Address by the Chairman of the Board of "Samruk-Energy” JSC, Kairat Maxutov, to the employees of subsidiary companies.

In his opening address, Kairat Maxutov, Chairman of the Board of “Samruk-Energy" JSC emphasized the significant contributions of women to the development of the company and the energy sector.

"Energy has traditionally been considered a male-dominated industry due to the nature of physical labor involved in the sector. However, year after year, more women are confidently entering this field, bringing new ideas and approaches that foster innovation and contribute to the further development of the energy sector",  said Kairat Maxutov.

He highlighted that women are distinguished by qualities such as high responsibility, diligence, punctuality, and that the success of the company is heavily influenced by its female employees.

The head of Samruk-Energy extended his congratulations to the women of the company, wishing them health, prosperity, and continued success in their professional endeavors.

The event concluded with a festive concert.

Dear Ladies,

I sincerely congratulate you on the bright spring holiday – International Women's Day, March 8th!

This day provides us with a wonderful opportunity to express our gratitude for your hard work and dedication to your professions.

Every day, through your hard work and perseverance, you demonstrate that great heights can be achieved in any field when approached with dedication and commitment. Not only have you firmly established yourselves in the industry, but you are also actively shaping the future of the country’s energy sector.

As of today, women represent 26% of the workforce at “Samruk-Energy” JSC, and women hold 20% of executive positions within the management bodies of the group. This year, we will continue our efforts to steadily increase these figures.

Last year, “Samruk-Energy” JSC established the first Women’s Club within the Group, and with my support, the inaugural Women’s Forum of the company was held in September 2024.

We are proud to have such talented, driven women on our team who are confidently advancing in their careers and excelling in their fields. Your energy, expertise, and determination propel us forward, strengthening our team and driving our success.

May each new day bring you joy, inspiration, and new achievements! I wish you and your families health, happiness, and well-being. Happy Holidays!

Kind regards,
Chairman of the Board
Samruk-Energy JSC
Kairat Maxutov

A working meeting was held at Bogatyr Komir LLP to discuss key aspects of the coal mining enterprise’s operations, including the implementation of production plans, equipment maintenance, and overburden removal activities.

As a result of the discussions, directives were issued to develop a comprehensive development program for Bogatyr Komir through 2032. The plan will include increasing production capacity at the Bogatyr and Severny coal pits, modernizing existing mining and transport equipment, and expanding both overburden removal and stripping operations to support long-term sustainability and efficiency.

The next site visit was to Ekibastuz SDPP-1, where Kairat Maxutov, Samruk-Energy head, reviewed progress on several critical infrastructure projects. These included the construction of Chimney No. 1, the third fuel supply line, and the ongoing overhaul of Power Unit No. 4, specifically the replacement of the generator rotor.

Particular emphasis was placed on ensuring that maintenance and construction work is completed on schedule and meets high-quality standards, as well as on the measures being implemented to enhance the reliability and efficiency of the power plant.

A final meeting to review the results of the occupational safety audit was held with the participation of Gibrat Auganov, Managing Director for Corporate Governance, Social and Labor Relations, and Occupational Safety at Samruk-Kazyna, and Kairat Maxutov, Chairman of the Board of Samruk-Energy. Senior executives of Bogatyr Komir LLP and Ekibastuz SDPP-1 presented updates on ongoing initiatives to enhance workplace safety and occupational health. 

As part of the field meeting, experts from the Fund and other portfolio companies visited the coal mine and Ekibastuz SDPP-1, exchanging experiences on current occupational safety issues in the energy sector. It was emphasized that achieving zero workplace injuries requires, above all, fostering a strong safety culture among employees and ensuring safe working conditions.

Following the meeting, specific directives were issued to improve workplace safety and enhance the working conditions of employees at these enterprises.

As part of its corporate strategy, Samruk-Energy has transferred “Ust-Kamenogorsk HPP” LLP and “Shulbinsk HPP” LLP to Qazaq Green Power PLC, a public company fully owned by Samruk-Energy, to consolidate renewable and hydropower assets within a dedicated legal entity focusing on green energy development.

The transfer was executed through an increase in the charter capital of Qazaq Green Power PLC by issuing shares of Qazaq Green Power PLC to its sole shareholder, Samruk-Energy. As payment for the issued shares, Qazaq Green Power PLC received 100% ownership interests in "Ust-Kamenogorsk HPP" LLP and "Shulbinsk HPP" LLP. 

It is important to note that as a result of this asset transfer, Samruk-Energy retains full ownership of the Ust-Kamenogorsk and Shulbinsk hydropower plants through its wholly owned subsidiary, Qazaq Green Power PLC.

The expanded meeting of the Republic of Kazakhstan’s Ministry of Energy was chaired by Roman Sklyar, First Deputy Prime Minister of the Republic of Kazakhstan. Kairat Maxutov, Chairman of the Board of “Samruk-Energy” JSC, provided an update on operational performance, investment projects completed in 2024, and the company’s plans for 2025. In 2024, the Samruk-Energy group of companies exceeded all set targets, surpassing the results achieved in 2023. Electricity production reached 39.7 billion kWh, while heat energy production totaled 6.6 million Gcal. All scheduled maintenance work on 104 units of core power plant equipment was fully completed in 2024. For 2025, the company has planned 114 maintenance operations across 105 units of essential power plant equipment. The current heating season across Samruk-Energy’s power plants is proceeding as planned, with fuel reserves (coal and mazut) maintained above required levels. Kairat Maxutov highlighted the significant collaboration with the Ministry of Energy of the Republic of Kazakhstan in 2024 to amend regulatory frameworks in the electricity sector, aimed at advancing the energy industry. In 2025, efforts will continue to refine legislative initiatives, particularly to ensure investment recovery for large-scale hydroelectric power plants, pumped-storage power plants , and energy storage systems through the capacity market. Samruk-Energy Chairman also outlined the company’s investment project plans for 2025. Looking ahead, Samruk-Energy aims to commission 14.3 gigawatts of new generation capacity by 2032.

Samruk-Energy and UCC Holding have signed a Shareholders’ Agreement to establish a project company for the development of the 1,100 MW Kyzylorda Combined Cycle Gas Turbine (CCGT) power plant. The signing ceremony was attended by Ramez Al-Khayyat, CEO of Power International Holding (PIH), and Arman Issagaliyev, Ambassador of Kazakhstan to Qatar.

The Kyzylorda CCGT project aims to enhance Kazakhstan’s energy system stability, improve environmental sustainability, and increase energy supply efficiency.

Both parties highlighted the significant progress in project preparation and confirmed their plans for further joint implementation. The Shareholders’ Agreement marks a key milestone toward signing the core project agreements, including the Investment Agreement, Capacity Market Agreement, and Power Purchase Agreement, scheduled for 2025.

 About UCC Holding:
UCC Holding is a leading Qatari conglomerate specializing in construction and infrastructure projects. As part of Power International Holding, UCC has successfully delivered hundreds of projects worldwide.

The Astana International Exchange (AIX) hosted the first trading session for International Renewable Energy Certificates (I-REC), a globally recognized instrument that certifies electricity generation from renewable energy sources.

The first transaction was completed between Samruk-Energy’s subsidiary, “Samruk-Green Energy” LLP, and Valor carbon, a London-based trading firm. Under the agreement, 1,000 I-REC certificates were sold to Valor Carbon.

"The exchange-based I-REC trading mechanism will enhance transaction transparency and stimulate sector growth by increasing supply and demand. With the planned expansion of green generation capacities, we anticipate a substantial rise in trading volumes and interest in such instruments in the future", noted Almasbi Kamalov, Managing Director for Economy and Finance at Samruk-Energy.

I-REC certificates are recognized in more than 50 countries, enabling businesses and organizations to demonstrate their commitment to green energy, support decarbonization efforts, and align with ESG strategies.

Samruk-Energy Chairman of the Board Kairat Maxutov met with Mohammed Nasser Al-Hajri, Chairman of the Board of Directors of Nebras Power, with the participation of Arman Issagaliyev, Ambassador of the Republic of Kazakhstan to the State of Qatar. The meeting focused on cooperation in the construction of a 300 MW hydropower plant in Abay region.

The project is being developed in accordance with the Agreement between the Governments of Kazakhstan and Qatar on establishing a long-term strategic partnership for priority sector development, signed on March 20, 2024, in Doha.

During the meeting, both parties reviewed the current progress of the project and identified key steps for its effective implementation.

Samruk-Energy and Nebras Power reaffirmed their commitment to strengthening their partnership and jointly implementing strategically significant hydropower initiatives.

About Nebras Power:
Nebras Power is a leading global energy company specializing in renewable energy, power generation, and water supply projects. The company operates across the Middle East, Asia, Europe, and Latin America, supporting the growth of sustainable energy solutions.