Privatization

Decree of the Government of the Republic ofKazakhstan dated 30 December 2015 N 1141 ‘Some Question of Privatization for 2016-2020’ has approved a list of assets of Investment Fund of Kazakhstan JSC, in compliance with which the Fund has carried out measures for transfer of assets to competitive environment.

Currently, out of 7 (seven) assets recommended for transfer to competitive environment, the Fund has sold 5 (five) assets, with respect to 2 (two) assets bankruptcy procedures are underway with subsequent liquidation. Itshould be noted that sale of the assets was carried out in line with action plans as approved by authorized bodies of the Fund and Design Office of NMH Baiterek JSC.

Based on results of electronic tenders on web portal of the register of state-owned property, 4 assets have been sold: Pams Pipe JSC (100.0 %); A-KBK LLP (100.0 %); MyrzAbeK- ALTYN TAS group JSC (39.0 %); IKhMZ JSC (44.6%), Rannila Kazakhstan JSC (44 %).