The meeting of the Board of Directors of KEGOC was attended by:

1.   Yernat Berdigulov, Chairman of the Board of Directors of KEGOC, Representative of Samruk-Kazyna.

2.   Nurlan Akhanzaripov, member of the Board of Directors of KEGOC, Senior independent director.

3.   Marat Dulkairov, member of the Board of Directors of KEGOC, independent director.

4.   Damir Suyentayev, member of the Board of Directors of KEGOC, independent director.

5.   Kanysh Moldabayev, member of the Board of Directors of KEGOC, representative of Samruk-Kazyna.

6.   Miras Kiyakov, member of the Board of Directors of KEGOC, representative of Samruk-Kazyna.

7.   Nabi Aitzhanov, member of the Board of Directors of KEGOC, chairman of the Management Board of KEGOC.

The meeting of the Board of Directors on December 19 2024, 4 (four) issues were considered, the information on which shall be communicated to the shareholders and investors in accordance with the List of issues on the decisions taken by the Board of Directors of KEGOC approved by the decision of the Board of Directors dated 13 July 2017 (Minutes No. 6).

1. Conclusion of a major transaction between KEGOC and the European Bank for Reconstruction and Development.

The Board of Directors has adopted the following resolution:

1. Conclude a major deal between KEGOC and the European Bank for Reconstruction and Development by signing a loan agreement on the following basic terms:

• loan amount – up to KZT 133,330,000,000 (EBRD loan) and up to EUR 15,000,000 (loan from the EBRD Fund (HIPCA));
• the currency of the loan is KZT and Euro;
• maturity date is November 20, 2044;
• interest rate per annum (loan in KZT) – TONIA mixed rate plus margin – 2.00% per annum and spread earned on liabilities (in KZT) - 0.75% per annum;
• annual interest rate (loan in Euros) – 0.5% per annum;
• repayment of the principal debt – 34 equal semi-annual payments, starting from May 20, 2028.

2. To the Chairman of the Management Board of KEGOC (Aitzhanov N.E.) to take the measures necessary for the implementation of this decision. 

FOR: seven;

AGAINST: none;

ABSTAINED: none.

2. Approval of changes to the organizational structure of the Executive Administration of KEGOC.

The Board of Directors has adopted the following resolution:

1. To approve and put into effect from January 13, 2025, changes to the organizational structure of the Executive Directorate of KEGOC, approved by the decision of the Board of Directors dated January 31, 2024 (Minutes No. 1), in accordance with the appendix to this decision.

2. The Chairman of the Management Board of KEGOC (Nabi Aitzhanov) shall take the necessary measures arising from this decision, including compliance with the labour legislation of the Republic of Kazakhstan in respect of employees whose working conditions change.

FOR: seven;

AGAINST: none;

ABSTAINED: none. 

3. On granting consent to a member of the Board of Directors of KEGOC to work as an independent director of the Board of Directors of NC KazTransOil JSC.

The Board of Directors resolved to approve Nurlan Akhanzaripov, a member of the Board of Directors, Senior Independent Director of KEGOC, for election as a member of the Board of Directors of NC KazTransOil JSC from the date of his appointment..

FOR: six;

AGAINST: none;

ABSTAINED: none.

4. On approval of the participation of KEGOC in the establishment of a legal entity in the Republic of Azerbaijan within the framework of the project on the development and transfer of «green» energy between the Republic of Azerbaijan, the Republic of Kazakhstan and the Republic of Uzbekistan.

The Board of Directors has adopted the following resolution:

1. To approve the participation of KEGOC in the establishment of a legal entity in the Republic of Azerbaijan within the framework of the project on the development and transfer of "green" energy between the Republic of Azerbaijan, the Republic of Kazakhstan and the Republic of Uzbekistan.

2. Paragraph 1 of this decision shall enter into force upon approval by the Administration of the President of the Republic of Kazakhstan for the participation of KEGOC in the establishment of a legal entity in the Republic of Azerbaijan, approval from the Asian Development Bank, the Development Bank of Kazakhstan and the European Bank for Reconstruction and Development, as well as approval by the Investment and Strategic Committee of Samruk-Kazyna JSC.

3. Chairman of the Management Board of KEGOC (Nabi Aitzhanov) to take the necessary measures resulting from this decision.

FOR: seven;

AGAINST: none;

ABSTAINED: none.