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The Government of the Republic of Serbia

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Shareholders’ Agreement signed with MOL Group for future governance of NIS

Belgrade, 16 June 2026

Minister of Mining and Energy Dubravka Đedović Handanović signed today a Shareholders’ Agreement with MOL Group regarding the future governance of oil company Naftna Industrija Srbije (NIS).

The agreement, previously adopted by the Government of Serbia, will enable the continued development of NIS, the supply of the Serbian market and the operation of the Pančevo refinery, should MOL Group successfully become the majority owner.

In addition to the signing of the sale and purchase agreement, the completion of the transaction will also require further regulatory approvals. MOL Group continues negotiations with Gazprom Neft regarding the acquisition of its 56.15% stake in NIS.

Đedović Handanović pointed out that, under this agreement, Serbia will purchase an additional 5% of shares in NIS and that the refinery will operate for at least the next 10 years at the capacity in which it operated for four years prior to the introduction of US sanctions.

The agreement also ensures that there will be no disruptions in the operations of subsidiaries, including petrochemical producer Petrohemija, the Minister explained, adding that Serbian representatives on the Board of Directors will have greater influence over decision-making.

Chairman and CEO of MOL Group Zsolt Hernádi said that the company will do everything it can to ensure that NIS becomes stronger and more profitable.