GUNVOR GROUP INCREASES STAKE IN RÖRVIK TIMBER

Volga Resources Investments SICAV-SIF S.A. (“Volga Resources”) has sold its full stake in Meerwind AB to Gunvor Group Ltd (“Gunvor”). Meerwind AB was a 50/50 joint venture between the two companies. Gunvor now owns 100 percent of Meerwind AB, which holds 79 percent of Rörvik Timber AB, a wood processing operation in southern Sweden.

For inquiries:

Seth Thomas Pietras

Corporate Affairs Director

seth.pietras@gunvortrade.ch

+41 79 870 6290

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