Eurasian Resources Group S.à r.l. (ERG), a leading diversified natural resources group headquartered in Luxembourg, would like to announce the following changes to the composition of the Board of Directors, which are aimed at further developing and strengthening the Company in response to global challenges and fast-changing market conditions:

• Mr Shukhrat Ibragimov, a member of the Board since 2021, has been elected Chairman.
• Mr Sabir Chodiev is replacing Dr Patokh Chodiev.
• Mr Eduard Surlevich is replacing Dr Alexander Machkevitch.
• Representatives of the Government of the Republic of Kazakhstan – Deputy Prime Minister Mr Serik Zhumangarin and Minister of Finance Mr Madi Takiyev – continue in their roles as members of the Board.

The contribution of the Group’s founding shareholders, Dr Alexander Machkevitch and Dr Patokh Chodiev, as well as Mr Alijan Ibragimov, to the work of ERG’s Board of Directors, cannot be overstated. The large-scale business transformation launched in 2014 has enabled ERG to become a global leader, setting new standards for the industry. The Group has created tens of thousands of new jobs in countries in which it operates, implementing a range of social projects to improve the standard of living for local communities.

The newly appointed managers, who have long been involved in the Company’s operations and have extensive experience in the industry, will continue to work in cooperation with the Group’s shareholders towards achieving ERG’s strategic goals and objectives. Their expertise and dedication to the Company’s values will ensure that its course remains consistent and stable as part of the natural evolution of the Group.

Our mission remains unchanged: To be the best at what we do and drive global change, whilst holding true to our values, helping unlock the potential of the Earth and its people and ensure the prosperity of those who rely on us.

We would like to express our gratitude to all our employees, partners and customers for their trust and support. Together we continue to combine tradition with innovation in our efforts towards achieving new milestones.

Shukhrat Ibragimov has been a member of Eurasian Resources Group Board of Directors since 2021 and has now become the Chairman of the Board. Mr. Ibragimov has ten years of experience with ERG Group. He has held various positions, including at the shop floor level, enabling him to gain wide experience in metals and mining and deep expertise across technological processes, finance and strategic development.

While coordinating ERG's business development projects, Mr. Ibragimov was in charge of production planning as well as working with the Group’s international partners. He has been instrumental in the development and launch of a number of the Group's projects in Kazakhstan and globally, also in cooperation with China. These include Metalkol, which has become one of the world's top 3 cobalt producers.

Mr. Ibragimov is a member of the Board of Directors of Eurasia Insurance Company, Kazakhstan’s leading insurance business, and Eurasian Bank, a socio-economically important local financial institution. 

Shukhrat Ibragimov is closely involved in several charitable initiatives, including in his role as the Chair Trustee of “I am part of”, a UK charity focused on providing access to water and hunger relief to people in Africa and Asia. He is also the Chairman of the Asian World Film Festival.

Starting from 2024, Mr Ibragimov is a member of the Foreign Investors' Council under President of Kazakhstan.

Mr. Ibragimov graduated from the European Business School in London and the Beijing Language and Culture University.

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Sabir Chodiev has been working for various companies within the ERG Group since 2008. He has deep and comprehensive knowledge of the company and its key business processes. 

Mr Chodiev was Advisor to the Chairman of the Supervisory Board of ERG and Deputy Head for Risk Management. Since 2021, he has been Deputy Chief Executive Officer of the Group and First Deputy General Director of ERG in Kazakhstan. Mr Chodiev is also currently a member of ERG Group’s Board of Directors.

Sabir Chodiev has extensive expertise in investment and private wealth management, including the real estate and technology sectors.

He is actively involved in philanthropic activities as the director of the International Chodiev Foundation, a non-governmental charity organization that contributes to the preservation of cultural heritage and the transformation of people's lives through educational, charitable and cultural projects in Central Asia (including Kazakhstan), Russia and Japan

Mr. Chodiev is a graduate of the University College London (UCL), Harvard Business School (HBS) and the Financial University under the Government of the Russian Federation. In addition, he also completed a management training program at INSEAD. 

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Eduard Surlevich has a successful track record at ERG, with his core competencies in the natural resources sector, including in sales, marketing and logistics, which are vital for the Group’s international business. Mr Surlevich has excellent knowledge of the ERG product portfolio.

Eduard Surlevich has been Deputy Chief Executive Officer of the Group since early 2023. In this role, Eduard Surlevich assumed key responsibilities for the development of sales and marketing, building new partnerships with trading companies, as well as the development of the Group's business in Africa.

Prior to joining ERG, Mr. Surlevich worked for a leading global commodity trading company in Switzerland, giving him extensive experience in supply chain management, logistics and trade. As a member of the Board of Directors of ERG, Eduard Surlevich will contribute to the further growth of the Group's business.

Mr Surlevich is a graduate of the School of International Business and Business Administration of MGIMO University (Moscow State Institute of International Relations).