THE EXTERNAL AUDIT OF THE COMPANY

The Company’s audit organization is selected in line with the Rules for selection of an audit organization for “Samruk-Kazyna” JSC and organizations, more than fifty percent of voting shares (equity stake) of which are directly or indirectly held by “Samruk-Kazyna” JSC under ownership or trust management, approved by the decision of “Samruk-Kazyna” JSC Management Board.

Quality and cost of services are the main criteria determining the choice of an audit organization.

PricewaterhouseCoopers (“PwC”) network of firms has been the external auditor of the Company since 2012.

PwC has a multibranch network of offices, covering all major markets, both long established and emerging. PwC has a network of offices in 144 countries and over 122,000 employees worldwide. PwC market share among audit companies, which provide services to companies in fuel and energy industry with an income of 200 mln. USD or more is 30 %.

In order to improve the quality of services delivered to fuel and energy industry enterprises in different countries of the world, the Global Energy Center was established as part of PwC Company, the largest centers of which are located in Moscow, London and Houston. PwC Global Energy Center specializes in providing consulting services to customers operating in every sector of the energy market through a worldwide network of 4.000 energy professionals. PwC’s World Energy Service is the leader in providing services to enterprises in the international fuel and energy industries. PwC employees in Kazakhstan have experience in working with the most complex and technically challenging projects.

Visit www.pwc.kz for more information.

According to “Samruk-Energy” JSC Policy in engaging audit organizations services, the Company applies the principle of rotation of a partner bearing the main responsibility for the audit, every five years. Dana Inkarbekova was the partner who had main responsibility for the audit from 2012 to 2015. Baurzhan Burkhanbekov has been the partner since 2016.

Furthermore, there are special conditions at “Samruk-Energy” JSC group of companies relating to hiring of audit organizations’ employees. Therefore, in the event of expected appointment of an audit organization employee who participated in the compulsory audit of the Company as an employee of an audit organization within two years preceding the date of his/her appointment (election) to the Company as a member of the Management Board, managing director and chief auditor, it is required to obtain a preliminary approval of the Audit Committee in order to avoid conflicts of interest.

PwC conducts audit at the following subsidiaries and affiliates of the Company:

Fees paid to the audit firm for auditing services for 2018

PWC delivered the following non-audit services during 2018: