Portfolio Investments LLC

Dear friends, colleagues and partners! 🎉 We wish you a very Happy New Year! This year has been filled with exciting projects, new milestones, and fruitful partnerships. We deeply appreciate your trust, support, and contributions to our shared success. ✨ May the New Year bring you joy, prosperity, and inspiration for new achievements. We wish you health, happiness, and success in all your endeavors! 💼 We will continue to move forward, building a future full of opportunities together. Thank you for being with us! 🌐 Happy New Year! | С Новым годом! | Yangi yil muborak bo‘lsin! #Uzbekistan #piamg #happynewyear2025

The State Asset Management Agency (SAMA) has announced the sale of a 100% state share in "Invest Group Centre" LLC. Portfolio Investments LLC invites all interested parties to take advantage of the unique opportunity to participate in the privatization of one of the most popular and recognizable facilities in Tashkent — the sports and wellness complex "Yoshlik" (hereinafter referred to as the "Yoshlik" SWC, formerly NBU "Start"). The "Yoshlik" SWC is well-known and popular among local residents due to its convenient location near the city center and a wide range of sports services. The complex offers excellent conditions for swimming, tennis, football, athletics, and other group and individual sports. The total area of the complex is 7.4 hectares, including 10,870 sq.m. of modern sports facilities and 6,687 sq.m. of residential space. Investors interested in acquiring this asset can submit an Expression of Interest (EOI) in accordance with the requirements provided in the following link https://lnkd.in/dhkCXT5w. Key acquisition conditions: ➡️ Maintaining the sports and wellness activities of the complex, which is on the asset’s balance sheet, for at least 10 (ten) years; ➡️ Prohibiting the construction of buildings and structures on the territory of the complex that are not related to its sports and wellness activities (except for repair work), and conducting any repair or restoration work strictly with the permission of the city planning council. Expressions of Interest are accepted until 18:00 Tashkent time on November 1, 2024, in Uzbek, Russian, or English. The privatization of the state share in "Invest Group Centre" LLC is a significant step in developing Uzbekistan’s investment climate. This asset opens new opportunities for strategic investors, facilitating the modernization and growth of the company, which, with proper management, can become a driver of economic growth.

Dear colleagues, esteemed teachers, and mentors! We warmly congratulate you on Teachers' and Mentors' Day! Your hard work is the foundation of our growth and success. Thanks to your wise leadership and knowledge, we not only grow professionally but also strengthen our core values. May your inspiration continue to guide your students and colleagues. We wish you recognition, health, and boundless energy! Happy holiday!   Portfolio Investments Team

Dear Investors, We are pleased to offer you a unique opportunity to invest in one of the most promising sectors of Uzbekistan’s economy. The country’s insurance market is just beginning to develop, and now is the best time to take advantage of its immense potential. Under the stock symbol #TMYS, Portfolio Investments is offering 8% of the charter capital of “Temiryo’l-Sug’urta” JSC on the secondary market through the STK Mainboard trading platform of RSE “Tashkent” starting from September 12, 2024. Currently, the penetration level of insurance services in Uzbekistan’s GDP is less than 0.5% (https://lnkd.in/dSmkW-xP), which is significantly lower than the global average of 7.1% (https://lnkd.in/dKQU_Mcb). This presents unique investment opportunities. In the near future, the introduction of a number of mandatory insurance products across the country is expected, making the insurance sector even more attractive and dynamic.  “Temiryo’l-Sug’urta” JSC holds a B+ rating with a stable outlook from S&P Global Ratings, confirming its financial stability. As of the end of the first half of 2024, the company’s assets amounted to 206 billion UZS, reserves — 86 billion UZS, and equity — 98 billion UZS. At the end of last year, the company paid dividends of 171.11 UZS (https://lnkd.in/dguatK8i) per common share, which represents a 17.11% return on nominal value or 11.4% return on the offer price. The company offers over 80 basic insurance services and more than 50 modifications. Additionally, at the annual general meeting of shareholders based on the results of 2023, the company distributed retained earnings and issued bonus shares to all shareholders at a ratio of 1:2 (https://lnkd.in/dWKPmPY9), representing a 50% return on the nominal value of shares. The offering includes more than 6 million shares at a price of 1,500 UZS per share, equivalent to 9 billion UZS, with the company’s capitalization at 112.5 billion UZS. By investing in “Temiryo’l-Sug’urta” JSC you have the opportunity to become part of one of the most promising insurance companies in Uzbekistan and benefit from the growth of this emerging sector. Disclaimer: Investments are always associated with the risk of capital loss. Please conduct your own risk assessment before making any investment decisions. #Uzbekistan #Investments #piamg #Insurance #SPO #IPO

Dear partners and investors, We wholeheartedly congratulate you on the 33rd anniversary of the Independence of the Republic of Uzbekistan! This significant day symbolizes freedom, prosperity, and the pursuit of a brighter future. We take pride in the achievements our country has made over the years and are delighted to celebrate this holiday together with you. Your support and trust are the foundation of our success, and we are confident that our collaboration will continue to yield mutual benefits for the development of Uzbekistan. May each new day bring you success, prosperity, and well-being! Sincerely, Portfolio Investments Team

⚡️ We are pleased to announce that, following the results of a qualifying competition held by the State Asset Management Agency, Portfolio Investments was selected as a consultant on the privatization of the companies Avtooyna LLC and Uz-Koram Kompani LLC. If you are interested in purchasing these companies, please submit an Expression of Interest to munir.yakubov@piamg.uz. Your submission should also include the following information: ✅ Brief overview of the Participant (including Tax Identification Number); ✅ Information about shareholders with more than 5% of the company's shares (specifying ownership percentage) along with details of ultimate beneficiaries; ✅ Financial statements for the past 3 years. Expressions of interest must be sent to the provided email address in Uzbek, English, or Russian languages. Please ensure your submissions adhere to the respective deadlines: ❗️ For Uz-Koram Kompani LLC – August 20, 2024, 18:00. ❗️ For Avtooyna LLC – August 27, 2024, 18:00. The selection process will be based on the following criteria: ➡️ Sufficient financial resources to ensure a successful acquisition;   ➡️ No judicial or administrative barriers preventing participation in the privatization process;   ➡️ Adherence to all provisions of the Law of the Republic of Uzbekistan No. 660-II "On Combating the Legalization of Incomes Obtained from Criminal Activity";  ➡️ Assurance that applicants and their shareholders do not hold any state shares;  ➡️ Not listed on the sanctions lists of the EU, the USA, or other international financial institutions, and compliance with international sanctions. Further details on participation can be found here (https://lnkd.in/d9fAEENQ) and here (https://lnkd.in/d7EMmJ3g). Thank you for your attention, and we eagerly await your applications. #Uzbekistan #Investments #piamg #UzAuto #privatization

📈 Financial results (https://lnkd.in/dD465qep) of JSCB “Hamkorbank” (#HMKB) for 2023 compared to 2022: 🔺Assets increased from 16.72 to 20.98 trillion UZS (+25) 🔺Equity capital increased from 2.57 to 3.76 trillion UZS (+46%) 🔺Liabilities rose from 14.15 to 17.22 trillion UZS (+22%) 🔺Revenue grew from 4.84 to 6.74 trillion UZS (+39%) 🔺Net profit increased from 735 billion to 1.20 trillion UZS (+63%) Multiples: ▪️P/E : 2.6 ▪️ P/B : 0,8 ▪️ P/S : 0,5▪️ ROE : 32% ▪️ ROA : 5.7% #Uzbekistan #Investments #piamg #earnings #HMKB

📈 Financial results (https://lnkd.in/deDPYVdX JSC "O'zbektelekom" (#UZTL) for 2023 compared to 2022: 🔺Assets increased from 8.43 to 10.41 trillion UZS (+23%) 🔻Equity capital decreased from 2.47 to 2.44 trillion UZS (-1%) 🔺Liabilities increased from 5.96 to 7.96 trillion UZS (+33%) 🔺Revenue increased from 6.49 to 7.85 trillion UZS (+21%) 🔻Net profit decreased from 227 to 25 billion UZS (-89%) Multiples: ▪️P/E : 56 ▪️ P/B : 0.6 ▪️ P/S : 0.2▪️ ROE : 1% ▪️ ROA : 0.2% #Uzbekistan #Investments #piamg #earnings #UZTL

📈 Financial results (https://lnkd.in/dBpghgZK JSC "Kvarts" (#KVTS) for 2023 compared to 2022: 🔻Assets decreased from 842 to 777 billion UZS (-8%) 🔻Equity capital decreased from 401 to 379 billion UZS (-6%) 🔻Liabilities reduced from 441 to 398 billion UZS (-10%) 🔻Revenue declined from 621 to 531 billion UZS (-15%) 🔻Net profit dropped from 64 to 22 billion UZS (-66%) Multiples: ▪️P/E : 4.5 ▪️ P/B : 0.3 ▪️ P/S : 0.2▪️ ROE : 5.7% ▪️ ROA : 2.8% #Uzbekistan #Investments #piamg #earnings #KVTS

📈 Financial results (https://lnkd.in/dwPJMenj) of JSCIB “Ipoteka-bank” (#IPTB) for 2023 compared to 2022: 🔺Assets increased from 44.2 to 47.6 trillion UZS (+8) 🔺Equity capital increased from 5.9 to 7.6 trillion UZS (+28%) 🔺Liabilities increased from 38.3 to 40.1 trillion UZS (+5%) 🔺Revenue increased from 9.9 to 10.8 trillion UZS (+8%) 🔻Net profit decreased from 1.16 trillion to 818.9 billion UZS (-29%) Multiples: ▪️P/E : 5.1 ▪️ P/B : 0,5 ▪️ P/S : 0,4▪️ ROE : 10,8% ▪️ ROA : 1,7% #Uzbekistan #Investments #piamg #earnings #IPTB