Management Board

members

comprise the Management Board

The Management Board is the collective executive body of the Company. It acts on behalf of the Company, including representing its interests and entering into transactions in accordance with the legislation of the Republic of Kazakhstan and the Company’s Charter. The Management Board approves the staffing of the Company, excluding the employees of the Central Office, and makes decisions that are mandatory for all employees of the Company.

The Management Board is responsible for overseeing the current operations of Kazakhtelecom JSC and is authorised to make decisions on any matters not reserved by the legislation of the Republic of Kazakhstan or the Company’s Charter to other governing bodies or officials.

The Management Board consists of seven members, including the Chairperson of the Management Board and other individuals elected by the Board of Directors.

In 2024, the following individuals were elected to the Management Board: First Deputy Chairperson of the Management Board Arnur Nurkatov, Chief Financial Officer Lyazzat Baskanbayeva, Chief Administrative Officer Erzhan Meiramov, and Chief Executive Officer of the Retail Business Division Igor Pogrebitsky.

Composition of the Management Board

GRI 2-11

Bagdat Batyrbekovich Mussin

Member of the Board of Directors, Chairperson of the Management Board of Kazakhtelecom JSC

Date of Birth: 3 March 1983

Citizenship: Republic of Kazakhstan

Date of initial appointment to the Management Board of Kazakhtelecom JSC: 10 June 2024

Date of current appointment: 10 June 2024

Ownership of shares in the Company, its suppliers or competitors: None

Education: Higher

2000 — 2004 — Suleyman Demirel University, major in Software and Hardware of Computer Technologies;
2004 — 2006 — Kazakh Institute of Law and International Relations, major in Jurisprudence.

Place of work and positions held in organisations over the last five years:

2014 — 2016 — Chairperson of the Management Board, Kazpost JSC;
2017 — 2018 — Chairperson of the Committee on Legal Statistics and Special Records of the General Prosecutor’s Office of the Republic of Kazakhstan;
2018 — 2019 — Deputy Chairperson of the Management Board for Innovation, BI Group Holding;
2019 — 2020 — Entrepreneur, IT specialist;
03.2020 — 07.2020 — Advisor to the President of the Republic of Kazakhstan on Digitalisation and Innovative Technologies;
07.2020 — 09.2020 — Vice Minister of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan;
02.09.2020 — 30.04.2024 — Minister of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan;
Since 10.06.2024 — Chairperson of the Management Board of Kazakhtelecom JSC, Member of the Board of Directors.

Concurrent positions and membership in boards of directors of other organisations: None

Arnur Arystanovich Nurkatov

Member of the Management Board, First Deputy Chairperson of the Management Board of Kazakhtelecom JSC

Date of Birth: 20 October 1967

Citizenship: Republic of Kazakhstan

Date of appointment to the Management Board of Kazakhtelecom JSC: 18 July 2024

Ownership of shares in the Company, its suppliers or competitors: None

Education: Higher

1990 — Almaty Institute of National Economy, major in Accounting and Analysis of Economic Activities;
2009 — Moscow Institute of Professional Accountants and Auditors, ACCA programme;
2009 — Financial Academy under the Government of the Russian Federation;
2014 — Stockholm School of Economics;
2019 — Institute of Regional Economic Problems of the Russian Academy of Sciences;
2021 — Moscow Financial and Industrial University.

Place of work and positions held in organisations over the last five years:

2015–2024 — General Director, KT Cloud Lab LLP, Almaty;
Since 2024 — First Deputy Chairperson of the Management Board, Member of the Management Board of Kazakhtelecom JSC.

Concurrent positions and membership in boards of directors of other organisations: None

Nurlan Kemalovich Meirmanov

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

Date of Birth: 3 August 1972

Citizenship: Republic of Kazakhstan

Date of appointment to the Management Board of Kazakhtelecom JSC: 2 May 2019

Ownership of shares in the Company, its suppliers or competitors: None

Education: Higher

1989 — 1995 — Kazakh Chemical-Technological Institute, major in Basic Processes of Chemical Production and Chemical Cybernetics;
2008 — International Academy of Business, Doctor of Business Administration;
2011 — Russian Presidential Academy of National Economy and Public Administration, Doctor of Business Administration.

Place of work and positions held in organisations over the last five years:

01.2012 — 05.2019 — Kazakhtelecom JSC, Managing Director for Innovation;
Since 05.2019 — Kazakhtelecom JSC, Chief Innovation Officer.

Concurrent positions and membership in boards of directors of other organisations: Member of the Supervisory Board of NURSAT+ LLP

Lyazzat Budenovna Baskanbayeva

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

Date of Birth: 5 August 1971

Citizenship: Republic of Kazakhstan

Date of appointment to the Management Board of Kazakhtelecom JSC: 18 July 2024

Ownership of shares in the Company, its suppliers or competitors: None

Education: Higher

1993 — Zhambyl State Pedagogical Institute;
1996 — Taraz State University;
2010 — International Academy of Business.

Place of work and positions held in organisations over the last five years:

2016 — 2022 — Director of the Management Accounting and Reporting Department, Kazakhtelecom JSC, Astana;
2022 — 2024 — Chief Financial Officer, Corporate Business Division, Kazakhtelecom JSC, Astana;
Since 2024 — Chief Financial Officer, Member of the Management Board.

Concurrent positions and membership in boards of directors of other organisations: None

Yerzhan Bolatovich Meiramov

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

Date of Birth: 2 March 1971

Citizenship: Republic of Kazakhstan

Date of appointment to the Management Board of Kazakhtelecom JSC: 5 August 2024

Ownership of shares in the Company, its suppliers or competitors: None

Education: Higher

1999 — 2003 — Kazakh Humanitarian Law University named after M.S. Narikbayev, major in Law;
2003 — 2005 — Kazakh Economic University named after T. Ryskulov, major in Finance and Credit;
2012 — 2013 — King’s College London, major in Public Policy, Master of Public Administration.

Place of work and positions held in organisations over the last five years:

2019 — 2021 — Director of the Legal Affairs and Government Relations Department, Kcell JSC;
2021 — 2024 — Chairman of the Telecommunications Committee of the Ministry of Digital Development and Aerospace Industry of the Republic of Kazakhstan;
Since 2024 — Chief Administrative Officer, Member of the Management Board.

Concurrent positions and membership in boards of directors of other organisations: None

Alibek Beibitovich Indykbayev

Member of the Management Board, General Director of the Corporate Business Division of Kazakhtelecom JSC

Date of Birth: 30 July 1988

Citizenship: Republic of Kazakhstan

Date of appointment to the Management Board of Kazakhtelecom JSC: 03 July 2023

Ownership of shares in the Company, its suppliers or competitors: None

Education: Higher

2018 — Kazakh Academy of Transport and Communications named after M. Tynyshpayev, major in Radio Engineering, Electronics and Telecommunications;
2008 — Turan University, major in Finance.

Place of work and positions held in organisations over the last five years:

07.2021 — 10.2022 — Chairman of the Management Board, Q Telecom JSC;
10.2022 — 04.2023 — Chairman of the Board of Directors, Q Telecom JSC;
Since 05.2023 — General Director of the Corporate Business Division, Kazakhtelecom JSC.

Concurrent positions and membership in boards of directors of other organisations: None

Igor Yevgenyevich Pogrebitsky

Member of the Management Board, General Director of the Retail Business Division of Kazakhtelecom JSC

Date of Birth: 19 May 1978

Citizenship: Republic of Kazakhstan

Date of appointment to the Management Board of Kazakhtelecom JSC: 18 July 2024

Ownership of shares in the Company, its suppliers or competitors: None

Education: Higher

2000 — North Kazakhstan State University, major in Radio Engineering.

Place of work and positions held in organisations over the last five years:

2018 — 2019 — Managing Director of Sales, Retail Business Division, Kazakhtelecom JSC, Almaty;
Since 2019 — General Director of the Retail Business Division, Kazakhtelecom JSC, Almaty; Member of the Management Board.

Concurrent positions and membership in boards of directors of other organisations: None

Activity of the Management Board

For the reporting period, the Management Board of Directors reviewed and made decisions on the following key issues:

Approved — the investment activity lifecycle management policy for the Kazakhtelecom JSC group of companies; the 2023 annual financial statements of Kazakhtelecom JSC; the disposal of a 100% interest in the charter capital of Mobile Telecom-Service LLP; amendments to the Kazakhtelecom JSC Development Strategy for 2023–2032; the draft Corporate Governance Code of Kazakhtelecom JSC; the draft ESG Strategy of Kazakhtelecom JSC for 2024–2032; the ESG Practices Development Roadmap of Kazakhtelecom JSC for 2025–2032; the establishment of the Occupational Safety Directorate, a branch of Kazakhtelecom JSC; the establishment of the Digital Business Division, a branch of Kazakhtelecom JSC; the business plan for the Strategic Integrated Project “FTTH Network Rollout”; and amendments to the Policy on the Engagement of Audit Firms of Kazakhtelecom JSC;

Adopted — the 2024 implementation roadmap for strategic and business initiatives under the JRun programme of Kazakhtelecom JSC; the 2024 Procurement and Cash Budgets of Kazakhtelecom JSC; the 2025–2029 Operating Budget of Kazakhtelecom JSC; the updated Treasury and Cash Management Policy of Kazakhtelecom JSC; the Occupational Health and Safety Policy of Kazakhtelecom JSC; the Corporate Governance Policy for subsidiaries of Kazakhtelecom JSC; and the Regulation on the Management of Subsidiaries of Kazakhtelecom JSC.

Remuneration of the Board

GRI 2-19, 2-20, 2-21

The terms and procedure for the payment of remuneration to the Company’s senior executives for the reporting period are governed by the Rules for the Payment of Performance-Based Remuneration to Senior Executives of Kazakhtelecom JSC, approved by the decision of the Board of Directors dated 14 February 2023 (Minutes No. 2) (the “Rules”).

Key principles of the Rules include:

the link between remuneration and the achievement of objectives that serve the interests of the Company and its shareholders;
simplicity and transparency in determining the amount of remuneration;
dependence of remuneration on both the Company’s performance and the employee’s individual effectiveness.

Key Performance Indicators (KPIs) are used to assess the performance of senior executives.

The performance evaluation procedure for senior executives consists of the following stages:

setting KPIs and their target values;
approval of KPIs;
monitoring of performance;
calculation and approval of actual performance results.

Performance-based remuneration for the reporting period is paid within the funds allocated for this purpose in the Company’s budget, following the formal approval of the financial and economic performance results based on the audited financial statements for the reporting period.

The maximum amount of performance-based remuneration is determined in accordance with the established remuneration structure.

The total amount of salaries and all types of monetary incentives paid to the members of the Management Board in 2024 amounted to KZT 634,562 thousand, net of taxes.

Information transparency

As a public company, the largest player in Kazakhstan’s telecommunications market, and a portfolio company of Samruk-Kazyna JSC, Kazakhtelecom JSC places the utmost importance on openness, transparency, and accountability. The Company builds communication with all key stakeholder audiences—including shareholders, investors, clients (both external and internal), government authorities of the Republic of Kazakhstan, the media, public associations, bloggers, and other interested parties—on the basis of its officially adopted and effective Information Policy (available at: (https://telecom.kz/ru/pages/12089/171752).

The Company’s Information Policy is guided by the following principles:

Reliability;
Timeliness;
Accessibility;
Completeness;
Independence;
Regularity;
Systematic approach;
Proactivity;
Multimedia engagement.

The purpose of the Information Policy is to foster a positive perception of the Company among information recipients, build long-term and loyal relationships with stakeholders, enhance the Company’s information transparency, and establish a clear and consistent information flow between the Company and its target audiences.

According to data from the Youscan media monitoring system, the total number of mentions of the Company, its products, projects, services, and offerings in various domestic, foreign, national, and regional media outlets amounted to 13,462 in 2024.