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SOLLERS PJSC ANNOUNCES COMPANY RENAMING

SOLLERS is announcing a company renaming to SOLLERS Auto. The decision to rename the company was made by a general shareholders meeting.

The reason behind the decision is that the parent company, SOLLERS GROUP (formerly Erfix LLC), headed by Vadim Shvetsov, has begun developing new lines of businesses related not only to carmaking, but also to various mobility services.

Sollers Auto will remain a public joint-stock company, embracing the group's key carmaking and distribution assets: Ulyanovsk Automobile Plant, Zavolzhsky Engine Plant, Sollers Ford, and Mazda Sollers. Other subsidiaries of SOLLERS Auto will include SOLLERS Transport Solutions (a car rental and subscription services operator), SOLLERS Engineering (an engineering center), and SOLLERS Car Fleet (a leasing company).

"Our strategy in the automotive industry has served as a good launch pad and starting point for the development of new approaches and new independent businesses in logistics, mobility services, and in digital products and technologies.  Although we are implementing our business models and entering new markets and client audiences, in the minds of our partners, customers, and the authorities many of our new initiatives are still associated with the recognizable SOLLERS brand.  That is why we've decided to position the entirety of our new lines of business (represented by such companies as LORUS, Pacific Logistic, PROF-IT GROUP, Conscious Machines, Sollers-Technology, etc.) under the umbrella of the SOLLERS GROUP brand, while renaming our core business, represented by PJSC SOLLERS, as PJSC SOLLERS Auto, thus emphasizing our holding firm's commitment to carmaking," explained the General Director of SOLLERS GROUP LLC and Chairman of SOLLERS Auto PJSC Board of Directors, Vadim Shvetsov.


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