Leadership of Galaxy Group of Companies Summarized 2023

Galaxy Group of Companies, one of Armenia's largest conglomerates, conducted a comprehensive review of the year 2023 in the meeting hall of Matenadaran named after Mashtots. The leadership teams of over 15 affiliated companies convened in this symbolic venue. Uniting under one roof, the corporate family solidified its shared vision to contribute to Armenia's economic advancement. This marks the fifth consecutive year that Galaxy has presented a detailed overview of the past year and outlined upcoming tasks and development strategies for the year ahead, emphasizing noteworthy achievements and valuable lessons.

"The Galaxy family continues to expand both in terms of companies and professionals each year. We successfully achieved all the set plans for this year, actively participating in various socio-educational initiatives. Our transparent work has attracted numerous highly qualified professionals who aspire to apply their expertise across any of our companies. The year-end review is not a conclusion for us but marks the commencement of new endeavors," stated Aram Khachatryan, Co-Founder, and CEO of Galaxy Group of Companies.

Next year marks the 25th anniversary of Galaxy Group of Companies. With 15 distinguished brand names, over 250 esteemed international partners, a workforce of 2,500 employees, and a robust customer base of 1 million active users, the Group stands as one of the leading employers and taxpayers in Armenia. Comprising well-established companies, each a leader in its own field, Galaxy Group is not just a business entity but a culture-changing system. Guided by principles of continuous learning, unity, and daily hard work, it contributes significantly to the business landscape in Armenia.

One of the largest companies in Armenia, proudly carries the torch of corporate social responsibility. Throughout the past year, it had numerous opportunities to extend substantial assistance to fellow Armenians displaced from Nagorno-Karabakh.

"As a business entity and as Armenians, we felt a deep commitment to stand by their side and take steps to assist them. Venturing into the regions, we witnessed the challenging circumstances our compatriots are facing. We encountered individuals who had lost their ancestral homes, their homeland. Having resettled in Armenia, we aspire that our ongoing and future initiatives will relieve their hardships. In response to the Nagorno-Karabakh crisis, we promptly initiated aid efforts, delivering 100 tons of food assistance to 5,000 families scattered across various regions of Armenia," expressed Artyom Khachatryan, Co-Founder and Co-Chairman of Galaxy Group of Companies.

The year-end gathering of the group was graced by the CEOs of all companies. They showcased the accomplishments and identified areas for improvement in their respective companies for the year 2023, and collaboratively discussed future concepts with their colleagues.

"This year, our company has solidified its position in catering to target groups. We successfully brought in new brands, showcasing their diverse offerings, and have built a level of trust that positions us as a reliable and caring company," highlighted Gabriel Avetisyan, CEO of the luxury multi-brand chain Chronograph.

Arsen Mnatsakanyan, the CEO of Time Armenia, Time Georgia, and Time Belarus (operating within Galaxy Group of Companies), shared the achievements of the brand in Armenia, Georgia, and Belarus.

"The recognition of our brand in Armenia, Georgia, and Belarus has reached a qualitatively new level. Time, as a unified Armenian brand, has successfully attracted foreign consumers and achieved competitiveness. This stands as a compelling example of how Armenian businesses can thrive in highly competitive markets and secure a significant position," stated Arsen Mnatsakanyan.

The event highlighted the significant role of corporate social responsibility projects, particularly the assistance extended to compatriots forcibly displaced from Nagorno-Karabakh. A detailed video showcasing the extensive support efforts was presented during the event. Additionally, the premiere of the Christmas song took place, performed by the band "Katil" and the choir of the art school named after Ghazaros Saryan of Yerevan, directed by choir director Grigor Harutyunyan. The film was directed by Arman Suleimanyan, and the song was produced by AxelMondrian & Partners, a reputation management company. Going forward, the song will be featured in all commercial areas of Galaxy Group of Companies.

The organization of the event and the production of the videos were expertly handled by the reputation management company "Axel Mondrian and Partners."

Galaxy Group of Companies, founded by Aram Khachatryan, Gurgen Khachatryan and Artyom Khachatryan, is
an Armenian holding company that represents 15 companies in 3 countries. The company directs efforts and
funds to the implementation of corporate social responsibility programs in Armenia for the development of
thought leadership and intellectual capital in the fields of education, social development and art. In recent
years alone, Galaxy Group of Companies has implemented 64 large-scale CSR projects, which directly benefited
more than 10,000 people.