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OR GROUP changed its ticker on the Moscow Exchange

OR GROUP changed its ticker on the Moscow Exchange

OR GROUP (former Obuv Rossii Group; MOEX: ORUP/ hereinafter referred to as the "Company" or "OR PJSC"; jointly with affiliates and associated companies referred to as the "Group") updated its ticker on the Moscow Exchange. The updated ticker of the share issuer is ORUP. The ticker changing is the next stage of the large-scale re-branding program, which the Company has been implementing since November 2020. Previously, the Group renamed the main operating company in early March. OR LLC became the issuer of bonds instead of Obuv Rossii LLC. OR PJSC, the Group's parent company, will also change its name soon.

On 26 November 2020, the Board of Directors of OR PJSC approved the Group's re-branding project. The Company moved beyond the fashion segment and became to present itself as a universal retailer that develops a trading platform, a marketplace and a services ecosystem. To consolidate the new positioning in the perception of the business and investment community, the Company removed the word "obuv" from the name of the Group and issuer of bonds, and also changed the OBUV ticker which associated with the shoe market.

"Our strategy for the coming years involves the active development of new areas, marketplace, online trading and additional services. We entered new prospective markets, so we expect growth in business volumes and financial indicators, which would have a positive impact on the Company's value, - says Anton Titov, Director of OR GROUP, - The preliminary operating results in February confirmed the correctness of the chosen strategy: the Company's GMV grew by 22%, the online sales share in the revenue of the trading platform reached 28.6%."

According to data provided by AKIT (Online Retailer Association), the volume of the Russian e-commerce market grew by 58.5% and amounted to more than 3.2 trillion rubles1 in 2020. AKIT's forecasts show that the market share will exceed 3.7 trillion rubles in 2021. E-commerce is rapidly penetrating the regions, and the market will grow primarily due to the inclusion of an increasing number of small towns and settlements and the involvement of an older audience in online purchases in the future.

"Our Company, which has a wide presence in towns and cooperates with more conservative customers, will be one of the beneficiaries of the Russian e-commerce market growth," - says Anton Titov.

1 The e-commerce market in Russia. The results of 2020.

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