Management Board

4

people are members of the Management Board

The activity of the Management Board is based on the principle of maximum compliance with the interests of Shareholders and full accountability to the decisions of the General Shareholders Meeting and the Board of Directors.

The Management Board consists of 4 members — the Chairman of the Management Board and other persons elected by the Board of Directors.

In 2022, the following were elected to the Management Board of the Company:

• Bitabarov Berik Abdimazhitovich, Chief Director for Operational Efficiency of Kazakhtelecom JSC;
• Atamuratova Lyudmila Viktorovna, Chief Financial Officer of Kazakhtelecom JSC.

Yessekeyev Kuanyshbek Bakytbekovich

Member of the Board of directors, Chairman of the Board of Kazakhtelecom JSC

Birth Date: June 10, 1975

Citizenship: Republic of Kazakhstan

Date of the first election to the Management Board of Kazakhtelecom JSC: March 15, 2010

Date of the current election to the Management Board of Kazakhtelecom JSC: March 16, 2022

Ownership of the Company’s shares, shares of suppliers and competitors: No

Education: higher

• 1991–1995 — Kazakh State University named after Al-Farabi. Specialty: Applied maths, degree: candidate of maths;
• 2001–2002 — Kazakh State Academy of Management. Specialty: Management;
• 2015–2017 — Hult Business School, London, GB; Specialty: Finance; Degree: Executive MBA.

Place of work and positions held in organizations over the past five years

• 23.02.2007—15.03.2010 — Information and Communications Agency of the Republic of Kazakhstan — Chairman;
• 15.03.2010 — present: Kazakhtelecom JSC — Chairman of the Management Board, Member of the Board of Directors.

Part-time work and membership in the Boards of Directors of other organizations

• Member of the Board of Directors of Kcell JSC, Member of the Supervisory Board of QazCloud LLP, Chairman of the Supervisory Board of Digital Economy Development Center LLP.

Meirmanov Nurlan Kemalovich

Member of the Management Board of Kazakhtelecom JSC, Chief Innovation Officer of Kazakhtelecom JSC

Birth Date: August 3, 1972

Citizenship: Republic of Kazakhstan

Date of the first election to the Management Board of Kazakhtelecom JSC: May 2, 2019

Ownership of the Company’s shares, shares of suppliers and competitors: No

Education: higher

• 1989–1995 — Kazakh Chemical Technology Institute, specialization: “Main processes of chemical production and chemical cybernetics”;
• 2008–2011 — Russian Presidential Academy of National Economy and Public Administration, major: Doctor of Business Administration;
• 2011 — International Business Academy, major: Doctor of Business Administration.

Place of work and positions held in organizations over the past five years

• 01.2012–05.2019 — Kazakhtelecom JSC — Managing Director for Innovations;
• 05.2019 — present: Kazakhtelecom JSC — Chief Innovation Officer.

Part-time work and membership in the Boards of Directors of other organizations

• Member of the Supervisory Board of NURSAT+ LLP.

Atamuratova Lyudmila Viktorovna

Member of the Management Board of Kazakhtelecom JSC, Chief Financial Officer of Kazakhtelecom JSC

Birth Date: March 1, 1980

Citizenship: Republic of Kazakhstan

Date of the first election to the Management Board of Kazakhtelecom JSC: June 1, 2022

Ownership of the Company’s shares, shares of suppliers and competitors: No

Education: higher

• 1997-2002 — South Ural State University (Russian Federation, Chelyabinsk), Faculty of Finance and Economics (diploma with honors). Qualification “Manager”. Specialized in Project Management;
• 1999-2001 — South Ural State (Russian Federation, Chelyabinsk), Language Center. Qualification “Translator and Teacher of English”. Specialty “Theoretical and applied linguistics”.

Place of work and positions held in organizations over the past five years

• 10.1999 — present — Kazakhtelecom JSC, Specialist, Manager, Chief Manager, Director of Project Financing Department, Chief Financial Director.

Part-time work and membership in the Boards of Directors of other organizations

• No

Bitabarov Berik Abdimazhitovich

Member of the Management Board of Kazakhtelecom JSC, Chief Operating Efficiency Director of Kazakhtelecom JSC

Birth Date: September 18, 1977

Citizenship: Republic of Kazakhstan

Date of the first election to the Management Board of Kazakhtelecom JSC: May 1, 2022

Ownership of the Company’s shares, shares of suppliers and competitors: No

Education: higher

• 1994-1999 — Almaty State University named after Abay. Abay. Specialty: Specialist in International Relations;
• 2021 — London School of Business, Great Britain. Degree: Executive MBA.

Place of work and positions held in organizations over the past five years

• 05.2015 — till present — Kazakhtelecom JSC, Managing Director — Director of Personnel Management and Development Department; Managing Director for Personnel; Managing Director for Personnel, Health and Safety; Chief Director for Personnel; Chief Director for Operational Efficiency.

Part-time work and membership in the Boards of Directors of other organizations

• No

The Management Board of Kazakhtelecom JSC manages the day-to-day activity of the organization, ensuring its compliance with the strategy, the Development Plan and the decisions adopted by the General Shareholders Meeting and the Board of Directors.

The Management Board shall meet in person once a week and shall appoint additional meetings as necessary.

In 2022, the number of members of the Management Board was reduced from 9 (nine) to 5 (five) and re-elected:

• Atamuratova Lyudmila Viktorovna (Chief Financial Officer);
• Bitabarov Berik Abdimazhitovich (Chief Operating Officer).

During the reporting period, the Management Board reviewed and made decisions on the following main issues:

• considered and approved — Annual financial statements of Kazakhtelecom JSC for 2021, Annual financial statements of subsidiaries and associates of Kazakhtelecom JSC for 2021, order of distribution of net income of Kazakhtelecom JSC for 2021, parameters of investment activity of Kazakhtelecom JSC for 2023, Regulation on Commercial Secrecy of Kazakhtelecom JSC in new version, Rules for internal control over disposal and use of insider information of Kazakhtelecom JSC in new version, Development Strategy of Kazakhtelecom JSC for 2023-2032, Low-carbon development program of Kazakhtelecom JSC for 2022-2030;
• approved the Procurement Budget and Cash Budget of Kazakhtelecom JSC for 2022, the Road Map for implementation of strategic and business initiatives of Kazakhtelecom JSC — SERPIN programs and financial effects from implementation of Road Map projects, Rules for disposal and write-off of vehicles and special equipment of Kazakhtelecom JSC, etc.

224,992.9

thousand KZT the total amount of salaries and all types of monetary incentives paid to members of the Management Board of the Company for 2022

The conditions and procedure for payment of remuneration to the Company’s executives for the reporting period are governed by the Rules for payment of remuneration to Kazakhtelecom JSC executives for the reporting period, approved by the decision of the Board of Directors as of 14.02.2023, Minutes No. 2 (hereinafter the Rules).

Key principles of the Rules:

• interaction of remuneration with the performance of tasks that meet the interests of the Company and its shareholders;
• simplicity and transparency of the principles for determining the amount of remuneration;
• the dependence of remuneration on the Company’s performance results and the employee’s personal performance.

The conditions for the payment of performance-related benefits for the reporting period to management personnel are:

• the existence of consolidated final profit for the reporting period, calculated taking into account the planned amount for payment of remuneration;
• compliance by the Enterprise with the internal document of Samruk-Kazyna JSC on credit risk management for counterparty banks. The decision on payment in such cases shall be taken by the Board of Directors on an individual basis.

Motivational KPI are used to assess the performance of executives.

The performance assessment process for executives consists of the following stages:

• setting motivational KPI and its target values;
• approval of incentive KPI;
• performance monitoring;
• calculation and approval of actual performance.

Based on the results of work for the reporting period, remuneration shall be paid within the limits of monetary funds stipulated for these purposes in the Company’s budget, after duly approving the results of financial and business activity based on the audited financial statements for the reporting period.

Maximum remuneration based on the results of work for the reporting period is determined in accordance with the remuneration structure.

The total amount of salaries and all types of monetary incentives paid to members of the Management Board of the Company for 2022 equaled KZT 224,992.9 thousand.