A special license issued by the US Treasury Department that postpones the full application of sanctions against NIS j.s.c until March 28, 2025.

The entry into force of the full sanctions imposed on NIS by the US Treasury Department has been postponed until March 28, 2025 at the latest, according to a document (license) provided to the company by the institution.

The license allows the following activities to be carried out without hindrance:

• Carrying out business, contracts and other agreements involving NIS or its operating subsidiaries
• Carrying out all transactions with NIS and its operating subsidiaries that are directed towards the performance of the contract
• Disposing of or transferring, or facilitating the disposal or transfer of, debt or equity issued or guaranteed by NIS or its operating subsidiaries (“Covered Debt or Equity”) to a non-U.S. person
• Facilitating, clearing and settling trades in Covered Debt or Equity based on orders placed before 4:00 p.m. Eastern Standard Time, January 10, 2025
• Executing financial derivative contracts (directed towards their performance and their termination (“wind-down”)) that were entered into before 4:00 p.m. Eastern Standard Time January 10, 2025 and which (i) involve NIS or its operating subsidiaries as the other party or (ii) are connected to the Covered Debt or Equity
• Official business of diplomatic or consular missions outside the Russian Federation involving NIS or its operating subsidiaries.

NIS will use the period of suspension of sanctions to continue working, in cooperation with shareholders, on finding solutions that will enable the smooth operation of the company in the long term and ensure the energy stability of the Republic of Serbia.

The company’s priorities, as before, remain the orderly supply of the domestic market with all types of oil derivatives, maintaining regular operations and taking care of employees. The supply of the NIS gas station chain is regular, and the Pančevo Oil Refinery is operating in a normal mode, delivering all necessary oil derivatives to the market. NIS, for its part, will do everything possible to overcome, as soon as possible, the small number of difficulties related to payment transactions that have occurred at NIS gas stations due to the application of sanctions by certain institutions. NIS continues to closely monitor the current situation, and will promptly inform the public about any new circumstances that may affect the company’s operations.