With independent auditor’s report

Total borrowings
14,746
7,053
*** On or before 31 December 2018 the Group did not comply with certain covenants of GTL loans. As a result, the Group recognized
all outstanding amounts under these loan agreements as at 31 December 2018 in the amount of UZS 534 billion as short-term loans.
Subsequent to 31 December 2018, any event of default associated with the above-mentioned non-compliance with covenants under
these loan agreements were waived by the lenders.
In 2020, 2019 and 2018 lenders of the Group comprise of financial institutions.
Changes in liabilities arising from financing activities:
In billions of Uzbek soums
2020
2019
2018
As at 1 January
37,103
21,799
20,851
Proceeds from borrowings
10,459
16,191
3,214
Transfer from trade payables
−
−
4,716
Translation to presentation currency
1,582
1,494
1,691
Finance costs, including capitalized to property, plant and
equipment
1,539
1,530
−
Foreign exchange effect
1,326
2,587
520
Conversion of borrowings
(Note 21)
(15,401)
−
−
Repayment of borrowings
(1,228)
(3,377)
(4,137)
Interest paid
(1,214)
(1,909)
(232)
Discontinued operations
(Note 6)
−
−
(4,716)
Transfer to liabilities, related to assets held for distribution to the
shareholder
−
(229)
−
Offset with trade receivables
−
(518)
−
Other
9
(465)
(108)
As at 31 December
34,175
37,103
21,799
51,536,810 of common shares of JSC “Uztransgaz” (approximately 8.3% of total common shares), owned by
the Group, were pledged as collaterals for borrowings as of 31 December 2019 and 2018.

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