Baltabayev Askar Kuatbayevich

Managing Director for Procurement and Risks of Samruk-Energy JSC, Member of the Management Board

Citizenship: Republic of Kazakhstan

Date of birth: 16 September 1979

Education:

2001 — graduated from the Academy of the Ministry of Internal Affairs of the Republic of Kazakhstan with major in Law

2014 — graduated from Kokshetau State University, bachelor’s degree in Economics

Professional experience:

08.2001–05.2012 — Held various positions in investigative and operational units of the internal affairs and financial police authorities.

12.2012–01.2018 — Senior manager, Procurement Department; Director, Procurement Department; Advisor to the Chairman of the Management Board; Managing Director for Procurement, Samruk-Energy JSC

01.2018–07.2023 — Held executive positions in private construction and manufacturing companies.

07.2023–present — Managing Director for Procurement and Risks, Samruk-Energy JSC

Responsibilities:

• Ensuring and overseeing the procurement of goods, works and services by the Company and its subsidiaries and affiliates (SAs);
• Ensuring and overseeing an increase in the share of local content in procurement;
• Ensuring and overseeing the implementation of the Company’s and SAs’ procurement plans and schedules;
• Ensuring compliance with the legislation of the Republic of Kazakhstan and the regulatory documents of Samruk-Kazyna JSC, the Company and its SAs, as well as compliance with procurement procedures for goods, works and services by the Company and its SAs;
• Coordinating and overseeing logistics for the supply of equipment for core production;
• Overseeing the development and provision of the Company and its SAs with internal regulatory documents governing the procurement of goods, works and services;
• Ensuring and overseeing inventory turnover at the Company’s SAs;
• Developing, facilitating the approval of, implementing and monitoring the implementation of procurement category strategies managed at the Samruk-Kazyna JSC and Company levels;
• Ensuring and overseeing the risk management and internal control systems of the Company and its SAs, including the development and updating of action plans, control procedures and methodological frameworks relating to internal control, risk management and business continuity management;
• Preparing and submitting to the Company’s Board of Directors and its Audit Committee information on risk assessments, including descriptions of identified risks, as well as information on the implementation of risk mitigation plans and programs;
• Ensuring and overseeing the development and implementation of action plans to improve the Company’s and its SAs’ risk management system (RMS) and internal control system (ICS), assessing the effectiveness of the RMS and ICS, and providing methodological support to the Company’s SAs on matters relating to the operation of the RMS and ICS;
• Ensuring and overseeing the development and implementation of plans designed to ensure business continuity across the Company’s group of companies, as well as monitoring and analyzing the effectiveness of business continuity measures;
• Organizing the Company’s administrative and general operations;
• Ensuring and overseeing the stable operation of the Corporate Centre, effective inventory management and the provision of employees with furniture, electrical appliances and other equipment, as well as coordinating and overseeing the organization of measures aimed at optimizing accommodation costs for the Company’s employees on business trips, improving the electronic document management system, and promoting the use and development of the state language within the Company;
• Overseeing the implementation of projects during the construction and commissioning stages, including ensuring centralized management of construction processes, monitoring compliance with work plans, approved budgets, quality requirements and technical standards, ensuring effective management of the construction stage and timely commissioning of facilities, and reducing the risks of deviations from approved timelines, budgets and technical solutions.

Maxutov Kairat Berikovich

Chairman of the Management Board of Samruk-Energy JSC, Member of the Board of Directors

He was appointed Chairman of the Management Board of Samruk-Energy JSC by the resolution of the Management Board of Samruk-Kazyna JSC dated 14 June 2023 (Minutes No. 28/23),

Date of birth: 16 May 1970

Education:

1991 — Karaganda Cooperative Institute of Kazpotrebsoyuz, major in Auditing and Control

2019 — Almaty University of Power Engineering and Telecommunications, major in Electrical engineering

Professional experience:

08.1991–11.1992 — Auditor, Accounting and Control Department, Karaganda Regional Consumer Cooperative Union

12.1992–10.1993 — Lead specialist, Investment and Innovation Department, Karaganda branch of Igilik-Bank Commercial Bank

11.1993–08.1995 — Head of the International Settlements and Foreign Exchange Operations Department, Karaganda Branch of Igilik-Bank Commercial Bank

08.1995–03.1997 — Deputy Director, Karaganda Branch of Igilik-Bank Commercial Bank

04.1997–09.1997 — Financial Advisor, Kamrau-Karaganda LLP

09.1997–06.1999 — Deputy Chairman of the Administrative Council of special economic zone (SEZ); Deputy Mayor of Karazhal c.

10.1999–06.2004 — Deputy Director, Director, Karaganda Branch of Alfa-Bank Kazakhstan JSC, Almaty

08.2004–09.2008 — Vice President for Economics, Gefest Mining and Industrial Holding company

09.2008–01.2009 — Managing Director, Eurasian Holding Company

02.2009–02.2012 — Deputy Chairman of the Management Board for Finance and Economics, Samruk-Energy JSC

02.2012–11.2012 — Managing Director for Finance and Economics, Samruk-Energy JSC

11.2012–11.2013 — Managing Director for Corporate Governance, Samruk-Energy JSC

11.2013–03.2016 — Deputy Chairman of the Management Board, Samruk-Energy JSC

03.2016–05.2018 — Managing Director for Economics and Finance, Samruk-Energy JSC

06.2018–06.2023 — Executive positions in commercial organizations

06.2023–present — Chairman of the Management Board, Samruk-Energy JSC

He holds no shares in the Company or in any of its suppliers or competitors.

Kamalov Almasbi Nizamaddinovich

Managing Director for Economics, Finance and Digitalization of Samruk-Energy JSC, Member of the Management Board

Year of birth: April 7, 1989

Education:

2006–2010 — Kazakhstan Institute of Management, Economics and Forecasting (KIMEP), Bachelor’s Degree in Management/Marketing

2016–2018 — University “Almaty”, Bachelor’s Degree in Economics and Business, major in Finance

2023–2026 — University of Warwick, DLMBA, Master of Business Administration (MBA), major in Social and Environmental Sustainability

Professional qualification:

CFA Level II, June 2019

Professional experience:

11.2011–06.2013 — Almaty Power Plants JSC, Lead Economist, Budget and Economic Analysis Department

06.2013–01.2014 — Station Ekibastuz SDPP-2 JSC, Deputy Head of the Planning and Economic Department

01.2014–12.2017 — Samruk-Energy JSC, Chief Manager, Planning and Economic Analysis Department

12.2017–04.2021 — Samruk-Energy JSC, Head of the Economic Analysis Division, Strategy and Economic Analysis Department

04.2021–09.2023 — Samruk-Energy JSC, Director of the Strategy and Economic Analysis Department

09.2023–06.2025 — Samruk-Energy JSC, Managing Director for Economics and Finance

06.2025–present — Samruk-Energy JSC, Managing Director for Economics, Finance and Digitalization

Responsibilities:

• developing, updating, coordinating, approving, monitoring and overseeing the implementation of the Company’s Long-Term Development Strategy and the Strategy Implementation Roadmap;
• developing and monitoring the implementation of the Company’s Expectations for its subsidiaries over five- and ten-year periods;
• tariff setting, including the coordination and approval of planned tariffs of subsidiaries in accordance with the established procedure;
• overseeing the Company’s and subsidiaries’ financial and economic performance;
• accounting, tax and statistical reporting;
• financing of the Company’s and subsidiaries’ investment projects;
• preparing the Company’s shares for an initial public offering (IPO), including the development and implementation of an action plan;
• managing the Company’s temporarily available cash;
• ensuring the Company’s compliance with the requirements of stock exchanges on which the Company’s securities are listed;
• issuance (declaration) and placement of the Company’s shares;
• monitoring the implementation of, consolidating information on, and reporting on government strategic plans;
• preparing reports and presentations on the Company’s operating and financial performance for the Company’s management, as well as for submission to Samruk-Kazyna JSC, the Board of Directors and other bodies in accordance with the Company’s internal regulations and requests from the relevant organizations;
• implementing government strategic plans and programs related to the Company’s operations within the areas of responsibility;
• ensuring compliance with international ISO standards within the management system in the areas of responsibility;
• overseeing the implementation of the Company’s and subsidiaries’ IT strategies;
• initiating new AI projects tailored to the power industry;
• implementing and supporting digital solutions aimed at improving efficiency and profitability; participating in international forums and negotiations and signing cooperation agreements in AI and digitalization;
• engaging with partners and investors in connection with digital projects;
• overseeing the IT budget, including capital and operating expenditures;
• ensuring and overseeing price benchmarking for goods, works and services procured by the Company, including planned and actual price benchmarks for procurement and key product categories of the Company and its subsidiaries;
• ensuring and overseeing price benchmarking for major equipment in the implementation of large-scale projects;
• ensuring and overseeing price monitoring in the procurement of goods, works and services by the Company and its subsidiaries;
• overseeing the transition to centralized price benchmarking for procured goods, works and services and the implementation of programs to automate the price benchmarking process;
• engaging with and representing the Company’s interests in the areas of responsibility in dealings with government authorities, legal entities, including banks, stock exchanges, insurance companies, audit firms, independent appraisers and other financial institutions, public associations, as well as individuals, and with the sole shareholder, Samruk-Kazyna JSC;
• performing other functions necessary to achieve objectives within the areas of responsibility.

Zhaparkhanov Nurlan Altynkhanovich

Managing Director for Legal Support and Asset Management of “Samruk-Energy” JSC, member of the Management Board

Date of birth:  26.05.1982

Education:

In 2003, graduated from Al-Farabi Kazakh National University with a degree in Law.

In 2011, graduated from Turan University, earning a Master of Laws degree.

Professional experience:

09.2023- to present “Samruk-Energy” JSC, Managing Director for Legal Support and Asset Management

11.2022 – 08.2023 “Qazaq Green Power PLC” Public company, Managing Director

05.2021 -03.2022 “Samruk-Energy” JSC, Managing Director

03.2016-05.2021 “Samruk-Energy” JSC, Head of Legal support department

02.2015 – 03.2016 “Samruk-Energy” JSC, Head of Legal department

04.2013 – 02.2015 “Samruk-Energy” JSC, Senior manager of Legal department

11.2012-04.2013 “Samruk-Energy” JSC, Senior manager of Security, Civil Defense, Environmental Protection Department.

02.2012-11.2012 “Samruk-Energy” JSC, Senior manager of Occupational health and safety department

06.2010-02.2012 “Samruk-Energy” JSC, senior manager of Legal department  

03.2009 – 06.2010 “Samruk-Energy” JSC, manager of Legal department

05.2008-03.2009 “Maslo-Del” LLP, lawyer

09.2005-01.2008 “Kazteleradio” JSC – Head of Contracts department

09.2003 – 09.2005 “NarOil” LLP, lawyer

Functions performed:

• Oversight to ensure the safeguarding of rights and adherence to the interests of the Company and its subsidiaries and affiliates;
• Provision and supervision of thorough and punctual legal examination of draft agreements and associated documents, draft orders, and other acts of the Company, draft decisions of the Company’s bodies, draft internal regulatory documents of the Company to ascertain their conformity with the legislation of the Republic of Kazakhstan and the interests of the Company;
• Ensuring and overseeing claims, judicial, and arbitration proceedings involving the Company and its subsidiaries and affiliates, determining the Company's and SA judicial (arbitration) stance (as agreed), and representing the Company's interests in courts to protect rights and legitimate interests;
• Ensuring and monitoring the management of sustainable development, risks, and internal regulations in the field of sustainable development;
• Ensuring and monitoring the formulation, updating, execution, and control of measures for implementing the Guidelines in the field of sustainable development of the Company;
• Ensuring the development/updating, monitoring, and control of the implementation of the Strategy for interaction with stakeholders;
• Ensuring the development/updating of the Stakeholder Map and identifying mechanisms for interaction with internal and external stakeholders;
• Ensuring the formulation and execution of the Corporate Governance Code and the Action Plan for enhancing corporate governance within the Company and its subsidiaries and affiliates;
• Coordination and oversight of the development and publication of the Company’s Annual Report;
• Implementation of the practice of preparing a report according to the GRI system;
• Assurance of the construction of a target corporate governance structure for the Company and its subsidiaries and affiliates;
• Coordination and oversight of the implementation and enhancement of the corporate governance system in the Company and its subsidiaries and affiliates;
• ensuring the diagnostics of corporate governance of the Company and its subsidiaries and affiliates;
• Assurance of the achievement of the planned indicator of the corporate governance rating of the Company and its subsidiaries and affiliates;
• Implementation of measures to optimize, restructure, and reorganize the Company’s assets (merger, division, spin-off, transformation, accession, change in the ratio of shares/participatory interests in subsidiaries and affiliates), as well as the creation, acquisition, and alienation of shares/participatory interests of legal entities, liquidation of the Company’s assets, including the development and monitoring of the implementation of Action Plans in these areas;
• Implementation of the program for privatization of the Company’s assets;
• Evaluation of the feasibility of optimization and reorganization of assets;
• Assessment of the Company’s assets;
• Execution of other functions necessary to implement tasks in supervised areas.

Turgambayev Ruslan Yelubaevich

Managing Director for Production, member of the Management Board

Date of birth:  April 30, 1974

Education:

In 1998 - graduated from the Almaty Institute of Energy and Communications, major in industrial thermal power engineering.

In 2021 - graduated from the Central Asian Innovative University, major in management.

Professional experience:

1998-2009 worked at "Corporation Kazakhmys" LLP Zhezkazgan CHP as an engineer-inspector of the main equipment at the turbine shop, operator of steam turbines of the turbine shop, assistant of the turbine shop head, chief engineer, director;

2009-2011 worked at "Sapa Kurylys 2007" LLP as a deputy director of operations;

2011-2013 worked at the State Institution "Department of Energy and Public Utilities of Almaty" as the First Deputy Head of the Department of Energy and Public Utilities of Almaty;

2013-2019 worked at “BazisElectroMontazh” LLP as СTO;

2019-2021 worked at the State Institution "Department of Energy and Housing and Communal Services of the Turkestan Region" as deputy head, head;

01.2022-11.2022 worked at Purolite LTD (Great Britain, Representative Office in the Republic of Kazakhstan and Central Asia, Azerbaijan and Armenia) as a key account manager;

Since November 2022 - Managing Director for Production and Asset Management of the Company.

Roles and responsibilities:

• management and control of production and technical activities of subsidiaries and affiliates;
• coordination and control over the targeted spending of state budget funds by subsidiaries and affiliates as regards the quality and timeliness of the performance of the scope of work;
• coordination and control of activities of SA: preparation of SA power facilities for operation in the autumn-winter period; organization of anti-flood measures; on planning and organizing fuel supplies to ensure the operation of power facilities of subsidiaries and affiliates; fulfillment of the daily schedule of specified loads of electricity/coal consumers of subsidiaries and affiliates;
• development/updating, coordination, implementation and monitoring of the implementation of the Technical Policy and the Program for the retrofit and technical re-equipment of existing facilities and major construction;
• ensuring the execution of investment agreements by SA, which were concluded with the Ministry of Energy of the Republic of Kazakhstan, including coordination and control over SA’s activities on making timely adjustments to these agreements;
• ensuring the implementation of industrial automation systems, including projects of ASCAPC and APCS at subsidiaries;
• control over the timely implementation of the tariff campaign at subsidiaries and affiliates;
• corporate governance of SA activities;
• participation in the development and implementation of the Asset Restructuring Plan;
• coordination and control over the work of subsidiaries and affiliates on reduce the cost of production of electricity and heat, transmission of electricity and coal mining;
• implementation of lean production principles;
• streamlining the operations of subsidiaries and affiliates;
• development, updating and implementation of the Innovation and Technology Strategy of the Company and SA;
• organization of the activities of the Investment and Innovation Council of the Company;
• innovative activity of the Company and SA;
• making arrangements for the implementation of R&D at subsidiaries and affiliates;
• creating and updating of patent information search for new technologies at subsidiaries and affiliates;
• liaise with research institutes on issues of innovation and technological development;
• development and implementation of a program for energy and resource saving and energy efficiency;
• ensuring that the Company and SA comply with the requirements of the legislation in energy conservation and energy efficiency (including energy audits, implementation of an energy management system, implementation of action plans, energy saving and energy efficiency programs, etc.);
• organization of work on monitoring and control over the activities of the Company's subsidiaries and affiliates in the area of environmental protection;
• timely informing the Chairman of the Company’s Executive Board about emergencies or technological violations in operations of SA in line with the regulations;
• development and control over the implementation of corrective measures in terms of operations of the Company and SA;
• creating documented initiatives that will have a prospective effect for each strategic goal, in terms of operations of the Company and SA;
• creation, analysis and supervise the implementation of the investment program of the Company and SA;
• implementation and control over performance of works related to social construction facilities, as well as interaction with authorized bodies on matters related to the Company’s social facilities;
• implementation of the Government strategic plans and programs related to the operations of the Company in supervised areas.

Jubaev Armanbay Saparbaevich

Independent director, Chairman of the Audit Committee, Chairman of the Appointment and remuneration Committee, member of the Strategic planning Committee.

He was elected an independent director, a member of the Board of Directors on June 24, 2025 by the decision of the Management Board of “Samruk-Kazyna” JSC (minutes No. 28/25).

Citizenship: Kazakhstan
Date of birth: 28.01.1977

Education:

1997-1999  Duquesne University (Pittsburgh, USA)

Bachelor of science in Business Administration (BSBA).

2002-2003 University of Oxford (UK). Master of Science in Comparative Social Policy (MSc Comparative Social Policy).

2005-2007 University of California Berkeley (USA), MBA degree.

Certified Financial Analyst, CFA, since 2012. 

Professional experience:

2006-2008 SAP Company (USA), Marketing Specialist

2009-2010 McKinsey Company (Moscow, RF), consultant

2010-2012 Polymetal Company (Kazakhstan)

2012-2013 KPMG company (Kazakhstan), senior manager.

2013-2020 PwC company (Kazakhstan), senior manager, director.

2020 to present Founder of the consulting company StrategyLab LLP.

 Participation in the Boards of Directors:

2022 to present  Independent director of “Kazakhtelecom” JSC

Foreign languages:

English - fluent

He does not hold shares of the Company, suppliers, and competitors.

Adylkerimov Arman Adylkerimovich

Managing Director for Legal Support, Procurement and Risks, member of the Management Board

Date of birth:  24 September 1980

Education:

In 2001 -graduated from Kazakh State National University named after Al-Farabi (bachelor's degree) with major in law;

In 2004 -graduated from Kazakh State National University named after Al-Farabi (Master's degree) with major in law;

In 2010 -graduated from the Kazakh Economic University named after. T.Ryskulov with major in Accounting and Audit.

Professional experience:

07.2001-08.2002 - "Institute of the RK Legislation" CJSC of the RK MJ, Leading Specialist;

10.2002-12.2002 - "Kazbaspasoz" JSC, Legal Adviser of Legal and Human Resources Department;

03.2003-12.2003 - "Kedentransservice" CJSC, Legal Adviser of Legal and Staff relations Department;

01.2004-10.2004 – “Housing Construction Company” LLP, Real estate market sector specialist;

11.2004-05.2005 - Branch "Almaty MPN" of "Kegok" JSC, 2^nd category Engineer of  Contract Implementation Group;

05.2005-06.2008 – ED at “KEGOC” JSC, Chief Specialist of SPMD;

06.2008-12.2015 – “KazTransOil” JSC, Senior manager of Contracts Department;

01.2016-09.2017 -  "Almaty Power Plants" JSC, Head of Procurement Department, Acting Deputy Chairman of the Board for Procurements;

11.2017-01.2018 – “Korgau Engineering” JV” LLP, Director General;

01.2018-08.2018 – “Petropavlovsk Plant of Heavy Machine Building” JSC, Managing Director for Business Development;

10.2019 - 04.2021 – “Temirmash” Pavlodar plant” LLP, Regional Director in Nur-Sultan.

04.2021 - 05.2022 – “Samruk-Energy” JSC, Managing Director for Procurement;

05.2022 - present – “Samruk-Energy” JSC, Managing Director for Legal Support, Procurement and Risks.

Roles and responsibilities:

• control over ensuring the protection of rights and observance of the Company and SA interests;
• ensuring and monitoring the conduct of high-quality and timely legal review of draft agreements and documents attached to them, draft orders and other regulations of the Company, draft decisions of the Company's bodies, draft internal regulatory documents of the Company so to secure compliance with the legislation of the Republic of Kazakhstan and the interests of the Company;
• ensuring and monitoring the conduct of claims and litigation related work of the Company and SA, determining the judicial (arbitration) position of the Company and SA (as agreed), also representing the interests of the Company in courts in order to protect the rights and legitimate interests;
• provision and control of the risk management system, internal control system at the Company and SA, including development/updating of measures, control procedures, and methodological base in internal control systems, risk management and business continuity management;
• ensuring and controlling the process of developing and implementing plans that ensure the continuity of the Company's group operations, as well as monitoring and studying the effectiveness of actions aimed to ensure continuity of activities;
• ensuring and controlling the management of sustainable development, risks and IRD in sustainable development;
• ensuring the development/updating, monitoring and control over the execution of Stakeholder engagement strategy;
• ensure the development and implementation of the Corporate Governance Code of the Company and the Action Plan for improvement of the Company and SA corporate governance;
• coordination and control over the development and publication of the Company's Annual Report;
• Application of practice of preparing a report in line with GRI system;
• ensuring and controlling the procurement of goods, works and services of the Company and SA;
• ensuring and controlling the increase in the share of local content in procurements;
• ensuring and monitoring the implementation of the Plans and procurement schedules of the Company and SA;
• ensuring compliance with the Republic of Kazakhstan law requirements, regulatory documents of “Samruk-Kazyna” JSC, the Company and SA and compliance with the procedures for the procurement of goods, works and services by the Company and SA;
• supervision and control over logistics of equiepment for the main production;
• provision and control of price marketing of goods, works and services in the Company, planned and actual indicators of marketing prices in purchases, main commodity items of the Company and SA;
• ensuring and control over conduct of prices research for the main equipment in the implementation of major projects;
• provision and control of price monitoring during the procurement of goods, works and services by the Company and SA;
• control over the development and provision of the Company and SA with internal regulatory documents in procurement of goods, works and services;
• secure and control of inventory turnover at SA;
• development, provision and supervise the process of approval, implementation and monitoring the procurement of category strategies, which are managed at the level of “Samruk-Kazyna” JSC and the Company;