Corporate governance report

The basis of the Company’s corporate governance is an effective management structure that respects the rights and interests of all those interested in the Company’s activities and contributes to its success, including the growth of its reputation and maintenance of financial stability and profitability.

The main principles of corporate governance are sustainable development, shareholders’ rights and fair treatment of shareholders, effectiveness of the Board of Directors, transparency. Compliance with these principles and provisions of the Code of corporate governance is highlighted annually in the report for the Board of directors, prepared by the Corporate secretary.

The system of corporate governance of Kazakhtelecom JSC is a set of processes ensuring management and control over the joint stock company’s activity as well as the system of relationships between the executive body, Board of directors, shareholders, and stakeholders. Competence of the bodies and procedure of making decisions are determined and enshrined in the Charter of Kazakhtelecom JSC.

The analysis by the results of 2022 showed that Kazakhtelecom JSC’s activity and its corporate practice ensure compliance with the principles and provisions of the Corporate Governance Code.

Management bodies:

• the supreme body — the General Shareholders Meetings;
• management body — the Board of Directors;
• executive body — the Management Board.

The Management Board is subordinate and accountable to the Board of Directors, which, in turn, is responsible to the General Shareholders Meeting. The detailed role and functions of each body of the Company are described in the law “On joint-stock companies”, the Charter and other internal documents of the Company.

The Internal Audit Service is a body that monitors the financial and economic activities of the Company, evaluates internal control, risk management and execution of documents in the field of corporate governance, as well as consulting to improve the activities of the joint stock company.