.
2
– one type of share buyback program is indicated: standard, delegated, with a fixed schedule.
3
– indicated in the case of a delegated share buyback program.
4
– indicated in the case of a share buyback program with a fixed schedule.

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(position)

---

(last name and initials of the authorized person of the issuer of shares) ____________________________

Appendix 5
to the Regulation on the Procedure for Implementing a Share Buyback Program and Conducting Stabilization (point 25) Requirements for submitting buyback program information for placement in the database of the person disclosing regulated information as well as regarding confirmation of the fact of such submission

1. Information for placement in the database of the person disclosing regulated information is provided in the form of an electronic document with an electronic signature of an authorized person of the issuer of shares applied to it, based on a qualified open key certificate, and must additionally contain identification data of the issuer of shares, represented by the authorized person (full or official abbreviated name and identification code of the legal entity).
   If the qualified open key certificate of the authorized person of the issuer does not contain the data specified in the first paragraph of this point, such information is considered not submitted.

2. As a result of providing and publishing information, the issuer of shares receives a certificate of publication of information in the form of an electronic document with a qualified electronic signature of the person disclosing regulated information applied to it, using a qualified electronic trust service for formation, verification, and confirmation of a qualified time stamp (regarding the time of creation of this certificate), which contains the following information:

1. identification code of the legal entity disclosing regulated information;
2. unique registration number (identifier) of the received electronic document;
3. identification code of the legal entity of the issuer of shares;
4. date of registration of the electronic document;
5. outgoing registration number of the electronic document;
6. date and time (to the second) of receipt by the person disclosing regulated information of the electronic document;
7. date and time (to the second) of publication by the person disclosing regulated information of the electronic document.

3. If the person disclosing regulated information establishes a discrepancy between the electronic document and/or the information contained therein and the requirements established by the NSCCUFM, or in case of establishing other reasons making publication impossible, the issuer of shares receives a certificate of impossibility of publishing information in the form of an electronic document with a qualified electronic signature of the person disclosing regulated information applied to it, using a qualified electronic trust service for formation, verification, and confirmation of a qualified time stamp (regarding the time of creation of this certificate), which contains the following information:
   identification code of the legal entity disclosing regulated information; unique registration number (identifier) of the received electronic document; identification code of the legal entity of the issuer of shares; date of registration of the electronic document; outgoing registration number of the electronic document; date and time (to the second) of receipt by the person disclosing regulated information of the electronic document; data on the discrepancy of the electronic document and/or the information contained therein with the requirements established by the NSCCUFM or on other reasons making publication impossible.

2
Continuation of Appendix 5

4. Information received from the issuer of shares shall be published in the following forms:
   in the form of the received original electronic document, suitable for unlimited download and copying (including the qualified electronic signature applied to the electronic document); in visual form allowing human perception of the content of information, as part of the informational content of the website; in visual form allowing human perception of the content of information and reproduction of information on paper, for unlimited download and copying; in a form allowing perception of the content of information in a machine-readable format. Information shall be simultaneously published in all specified forms. Prior to publishing information in the specified forms, its publication or dissemination by the person disclosing regulated information in other forms is not permitted. Along with the publication of information, the person disclosing regulated information publishes and makes available for unlimited download the certificate of publication of information referred to in point 2 of this Appendix. ________________________________

Appendix 6
to the Regulation on the Procedure for Implementing a Share Buyback Program and Conducting Stabilization (point 28) Notification of possible untimely disclosure of buyback program information

1 Full name of the issuer of shares
2 Identification code of the legal entity
3 Date of preparation of the notification
4 Type of buyback program information 1
5 Date of occurrence of buyback program information 6 Date when disclosure of buyback program information should have occurred 7 Justification of reasons leading to untimely disclosure of buyback program information 8 New date of disclosure of buyback program information, justified by the terms for eliminating the causes of untimely disclosure

1 – buyback program information is indicated in accordance with point 20 of this Regulation ___________________ (position) ___________________________ (last name and initials of the authorized person of the issuer of shares) ____________________________

Appendix 7
to the Regulation on the Procedure for Implementing a Share Buyback Program and Conducting Stabilization (point 29) Notification of disclosure of inaccurate buyback program information

1 Full name of the issuer of shares
2 Identification code of the legal entity
3 Date of preparation of the notification
4 Type of buyback program information 1
5 Date of occurrence of buyback program information 6 Date of disclosure of inaccurate buyback program information 7 Justification of reasons for disclosure of inaccurate buyback program information 8 Date of disclosure of corrected buyback program information 9 URL address of the website of the issuer of shares, where the file containing the corrected buyback program information is placed

1 – buyback program information is indicated in accordance with point 20 of this Regulation ___________________ (position) ___________________________ (last name and initials of the authorized person of the issuer of shares) ________________________________

APPROVED
Decision of the National Commission for Securities and Stock Market ___________ No. ___________ Amendments to the Regulation on Disclosure of Information by Issuers of Securities, as well as Persons Providing Security for Such Securities, approved by the Decision of the National Commission for Securities and Stock Market of June 06, 2023 No. 608, registered in the Ministry of Justice of Ukraine on August 02, 2023 under No. 1307/40363

1. Complete Section VII with a new Chapter 11 of the following content:
   "11. Procedure for Disclosing Information Carried Out Within the Framework of a Buyback Program

2. For the purposes of disclosing information carried out within the framework of a share buyback program, issuers of securities disclose the share buyback program, as well as information about buyback operations carried out within the framework of the buyback program in accordance with the Regulation on the Procedure for Implementing a Share Buyback Program and Conducting Stabilization approved by the NSCCUFM.

3. The obligation to disclose information carried out within the framework of a share buyback program, as provided for in point 139 of this Regulation, applies to issuers of securities admitted to trading on organized capital markets who have adopted a decision to approve a share buyback program."

4. Consider points 139–141 of Section VIII as points 141–143 of Section VIII respectively.

5. In point 142 of Section VIII, replace the digit "139" with the digit "141".

6. In the note of Appendix 69, replace the words and digits "(point 139)" with the words and digits "(point 141)".

Director of the Department of Methodology Maksym TYMOKHIN