Annual Report / Transtelecom / 2021

Address
of the Chairman
of the Board
of Directors

Dear shareholders, investors,
partners and customers!

I am pleased to present the annual report of Transtelecom JSC.

2021 was the year of adaptation to new reality. We understood that COVID-19 had not gone anywhere. But we have been moving forward. The analysis revealed that the Company has successfully achieved its strategic goals, developed its services, and strengthened its position in the telecommunications market of the country. We have succeeded in fundamentally restructuring the basic principles of management, accepting the realities and conditions of the market, and responding quickly to changes.

It is no secret that organizations that embrace the concept of long-term value creation in business achieve better financial results, attract and retain highly skilled employees, and gain a long-term competitive advantage. Therefore, Transtelecom has integrated the principles of sustainable development into its strategy. For the company, environmental and social responsibility and open corporate governance are no longer just buzzwords; they are now essential elements of what we do.

Today, the Company complies with all legal regulations and fulfills its obligations, builds respectful and mutually beneficial relationships with customers, partners, suppliers, and employees, improves transparency, follows ethical business approaches, and implements best corporate governance practices. In addition, the Company takes care of the environment and promotes high environmental standards among customers and partners.

Another important part of our activities is upholding decent working conditions and offering opportunities for personnel development. It’s no secret that the right team is 90% of a company’s success. But IT trends and tendencies are changing very rapidly. In order to keep up with the times, our employees upgrade their skills to broaden their knowledge base and add value to the market.

I cannot stress enough the fact that in 2021, the Company has done a lot to create a favorable climate in the country. Despite all the difficulties, we have remained a stable and technically reliable company. I am sure that Transtelecom JSC will continue to maintain the dynamics of its development. I would like to point out that all the indicators achieved in the reporting year allow the Board of Directors to praise the performance of the Management Board, top management, and employees. At the conclusion of my remarks, I would like to express my sincere gratitude and appreciation to everyone, including our shareholders, partners, and management, for diligent performance of their duties, as well as our personnel for dedication and creative thinking in their work. I also thank our customers for contributing to our development and helping us improve.

Nurali
Aliyev

Chairman of the Board of Directors of Transtelecom JSC

Address
of the Chairman
of the Management
Board of the
Company

Dear shareholders, partners
and colleagues!

2021 was a year of qualitative transformation for many sectors of the economy. Telecom industry is not an exclusion. The country is no longer shocked by the pandemic, and tensions have decreased. Our company has continued to adapt to the demands of time, society, and the economy. We’ve demonstrated to everyone our ability to respond quickly to events.

In 2021, the number of Internet users continued to grow steadily. The majority of the workers continued to work from home, and the students continued their distance learning. As part of the project to provide broadband access to rural areas of the Republic of Kazakhstan using FOCL technology, the construction of the fiber-optic communication line from the Transtelecom node in 2021 gave about 19,000 residents of remote settlements in the country access to high-speed Internet. Most of the subscribers were in Zhambyl, Turkestan, Akmola, Kostanay, and East Kazakhstan regions.

The coronavirus pandemic has, incidentally, accelerated business digital transformation and compelled organizations to adopt cutting-edge solutions in order to remain competitive. Cloud technologies have become mainstream for the business community. As we all know, providing customers with the products and services they require is the primary rule of successful business processes. We continued to construct data centers, and in July we opened the public to the Aktau data center, which has more than 1,600 square meters of floor space. It should be noted that the company currently has 9 data centers geographically distributed throughout the country, which is a clear competitive advantage over other players. Customers have access to services like server colocation, cloud infrastructure (IaaS), backup, administration, etc.

2021 also became the year of integration processes for our business. Several memoranda were signed with large foreign companies at once. In particular, with Plug and Play, the world leader from Silicon Valley, which unites more than 40 thousand startups on its platform. In the future, our company intends to develop IT and TELCO services through corporate innovation. I think it will help solve current business problems and create new value for customers and partners.

As I reflect on the past year, I am able to see how the Company is actively changing to meet goals, increase reliability, and create new opportunities. To date, Transtelecom has made a significant contribution to the development of the regions where it operates, participating in the modernization of infrastructure and contributing to solving important issues. For example, as part of the development of the Smart City Program in Almaty, the company has for the first time launched a Smart Pedestrian Crossing system. The aim of the project is to improve road safety. In addition, the Company implemented a project to install a video surveillance system in the village of Kosshy. As a result, 62 cameras with number plate recognition function were installed there.

As you can see, we continued to develop the company’s promising areas in 2021 while strengthening position of Transtelecom JSC in the traditional and digital segments. But if not for the professionalism and superior credentials of our personnel, none of this might have occurred. Our entire large and collegiate team continues to confidently pursue our mission of leading Kazakhstan’s people towards digital prosperity. I want to express my gratitude to all of the Company’s employees for their diligent work, skill, and innovative ideas. However, there is still much work to be done. I have no doubt that we are eagerly anticipating new, serious tasks, ambitious plans, and accomplishments!

Yelnar
Ruslanovich
Adaybekov

Chairman of the Management Board of Transtelecom JSC

History of
development

On the basis of the order of the Kazakhstan Temir Zholy Republican State Enterprise On optimizing the signaling and communications management system», a subsidiary state enterprise Transtelecom was established.

August. A Resolution of the Government of the Republic of Kazakhstan «On measures for reorganization of Kazakhstan Temir Zholy RSE and demerger of Transtelecom f Open Joint Stock Company with 100% state participation» was issued.
November. Date of primary state registration of Transtelecom JSC.

Implementation of an automated billing system and a technical accounting system.
A satellite communication network has been created.
The installation and implementation of data link relay began, and a wide range of new services, including internet access, were made available to customers.
September. The introduction of a digital automatic telephone exchange at the Almaty station.
A centralized contract has been signed for connection to the network of Kazakhtelecom Joint Stock Company as a telecommunications operator.

Transtelecom OJSC was renamed to Transtelecom JSC.
More than 30 new digital PBX have been installed.

March. The construction of the FOCL on the Almaty-Astana section with a length of 1,340 kilometers has been completed.
April. Opening of the Communication Network Management Center and commissioning of a unified FOCL monitoring and administration system.
November. A certificate of compliance with International Quality Management Standards ISO 9001-2000 was obtained.

March. The Company’s participation in the international telecommunications exhibition CEBIT in Hanover, Germany.
March. The Company received the International Foundation’s gold medal «For High Quality in Business Practice».
November. In the city of Almaty, 2 operating telegraph stations APSK 120/120 and AT-PS-PD 72/64 were replaced with the first digital station «Vector-2000 Telegraph Switching Server».

September. The «POTOK» automated calculation system has been implemented.

January. Start of modernization of telegraph stations in Astana (2 units), Kokshetau, Karaganda, Kostanay, Ekibastuz with replacement of 6 operating AT-PS-PD telegraph stations by one digital Vector-2000 telegraph switching server.
February. A «Primary Baseline Network» center was created to coordinate the activities of the primary backbone network and FOCL sections.
March. For the first time in the history of the Company, a 45 Mbit Astana-London channel was organized and put into operation for Orange.
April. SDH network of KTZ operational and technological communication was built on the Almaty-Astana section (configuration of equipment, software, and testing).
July. Territorial sections of the backbone network have been created in the cities of Almaty, Shu, Kokshetau, Karaganda, Astana.
August. A virtual POP was organized in Moscow on M9, with a capacity of STM1 for rational use of the Company’s resources, as well as for operational work on providing services to clients outside Kazakhstan.
October. After completing testing of the STM1 level channel Astana-Petropavlovsk-Atyrau, it was possible to connect the telephone lines of the Atyrau branch with those in Almaty, Karaganda, Astana, and Kokshetau as well as to offer channel lease services to customers in Atyrau.
October. Two VC3S Hong Kong-Almaty-Moscow have been tested for British Telecom. British Telecom projects have been implemented in other cities of Kazakhstan on the Company’s transport network.

December. A contract was signed with Alcatel-Lucent for the supply and installation of a large backbone network. The project was funded by the European Bank for Reconstruction and Development.
The 128 satellite communication systems, which were commissioned a year earlier, passed the electromagnetic compatibility tests in the Republican Center for Space Communications and Electromagnetic Compatibility of Radioelectronic Means and were registered with the Agency for Informatization and Communication of the RoK following by permit for the radio-frequency spectrum.

June. Data transmission services for Tulpar-1 and Tulpar-2 branded trains Astana-Almaty-Astana were put into commercial operation (order of the Company No. 174-P dated 01.06.2010).
June. In order to organize transit telephone traffic in Almaty to the Public Telecommunications Network and pass-through traffic to international directions and networks of cellular operators, the operator networks of KazTransNet LLP and Space.KZ LLP have been connected to the company’s network.
July. The HUB (central control station) OP-39 was put into operation by the decision of the State Commission.
August. The satellite ground data and voice transmission network «High-Speed Passenger Traffic» was switched to the Company’s control station in Astana (OP-39).
September. A satellite data and voice transmission terminal has been installed on medical train No. 3 for the organization of the VCC based on the decision of the NC «Kazakhstan Temir Zholy» JSC.

The Department of Design and Development has carried out work on connecting the Company to the Novoishimsky village to PDN.
September. To organize communication channels and connect subdivisions of NC KTZ to the backbone, branches of the 3.9 thousand km backbone cable were created. At that time, the total length of the FOCL was 6.6 thousand km.

The first stage of the 96 km Aktobe-Kandyagash section of the FOCL has been completed.
A monitoring control system (cable network) located along the FOCL route has been launched.

Channel organization for the Astana-Schuchinsk Toll Road project and switch and router configuration for toll roads for EnergoRemService, Monitoring Service (Vlan) – in collaboration with Kazsatnet and Astel, Toll Collection Service – in collaboration with Kazteleport.

Work has been organized to install new SkyEdge-1 satellite earth stations at 20 railway stations.
At the end of the year, 856 sections of diesel locomotives and 983 sections of electric locomotives were equipped with an automated control system Energy Dispatching Traction (ACS EDT) hardware and software complex and put into commercial operation as part of the strategic project of the Energy Dispatching Traction System.
The length of the FOCL is 8,139 km.
Telephony, internet and videoconferencing services for the Salamatty Kazakhstan, Jardem and Densaulyk medical trains have been organized on an ongoing basis.

Commencement of the privatization of the Company.
September. Deployment of the Kaizen Lean Manufacturing process for production improvement and management.
December. In accordance with Resolution No. 1141 of the Government of the Republic of Kazakhstan «On Certain Privatization Issues for 2016-2020», the Company is included in the list of assets to be transferred to the competitive environment in a priority order – 26% minus 1 share.
December. In Paris, the Company deployed 100G DWDM optical transport equipment by Ekinops on an optical network covering the entire country, including the border with China, which is part of a major network between China and Western Europe.
December. The Company joined the Kazakhstan Association of Automation and Robotics.
Within the framework of the ACS EDT project, the equipment of locomotives with the ACS EDT software and hardware complex has been completed. Since the beginning of the project, 1,240 sections of diesel locomotives and 1,043 sections of electric locomotives have been equipped.
The length of the FOCL is 10 954,2 km.
Completion of research and development work on the HW Automated Control System. Start of replication on the RoK railway mainline.

February. The Company is a sole integrator for the implementation of IT, automation and telecommunication solutions for the NC KTZ group of companies under the Transformation Roadmap.
February. Accreditation and commissioning of the Certification Center of the Company.
May. Participation in the largest annual conference devoted to the growth of the telecommunications transport network market in Russia and the CIS, the VII International Conference «Transport Networks Russia 2016».
May. Official sponsorship of the World Women’s Boxing Championship in Astana, where 12 licenses for the Summer Olympic Games in Rio de Janeiro were played out.
June. The contract of purchase and sale of 49% of the Company’s shares has entered into force.
July. The National Business Rating Union reports that the company is awarded ‘Industry Leader’ status.
August. The Digital Mine information system was launched at a uranium mining company in South Kazakhstan.
August. At the Khadjimukhan Munaitpasov Stadium, the Company’s first Summer Sports Contest welcomed 16 sports teams.
November. A memorandum of cooperation for the project «Provision of Broadband Internet Access (BBA) to Rural Settlements with Population Over 250» was signed during the bilateral meeting between China Telecom Global Limited and the Company.
November. The Company was the general partner of the largest international exhibition and conference ASTEX 2016.
The length of the FOCL is more than 15,000 km.

The results of the open two-stage competition for the sale of 26% minus 1 share have been summed up, the winner has been determined.
The Company’s Development Strategy until 2026 has been approved.
Launch of SOC-service for cyber security (Security Operation Center).
A new organizational structure of the Company has entered into force.
Participation as a partner of the international exhibition «ASTANA EXPO-2017».

The contact center of the Company with a single dialer number 191 has been launched.
The company has rebranded itself. Part of the rebranding is the change of the trademark from Transtelecom to TTC.
Transtelecom JSC was an advertising partner for the Golovkin-Martirosyan boxing match.
A competition for recent undergraduate graduates is run by the company in its search for talented young people.
The Company and Waves Platform have agreed to work together to integrate the Vostok blockchain platform, which is based on the Company.
Commissioning of two new modular data processing centers in Astana near the building of the Emerald Quarter business center.
JSC Transtelecom, as the first cloud provider, connected a private cloud to the Unified Transport Network of government agencies.
The successful long-term migration of SAP’s KTZ virtual infrastructure from the old Transtelecom cloud to the new one, which began in July, has been completed.
The Company has signed a contract for the largest joint PPP project in Kazakhstan to provide Kazakhstan villages with broadband Internet.

Connection of free WI-FI in the Almaty metro as part of the implementation of the «Smart Almaty» concept.
Transtelecom JSC has been identified as the fiscal data operator in Kazakhstan, launching the FDO service.
Launch of a new transit corridor from China to Russia and Europe with capacity from 500 Gbps.
Establishing a unified BI.ZONE platform for cyber security services in Kazakhstan in cooperation with Sberbank’s subsidiary.
Award in the «LEVEL UP» nomination of the international business award «WOW!HR», with the project «Involvement in improvements. Transtelecom gamification».
Award in the nomination «Kazakhstan» with the project «TTC Digital HR» in the annual award «HR brand Central Asia 2019».
A plan to provide rural settlements with Internet access has been implemented. The project covered 9 regions of Kazakhstan.

The project «Provision of broadband access to rural settlements of the RoK using FOCL technology» to connect 429 settlements to broadband access to the Internet has been completed.
The project for the construction of data center buildings with IT resource infrastructure for the client in the cities of Karaganda, Kyzylorda, Aktau, Atyrau, Aktobe, Uralsk and Zhezkazgan was implemented.
Functional Strategies of Transtelecom JSC blocks have been approved.
A new organizational structure has been introduced.

Unit Telecom LLP became the official owner of a 75% stake minus one share of Transtelecom JSC.
In Almaty, 9 underground stations now have WI-FI access from Transtelecom JSC. The project was implemented within the framework of the Digital Kazakhstan program.
Transtelecom has signed a memorandum of cooperation with operators from Uzbekistan and Kyrgyzstan within the framework of TransCaspian Fiber Optic (TCFO).
Transtelecom JSC and Türk Telekom International signed a Memorandum of Cooperation within the TransCaspian Fiber Optic (TCFO) project. The parties plan to jointly develop the telecommunications corridor.
Transtelecom JSC joined the Association of oil service companies of Kazakhstan.

The Company
in Figures

4,823

Net profit – 4,823 million tenge

41

EBITDA margin – 41%

34,129

EBITDA – 34,129 million tenge

85,449

Income – 85,449 million tenge

84,615

Revenue – 84,615 million tenge

35,866

Equity capital – 35,866 million tenge

58,429

Cost of sales – 58,429 million tenge

7,341

General administrative expenses – 7,341 million tenge

3,358

Number of employees – 3,358 people

25,633

Income per 1 employee – 25,633 thousand tenge

870,932

Local communication services – 870,932 thousand tenge

489,805

Long-distance domestic and international telephony services – 489,805 thousand tenge

9,805,743

Internet access services – 9,805,743 thousand tenge

1,235,760

Telegraphic communication – 1,235,760 thousand tenge

4,827,369

Satellite communication and data transmission services – 4,827,369 thousand tenge

13,362,935

FOCL backbone network leasing services – 13,362,935 thousand tenge

4,184,60

International transit – 4,184,604 thousand tenge

1,249,108

Rural settlement services – 1,249,108 thousand tenge

5,483,885

OTC service – 5,483,885 thousand tenge

130,847

OTT and equipment rental – 130,847 thousand tenge

30,426

The number of fixed lines of individuals – 30,426 subscribers

87,072

Number of fixed BBA ports – 87,072 ports

11,655

Number of paid TV connection points – 11,655 subscribers

Key
performance
indicators

Financial
indicators

Performance
indicators

Estimated
indicators

Information
about assets

Main
events
of 2021

J a n u a r y

In Kyzylorda, the first regional IT Park was provided with high-speed Internet using GPON technology.
An intelligent video surveillance system was connected in the Employment Center of Shymkent.

F e b r u a r y

Transtelecom has laid a 25km-long broadband optical trunk line from Nur-Sultan to the village of Kosshi as part of the Digital Kazakhstan program. The volume of investments in this area amounted to 228 million tenge.
Transtelecom JSC participated in «Digital Forum 2021.» The session was opened by the President of Kazakhstan Kassym-Jomart Tokayev.
On 5 February 2021, the Eurasian Intergovernmental Council (EICC) met with the Heads of Government of the member states of the Eurasian Economic Union. Transtelecom served as the operator, offering 320 Mbps of total bandwidth for Internet access services.
Unit Telecom LLP became the official owner of a 75% stake minus one share of Transtelecom JSC.

M a r c h

Chairman of the Management Board of Transtelecom JSC Ye.R. Adaibekov held a meeting with the executive chairman of Japan DX, Soji Suzuki, to discuss the implementation of investment projects of Japanese companies in the field of digital technologies.

A p r i l

In Almaty, 9 underground stations now have WI-FI access from Transtelecom JSC. The project was implemented within the framework of the Digital Kazakhstan program.
The management of Transtelecom JSC met with representatives of One Web company. The parties talked about business partnerships and cooperation with the goal of providing high-quality Internet to every region of Kazakhstan by May 2022.
Minister of Digital Development, Innovation and Aerospace Industry of the Republic of Kazakhstan Bagdat Musin visited the Company’s data center in Uralsk.

M a y

Employees of the Company together with volunteers congratulated veterans of the Great Patriotic War on Victory Day.
In Kosshy, a reporting meeting was held with the population on connecting to the Internet from Transtelecom JSC.

J u n e

On Children’s Day, the cities of Nur-Sultan and Almaty held a «Staying Children» event. The organizer was Transtelecom JSC.
Transtelecom JSC became as an organizational partner of the forum of the Presidential Youth Personnel Reserve.

J u l y

Prime Minister of the Republic of Kazakhstan Askar Mamin visited the data center of Transtelecom JSC in Aktau.

A u g u s t

A rocket with 34 OneWeb satellites was launched from the Baikonur cosmodrome. The Internet channel intended for the implementation of the pilot project was presented by the Company.
a new office of Transtelecom JSC was opened for individuals in the capital of the republic.

S e p t e m b e r

A working meeting was held between representatives of Transtelecom JSC and Murou System Company (Japan). The parties discussed the experience of digital transformation, told about their projects, and shared future plans.

O c t o b e r

Transtelecom has signed a memorandum of cooperation with operators from Uzbekistan and Kyrgyzstan within the framework of TransCaspian Fiber Optic (TCFO).
Transtelecom JSC and Suleiman Demirel University held a SDU Open Student Programming Championship (ICPC).
At the international Digital Bridge forum, Transtelecom JSC, Astana Hub and the world’s largest Plug and Play accelerator signed a Memorandum of Understanding.
As part of the competition for the best commentary, a guided tour to the data center was organized for journalists. The event coincided with the birthday of Transtelecom.

N o v e m b e r

Transtelecom JSC and the Academy of Logistics and Transport have announced their intention to conduct joint research on digitalization in railway transport.

D e c e m b e r

Transtelecom JSC and Türk Telekom International signed a Memorandum of Cooperation within the TransCaspian Fiber Optic project. The parties plan to jointly develop the telecommunications corridor.

34

A rocket with 34 OneWeb satellites was launched from the Baikonur cosmodrome.

Brief
overview

Company profile

Transtelecom Joint Stock Company (Transtelecom JSC, the Company) is one of the largest telecommunications operators in the Republic of Kazakhstan, specializing in telecommunications, digitalization, and system integration in the fields of IT, communications, automation, and energy.

Transtelecom JSC before re-registration was called Transtelecom Open Joint Stock Company, earlier – Transtelecom Subsidiary State Enterprise. It was established in accordance with the order of Kazakhstan Temir Zholy Republican State Enterprise dated 16 June 1998 No. 426 – Ц « On optimizing the signaling and communications management system» later on it was reorganized into an open joint stock company based on the Resolution of the Government of the Republic of Kazakhstan dated 4 August 1999 No. 1101 «On measures for reorganization of the Kazakhstan Temir Zholy Republican State Enterprise by the order of the Committee of state property and privatization of the Ministry of Finance of the Republic of Kazakhstan dated 1 September 1999 No. 135 «On reorganization of some subsidiaries of Kazakhstan Temir Zholy Republican State Enterprise.

The Company is the legal successor of all rights and obligations of the Transtelecom Subsidiary State Enterprise of the Kazakhstan Temir Zholy Republican State Enterprise. According to Kazakhstani law, Transtelecom JSC is a legitimate organization that is capable of acquiring and exercising both property and non-property rights for itself, as well as being both a plaintiff and a defendant in legal proceedings. It also has an independent balance sheet and bank accounts. The Charter, which outlines the legal foundation for the company’s organization and operation, was approved by the General Meeting of Shareholders of Transtelecom JSC No.13 on January 20, 2020. This charter governs how the company operates.

The main objectives of the activity of Transtelecom JSC are:

obtaining profit from commercial activities and using it in the interests of shareholders;
creation of modern information and telecommunication networks on the territory of the Republic of Kazakhstan and their integration into the global network of IT technologies;
provision of various types of advanced technologies to consumers in the territory of the Republic of Kazakhstan and abroad.

Through the expansion and modernization of networks, the company’s main goal is still to raise the standard of communications and services offered in Kazakhstan.

Transtelecom JSC operates as a telecom operator of the Republic of Kazakhstan and specializes in providing a wide range of telecommunications and infocommunication services, including international, long-distance, local telephony, and Internet access, as well as backbone communication channels.

Transtelecom JSC, which has a network of primary fiber-optic communication lines and offers communications with international operators of the Russian Federation, the People’s Republic of China, the Kyrgyz Republic, the Republic of Uzbekistan, and the Republic of Turkmenistan (under implementation), aims to increase transit telecommunications flows through Kazakhstan and develop transit potential.

Transtelecom JSC has a service network of 14 branches, its own network of 9 data centers, as well as contact centers throughout the country.

The address of the location of the executive body of the Company: 10 D. Kunayev Street, Yesil district, Nur-Sultan, Z05H9A7, Republic of Kazakhstan.

Share
capital structure
securities

In accordance with the Resolution of the Government of the Republic of Kazakhstan No. 280 dated 31 March 2014 «On approval of the Comprehensive Privatization Plan for 2014-2016» Transtelecom JSC was included in the list of companies to be privatized and alienated in a competitive environment.

As of 31 December 2021, the Company’s shareholders are: National Company «Kazakhstan Temir Zholy» JSC – 25% ownership plus 1 share, Unit Telecom LLP – 75% ownership minus 1 share.

A detailed historical background of the issue and placement of stocks is reflected in the annual report for 2017 in the section «Share capital structure».

National Company
«Kazakhstan Temir
Zholy» JSC

25

%+1

Unit Telecom LLP

75

%-1

Number of authorized ordinary shares, pcs.	6,471,089
Number of outstanding shares, pcs.	5,638,097
Number of unplaced, pcs.	832,992
Nominal value of one share, KZT	1,000
The amount of funds raised from the placement of shares, KZT	12,241,487,000
Preferred shares are not provided

Additional
paid-in capital

In 2020, the company transferred the difference of 244,190 thousand tenge between the nominal value and fair value of the interest-free loan received from NC KTZ JSC in 2011 from additional paid-in capital to retained earnings.

The decision of the Board of Directors of 22 July 2019 (Minutes No. 7/2019) was to issue bonds in the domestic market in an amount not exceeding 22 billion tenge.

On 10 January 2020, Baiterek National Management Holding JSC purchased the Company’s bonds issued on the Kazakhstan Stock Exchange in the amount of 10,000,000 thousand ten with a coupon rate of 11.5% per annum. According to the bond issue prospectus, the maturity of the issued bonds is 12 years.

On 19 November 2021, in accordance with the decision of the Board of Directors dated 27 October 2021 (Minutes No.8/2021), bonds in the amount of 15,000,000 thousand tenge were placed with a coupon rate of 13.0% per annum for 7 years.

Transtelecom JSC strives to respect the interests of shareholders by ensuring the growth of long-term value and sustainable development of its activities.

The decision of the General Meeting of Shareholders of August 04, 2016 approved the Dividend Policy (Minutes No. 1).

The objective of the Company’s Dividend Policy is to ensure a balance between the interests of the Company and Shareholders, predictability and transparency of the approach in determining the amount of dividends, conditions and procedure for their payment.

No dividends were declared or paid for the year 2021.

2021

01

The Com- pany today

Address of the Chairman of the Board of Directors

Dear shareholders, investors, partners and customers!

Nurali Aliyev

Address of the Chairman of the Management Board of the Company

Dear shareholders, partners and colleagues!

Yelnar Ruslanovich Adaybekov

History of development

The Company in Figures