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"SAMRUK-KAZYNA" JSC PRESENTS INFORMATION ON PRIVATIZED MAJOR ASSETS

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"SAMRUK-KAZYNA" JSC PRESENTS INFORMATION ON PRIVATIZED MAJOR ASSETS

  1. 1. Privatization program of "Samruk-Kazyna" JSC assets November 2016 Information on assets for privatization
  2. 2. 1 Assets for privatization 1. Directly owned by the Fund 2. Kazmunaigas JSC 3. Kazakhstan Temir Zholy JSC 4. Kazatomprom JSC 5. Samruk-Energy JSC 2–7 9–20 22–35 37–40 42–53 Slides Visit us: www.privatization.sk.kz
  3. 3. 2 Financials (KZT ’000) 31.12.2013 31.12.2014 31.12.2015 Revenue 147,095,176 167,503,201 163,659,643 Profit/loss 7,814,029 3,485,835 10,362,678 Total book value of assets, including 136,875,572 162,204,315 208,351,209 • Fixed assets 86,460,348 97,873,962 91,604,430 • Intangible assets 328,527 253,165 235,351 Equity 47,237,811 49,160,840 27,036,357 Headcount (FTEs) 4,197 4,451 4,612 Location: Almaty Shareholders: Samruk Kazyna (51%) and BAE Systems (49%) Air Astana JSC (up to 25%) http://airastana.com/ Company profile • Air Astana is one of 37 airlines in the world having 4-star rating according to Skytrax International Rating Agency for five years and the only 4-star carrier in Central Asia and India • The company employs 4,612 people • Air Astana fleet consists of modern foreign-made aircraft such as: Boeing 767-300ER, Boeing 757-200, Airbus A319, Airbus A320, Airbus A321 and Embraer 190. Air Astana currently has 30 planes and plans to increase the fleet up to 36 planes by the end of 2017 IPO
  4. 4. 3 Air Astana JSC (up to 25%) Route map Aircraft fleet Revenue (USD mn) and EBITDAR return (%) Net income (USD mn) and dividend payment percent Passengers (‘000) Flying hours and segments (‘000) 0 500 1 000 40% 20% 0% 20152014201320122011 RevenueEBITDAR 0 50 100 100% 50% 0% 20152014201320122011 Net incomePayment percent 0 2 000 4 000 20152014201320122011 International routes Domestic routes 0 100 200 20152011 2013 20142012 Flying hours Segments Boeing 767 Boeing 757 Embraer 190 Airbus A321 Used for long-distance flights at international and domestic routes Used for mid- and short-distance flights at international and domestic routes Used for long-distance flights at international and domestic routes Used for mid- and short-distance flights at international and domestic routes 5 870 km/hr 115,666 kg 7,222 km 150 seats 16 seats 3 850 km/hr 184,612 kg 11,070 km 190/193 seats 30 seats 9 890 km/hr 50,300 kg 4,500 km 88 seats 9 seats 4 870 km/hr 89,000 kg 5,950 km 147/151 seats 28 seats Number Cruise speed Maximum takeoff weight Distance Economy class Business class Crew 2 pilots 2 pilots Airbus A320 Airbus A319 Used for short-distance flights at international and domestic routes Used for mid- and short-distance flights at international and domestic routes 1 900 km/hr 64,000 kg 6,850 km 114 seats 12 seats 8 870 km/hr 77,000 kg 6,150 km 132/151 seats 16/28 seats 2 pilots 2 pilots 2 pilots 2 pilots IPO
  5. 5. 4 Location: Almaty Shareholders: Samruk Kazyna (52.03%) and Sobrio (24.96%), free-float (23.01%) Kazakhtelecom JSC (26% minus 1 share) http://telecom.kz/ Company profile • National telecom operator with market shares in the following services: fixed-line telephony — 93.3%, fixed broadband access — 72.7%, mobile telecom — 11%, pay TV — 24.6%. • Number of fixed lines as of 31.12.2015 — 3,878,584 units (urban telephone network — 2,808,439 units, telecom system — 1,070,145 units). • Number of Internet access network subscribers — 4,337,878 subscribers • 4G/3G/2G network subscriber base (ALTEL trade mark) exceeded 2.6 mn people showing 300+% growth in 2015 • Digitization program completed in 2015, 100% of analog switching stations across the country replaced with digital • Long-term credit rating at BB level with ‘stable’ forecast confirmed by Standard & Poor's • Company’s credit ratings at BB level with ‘positive’ forecast confirmed by Fitch Ratings Financials (KZT ’000) 31.12.2013 31.12.2014 31.12.2015 Revenue 190,867,000 208,223,000 189,754,000 EBITDA 65,829,000 61,580,000 66,745,000 Net profit/loss 19,614,000 7,484,000 24,388,000 Book value of assets, including 416,135,000 417,693,000 436,494,000 • Fixed assets - 308,471,725 285,555,708 • Intangible assets - 24,531,269 19,558,165 Equity 265,503,000 270,309,000 292,421,000 Headcount (FTEs) 29,847 29,000 27,452 Dual track
  6. 6. 5 Kazakhtelecom JSC (26% minus 1 share) Market shares of operators at the common market of communication services in 2015 according to total revenues Source: Data of Just Smart Solutions LLP Kazakh telecom industry revenue structure by types of services, 2015 The Group structure: subsidiaries JSC Kazakhtelecom JSC Altel 100% KT Cloud Lab LLP 100% Vostoktelecom LLP 100% Signum LLC 100% Info-Net Wireless LLP 100% KT IES LLP 100% Nursat+ LLP 100% Mobile telecom Corporate info- communication services Fixed telephony Other assets 6.3% 1.5% 35.3% 26.4% 19.8% 0.3% 2.3% 2.4% OTAU TV JSC Transtelecom JSC Kcell JSC KazTransCom Alma TV JSC Kazakhtelecom Others JSC ASTEL Beeline Tele2 1.8% 4.0% 8.8% 2.0% 46.6% 13.7% 12.6% 4.0% 4.2% Mobile interconnect Fixed Internet Toll TV Data communication Mobile telecom ICT services Fixed telephony Operator segment 8.1% Dual track
  7. 7. 6 Qazaq Air JSC (100%) https://www.flyqazaq.com/ Company profile • Regional airlines servicing domestic routes in Kazakhstan registered in April 2015. Regular flights started in September 2015 • Fleet: three Bombardier Q400 planes in 2015 to be increased up to 5 by 2020 • The route network covers ten Kazakh cities: Astana, Almaty, Pavlodar, Shymkent, Kostanay, Aktobe, Atyrau, Taldykorgan, Pavlodar, Semey. Base airport – Almaty. It is planned to expand coverage by 2020: 16 cities including 4 cities outside Kazakhstan Financials (KZT ’000) 31.12.2013 31.12.2014 31.12.2015 Revenue - - * EBITDA - - * Net profit/loss - - * Book value of assets, including - - * • Fixed assets - - * • Intangible assets - - * Equity - - * Headcount (FTEs) - - * Location: Almaty Shareholders: Samruk Kazyna (100%) * Audited financial statements expected according to 2016 results
  8. 8. 7 Qazaq Air JSC (100%) Qazaq Air fleet Parameters Bombardier Q400 Flight distance 2,063 km Number of planes 3 units Capacity 76-78 passengers Maximum flying height 7,620 m Maximum speed 667 km/hr Length 32.8 m Wing span 28.4 m Height 8.4 m Engines PW150 70+% of transportation in RK fall on the ten main routes • 2 out of 2.9 mn domestic passengers are currently using the main routes and only 0.8 mn — 116 secondary routes • Most air transportation is between the largest (Almaty, Astana) and economically successful (Atyrau) cities The main routes are attractive by high demand for transportation Route map in Kazakhstan
  9. 9. 8 Assets for privatization 1. Directly owned by the Fund 2. Kazmunaigas JSC 3. Kazakhstan Temir Zholy JSC 4. Kazatomprom JSC 5. Samruk-Energy JSC 2–7 9–20 22–35 37–40 42–53 Slides Visit us: www.privatization.sk.kz
  10. 10. 9 Atyrau Refinery LLP (99.4%) Company profile • Atyrau Refinery is one of the largest refineries in Kazakhstan • The refinery produces 21 types of petroleum products • Plants: crude oil distillation unit CDU/VDU-3, catalytic reforming unit LG-35-11/300, delayed coker unit, pet coke calcination unit, commercial nitrogen production unit, naphtha hydrotreatment and isomerization unit, diesel hydrotreatment and dewaxing unit, hydrogen treatment and production unit, sulfur production unit with crystallization unit, etc. • Total capacity – 5 Mtpa • Upgrading: improved quality of motor fuels meeting the requirements of emission class K-4, K-5; increased crude oil processing plant capacity up to 5.5 Mtpa; increased capacity of re-refining processes and oil conversion ratio above 80%. Completion – end of 2016 • The refinery is focused on satisfying the demand of Kazakhstan market for petroleum products Financials (KZT ’000) 31.12.2013 31.12.2014 31.12.2015 Revenue 54,505,146 62,549,285 68,429,243 Profit/loss 17,536,102 (1,980,410) (150,985,157) Total book value of assets, including 288,701,606 360,524,007 537,731,990 • Fixed assets 210,878,854 266,036,463 365,908,183 • Intangible assets 675,259 765,774 642,433 Equity 85,895,412 89,892,804 (61,092,353) Headcount (FTEs) 2,609 2,276 1,685 Location: Atyrau Owner: JSC KazMunaiGas Refining and Marketing https://www.anpz.kz/
  11. 11. 10 Financials (KZT ’000) 31.12.2013 31.12.2014 31.12.2015 Fixed assets 210,878,854 266,036,463 365,908,183 Land 789,784 780,350 890,460 Buildings 19,128,147 18,050,835 49,047,486 Machinery and equipment 39,936,176 38,362,248 105,248,096 Transport 605,084 477,538 57,066 Miscellaneous 4,258,875 3,948,779 7,568,600 Construction in progress 146,160,788 204,416,713 203,096,475 Atyrau Refinery LLP (99.4%) Commissioned in 1945 Design capacity – 4.9 Mtpa Oil conversion ratio – 62% Commissioned in 1978 Design capacity – 7.5 Mtpa Oil conversion ratio – 76.5% Commissioned in 1985 Design capacity – 6.0 Mtpa Oil conversion ratio – 79,8% Atyrau Refinery Pavlodar Petrochemical Plant PetroKazakhstan Oil Product Astana Almaty
  12. 12. 11 Pavlodar Petrochemical Plant LLP (100%) Financials (KZT ’000) 31.12.2013 31.12.2014 31.12.2015 Revenue 358,612,820 62,690,289 54,832,759 Profit/loss 17,529,961 6,128,705 17,826,479 Total book value of assets, including 109,418,125 109,903,948 159,547,602 • Fixed assets 41,008,250 46,979,842 61,069,445 • Intangible assets 277,765 308,934 325,089 Equity 79,578,812 80,823,593 91,086,383 Headcount (FTEs) 3,809 3,343 2,422 Company profile • Pavlodar Petrochemical Plant is one of the largest refineries in Kazakhstan with advanced technologies • The Plant produces 10+ types of petroleum products • The Plant was initially focused on refining of West Siberian oil • Total capacity – 6 Mtpa • Upgrading: improved quality of motor fuels meeting the requirements of emission class K-4, K-5; increased crude oil processing plant capacity up to 7 Mtpa; providing the possibility of refining 5.2 Mtpa of Kazakhstan oil. Completion – end of 2016 • The refinery is focused on satisfying the demand of Kazakhstan market for petroleum products Location: Pavlodar Owner: JSC KazMunaiGas Refining and Marketing https://www. pnhz.kz/
  13. 13. 12 Financials (KZT ’000) 31.12.2013 31.12.2014 31.12.2015 Fixed assets 41,008,250 46,979,842 61,069,895 Land 590,174 589,552 589,552 Buildings 9,869,357 10,117,236 12,599,652 Machinery and equipment 15,772,742 16,333,712 20,883,232 Transport 650,372 676,533 608,611 Miscellaneous 315,900 292,714 485,764 Construction in progress 13,809,705 18,970,095 25,903,084 Pavlodar Petrochemical Plant LLP (100%) Commissioned in 1945 Design capacity – 4.9 Mtpa Oil conversion ratio – 62% Commissioned in 1978 Design capacity – 7.5 Mtpa Oil conversion ratio – 76.5% Commissioned in 1985 Design capacity – 6.0 Mtpa Oil conversion ratio – 79,8% Atyrau Refinery Pavlodar Petrochemical Plant PetroKazakhstan Oil Product Astana Almaty
  14. 14. 13 PetroKazakhstan Oil Products LLP (99.43%) Financials (KZT ’000) 31.12.2013 31.12.2014 31.12.2015 Revenue 24,793,675 43,125,889 52,295,788 Profit/loss (9,579,192) (12,004,397) (5,370,820) Total book value of assets, including 66,377,382 183,408,511 147,731,140 • Fixed assets 58,804,777 59,788,123 69,836,849 • Intangible assets 100,922 72,695 65,772 Equity 41,175,240 53,338,344 37,988,536 Headcount (FTEs) 1,348 1,399 1,423 Location: Shymkent Owner: JSC KazMunaiGas Refining and Marketing, 50% via a foreign subsidiary http://www.petrokazakhstan.kz/ Company profile • PetroKazakhstan Oil Products is managed on parity basis: JSC KazMunaiGas Refining and Marketing and Chinese National Petroleum Corporation CNPC • The refinery produces 30% of total current volume of oil products produced by three Kazakhstan refineries • The only refinery located in South Kazakhstan – the most densely populated area of the Republic • Total capacity – 5.25 Mtpa • Upgrading: Stage 1 is aimed at bringing the oil products quality up to emission classes K-4, K-5 and includes the following units: isomerization unit, diesel hydrotreatment unit and sulfur production unit with 4 ktpa capacity. Stage 2 is aimed at refinery capacity increase up to 6 Mtpa and oil conversion ratio up to 90%. This stage includes the following units: catalytic cracking unit RFCC, prime G+ catalytic cracking naphtha hydrotreatment unit, demercaptanization of saturated and unsaturated LPG, sulfur production unit (2x15 ktpa), hydrogen purification unit (PSA-1, PSA-2). Completion – end of 2016 • The refinery is focused on satisfying the demand of Kazakhstan market for petroleum products
  15. 15. 14 PetroKazakhstan Oil Products LLP (99.43%) Financials (KZT ’000) 31.12.2013 31.12.2014 31.12.2015 Fixed assets 58,804,827 59,788,123 69,836,849 Land 1,466,399 1,473,525 1,473,525 Buildings 12,079,079 11,564,993 10,011,517 Machinery and equipment 29,759,537 25,042,012 22,485,482 Transport 912,291 692,964 650,523 Miscellaneous 2,764,643 2,414,261 2,143,749 Construction in progress 11,822,878 18,600,368 33,072,053 Commissioned in 1945 Design capacity – 4.9 Mtpa Oil conversion ratio – 62% Commissioned in 1978 Design capacity – 7.5 Mtpa Oil conversion ratio – 76.5% Commissioned in 1985 Design capacity – 6.0 Mtpa Oil conversion ratio – 79,8% Atyrau Refinery Pavlodar Petrochemical Plant PetroKazakhstan Oil Products Astana Almaty
  16. 16. 15 NMSC Kazmortransflot LLP Company profile • Objective: development of the national marine commercial fleet of the Republic of Kazakhstan and organization of international sea transportation of domestic freights using own resources • Has four subsidiaries: Kazmortransflot Ltd., Kazmortransflot UK Ltd., Altai Shipping Ltd. and Alatau Shipping Ltd. • Involved in marine projects of the following companies: Agip KCO, Caspi Meruerty Operating Company B.V., Kurmangazy Petroleum, N Operating, Zhambyl Operating • Freight transportation: Oil – 10+ kt; Dry cargos – 300+ ktpa • Commercial fleet: own oil tankers: ‘Astana’ and ‘Almaty’, ‘Aktau’ — financial leasing, each with 12,000 ton deadweight; ‘Atyrau’, ‘Aktobe’, ‘Oral’ with 13,000 ton deadweight. Oil tankers of Aframax type — ‘Alatau’ and ‘Altai’, each with 115,000 ton deadweight, Barges • Main routes: Caspian Region countries: Aktau — Baku, Aktau — Makhachkala, Black and Mediterranean seas Financials (KZT ’000) 31.12.2013 31.12.2014 31.12.2015 Revenue 18,018,570 20,602,336 19,741,348 Net profit/loss (611,495) 2,055,853 1,259,836 Book value of assets, including 37,878,196 42,079,470 62,035,765 • Fixed assets 31,970,058 35,251,147 48,359,805 • Intangible assets 283,291 236,158 218,986 Equity 18,277,441 20,121,563 25,344,843 Authorized capital 11,575,721 11,575,721 11,575,721 Headcount (FTEs) 552 270 257 Location: Aktau Owner: JSC NC KazMunaiGas — 100% http://www.kmtf.kz/
  17. 17. 16 NMSC Kazmortransflot LLP Financials (KZT ’000) 31.12.2013 31.12.2014 31.12.2015 Fixed assets 31,970,058 35,251,147 48,359,805 Land 2,362 2,362 2,362 Buildings 62,550 30,224 834,422 Machinery and equipment 1,032,843 901,273 823,481 Transport 30,138,606 31,766,957 46,561,934 Miscellaneous 107,941 80,760 112,000 Construction in progress 625,756 2,469,571 25,606
  18. 18. 17 Euro-Asia Air Airline JSC (100%) Company profile • The largest helicopter airline company in Kazakhstan. Use of helicopters and planes in Kazakhstan economy (large territory, challenging terrain, lack of developed transport infrastructure and complicated climatic conditions) helps to resolve the tasks of servicing the Republic’s oil & gas industry and satisfy the demand of businesses and population for air transportation • Has the following aircraft fleet: twelve MI-8T helicopters, two AS-365N3 helicopters, two Challenger 850 (1) and Challenger 870 (1) planes, four Agustawestland 139 helicopters • Operates aircraft maintenance bases (Beineu, Shalkar), hangars (Atyrau, Aktau), training center with MI-8T helicopter simulator (Aktau), medical unit for conducting flight medical expertise of specialists (Astana) • The scope of aerial works scheduled for 2016: 5,000+ hours • Areas: Kazakhstan territory, near and far abroad countries Location: Astana Owner: JSC NC KazMunaiGas — 100% Financials (KZT ’000) 31.12.2013 31.12.2014 31.12.2015 Revenue 7,954,826 10,983,352 15,878,093 Profit/loss 741,633 337,984 637,512 Total book value of assets, including 21,005,105 24,515,709 26,976,476 • Fixed assets 16,224,817 18,447,380 18,442,434 • Intangible assets 6,617 5,900 5,443 Equity 14,987,544 15,214,283 15,513,812 Headcount (FTEs) 450 468 462 http://www.eaa.kz/ Open two-stage tender
  19. 19. 18 Share of aviation services scope Euro-Asia Air Airline JSC (100%) Financials (KZT ’000) 31.12.2013 31.12.2014 31.12.2015 Fixed assets 16,224,817 18,447,380 18,442,434 Land 2,659 2,659 2,659 Buildings 46,311 39,742 24,545 Machinery and equipment 32,504 24,488 29,173 Transport 15,760,117 17,988,208 17,879,419 Miscellaneous 35,472 35,146 26,991 Construction in progress 347,754 357,137 479,647 6% 56% 20% 13% 2% Bell206/EC130 AW-139 Outsourced transport MI-8 AS-365N3 Challenger 850/870 3% Open two-stage tender
  20. 20. 19 KazMunaiGas Service LLP Financials (KZT ’000) 31.12.2013 31.12.2014 31.12.2015 Revenue 5,698,198 7,349,947 7,123,446 EBITDA (182,623) (206,581) 1,281,716 Net profit/loss (57,242) (436,867) 3,600,743 Book value of assets, including 78,984,054 72,531,795 74,333,108 • Fixed assets 2,373,188 2,362,404 2,205,722 • Intangible assets 912 5,153 6,961 Liabilities 24,049,717 6,499,007 4,767,385 Equity 54,934,377 66,032,788 69,565,723 Authorized capital 119,935,508 131,219,365 131,219,365 Headcount (FTEs) 1,228 1,237 1,235 Company profile • Specialized company providing a complex of services for maintaining administrative and residential buildings, health complexes, representative office in Almaty, organization and conduction of subject-based events, rendering transportation and other services for JSC SWF Samruk-Kazyna, JSC NC KazMunaiGas, its subsidiaries and outsourced companies • Large facilities in Kazakhstan, Kyrgyzstan, Turkey and Georgia: Borjomi health club, SPA and hotel; 5-star hotel complex in Shymkent; Kempinsky Hotel AK Aysir turizm ve insaat etc. • Construction: social facilities (national museum), sport and recreation: golf club in Shuchinsk, Saryagach, martial arts hall etc. http://www.kmg-service.kz/ Location: Astana Owner: JSC NC KazMunaiGas - 95%, JSC KazMunaiGas EP - 5%
  21. 21. 20 KazMunaiGas Service LLP Fixed assets Buildings and facilities Buildings and facilities 26 units 117,467.2 m2 Land plots 4 units 2,535 m2 Miscellaneous Transport 144 units
  22. 22. 21 Assets for privatization 1. Directly owned by the Fund 2. Kazmunaigas JSC 3. Kazakhstan Temir Zholy JSC 4. Kazatomprom JSC 5. Samruk-Energy JSC 2–7 9–20 22–35 37–40 42–53 Slides Visit us: www.privatization.sk.kz
  23. 23. 22 Kaztemirtrans JSC (100%) Financials (KZT ’000) 31.12.2013 31.12.2014 31.12.2015 Revenue 107,578,306 107,046,646 78,813,688 EBITDA 44,288,394 36,088,389 27,735,681 Net profit/loss 2,087,162 -35,515,504 -238,659,358 Book value of assets, including 600,151,288 516,153,740 545,957,502 • Fixed assets 403,711,130 390,597,266 377,783,518 • Intangible assets 809,328 500,758 615,248 Liabilities 472,669,295 424,481,771 693,236,076 Equity 127,346,967 91,513,250 -147,096,517 Authorized capital 62,297,106 67,726,866 67,726,866 Headcount (FTEs) 2,606 1,956 2,053 http://kazcargo.kz/ Location: Astana Shareholders: JSC NC Kazakhstan Temir Zholy - 100% Company profile • JSC Kaztemirtrans is the largest freight railroad car fleet operator in the Republic of Kazakhstan (about 60,000 units: covered cars, platforms, gondola cars, tank cars, grain carriers, cement carriers) • About 40% of the total volume of the domestic republican railway freight traffic • The Company’s business covers such areas as freight railroad car operation, freight forwarding services, renting out freight railroad cars, scheduled maintenance of freight railroad cars, scrap metal storage, processing and sales • The main share of freights transported in Kaztemirtrans cars are bulk freights, such as coal, grain, oil and petroleum products, ore, mineral fertilizers
  24. 24. 23 Kaztemirtrans JSC (100%) Branch network Parameters 2013 2014 2015 Gondola cars 31,779 30,488 30,303 Covered cars 9,790 9,040 8,795 Grain carriers 7,170 6,088 4,639 Tank cars 6,480 5,757 5,648 Fitting platforms 4,066 4,004 4,256 Platforms 3,230 2,869 2,653 Others 1,788 1,439 1,345 Total 64,303 59,685 57,639 Car fleet, number Source: Data of the facility Car fleet as of 31.12.2015 Platforms 5% 8% Others 2% 7% Tank cars 10% Fitting platforms Grain carriers 53% 15% Gondola cars Covered cars Astana Almaty Taraz Shymkent Kyzylorda Karaganda Ekibastuz Semey Kokshetau Kostanay Aktobe Pavlodar Atyrau Car repair depot Uralsk Car repair depot Krymurun Car repair depot Arys Aktau Oral Petropavlovsk Central Office Auxiliary depot Regional Branch Kazakhstan car manufacturing company Specialized branch Car repair depot Balkash
  25. 25. 24 Transtelecom JSC (26% minus 1 share) http://www.transtelecom.kz/ Location: Astana Shareholders: JSC “NC “KTZ" - 51%, Mukhanov М.S. - 49%. Main activity: Telecommunication Recommended initial value: (Ernst&Young) – 9,4 bln KZT (26% minus 1 share) Financial performance (thsd tenge) 31.12.2013 31.12.2014 31.12.2015 Revenue 15 808 155 21 616 183 32 669 074 EBITDA 6 498 328 9 577 673 16 180 205 Net profit 558 320 3 148 164 4 510 925 Book value, incl. 43 443 739 75 971 441 91 392 670 Fixed assets 34 366 739 58 595 744 62 654 012 Intangible assets 584 537 3 354 370 4 382 992 Liabilities 29 898 567 59 356 421 70 724 747 Equity 13 545 172 16 615 020 20 667 923 Chartered capital 12 241 487 12 241 487 12 241 487 Staff 2 583 2 614 2 738 Open two-stage tender 1. Required to obtain a second shareholder agreement on the sale, assignment, transfer, donation or any of the other alienation / settlement of transactions of a shareholder in respect of any shares of the objects that are owned now or will be in the possession of the shareholder subsequently, it can be carried out with the written consent of the other shareholder. 2. "TransTelecom" recognized as a strategic asset during its implementation it is necessary to conduct a detailed review of potential investors; 3. Currently, other investment conditions in the process of development. Investment terms applicable at the open two-stage tender
  26. 26. 25 Transtelecom JSC (26% minus 1 share) Map of transmission system Number of staff as of Dec 31, 2015 317 Administrative staff Technical staff Open two-stage tender
  27. 27. 26 Locomotive Kurastyru zauyty JSC (50%) 1. The plant SKD locomotives mainly from the finished set of equipment supplied by General Electric (USA). General Electric owns the technology and a major supplier of components and spare parts for the assembly of Evolution Series locomotives. Also, General Electric has the right to terminate the agreement with LB technology transfer in the event of disagreement on the implementation of LB shares 2. The choice of targeted direct sales recommended by independent consultants (Ernst & Young) and is supported by the existence of intent on the part of General Electric, serving the only possible buyer, introducing in the corresponding asset expertise and technological know-how. Direct sale justification Location: Astana Shareholders: JSC “NC “KTZ" - 50%, «Transmashholding» CSC- 50%. Main activity: locomotives production and sales Recommended initial value: (Ernst&Young) – 15,5 bln KZT Financial performance (thsd tenge) 31.12.2013 31.12.2014 31.12.2015 Chartered capital 11 423 520 11 423 520 11 423 520 Revenue 49 188 741 16 869 051 20 712 393 Net profit 4 687 487 -457 692 -2 253 376 Book value, incl. 52 781 778 45 173 114 31 428 235 Fixed assets 14 714 629 14 058 603 13 984 856 Intangible assets 461 066 509 154 717 704 Liabilities 31 114 360 23 963 388 12 471 885 Equity 21 667 418 21 209 726 18 956 350 Staff 1 004 737 638 Direct sale
  28. 28. 27 Locomotive Kurastyru zauyty JSC (50%) Fixed assets «Locomotive Kurastyru zauyty» JSC Buildings and constructions Construction 21 pcs. 60 410,6 sq.m. incl garage 2 pcs. 1 552,10 sq.m. Main building 1 pcs. 43 182,70 sq.m. auxiliary building 1 pcs. 1 488,50 sq.m. administrative building 1 pcs. 5 904,70 sq.m. warehouses 4 pcs. 8 669,90 sq.m. Facilities (parking,. Gate automatic) 24 pcs Equipment transmission devices 18 pcs. Copying equipment 106 pcs. Other equipment's 1683 pcs. PCs 310 pcs. Peripherals 222 pcs. Other Transport 34 pcs. Equipment 45 pcs. Production tools and accessories 141 pcs. Household Inventory 1 927 pcs. Direct sale
  29. 29. 28 Electrovoz kurastyru zauyty LLP (25%) 1. The plant SKD locomotives mainly of ready sets of equipment supplied by Alstom Transport SA. The manufacturing process of the Company Alstom Transport SA is fully controlled. ALSTOM Transport Holdings B.V. It owns the technologies and 75% of the supplier of components and spare parts for the assembly of electric locomotives. 2. The choice of targeted direct sales recommended by independent consultants (Ernst & Young) and is supported by the existence of intent on the part of ALSTOM Transport Holdings B.V. Acting only possible buyer, introducing in the corresponding asset expertise and technological know-how. Direct sale justification Location: Astana Shareholders: JSC “Remlokomotiv" - 25%, «Transmashholding» CSC- 25%, ALSTOM Transport Holdings B.V. - 50% Main activity: Manufacture of railway locomotives and rolling stock Recommended initial value: (Ernst&Young) – 5,7 bln KZT Financial performance (thsd tenge) 31.12.2013 31.12.2014 31.12.2015 Chartered capital 8 128 523 8 128 523 8 128 523 Revenue 20 211 383 24 132 748 18 267 794 Net profit -503 351 -3 092 613 -2 671 495 Book value, incl. 29 586 120 45 733 294 68 084 623 Liabilities 22 423 569 41 663 356 66 686 180 Equity 7 162 551 4 069 938 1 398 443 Staff 113 147 323 Direct sale
  30. 30. 29 Electrovoz kurastyru zauyty LLP (25%) Fixed assets «Electrovoz kurastyru zauyty» LLP Buildings and constructions Constructions The main building with a warehouse 1 pcs 31 212,46 sq.m. Administrative building 1 pcs 1 571,70 sq.m. Store chemicals and paints and varnishes 1 pcs 267,30 sq.m. Warehouse cylinders helium, nitrogen and acetylene 1 pcs 236,84 sq.m. Compressor station №1 1 pcs 67,23 sq.m. Compressor station №2 1 pcs 36,08 sq.m. Checkpoint 1 pcs 18,40 sq.m. Rotating platform with a canopy 1 pcs 1 254 sq.m. Oxygen gasification station, carbon dioxide and argon 1 pcs 138,14 sq.m. Pumping station PAP 1 pcs 96,89 sq.m. Room for ramp bit acetylene gas 1 pcs 35,58 sq.m. Central heating unit 1 pcs 71,60 sq.m. Installations Railway sidings, Onsite network of water supply and sewerage, underground tank for automatic fire suppression, thermal network, network Offsite telephones, external power supply networks, roads, site diesel power, metal fences, outdoor unitized transformer substation 2-2000-10 / 0,4 № 1, transformer substation 2 KTPN-2000-10 / 0.4 №2, transformer substation PKK-2T-630-10 / 0,4 kV 29 pcs Equipment Cars and equipment 558 pcs Tool manufacturing and household equipment 555 pcs PC’s 184 pcs Others 649 pcs Direct sale
  31. 31. 30 Tulpar Talgo LLP (51%) 1. LLP "Tulpar-Talgo" is a modern high-tech enterprise specializing in the production of passenger cars for «Patentes Talgo S.L.U.» technology company. 2. In 2015, with the company «Talgo Kazakstan S.L.» (subsidiary of «Patentes Talgo S.L.U.») signed a preliminary contract for the sale of the asset 33 million. Euro. It made an advance payment in the amount of 23 million. Euro. 3. The choice of direct targeted sale recommended by independent consultants and supported by the existence of intent (confirmation letters, memoranda or agreements) for the second shareholder, who acts as the only possible buyers and brings to asset expertise and technological know-how (the holder of the patent PATENTES TALGO, Spain) Direct sale justification Location: Astana Shareholders: JSC “Remlokomotiv" – 99,99926%, Talgo Kazakstan S.L. – 0,00074% Main activity: design, assembly, production, export, transfer, technical maintenance of railway carriages Financial performance (thsd tenge) 31.12.2013 31.12.2014 31.12.2015 Chartered capital 9 615 004 9 615 004 9 615 004 Revenue 28 384 848 2 302 313 15 875 912 Net profit -4 641 343 -2 361 764 -3 730 413 Book value, incl. 20 749 957 39 334 402 43 791 417 Liabilities 15 539 980 36 192 412 42 179 133 Equity 5 209 977 3 141 990 1 612 284 Staff 123 257 295 Direct sale
  32. 32. 31 Tulpar Talgo LLP (51%) Fixed assets «Tulpar Talgo» LLP Buildings and constructions Constructions 13 pcs. 34932 sq.m. Administrative building 1 pcs 1579 sq.m. The main production building 1 pcs 31298 sq.m. Garage 1 pcs 421 sq.m. Sewage pumping station 1 pcs 12 sq.m.. Compressor station 1 pcs 141 sq.m. Boiler room 1 pcs 148 sq.m. Checkpoint 3 pcs 76 sq.m. Pumping station 1 pcs 91sq.m. Booster pump station 1 pcs 36 sq.m. inspection item 1 pcs 812 sq.m. Warehouse chemical varnishes 1 pcs 318 sq.m. Installations Rail access roads, sewage pumping station, Container platform №1, Boiler, Pump station Rainwater, thermal network, transformer substations KTP 1600-10 2/0, transformer substation 2 KTPN-2 * 2500-10 / 0.4 square 18 pcs. Inventory cars and equipment 279 pcs. Tool manufacturing and household equipment 1421 pcs. PCs 114 pcs. Other 1364 pcs. Direct sale
  33. 33. 32 KTZE-Khorgos Gateway LLP (49%) 1. LLP «KTZE-Khorgos Gateway» is the owner and operator of the largest in Central Asia, transport and logistics center, the so- called "dry porta", on the border with China 2. The choice of targeted direct sales recommended by independent consultants (Ernst & Young) and is supported by the presence of a memorandum (dated 17 March 2016) with the international logistics area of ​​the SCO in Lianyungang (China) 3. The memorandum provides for the joint promotion of projects in the area of ​​dry port SEZ in the Republic of Kazakhstan and the International Logistics SCO zone in Lianyungang, China, providing for the implementation of the asset LLC "GC Port Lianyungang" Location: Kazakh-China border Main activity: transshipment of goods from China and carriages back on FEZ "Khorgos-Eastern Gate" Direct sale justification Financial performance (thsd tenge) 31.12.2013 31.12.2014 31.12.2015 Chartered capital - - 5 325 553 Revenue - - 88 330 Net profit - - -261 396 Book value, incl. - - 40 670 263 Liabilities - - 499 806 Equity - - 40 170 457 Staff - - 117 Direct sale
  34. 34. 33 KTZE-Khorgos Gateway LLP (49%) Fixed assets LLP «KTZE-Khorgos Gateway» Equipment cars and equipment 118 pieces Tool manufacturing and households inventory 298 pieces PC’s 57 pieces Intangible assets Software 1645 pieces Direct sale
  35. 35. 34 KazATK1 JSC (100%) Financials (KZT ’000) 31.12.2013 31.12.2014 31.12.2015 Revenue 3,071,195 3,668,937 3,017,488 EBITDA - 276,852 217,183 366,748 Net profit/loss - 220,762 123,257 331,629 Book value of assets, including 9,758,990 10,048,334 9,861,547 • Fixed assets 9,736,139 10,027,106 9,841,971 • Intangible assets 22,851 21,228 19,576 Liabilities 977,975 1,287,829 912,896 Equity 9,803,241 10,367,397 10,608,419 Authorized capital 290,173 290,173 290,173 Headcount (FTEs) 1,136 1,295 1,173 1. JSC Kazakhstan Transport and Communications Academy named after M. Tynyshpaev, including: Akmola College of KazATK named after M. Tynyshpaev LLP, Aktau Transport College of KazATK named after M. Tynyshpaev LLP, Aktobe Transport and Communications College of KazATK named after M. Tynyshpaev LLP, Shymkent Transport College of KazATK named after M. Tynyshpaev LLP, Almaty Transport College of KazATK named after M. Tynyshpaev LLP, ATB+ LLP, Engineering Center of JSC KazATK LLP, RailwaysEcoEnergy LLP http://www.kazatk.kz/ Location: Almaty Estimate: as of June 1, 2016, (E&Y) — KZT 9,304,000,000 Company profile • Kazakhstan Transport and Communications Academy named after M. Tynyshpaev (KazATK) is a top higher technical education institution training specialists for railway (including urban electrical transport and metro) and motor transport, IT, telecom and finance structures. • The educational and research process in KazATK is provided by highly skilled teaching staff out of which more than 62% are D.Sc. and Ph.D., professors and A.P. The Academy runs colleges in Astana, Almaty, Aktau, Aktobe and Shymkent. • In 2013-2014 the Academy successfully passed institutional certification, in 2014-2015 — specialized certification in 11 Bachelor training programs and 10 Master programs, in 2015-2016 — in four Bachelor training programs and the first Doctorate training program
  36. 36. 35 KazATK JSC (100%) JSC KazATK Source: company data Type of education Number of persons Total number of students 31,779 Bachelor Department, including 9,790 • Intramural studies 7,170 • Remote learning • Extramural studies 6,480 Master Department 4,066 Doctorate Department 3,230 Secondary professional education 1,788 • Intramural studies 64,303 • Extramural studies Number of students in 2015 ATB+ LLP Engineering Center LLP Akmola College Almaty College Shymkent College Aktau College Aktobe College JSC KazATK
  37. 37. 36 Assets for privatization 1. Directly owned by the Fund 2. Kazmunaigas JSC 3. Kazakhstan Temir Zholy JSC 4. Kazatomprom JSC 5. Samruk-Energy JSC 2–7 9–20 22–35 37–40 42–53 Slides Visit us: www.privatization.sk.kz
  38. 38. 37 Astana Solar LLP (100%) Financials (KZT ’000) 31.12.2013 31.12.2014 31.12.2015 Revenue 1,014,465 4,237,470 1,990,454 EBITDA - 3,001,435 842,916 - 14,593,821 Net profit/loss - 5,504,288 - 2,807,394 - 29,799,312 Book value of assets, including 5,115,777 18,364,561 5,096,738 • Fixed assets 4,854,218 5,646,913 5,083,837 • Intangible assets 31,228 22,700 12,901 Equity 4,142,862 5,350,134 9,350,134 Headcount (FTEs) 127 190 146 http://www.astanasolar.kz/ Location: Astana Shareholders: NAC Kazatomprom (100%) Company profile • The company manufactures photovoltaic modules based on KazPV Kazakhstan silicon, as well as solar power stations. The plant was commissioned on December 25, 2012. • Design capacity of the Plant is minimum 50 MW, it is planned to increase it to 100 MW in future • The Plant owns: 5 ha land plot, buildings and facilities (total area of 9,745 m2) • Integrated quality management, environmental management and occupational health & safety management system in compliance with ISO 9001:2008, ISO 14001:2006 and OHSAS 18001:2007 implemented in the company
  39. 39. 38 Astana Solar LLP (100%) Types of products Model KZ PV 230 M60 Model KZ PV 270 M72 24 V А7.5 1 649х992х40 mm 220-240 W 19.5 kg 24 V А7.5 1 967х992х40 mm 250-280 W 28 kg
  40. 40. 39 Kazakhstan Solar Silicon LLP (100%) Financials (KZT ’000) 31.12.2013 31.12.2014 31.12.2015 Revenue 0 0 0 EBITDA -532,956 -371,705 -652,603 Net profit/loss -578,739 -985,335 -9,644,261 Book value of assets, including 13,847,791 15,689,792 10,360,171 • Fixed assets 684,283 664,003 619,937 • Intangible assets 3,891 3,511 1,693 Construction in progress 10,212,812 11,134,667 4,517,534 Equity 6,260,789 6,175,454 -1,817,460 Headcount/actual (FTEs) 437/319 437/366 437/329 http://www.kazsolarsilicon.kz/ Location: Ust-Kamenogorsk, East Kazakhstan Region Shareholders: NAC Kazatomprom (100%) Company profile • The company manufactures photovoltaic cells from solar grade silicon used for manufacture of photovoltaic modules which are used for converting solar energy into electric power. Established in August 2011 • Design capacity of the Plant is minimum 60 MW a/m • Technology partner in ‘solar’ grade silicon ingot production and their further processing to produce silicon wafers — ECM Technologies (France) • Supplier of silicon wafer to photovoltaic cell conversion technology — SEMCO Engineering (France)
  41. 41. 40 Kazakhstan Solar Silicon LLP (100%) Land plot Land plot m2 52,786 Buildings and facilities Buildings m2 20,456 Kazakhstan Solar Silicon LLP The key business is commercial manufacture of photovoltaic plates based on multicrystalline silicon Astana Solar LLP – in photovoltaic modules production based on Kazakhstan silicon and their application MK KazSilicon LLP Mining, primary processing of gangue quartz of Sarykol deposit (Ushtobe, Almaty Region) and production of metallurgic silicon
  42. 42. 41 Assets for privatization 1. Directly owned by the Fund 2. Kazmunaigas JSC 3. Kazakhstan Temir Zholy JSC 4. Kazatomprom JSC 5. Samruk-Energy JSC 2–7 9–20 22–35 37–40 42–53 Slides Visit us: www.privatization.sk.kz
  43. 43. 42 Almaty Power Plants JSC (100%) Financials (KZT ’000) 31.12.2013 31.12.2014 31.12.2015 Revenue 48,694,302 51,909,464 53,174,968 EBITDA 11,589,098 11,973,717 11,814,975 Net profit/loss 5,547,422 3,123,285 -11,014,934 Book value of assets, including • Fixed assets 63,634,331 75,140,631 87,940,951 • Intangible assets 160,170 256,741 182,483 Equity 55,437,572 57,699,992 46,236,483 Headcount (FTEs) 3,263 3,257 3,259 Technical parameters Electric power Heat Installed power 1.239 MW 3.922 Gcal/hr Generation in 2015 5,086 mn kWh 5 mn Gcal 70% of market share in Almaty and Almaty Region Natural monopoly subject in the region www.ales.kz Location: Almaty Shareholders: JSC Samruk Energy - 100% Book value as of 30.06.2016: KZT 49,186,113,000 Key business: Heat and electric power generation
  44. 44. 43 Eight production units 1. CHP-1 (145 mW; 203 Gcal/hr) 2. CHP-2 (510 mW; 176 Gcal/hr) 3. CHP-3 (173 mW; 335 Gcal/hr) 4. Hydroelectric power plant chain (46.9 MW) 5. Kapshagai hydroelectric power plant (364 MW) 6. Western thermal plant 7. Repair Plant 8. Fuel unloading and acceptance center Almaty Power Plants JSC (100%)
  45. 45. 44 Alatau Zharyk Company JSC (81.58%) Financials (KZT ’000) 31.12.2013 31.12.2014 31.12.2015 Revenue 28,493,426 31,430,908 32,661,752 EBITDA 8,418,363 9,719,635 11,320,125 Net profit/loss 4,363,489 3,674,045 654,873 Book value of assets, including • Fixed assets 87,565,383 91,480,528 92,019,201 • Intangible assets 151,991 534,758 575,464 Equity 63,303,084 66,138,847 62,891,414 Headcount (FTEs) 3,939 3,845 3,877 Technical parameters Production capacity, electric power 3,069 mn kW Service territory 105,400 km2 Line length 29,225.0 km Transmission volume in 2015 6.2 bn kWh http://www.azhk.kz/ Location: Almaty Shareholders: JSC Samruk Energy — 100% Book value as of 30.06.2016: KZT 65,401,695,000 Key business: Electric power transmission and distribution 2,5 mln consumer in Almaty and Almaty region Natural monopoly subject in the region Open two-stage tender
  46. 46. 45 Alatau Zharyk Company JSC (81.58%) Production units 1. 15 service areas 2. 211 substations 3. 6,989 transformer substations Open two-stage tender
  47. 47. 46 Mangistau electricity distribution company JSC (78,64%) Financial performance (thsd tenge) 31.12.2013 31.12.2014 31.12.2015 Revenue 7 831 097 8 655 210 8 985 664 EBITDA 2 782 602 2 647 764 3 295 060 Net profit 1 324 754 1 200 109 1 050 343 Net book value, incl. capital assets 13 584 530 16 597 944 21 083 703 intangible assets 109 034 141 020 261 876 Owned capital 7 314 301 8 411 960 9 518 682 Number of staff 643 647 653 http://www.mrek.kz/ Location: Mangistau region Shareholders: Samruk-Energy - 78,64%, National Pension Fund - 13,54%, others - 7,82% Main activity: Energy distribution Recommended started price for 78,64%(KPMG, 05/10/2016): 7,3 bln. tenge ($22 mln) Subject of natural monopoly 100% market share in Mangistau region Open two-stage tender 1. Not to dispose shares within 3 years from the date of transfer of the shares to the buyer; 2. To keep the profile of activity of the asset – energy distribution at Mangistau region; 3. To improve the technical condition of electricity networks, substations and other equipment of the asset to ensure the reliability of electricity supply, in accordance to the Order of the Minister of energy of the Republic of Kazakhstan from 20.05.2016 #214; 4. To save over 12 month from the date of purchase of the asset existing labor contracts with employees of the asset (except in cases of termination of employment contract by initiative of employee, termination of employment contract with workers who are members of the executive bodies). Do not disolve employment contracts for the following reasons: downsizing number of staff; decline in production capacity, works and services, which caused deterioration of the economic status of the employer; 5. In the absence of confirmation of the necessary experience in the industry, potential byer must keep over 12 month from the purchase of the asset size and composition of technical experts, and not to terminate the employment relationship with them; 6. To ensure repayment of the debt to Samruk-Energy (if available at the time of the transaction) 7. To ensure the payment of dividends declared in favor of Samruk-Energy for the period prior the transfer of the ownership of the shares to the byer. Investment conditions for open two-stage tender
  48. 48. 47 Brief description of the asset: • Created in 1966 as portfolio company of “Kazakhstanoil” • Subject of large energy distribution monopoly at Mangistau region; • 6 energy zones; • 57 substations; • 431 transforming substations; • Network spread – 6 170 km. • Consumers – large oil extraction companies of Mangistau region (90% consumers base of the asset). • Market share at the Republic of Kazakhstan - 2,5%, at Mangistau region – abot 50%. Mangistau electricity distribution company JSC (78,64%) Open two-stage tender
  49. 49. 48 East Kazakhstan Regional Energy Company JSC including Shygysenergotrade LLP (100%) Financial performance (thsd tenge) 31.12.2013 31.12.2014 31.12.2015 Revenue 26 977 790 28 699 959 30 304 832 EBITDA 4 646 455 3 636 422 (431 155) Net profit 1 303 272 (484 858) (3 620 050) Net book value, incl. capital assets 35 134 218 35 724 330 36 636 096 intangible assets 102 259 230 607 320 853 Owned capital 7 561 530 7 561 530 7 348 479 Number of staff 2 940 2 990 3 038 http://www.ekrec.kz/ Location: East Kazakhstan region Shareholders: Samruk-Energy JSC - 100% Main activity: Energy distribution, electricity sales at EK region Recommended started price for 100% (KPMG, 05/10/2016): 9,5 bln. tenge ($28 mln.) Subject of natural monopoly 100% market share in East Kazakhstan region Open two-stage tender 1. Not to dispose shares within 3 years from the date of transfer of the shares to the buyer; 2. To keep the profile of activity of the asset – energy distribution at East Kazakhstan region; 3. To improve the technical condition of electricity networks, substations and other equipment of the asset to ensure the reliability of electricity supply, in accordance to the Order of the Minister of energy of the Republic of Kazakhstan from 20.05.2016 #214; 4. To save over 12 month from the date of purchase of the asset existing labor contracts with employees of the asset (except in cases of termination of employment contract by initiative of employee, termination of employment contract with workers who are members of the executive bodies). Do not disolve employment contracts for the following reasons: downsizing number of staff; decline in production capacity, works and services, which caused deterioration of the economic status of the employer; 5. In the absence of confirmation of the necessary experience in the industry, potential byer must keep over 12 month from the purchase of the asset size and composition of technical experts, and not to terminate the employment relationship with them; 6. To ensure repayment of the debt to Samruk-Energy (if available at the time of the transaction) 7. To ensure the payment of dividends declared in favor of Samruk-Energy for the period prior the transfer of the ownership of the shares to the byer. Investment conditions for open two-stage tender
  50. 50. 49 Brief description of the asset: • Created in 1949 and in 2012 transferred to Samruk-Energy JSC; • Subject of large energy distribution monopoly at East Kazakhstan region; • Includes portfolio company, selling electricity at the region – Shygysenergotrade LLP • 313 substations; • 6,513 transforming substations; • Operates for the whole region, including: • 15 districts, • 10 cities, • 754 towns, • 244 settlements. • Network spread - 34 552,14 km. • Asset selling with 100% portfolio company – Shygysenergotrade LLP East Kazakhstan Regional Energy Company JSC including Shygysenergotrade LLP (100%) Open two-stage tender
  51. 51. 50 Aktobe CHP JSC (100%) Financial performance (thsd tenge) 31.12.2013 31.12.2014 31.12.2015 Revenue 5 110 160 5 710 243 6 108 966 EBITDA 1 621 369 863 500 785 902 Net profit 1 018 245 386 036 360 532 Net book value, incl. capital assets 7 122 585 8 304 525 9 693 381 intangible assets 26 780 26 610 22 140 Owned capital 7 098 512 7 179 030 7 424 029 Number of staff 608 622 617 http://www.aktobetec.kz/ Location: Aktobe region Shareholders: Saмruk-Energy JSC - 100% Main activity: Energy generation Recommended started price for 100% (KPMG, 05/10/2016): 7,7 bln. tenge ($23 mln.) Subject of natural monopoly 100% market share in Aktobe 1. Not to dispose shares within 3 years from the date of transfer of the shares to the buyer; 2. To keep the profile of activity of the asset – energy generation; 3. To improve the technical condition of capital assets to ensure reliable heat-assistance and electricity supply on a basis of principles of curbing the number of technological violations, in accordance to the Order of the Minister of energy of the Republic of Kazakhstan from 20.02.2015 #121; 4. To save over 12 month from the date of purchase of the asset existing labor contracts with employees of the asset (except in cases of termination of employment contract by initiative of employee, termination of employment contract with workers who are members of the executive bodies). Do not dissolve employment contracts for the following reasons: downsizing number of staff; decline in production capacity, works and services, which caused deterioration of the economic status of the employer; 5. In case of the absence of confirmation of the necessary experience in the industry, potential byer must keep over 12 month from the purchase of the asset size and composition of technical experts, and not to terminate the employment relationship with them; 6. To ensure repayment of the debt to Samruk-Energy (if available at the time of the transaction) 7. To ensure the payment of dividends declared in favor of Samruk-Energy for the period prior the transfer of the ownership of the shares to the byer. Investment conditions for open two-stage tender Open two-stage tender
  52. 52. 51 Brief description of the asset: • Created in 2006 on a basis of electricity station, constructed in 1943; • Purchased for 2,4 bln. tenge by Alatau Zharyk Company in 2015 ; • Transferred to Samruk-Energy JSC in 2015; • Subject of a large energy generation monopoly at Aktobe region;; • Asset is a single energy generation object for centralized heating supply of Aktobe; • Installed electrical capacity - 118 MW; • Installed heating capacity - 1 139 Gcall; • Available heating power – 878 Gcall. Aktobe CHP JSC (100%) Open two-stage tender
  53. 53. 52 Tegis Munai LLP including Mangyshlak Munai LLP (100%) Financial performance (thsd tenge) 31.12.2014 31.12.2015 Revenue - - EBITDA Net profit -223 055 -275 692 Net book value, incl. capital assets 54 395 39 122 intangible assets 3 352 1 644 Owned capital 3 859 773 6 754 981 Number of staff 22 22 Geological resources (2015) 16 475 mln m3 Location: South Kazakhstan region Shareholders: Samruk-Energy JSC - 100% Main activity: The development of the gas field, generation of heating and electrical power Recommended started price for 100% shares (KPMG, 05/10/2016): 15 bln. tenge ($45 mln) Open two-stage tender 1. Not to dispose shares within 1 year from the date of transfer of the shares to the buyer; 2. In case of the absence of confirmation of the necessary experience in the industry, buyer must save over 12 month from the date of purchase of the asset existing labor contracts with technical employees of the asset, and not to terminate the employment relationship with them; 3. To ensure repayment of the debt to Samruk-Energy (if available at the time of the transaction) 4. To ensure the payment of dividends declared in favor of Samruk-Energy for the period prior the transfer of the ownership of the shares to the byer. A significant part of the investment and operational liabilities for a new owner will be specified in the contract of production and also will be approved by the Ministry of energy of the Republic of Kazakhstan Investment conditions for open two-stage tender
  54. 54. 53 Initial gas-in-place (2015 г.) 16 475 mln. sq.m • The gas field is located nearby industry areas of Zhezkazgan, Kyzylorda, Taraz and Turkestan; • At the current time all exploratory operations at the gas field are finished, wellsite temporary conserved. • Asset selling with 100% portfolio company - Mangyshlak Munai LLP Brief description of the asset: • Owner of 100% shares in Mangyshlak Munai LLP, which owns production license for gas field “Pridorozhnoe” at the South Kazakhstan region in accordance to the contract for subsurface use #2775 from 29/08/2008. Tegis Munai LLP including Mangyshlak Munai LLP (100%) Open two-stage tender

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