Governance

GOVERNANCE

THE MAIN AREAS OF OUR CORPORATE GOVERNANCE POLICIES ARE;

strict compliance with shareholder interests and dedication to the protection of their rights;

introduction of uniform management standards across all Company structures;

improvement of Company information policy and internal control systems;

implementation of the principles of openness and transparency;

constructive engagement with the Company’s investors, employees and business partners;

active implementation of the best practices of corporate governance.

transparency of all processes to shareholders, investors and partners;

an active and competent Board of Directors;

consistent and collective decision-making.

LLC KRASNORDANEFTEGAZ PRINCIPAL GOVERNING BODIES INCLUDES THE FOLLOWING;

The General Meeting of Shareholders

The Board of Directors

The Management Board (collective executive body)

The President (sole executive body)

The Company’s principles and procedures of corporate governance are set out in its Charter and a number of other publicly available internal documents that collectively define the structure and authority of management and control over the Company’s financial and operating activities.

The Code of Corporate conduct and Code of Ethics contains additional obligations in the areas of openness, social responsibility and business ethics.

LLC Krasnordaneftegaz is building a corporate governance system practicing openness and transparency and strictly complying with Russian legislation. In its efforts to meet the highest international standards.

The Company constantly monitors and applies the international best practices of corporate governance.