Sollers : At 30 June 2022

SOLLERS AUTO GROUP

CONSOLIDATED CONDENSED INTERIM FINANCIAL INFORMATION PREPARED UNDER INTERNATIONAL FINANCIAL REPORTING STANDARDS

30 JUNE 2022

(UNAUDITED)

CONTENTS

Consolidated Condensed Interim Statement of Financial Position	1
Consolidated Condensed Interim Statement of Comprehensive Income	2
Consolidated Condensed Interim Statement of Cash Flows	3
Consolidated Condensed Interim Statement of Changes in Equity	4
Notes to the Consolidated Condensed Interim Financial Information
1	The Group and its operations	5
2	Basis of preparation and significant accounting policies	6
3	New standards, interpretations and amendments adopted by the Group	7
4	Balances and transactions with related parties	8
5	Property, plant and equipment and right-of-use assets	9
6	Development costs	9
7	Investments in joint ventures	10
8		Inventories	11
9	Trade and other receivables	11
10	Cash and cash equivalents	12
11	Shareholders' equity	12
12	Trade payables, advances received and other payables	13
13	Short and long-term borrowings	13
14	Sales	14
15	Other operating (expenses) / income and financial income (expenses), net	14
16	Segment information	14
17	Contingencies, commitments and operating risks	15
18	Post balance sheet date events	16

JSC Baker Tilly Rus

Office 57, Premise VII

32 A Khoroshevskoye Shosse

125284 Moscow Russia

T: [phone]

F: [phone] [e-mail]

www.bakertilly.ru

REPORT ON REVIEW OF CONSOLIDATED CONDENSED INTERIM FINANCIAL INFORMATION

To the Shareholders and Board of Directors of "SOLLERS Auto" Public Joint Stock Company

Introduction

We have reviewed the accompanying consolidated condensed interim statement of financial position of SOLLERS Auto PJSC and its subsidiaries (the Group) as of June 30, 2022 and the related consolidated condensed interim statements of comprehensive income, changes in equity and cash flows for the six- month period then ended. Management is responsible for the preparation and presentation of this consolidated condensed interim financial information in accordance with International Accounting Standard 34 "Interim Financial Reporting". Our responsibility is to express a conclusion on this consolidated condensed interim financial information based on our review.

Scope of Review

We conducted our review in accordance with International Standard on Review Engagements 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity." A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

ASSURANCE • TAX • ADVISORY • LEGAL

JSC Baker Tilly Rus is a member of the group of the companies trading in Russia as Baker Tilly. Members of the global network of Baker Tilly International Ltd. are separate and independent legal entities.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying consolidated condensed interim financial information is not prepared, in all material respects, in accordance with International Accounting Standard 34 "Interim Financial Reporting".

Acting on behalf of Baker Tilly Rus JSC on the basis of a power of attorney No. 21-01 dated January 01, 2022,

The engagement partner on the audit resulting in this report on review of consolidated condensed interim financial information

(Main registration number 22006010147) M.S. Bogatyrev

Moscow, Russian Federation

August 29, 2022

The Russian original signed by

M.S. Bogatyrev, Director

JSC "Baker Tilly Rus"

Moscow, Russian Federation

Details of auditor	Details of the audited entity
Name: Baker Tilly Rus JSC	Name: Public Joint-Stock Company SOLLERS Auto
State Registration number: 1027700115409	State Registration number: 1023501244524
Address: Office 57, Premise VII, 32 A Khoroshevskoye	Address: 1, Build. 1,2, Kiyevskoye MZD, 5 km,
Shosse, 125284 Moscow, Russia	Moscow, Russia, 119590
Member of Self-regulatory Organization of Auditors
Association "Sodruzhestvo" (SRO AAS)
Main registration number 12006010438.

Translation note: This version of our report is a translation from the original, which was prepared in Russian. All possible care has been taken to ensure that the translation is an accurate representation of the original. However, in all matters of interpretation of information, views or opinions, the original language version of our report takes precedence over this translation.

SOLLERS Auto Group

Consolidated Condensed Interim Statement of Financial Position at 30 June 2022 (in millions of Russian Roubles)

(amounts translated into US Dollars for convenience purposes, Note 2)

				Supplementary information
		Russian Roubles million	US$ million (Note 2)
			At		At
		At 30 June	31 December	At 30 June	31 December
	Note	2022	2021	2022	2021
ASSETS
Non-current assets
Property, plant and equipment	5	20 057	20 933	392	282
Right of use assets	5	495	539	10	8
Goodwill	-	1 484	1 484	29	20
Development costs	6	3 966	4 962	78	67
Other intangible assets	-	395	1 973	8	26
Deferred income tax assets	-	1 752	998	34	13
Investments in joint ventures	7	1 216	1 503	24	20
Other financial assets	-	69	91	1	1
Other non-current assets	-	1 432	400	28	5
Total non-current assets		30 866	32 883	604	442
Current assets
Inventories	8	11 974	8 609	234	116
Trade and other receivables	9	2 315	14 905	45	201
Other current assets	-	6	-	-	-
Restricted cash	10	424	502	8	7
Cash and cash equivalents	10	10 615	15 343	207	207
Total current assets		25 334	39 359	494	531
TOTAL ASSETS		56 200	72 242	1 098	973
LIABILITIES AND EQUITY
Equity
Share capital	11	509	530	10	7
Treasury shares	11	(412)	(457)	(8)	(6)
Share premium	11	4 538	4 538	89	61
Additional paid-in capital	11	1 438	1 438	28	19
Retained earnings	-	11 021	12 548	215	170
Equity attributable to the Company's
owners		17 094	18 597	334	251
Non-controlling interest	11	9 123	9 133	178	123
Total equity		26 217	27 730	512	374
Non-current liabilities
Long-term borrowings	13	1 190	1 905	23	26
Deferred income tax liabilities	-	148	229	3	3
Long-term lease liabilities	5	415	465	8	6
Long-term payables for fixed assets		154	170	3	2
Deferred income	-	1 636	1 668	32	23
Total non-current liabilities		3 543	4 437	69	60
Current liabilities
Trade accounts payable	12	8 305	20 700	162	279
Advances received and other payables	12	2 467	3 050	48	41
Short-term lease liabilities	5	104	96	2	1
Taxes payable	-	5 002	6 879	98	93
Warranty and other provisions	-	1 381	1 445	27	19
Short-term borrowings	13	9 181	7 905	180	106
Total current liabilities		26 440	40 075	517	539
Total liabilities		29 983	44 512	586	599
TOTAL LIABILITIES AND EQUITY		56 200	72 242	1 098	973

Approved and signed on 29 August 2022
General Director		Deputy General Director
N.A. Sobolev		T.V. Goy

The accompanying notes on page 5 to 14 are an integral part of this consolidated condensed interim financial information.

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