Remuneration

According to the Company’s Charter, the Sole Shareholder’s decision determines the amount and procedure for paying remuneration to members of the Board of Directors. The amount, procedure, and conditions for paying remuneration to the Chairman and members of the Management Board are determined in accordance with the Rules for assessing the performance and remuneration of executive and managerial employees of Samruk-Energy JSC.

Remuneration to members of the Board of Directors

The Independent Directors receive an annual fixed remuneration for performing their duties as a member of the Board of Directors of Samruk-Energy JSC.

The Company indemnifies An Independent Director for expenses (travel, accommodation, daily allowance) related to attending meetings of the Samruk-Energy JSC Board of Directors and its Committees held outside their permanent residence.

Remuneration to members of the Management Board

The Company pays remuneration to the Management Board on the terms and in accordance with the Rules for assessing the performance and remuneration of executive and managerial employees of Samruk-Energy JSC.

The principles for evaluation are based on:

• interrelation of remuneration and execution of tasks that meets the interests of the Company and its Shareholder;
• simplicity and transparency of the principles for determining remuneration;
• dependence of the remuneration amount on the performance of the Company and its employees.

The Board of Directors evaluates the head and members of the Executive Body. The main evaluation criterion is the achievement of the set KPIs.

Remuneration of key management personnel represents salaries, bonuses and other short-term employee benefits.

Amount of remuneration, ‘000 KZT