Group completes the follow-on payment into AliExpress Russia JV

Download Group Limited (LSE, MOEX: MAIL, hereinafter referred as “the Company”), one of the largest Internet companies in the Russian-speaking Internet market, announces transfer of $82 million cash contribution, according to the pre-agreed terms of the AliExpress Russia JV (AER JV), which was finalized in October 2019.

As announced on June 5th 2019 contribution into the AliExpress Russia JV from Group was to include its Pandao e-commerce business as well as cash investments of $182 million, with $100 million contribution at closing and the rest of the amount due within the next 12 months following the completion of the JV transaction. Contribution by Group has been made in exchange for a 15.0% stake in the AliExpress Russia JV, which remains unchanged.

For further information please contact:

Tatiana Volochkovich
Phone: +7 495 725 6357 extension: 3434
Mobile: +7 905 594 6604

Sergei Luchin
Mobile: +7 915 223 35 71