CONCLUSION OF INDEPENDENT AUDITOR

Date: 25.03.2022                                                                                       To the shareholders of

                                                                                                                    JSS «МАХАМ CHIRCHIQ»

Opinion.

We, Mavlonov D. - chief auditor of the limited liability company "TTT-AUDIT" audit organization (Auditor qualification certificate No. 05105 issued by the Ministry of Finance on April 20, 2018), have audited the accompanying financial reports, which consist of a report of changes and a report of cash flows, as well as a summary of significant accounting policies and other explanatory information from the status report during the year ended on the specified date from the report "On the financial state", from the report "On comprehensive income" compiled for the year ended on the specified date from the report "On changes in Equity Capital" of the joint-stock company "MAXAM CHIRCHIQ" from January 01 to December 31, 2021.

Basis for opinion.

We conducted the audit in accordance with International Auditing Standards. Our responsibilities under these standards are described in the section titled “Auditor's Responsibilities for the Audit of Financial Reports”. We are considered independent in accordance with the Code of Ethics developed for professional accountants by the International Council on Ethical Standards for Accountants and the ethical requirements for the audit of the financial reports of the joint-stock company "MAXAM CHIRCHIQ" in relation to the audited organization, and we have fulfilled these requirements and other obligations related to the Code of Ethics. We believe that the audit evidence obtained during the audit is sufficient to provide a basis for our opinion.

Management's responsibility for financial reports.

The Company's management is responsible for the preparation and fair presentation of these financial reports in accordance with International Financial Reporting Standards, as well as for ensuring that the Company's management is free from material misreport, whether due to fraud or error, and for ensuring such internal control as is deemed necessary for the preparation of the financial reports.

Auditor's responsibility.

Our responsibility is to express an opinion on these financial reports based on our audit. We conducted the audit in accordance with International Auditing Standards. These standards require us to comply with ethical requirements and to plan and perform the audit in a manner that provides reasonable assurance about whether the financial reports are free from material misreport.

An audit involves performing procedures to obtain audit evidence about the amounts recognized in the financial reports and the information to be disclosed. The procedures selected depend on the assessment made based on the auditor's judgment, including the risks of material misreport that could arise in the financial reports, whether due to fraud or error.

Assessing such risks, not for the purpose of expressing an opinion on the effectiveness of the company's internal control system, but for the purpose of developing audit procedures appropriate to the situation, the auditor considers the internal control system related to the preparation and truthful presentation of the financial reports of the business entity.

It includes an assessment of the acceptability of the accounting policy used in the audit and the reasonableness of the estimates calculated by the management of the business entity, as well as an assessment of the overall presentation of the financial reports.

We believe that the audit evidence we have obtained is sufficiently relevant to provide a basis for our audit opinion.

Report on other requirements of legislation and regulatory bodies.

The form and content of this part of the auditor's report varies depending on the nature of the auditor's other duties for presenting reports.

In our opinion, the financial reports present fairly, in all material respects, the financial position of the joint-stock company "MAXAM-CHIRCHIQ" as of December 31, 2021, its financial results and cash flows for the year ended on the specified date, in accordance with international standards of financial reporting.

Chief auditor of the audit organization

 “TTT-AUDIT” in the form of LLC                                               M.K. Botirov

Chief auditor                                                                                     D. Mavlanov

Auditor qualification certificate #-05052

issued by the Ministry of Finance

on August 25, 2017