EEII AG publishes annual results 2021

Ad-Hoc announcement pursuant to Art. 53 Listing Rules:

Zug, 29. April 2022

EEII AG publishes the annual result 2021

EEII reports a profit of CHF 2'383'589 for the year 2021 (2020: loss of CHF 2'909'222). The business result was principally due to the strong increase in the Gazprom ADR price. This only remaining investment of EEII AG increased in value by CHF 2'602'708 in the reporting period.
On the cost side, the figures were in line with the previous year, with a slight increase of 5.4 % to CHF 416'808 (2020: CHF 395,571) mainly due to the efforts of the Company connected with the finding of a new anchor shareholder. The net asset value of the shares (NAV) increased to CHF 4.62, which corresponds to an increase of 51 % compared to the previous year (2020: CHF 3.06).

As published in September 2021, the planned acquisition of the majority of shares by Nacala Worldwide Ltd failed despite various contract extensions that had been granted to the acquirer. Subsequently, the Board of Directors initiated a review of the various options for EEII, in close consultation with the main shareholder.

The excellent performance of the Gazprom ADR price in the wake of rising energy prices opened up encouraging expectations for 2022. However, with Russia's attack on Ukraine on February 24, 2022, the starting position for EEII has now changed abruptly. Not only did the value of the Gazprom shares collapse within a few days to USD 0.58, but shortly thereafter Gazprom's ADR trading on the London Stock Exchange was halted altogether (on March 2, 2022).

At the present time, the Company is confronted with a situation in which the only portfolio investment is no longer tradable until further notice. It is impossible to foresee when trading will resume and at what level the Gazprom shares will then be valued by the markets. Furthermore, the political situation - the persisting invasion of Ukraine by Russia, the West's sanctions against Russia coupled with Russia's reaction including threats of war made against the West, and the resulting instability of the whole
region - has fundamentally challenged EEII's investment case (investments in the energy and infrastructure sectors in particular on the territory of the Former Soviet Union). Against this background, the Board of Directors is reviewing all strategic options.

The complete annual report 2021 and further information is available for download on the website www.eeii.ch; a copy will be sent to shareholders in writing upon request.

The Annual General Meeting of EEII will be held on June 22, 2022, 11:00 a.m., at the Company's registered office. The following link will refer to the invitation to the general meeting: www.eeii.ch

Further information:
Marcus H. Bühler, CEO (Tel: +41-44-552 43 43).

EEII is listed on aSwiss Exchange (SIX) (Bloomberg: EEII SW Equity).