Dear shareholders, partners, and colleagues!

The resilience of Transtelecom JSC in the face of challenging market conditions was confirmed in 2024. We sustained our momentum and fortified our status as a dependable technology partner for the state, enterprises, and citizens.

Revenue for the year totalled 88.9 billion KZT, with an operating profit (EBITDA) of 22 billion KZT and a margin of 25%. The net profit was 18.3 billion KZT. The return on equity was 34%, while the return on assets was 14.8%. Our debt burden is 1.46 times annual EBITDA, which provides us with the opportunity for investments.

The year’s most significant projects illustrated our capacity to address large-scale and significant social challenges. The government has acquired our data centre, DC-200, which is a direct recognition of the quality of our infrastructure services and a rational step towards reallocating investments to new development areas. The backbone communications network on 14 railway sections was modernised in collaboration with the national Company NC KTZ JSC. Our international presence was fortified through the establishment of centre in Moscow and Frankfurt, as well as the expansion of our partnerships with British Telecom, China Unicom, and China Mobile. This has bolstered our position on transit routes between Europe and Asia and enhanced the dependability of our services for our consumers. I would particularly emphasise the initiative in the Aktobe region: 150 schools have been equipped with emergency buttons and cameras, the data is transmitted to the regional situation centre and analysed by the incident detection system. This serves to safeguard children and provide parents with tranquilly.

In 2025, we will concentrate on four distinct priorities and their quantifiable consequences:

• Infrastructure for large clients and state-owned companies, including reliable networks, information security and platform solutions. The anticipated outcome will be cost savings for clients and the expansion of the contract portfolio.
• Cloud services:expansion of the product line and partner ecosystem through. The outcome is an increase in the proportion of subscription, predictable revenue.
• International channels:developing routes between Europe and Asia and strengthening partnerships.
• Services for private clients: expanding fibre-optic access and enhancing the consumer experience.

I would like to focus on the most critical aspect of our Company – our employees. Our team is the reason for the transformation of intricate engineering challenges into tangible benefits for both clients and the country. The Company’s trust is built on your professionalism, discipline, and dedication to achieving results. Your initiatives are supported by the Board of Directors, which acknowledges your contribution.

I am grateful to our shareholders for their confidence, our partners for collaboration on initiatives, and our team for integrity and accountability. We are confidently progressing and continuing to establish the benchmark for dependable digital infrastructure in Kazakhstan.

Dear colleagues, partners, and shareholders!

Transtelecom JSC experienced a period of transition and adaptation in 2024. We underwent a series of changes that enabled us to establish a sustainable operating model in the new market conditions.

Despite external constraints and obstacles, we were able to not only sustain but also enhance the Company’s profitability. This journey strengthened our market position and enabled us to achieve growth in key performance indicators.

Thus, the net profit totalled 18.3 billion KZT, while the revenue was 88.9 billion KZT.

One of the key events was the sale of our Data Centre 200 to the state, which exemplified the quality of Transtelecom JSC services.

Additionally, we upgraded the corporate data transmission network (CDTN) at 14 railway divisions in accordance with the agreement with NC KTZ JSC. This involved the implementation of a new SD-WAN product that features centralised management and connectivity to 18 locations, thereby guaranteeing a unified network, high throughput, and reduced operating costs.

Significant results were also achieved by the international business. Points of presence (PoP) were established in Frankfurt and Moscow, and collaboration with British Telecom and Chinese operators China Unicom and China Mobile was expanded. This bolstered Transtelecom JSC position on transit routes between Europe and Asia.

A scheme was implemented in 2024 to guarantee the security of educational facilities in the Aktobe region. Video surveillance systems and emergency buttons were installed in 150 schools, data is being transmitted to the regional police control centre and integrated with analytics for incident detection.

Further development of digital products, implementation of novel solutions at NC KTZ JSC, and the expansion of our regional presence are our top priorities for 2025.

I am grateful to all employees, partners and shareholders for their trust and support. We are prepared to explore new horizons and confront new challenges together.