SHAREHOLDER

The Sole shareholder “Samruk-Kazyna” JSC holds 100 % of “Samruk-Energy” JSC shares (www.sk.kz).

The relationship with the Sole Shareholder involves ensuring protection and respect for its rights and legitimate interests and is based on honesty, accountability, responsibility and transparency.

The Sole Shareholder ensures the management of the Company by setting priorities and strategic directions of business. The rights of the Sole Shareholder are exercised in accordance with the Law of the Republic of Kazakhstan “On joint-stock company” and “Samruk-Energy” JSC Charter.

The rights of shareholders include, but are not limited to timely receipt of information sufficient for making a decision, in the manner prescribed by the legislation of the Republic of Kazakhstan, the charter and internal documents of the Company in the field of information disclosure; voting on issues of their competence; participation in determining the number of members, the term of office of the Board of Directors, election of its members and termination of their powers, as well as determining the amount and terms of payment of remuneration; receiving dividends based on a clear and transparent dividend policy. The Sole Shareholder ensures the management of the Company by setting priorities and strategic directions of business.

Equity holding structure

Pursuant to the decision of the Board of Directors of “SamrukEnergy” JSC dated 09.06.2020, in 2020 “Samruk-Energy” JSC placed 125 shares by exercising the right of pre-emptive purchase by the Sole Shareholder of “Samruk-Energy” JSC in the prescribed manner.

As of December 31, 2020, the number of authorized securities reached 8,602,187 pieces. The number of placed securities is 5,601,812 pieces. The nominal value of one ordinary share as of December 31, 2020 amounted to 10,000 tenge.

The carrying value of one ordinary share as at December 31, 2020 amounted to 86,397 tenge.

Earnings per share was 1,429 tenge.

Dividend policy

The Company has the Dividend Policy of “Samruk-Kazyna” JSC in relation to subsidiaries, approved by the resolution of “Samruk-Kazyna” JSC Management Board dated October 2, 2012 (Minutes No. 39/12). Dividend policy is based on the following principles:

• 1) meeting interests of the Sole Shareholder;
• 2) increase in the long-term value of the Company;
• 3) ensuring the financial stability of the Company;
• 4) providing financing of the Company’s activities, including financing of investment projects implemented by using the Company’s funds;
• 5) transparency of the mechanism for determining the amount of dividends;
• 6) the balance of short-term (income generation) and longterm (development of the Company) interests of the Sole Shareholder.

Dividends are calculated based on the amount of a company’s net income reported in the annual audited financial statements of the Company, compiled in accordance with the requirements of the legislation of the Republic of Kazakhstan on accounting and financial reporting and international financial reporting standards.

The amount of dividends paid in line with Resolutions of the Sole Shareholder