New BELUGA GROUP CEO

The Board of Directors appointed Konstantin Prokhorov as the new CEO of BELUGA GROUP, effective December 8. Konstantin will succeed Alexander Mechetin, the founder of the company, who has been at the helm of BELUGA GROUP for over 20 years.

Mr. Mechetin decided to leave the executive positions he held in the group and gave up ownership of almost 19% of BELUGA GROUP shares (from 58% to 39.38%), thus ceasing to be a majority shareholder.

Konstantin Prokhorov is currently the Deputy Chairman of the Board, a member of the Board of Directors, and the Director General of the WineLab retail chain, part of the BELUGA GROUP, responsible for the former's development and operations. Owing to its ever-growing profitability, WineLab has become a self-sufficient enterprise and an integral part of BELUGA GROUP.

The Board of Directors and all employees would like to express their gratitude to Alexander Mechetin for his outstanding management and contribution to the group's success, which is now featured in the country's rankings of the largest companies, heading the Russian alcohol market. His leadership saw the group grow from a local vodka producer to a major player in the industry, featuring a wide portfolio of brands in all alcoholic beverage segments. On top of that, Alexander built a unique team of experts, with most of the senior managers having been with the company since its founding.

The Board of Directors believes that team led by Konstantin Prokhorov will further strengthen the group's market positions and foster the company's growth in the Russian market. Konstantin has been with the company for over 20 years, with 15 of them being in senior positions. He is a highly effective and experienced manager, with the necessary knowledge of operational processes and a deep understanding of industry and BELUGA GROUP specifics. His skills and expertise will be instrumental in reaching the group's ambitious goals and driving its further success.