• Ongoing delays in obtaining required Russian government approvals for sale
• Lack of funding and clarity on future ownership impacting Russian operations
• Company exploring other potential options for Russian assets

Tigers Realm Coal (ASX: TIG) has provided an update on the status of the sale of its Russian subsidiaries and mining/port operations. The company entered into a Share Purchase Agreement (SPA) in April 2024 to dispose of its Russian assets, but the full approval process required from the Russian state has been significantly delayed and is still ongoing. This lack of clarity on the future ownership position has limited the Russian operating entities' access to required financing, increasing the risk of their ability to resume operations during 2026. Given the substantial delays and continued uncertainty, the company is also exploring other potential options for its Russian assets. The Russian operations will continue to be considered as assets held for sale, and the company is dealing with the Australian Sanctions Regime while having limited communication and information flow from the Russian management group.