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Geology is not only a science, but also a lifelong calling for those who discover new horizons every day, working in challenging conditions to build the resource foundation of the country’s economic security. Your dedication, profound knowledge, and perseverance are key to the development of the industry and the strengthening of Ukraine’s energy independence.

I would like to express special gratitude to all employees of NJSC “Nadra Ukrainy” and its subsidiaries operating in western, northern, and central regions of Ukraine. Your daily hard work — in expeditions, at deposits, in production units, and laboratories — delivers tangible results: from geological exploration to the extraction of minerals.

I also want to extend my deepest respect and gratitude to our colleagues who are currently defending Ukraine on the battlefield. Your courage, dedication, and self-sacrifice are a true example of patriotism and strength of spirit. We are proud of you and look forward to your safe return!

On this festive day, I wish you all good health, inexhaustible energy, new discoveries, and professional achievements. May every project be successful and your work be duly recognized. I wish peace and a swift Victory to Ukraine!

Sincerely, Chairman of the Board NJSC “Nadra Ukrainy” Viktor Novikov

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On the sidelines of the forum, Mr. Viktor Novikov held meetings with Ambassador Julie S. Davis, U.S. Chargé d’Affaires ad interim to Ukraine, the Commercial Attaché of the U.S. Embassy, J. Taylor, Head of the Legal Team at the U.S. International Development Finance Corporation, and representatives of the U.S. business community. The Company’s participation in the Second URIF Industrial Day will facilitate the further integration of NJSC «Nadra Ukrainy» into international financial processes and help more effectively present potential investment projects within Ukraine’s overall recovery strategy.

As previously reported, Mr. Viktor Novikov, Chairman of the Board of NJSC «Nadra Ukrainy», discussed the Company’s “reboot” in a recent interview with NADRA.INFO.

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NJSC «Nadra Ukrainy» is focused on increasing contributions to the state budget, supporting the country’s economic resilience, and contributing to the strengthening of national defense.

Mr. Viktor Novikov specifically emphasized that NJSC «Nadra Ukrainy» together with «Nadra Oleska» LLC pays significant attention to supporting the Defense Forces of Ukraine, directing resources to support military units and bolster the state’s defense capabilities. The interview is the first part of an extensive conversation. The second part, which NADRA.INFO will publish soon, will cover the management of the group’s property, promising subsoil plots, infrastructure development, and the Company’s strategic projects. Read the full text of the first part of the interview: https://nadra.info/2026/03/viktor-novikov-we-are-rebooting-the-national-joint-stock-company-carrying-out-the-presidents-instructions/

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PJSC «NJSC «Nadra Ukrainy», together with its affiliated company Nadra Oleska LLC, provides consistent support to the military personnel defending our country against Russian aggression. In a transparent initiative, UAH 5 million was allocated to aid the military through the «Come Back Alive» charitable foundation. This cooperation began in 2025 and will continue permanently to address the requests of combat units as efficiently as possible.

“Supporting those who defend Ukraine with weapons in hand is the most vital task for those working in the rear. It saves lives and brings peace closer. It is important to us that our assistance is not just large-scale, but as effective as possible for those holding the front line; therefore, we focus on the specific needs of our defenders. By providing units with equipment that enhances their combat efficiency, we contribute to the collective resilience and strength of the Ukrainian military,” stated Mr. Viktor Novikov, Chairman of the Board of NJSC «Nadra Ukrainy».

Mr. Oleh Nychayuk, Director of Nadra Oleska LLC, emphasized the importance of technical support: “Today, technological superiority on the battlefield is crucial. By providing modern reconnaissance and communication tools, we are investing in the safety of our warriors and their ability to effectively counter the enemy. Our team is convinced that systematic support for professional units such as «Azov», the 3rd Army Corps, and Territorial Defense units of the AFU is the duty of every responsible business. We continue to work toward our common goal — a robust defense and our victory.”

Technical Assistance Overview To strengthen the capabilities of the «Lyubart» Brigade (1st Corps of the National Guard of Ukraine «Azov»), essential technical aid was provided, including:

28 Unmanned Aerial Vehicles (UAVs);

10 Starlink satellite modems to ensure stable communication in challenging environments;

9 Repeaters to expand the radio communication range;

14 Inverter generators for autonomous equipment power supply;

2 Minibuses for rapid personnel transport.

Additionally, a Nissan Navara pickup truck was delivered to the military unit of the Armed Forces of Ukraine.

Providing defenders with means of communication, reconnaissance, and mobility is a direct investment in the stability of our defense, which is critical for executing combat missions in real-time. Note: In 2025, NJSC «Nadra Ukrainy» generated a net profit that exceeded the combined financial results of the previous ten years by more than two times of the previous ten years of operation.

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Despite the economic instability caused by Russia’s military aggression—specifically the decline in demand for geological services and uncertainty regarding project timelines and scales— PrJSC «NJSC «Nadra Ukrainy» ensured stable operational activity. Through cost optimization and rational resource management, revenues increased 3.5 times compared to the previous year. The Company generated a pre-tax profit of UAH 460 million. Net profit amounted to UAH 382.1 million, which is double the cumulative financial result of NJSC «Nadra Ukrainy» over the preceding ten years of operation.

The total amount of payments to the state in 2025 has already reached UAH 223.3 million, which is twice as much as in 2024. Another above UAH 65 million in income tax will be paid to the state budget in March this year.

Furthermore, in accordance with the decision of the Ukrainian Geological Survey (the governing body of NJSC «Nadra Ukrainy»), the net profit will be allocated for state dividends in the prescribed manner. This amount could reach up to UAH 250 million. We expect that the Ukrainian Geological Survey, when deciding on the distribution of net profit and dividend payments, will also direct a significant portion of the profit toward the further development of the Company’s geological projects, considering that no substantial funds have been allocated for the renewal of the Company’s production and technical facilities over the past 10 years.

“In 2025, NJSC «Nadra Ukrainy» not only ensured growth in financial indicators but also significantly increased contributions to the state. The rise in budget payments and the allocation of dividends to state revenue are our direct contributions to strengthening the country’s economic resilience under martial law. At the same time, we hope that part of the profit will be reinvested into the development of geological projects and the modernization of the Company’s production and technical facilities, creating a foundation for the further expansion of resource potential and the stable operation of the industry,” stated Mr. Viktor Novikov.

NJSC «Nadra Ukrainy» systematically works on improving production efficiency, optimizing costs, and refining planning and accounting processes. The Company maintains constant monitoring of the market, the competitive environment, and pricing policies to sustain competitiveness and achieve strategic goals.

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Mykhailo Kovtoniuk has been appointed Director of Subsidiary enterprise of PrJSC “NJSC “Nadra Ukrainy” “Chernigivnaftogazgeologiya”.

The relevant order was signed by Mr.Viktor Novikov, Chairman of the Board.

Key responsibilities of the new director include ensuring stable and efficient operations, organizing and coordinating geological exploration, research and development activities, and production-related projects in the oil and gas sector. His mandate also covers the rational use of material and technical resources, workforce development, and the implementation of modern management and technological solutions.

“The newly appointed director faces a clear task: to ensure effective management and restore the enterprise’s financial stability. We expect that Mykhailo’s (Mykhailo Kovtoniuk’s) managerial expertise will strengthen operational capacity and contribute to achieving the Company’s strategic goals,” noted Mr. Viktor Novikov, Chairman of the Board of NJSC «Nadra Ukrayny».

According to Mr. Mykhailo Kovtoniuk, his top priorities will be systemic management, process optimization, and professional team development.

“Leading an enterprise with such strong production and scientific potential is a significant responsibility. My goal is to ensure transparent and efficient operations, proper fulfillment of financial obligations, and to create conditions for the stable development of both the staff and the enterprise as a whole,” emphasized Mr. Mykhailo Kovtoniuk.

Mykhailo Anatoliyovych holds a degree in International Business Management from the Kyiv National University of Trade and Economics. Throughout his professional career, he has worked in the private sector, engaged in entrepreneurship, and held senior executive positions at municipal enterprises in Kyiv.

The appointment of the new director is part of NJSC «Nadra Ukrainy» strategy to strengthen the managerial capacity of its subsidiaries and implement modern organizational approaches.

Earlier, NJSC «Nadra Ukrainy» recently held a working meeting with international partners.

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The Chairman of the Board of NJSC «Nadra Ukrainy» Mr. Viktor Novikov, and Baker Hughes Director of New Energy Mr. Jeroen Lakerveld, discussed the current state of cooperation, the application of global technological practices, and summarized participation in the 26th Baker Hughes Annual Meeting 2026. The working meeting was also attended by Baker Hughes representative Mr. Anton Kolesnichenko, First Deputy Chairman of the Board Mr. Dmytro Parobok, Advisor on Diplomatic Issues Mr. Valerii Grebeniuk, and also Director of LLC “Westgasinvest” Kostiantyn Raichenko and First Deputy of LLC ” Westgasinvest” Oleh Nychaiuk.

During the meeting, the parties discussed a range of technical issues and concrete actions to launch pilot projects under existing memoranda of understanding, in which NJSC «Nadra Ukrainy» proposes to leverage existing infrastructure and expertise in the field of subsoil use, while incorporating the best international practices.

Participants also exchanged views on possible formats for involving representatives of Ukrainian businesses to develop joint business models in the field of green energy.

It is worth noting that Mr. Viktor Novikov conducted a working visit to the subsidiary enterprise «Zahidukrgeologiya».

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A working meeting was held at «Zahidukrgeologiya», a subsidiary of NJSC «Nadra Ukrainy», with the participation of Viktor Novikov, Chairman of the Board of NJSC «Nadra Ukrainy». The session was dedicated to reviewing the company’s performance in 2025, discussing development plans for 2026, and defining approaches to strategic partnerships aimed at developing the mineral resource base with the involvement of foreign investors.

Viktor Novikov noted the positive performance of SE «Zahidukrgeologiya» in 2025 and emphasized the importance of maintaining this momentum in 2026:

“SE «Zahidukrgeologiya» demonstrates tangible positive results and a professional approach to fulfilling its objectives. It is important to maintain this pace and strengthen the focus on areas that create long-term value for both the Company and the State”.

Furthermore, V. Novikov highlighted the strategic role of regional mineral resource base development and noted the importance of state support for the industry, which creates opportunities for systematic and predictable resource development. In addition, he stressed the need to enhance internal cooperation within the Company:

“I support the subsidiary’s strategic development priorities for 2026. The next important step is to strengthen integration of NJSC «Nadra Ukrainy» enterprises to implement larger-scale, network-wide projects. The synergy of competencies and resources will enable us to operate as a unified and efficient system”.

In turn, the Director of SE «Zahidukrgeologiya», Mykhailo Lyshak, thanked the Chairman for his consistent support and confirmed the team’s readiness to implement the plans for 2026:

“In 2026, we will focus on priority projects, geological exploration activities, and the preparation of high-quality investment proposals. The support of NJSC «Nadra Ukrainy» allows us to plan systematically and focus on long-term results”.

Following the meeting, further steps were agreed to detail the 2026 work plan, define a list of priority projects, and develop proposals aimed at expanding the mineral resource base, including geothermal initiatives and potential formats for international investment cooperation.

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The implementation of geothermal energy and carbon capture and storage (CCS) projects was discussed during the meeting.

Viktor Novikov, heading the delegation of NJSC «Nadra Ukrainy», participated in a working meeting with the leadership of the international energy technology company Baker Hughes. The meeting took place as part of the Baker Hughes Annual Meeting 2026.

The Chairman of the Board of NJSC «Nadra Ukrainy» presented the Company’s key areas of activity to the participants, as well as the potential for utilizing geothermal energy and creating underground storage facilities for carbon dioxide in Ukraine.

“For us, it is important not only to discuss global trends but also to implement specific technological solutions. Last summer, we launched a partnership with Baker Hughes by signing memoranda of understanding in the fields of geothermal energy and CO₂ capture and storage. Work on their implementation is currently underway,” Viktor Novikov reported. “Geothermal energy and CO₂ storage projects hold significant potential for Ukraine, and international partnership plays a key role in their realization.”

During the meeting, the parties discussed strategic directions for the transformation of the energy sector amidst global changes. The focus was on modern technological solutions that enable the efficient use of geothermal potential, reduction of carbon emissions, and ensure stable energy supply.

“For Ukraine, which has been facing a full-scale war for several years as a result of Russia’s full-scale military invasion launched in February 2022, this issue has acquired existential importance. For us, this is not just a ‘green’ technology, but a tool for energy security and post-war recovery,” emphasized the Chairman of the Board of NJSC «Nadra Ukrainy».

The working meeting with Baker Hughes leadership was an important step in developing practical cooperation and deepening the strategic partnership. It allowed the parties to align their visions regarding the implementation of joint projects, discuss opportunities for adapting advanced technological solutions to Ukrainian conditions, and outline further steps in the field of geothermal energy and CO₂ capture and storage, considering the priorities of energy security and sustainable development.

NJSC «Nadra Ukrainy», together with SE «Zakhidukrgeologiia», continues to actively develop international partnerships in the field of geothermal energy.

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