ABH Holdings S.A. (“ABHH”), the majority shareholder of JSC Sense Bank, has been informed that Bill No. 9107-1 relating to the draft Law of Ukraine “On Amendments to Certain Legislative Acts of Ukraine Concerning Improvement of the Procedure for Withdrawal of a Bank from the Market Under Martial Law” has now been signed into law by the President of Ukraine. ABHH is gravely concerned that the National Bank of Ukraine will make good its intention to nationalise JSC Sense Bank without compensating ABHH beyond a nominal amount.

In case of nationalisation of JSC Sense Bank, the loss to ABHH and its shareholders will be significant. Accordingly, ABHH will be taking appropriate measures, in terms of both domestic and international law and available treaties, in order to protect its investment and mitigate the losses. In particular, ABHH will seek protection under the BLEU (Belgium- Luxembourg)-Ukraine Bilateral Investment Treaty.

The new law is discriminatory and violates international law standards of fairness to investors. Nationalisation of JSC Sense Bank would result in losses for bondholders as well as the shareholders of ABHH including a US charity focused on cancer research and a major European bank.