For 20 years we have been introducing the best insurance solutions for a sustainable future for the people of Kazakhstan.

The sole shareholder of the company is the state represented by the Government of the Republic of Kazakhstan.

The founder of the Company is the Government of the Republic of Kazakhstan represented by the State Property and Privatisation Committee of the Ministry of Finance of the Republic of Kazakhstan.

The rights to own and use the state shareholding of the joint-stock company «Life Insurance Company «State Annuity Company» were transferred to the Ministry of Labour and Social Protection of the Population of the Republic of Kazakhstan (hereinafter – the Sole Shareholder) in accordance with Resolution of the Government of the Republic of Kazakhstan No. 659 of 27 May 1999 «On the transfer of rights to own and use state shareholdings and state stakes in organisations in republican ownership».

The Ministry of Labour and Social Protection of the Population of the Republic of Kazakhstan is a state body of the Republic of Kazakhstan that provides leadership in the social and labour sphere, as well as in the field of population migration within its competence.

The Sole Shareholder independently makes decisions on matters that fall within the shareholder's competence under the legislation and the Company's Charter, except for matters decided in agreement with the State Property and Privatisation Committee of the Ministry of Finance of the Republic of Kazakhstan.

Положение о Министерстве труда и социальной защиты населения РК

The Board of Directors is the Company's governing body that provides general management of its activities, except for matters that the legislation and the Company's Charter assign to the exclusive competence of the Sole Shareholder.

The purpose of the Board of Directors is to ensure the fullest observance of the shareholders' interests and to achieve the sustainable development of the Company.

The Company's Board of Directors includes representatives of the Ministry of Labour and Social Protection of the Population of the Republic of Kazakhstan and of the State Property and Privatisation Committee of the Ministry of Finance of the Republic of Kazakhstan, as well as independent directors elected to the Board of Directors in accordance with the current legislation of the Republic of Kazakhstan.

Date of election of the current Board of Directors: by decision of the Sole Shareholder No. 305 of 13.07.2026;
Current composition of the Board of Directors of JSC «LIC «SAC»:

In accordance with the requirements of the Company's Corporate Governance Code:

Members of the Board of Directors receive a fixed monthly remuneration; by decision of the Sole Shareholder, additional remuneration may also be paid for chairing the Board of Directors and for participating in and chairing committees of the Board of Directors.

Members of the Board of Directors who are civil servants do not receive remuneration.

The Sole Shareholder of the Company determines the amount and terms of remuneration and reimbursement of expenses for the member(s) of the Company's Board of Directors.

The terms of remuneration of independent directors are set out in the contracts concluded with them.

The total remuneration of the members of the Board of Directors is presented in the Company's Annual Report for the reporting period.

In 2024 the Company paid fixed remuneration to the members of the Board of Directors in the amount of 8,286 thousand tenge.

The terms and procedure for remunerating the members of the Management Board of JSC «LIC «SAC» are determined by the Internal Policy on remuneration, accrual of cash bonuses and other forms of material incentives for executives of JSC «LIC «SAC».

Remuneration of executives consists of a base salary and performance-based remuneration for the reporting period.

In 2024 the Company paid fixed remuneration to the members of the executive body in the amount of 93,919 thousand tenge.

In accordance with the Policy, in its audited annual financial statements for the year ended 31.12.2024 the Company reported variable remuneration to the members of the executive body in the amount of 38,891 thousand tenge.

The Corporate Secretary is an employee of the Company who is not a member of the Board of Directors and/or the Management Board, is appointed by and accountable to the Company's Board of Directors, and within the scope of their activities oversees the preparation and holding of meetings of the Company's Board of Directors, ensures the preparation of materials on agenda items for consideration by the Sole Shareholder and materials for meetings of the Company's Board of Directors, and monitors access to them.

The main tasks of the Corporate Secretary are:

1) ensuring interaction between the Sole Shareholder, the Board of Directors, the Management Board and other bodies and structural divisions of the Company;

2) organising and supporting the activities of the Company's Board of Directors and its Committees;

3) monitoring the implementation of and compliance with the principles and provisions of the Company's Corporate Governance Code;

4) ensuring the disclosure of information on corporate events in accordance with the requirements of the legislation;

5) within their competence, providing members of the Board of Directors with information on the organisation of the activities of the Company, its bodies, officials and structural divisions.

By decision of the Company's Board of Directors of 13 February 2026, Erlan Serikovich Serikbayev was appointed Corporate Secretary of the Company effective 16 February 2026

Contact information: Office 306, 30 Mangilik El St., Astana, 010000, Republic of Kazakhstan

Phone: +7 (7172) 916-333 (ext. 1078)

E-mail: y.serikbayev@gak.kz

Кодекс корпоративного управления (с изменениями и дополнениями) от 19.05.2025 г.

Отчет по корпоративного управления от 20.12.2024 г.

Положение о Корпоративном секретаре

Ombudsman – a person appointed by the Company's Board of Directors whose role is to advise employees of the Company who approach them and to assist in resolving labour disputes, conflicts and problematic social and labour issues, as well as in ensuring that the Company's employees observe the principles of business ethics.

The role of the Ombudsman is to advise employees and parties to labour disputes or conflicts who approach them and to help them work out a mutually acceptable, constructive and feasible solution in compliance with the legislation of the Republic of Kazakhstan (including confidentiality where necessary), and to assist in resolving problematic social and labour issues of both employees and the Company.

The Ombudsman is appointed from among the Company's employees by decision of the Board of Directors and is subject to re-election every 2 (two) years. The Board of Directors decides whether to extend or terminate the Ombudsman's powers.

By decision of the Company's Board of Directors of 11 June 2026, the duties of the Company's Ombudsman were assigned to project manager Assel Kuandykovna Makanova for the term set by the decision of the Board of Directors.

Contact information:

Phone +7 7172 916 333 (1002)

E-mail: ombudsman@gak.kz

Confidentiality of your request is guaranteed.

ПОЛ ГАК 849 Положение об Омбудсмене (реш. СД №26 от 19.12.24г.)

Кодекс деловой этики 21.11.2025 года

Изменения и дополнения в Кодекс деловой этики (25.02.2026 г.)

Изменения и дополнения в Положение об Омбудсмене (решение СД №6 от 25.05.2026 г.)

Publication date and time: 09.06.2026 15:45

In order to build adequate risk management and internal control systems, the Organisation establishes the following collegial advisory bodies:

These councils consist of employees of the relevant structural divisions and executives, with the composition approved by the Organisation's board of directors. Decisions of these councils are taken by a simple majority of members' votes and are made in writing. Decisions of these councils are minuted, with a detailed account of the decision-making process and the documents on the basis of which the decision was taken attached, indicating:

• a list and detailed description of the issues considered;
• a list of documents submitted to the council for decision-making;
• the voting results on each issue considered;
• the opinions of members with justification, including where they disagree with the decision taken or have a dissenting opinion.

The minutes are signed by all members of these councils present at the meeting and are kept by the Organisation. The board of directors evaluates the work of these councils and the management board on the basis of their annual performance reports.

The following committees also operate on a permanent basis at JSC «LIC «SAC»:

Welcome to the official Compliance Control page of JSC «LIC «SAC»

In order to apply the best corporate governance practices, our Company has introduced and operates a compliance control function aimed at ensuring that the Company and its employees comply with the legislation of the Republic of Kazakhstan and internal regulations, and meet high professional and ethical standards.

Countering the legalisation (laundering) of criminal proceeds and the financing of terrorism

JSC «LIC «SAC» takes a set of measures to organise an internal control system for countering the legalisation (laundering) of criminal proceeds and the financing of terrorism

Please report any cases of corruption and fraud among the Company's officials and staff, or any violations by them of the legislation of the Republic of Kazakhstan, including the Company's internal regulations, to the hotline e-mail compliance@gak.kz.

Confidentiality of your request is guaranteed.

Corruption cartogram

План мероприятий по противодействию коррупции 2024-2025 год

Правила проведения антикоррупционного мониторинга и внутр. анализа коррупционных рисков АО «КСЖ «ГАК»

О проведении внутреннего анализа коррупционных рисков

Политика уведомления

Политика выявления и урегулирования конфликта интересов

Положение о Комплаенс-контролере

Политика по управлению комплаенс-рисками АО «КСЖ «ГАК»

Политика по противодействию коррупции АО «КСЖ «ГАК»

Памятка

Инструкция по противодействию коррупции

Правила внутр. контроля в целях противодействия легализации (отмыванию) доходов, полученных преступных путем

Памятка по противодействию коррупции

Кодекс деловой этики

Анонс О публичном обсуждении

Антикоррупционные стандарты

Аналитическая справка по итогам внутреннего анализа коррупционных рисков

План мероприятий по противодействию коррупции 2026 г.

Publication date and time: 13.03.2026 11:00

О публичном обсуждении результатов внутреннего анализа коррупционных рисков

Publication date and time: 27.08.2026 17:41

Risk management makes it possible to prevent risk events that affect the achievement of strategic and operational goals and to limit their impact when they occur.

Risk management is a process that begins with strategy development and covers all of the organisation's activities. It is aimed at identifying potential events that may affect the Company's activities and managing the risks associated with those events.

The Company's risk management involves the Board of Directors, the Management Board, the Internal Audit Service, the structural divisions that own risks and the structural division responsible for risk management. The Company's risk management system is based on the «Three Lines of Defence» model, which offers a balanced approach to defining the roles and responsibilities of all RMS participants: every employee shares responsibility for risk management within their area of work.

JSC «LIC «SAC» has integrated the risk management system (RMS) into its key business processes. The RMS is a key component of the corporate governance system aimed at the timely identification, assessment, monitoring and mitigation of potential risks that may adversely affect the achievement of the Company's strategic and operational goals.

The Company has built a vertical risk management process and a risk management system that operates at all levels of management. Risks are assessed using qualitative and quantitative tools that take into account the likelihood of a risk occurring and its impact if it occurs.

The Board of Directors of JSC «LIC «SAC» has approved the following RMS documents:

The Company's Risk Management Policy defines the terminology, scope, objectives and basic principles of the organisation and operation of the RMS and its organisational structure, and is aimed at the timely identification, assessment and monitoring of all significant risks and at taking timely and adequate measures to reduce risk levels.

Risk register – a summary table containing the following structured information about risks: risk names, risk descriptions, risk owners, causes and factors of risk occurrence, a description of possible consequences of risks materialising, risk management measures and risk assessment;

Risk map – a graphical representation of risks in which the risks are arranged in order of their level.

Risk appetite is the degree of risk the Company considers acceptable in pursuing its goals; it consists of high-level statements by the Board of Directors in the form of declarations based on the strategy, nature, scale and complexity of its activities. The approved level of risk appetite serves as the basis for risk management decisions.

JSC «Life Insurance Company «State Annuity Company» is aware of the importance of its impact on the economy, the environment and society; striving for long-term value growth, it ensures its sustainable development in the long term while balancing the interests of its stakeholders.

The Company's sustainable development activities are carried out in accordance with the principles of openness, accountability, transparency, ethical behaviour, respect for stakeholders' interests, legality, respect for human rights, zero tolerance of corruption and the inadmissibility of conflicts of interest.

The sustainable development policy is based on the principles of:

environmental responsibility;

social performance;

economic efficiency.

Регламент построения Карты стейкхолдеров Р ГАК 837 Карта стейкхолдеров ПОЛИТИКА УСТОЙЧИВОГО РАЗВИТИЯ ПТ ГАК 21 Политика управления экологическими и социальными рисками издание 1

The Internal Audit Service is an independent unit within the organisation that evaluates and monitors the company's activities to make sure that processes work effectively, risks are managed properly and decisions comply with laws, internal policies and strategic goals.

In its activities the Internal Audit Service is guided by the Law of the Republic of Kazakhstan «On Joint-Stock Companies», other regulatory legal acts of the Republic of Kazakhstan, including those of the authorised body, the Company's Charter, the Corporate Governance Code, the Company's Internal Audit Policy, the Regulations on the Internal Audit Service, decisions of the Company's Board of Directors and the Company's internal regulations. The activities of the Internal Audit Service are also based on the International Standards for Internal Auditing.

The Internal Audit Service is a unit of the Company that is independent of other structural divisions and the Management Board, reports and is accountable to the Company's Board of Directors, and audits and provides an objective assessment of the effectiveness of the risk management and internal control system across all aspects of the Company's activities.

The main purpose of the Internal Audit Service is to provide an objective assessment of the internal control system, the risk management system and corporate governance, together with recommendations for their improvement.

The tasks of the Internal Audit Service include reviewing and discussing the following issues:

1) the functioning of the internal control system;

2) preparing reports for the Board of Directors on the activities of the Internal Audit Service;

3) risk areas in the Company's transactions (operations) that need to be subject to internal and external audits in the current year;

4) the reliability and accuracy of the financial information provided to management;

5) any material deficiencies in accounting or internal audit identified by external or internal auditors.

JSC «LIC SAC» is a team of professionals united by shared values and care for society. The «Corporate life» section reflects the company's internal initiatives: employees taking part in community clean-ups and volunteer projects, professional forums and conferences, sports and team events. Here we publish photo and video reports of events, talk about social projects and share our employees' stories.

This is a place where you can see real examples of corporate responsibility, team spirit and contribution to the development of the community. We update this section regularly so that clients, partners and candidates can learn more about our culture and values.

• Community clean-ups
• Corporate events
• Forums

‹ ›

Our company takes an active part in city clean-up days:
02.10.2025
11.10.2025
25.04.2026
Together we make the city cleaner and more comfortable for everyone!

‹ ›

Corporate events:
26.02.2026
JSC «LIC SAC» held an internal corporate event dedicated to creating a safe working environment and developing a culture of zero tolerance for violence and harassment.
15.12.2025
As part of the Independence Day celebrations of the Republic of Kazakhstan, we held an internal event at which we recognised our employees' contribution and awarded them for their achievements. We also watched together a documentary revealing the events of 1986 through people's stories and archive footage.
10.08.2025
This year marks the 180th anniversary of the great Abai Kunanbayev.
At JSC «LIC SAC» we marked this date dedicated to the poet, thinker and great son of the Kazakh people with deep respect.
At our event we heard lines from his poems, readings from his Words of Edification, a quiz and dombra music.

‹ ›

20.03.2026 As part of the Nauryznama celebrations, we laid a festive dastarkhan and held a children's art competition.

‹ ›

This year our company actively participated in and attended a total of 10 forums:
1. From 28 to 30 May we took part in the international conference KIOSH 2025, one of the main events in occupational health and industrial safety.
2. On 29 May, Chairman of the Management Board of JSC «LIC «SAC» Kuanysh Amangeldievich Mukazhanov took part as an expert in the round table «The new architecture of the social insurance system: digitalisation, demography and actuarial forecasts» held in Astana.
3. On 5 June we took part in the VI Forum of Gold Miners of Kazakhstan, alongside the largest mining and metallurgical companies such as Kazakhmys, Tau-Ken Samruk, RG Gold and others, and the Association of Legal Entities «Republican Association of Precious Metals Producers».
4. On 26 June, during a working visit, we presented our insurance products to companies in Karaganda, Saran, Temirtau and Pavlodar.

We offered:
DEMEU endowment life insurance with the highest USD yield on the market, as well as compulsory employee accident insurance and pension annuities.
5. On 06.09.2025 we took part in the Astana Finance Days Forum, where new opportunities and trends for Kazakhstan were discussed.
6. On 24.10.2025 our company took part in the international forum «Social vector: professionalism, recognition, digital future» held in honour of Social Worker's Day. The forum discussed the importance of AI as an auxiliary tool. Our employee Kulpash Nuryshovna Temirbekova was also awarded a medal.
7. 14 November 2025: XII Congress of Financiers of Kazakhstan
8. 2-4 October 2025: Digital Bridge Forum
9. 24 September 2025: KGF Forum
10. 18 August 2025: Kazakhstan Insurance Forum

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We believe that a company's success is created by its people. At JSC «LIC SAC» we value responsibility, development, team support and the desire to help clients. Our employees are a team of like-minded people united by a common goal and mutual respect.

At JSC «LIC SAC» we value responsibility, development, team support and the desire to help clients.

Our employees are a team of like-minded people united by a common goal and mutual respect.

To audit and confirm the reliability of its annual financial statements, in accordance with Article 78 of the Law of the Republic of Kazakhstan «On Joint-Stock Companies» the Company engages a professional audit organisation (external auditor) selected on a competitive basis.

According to the Company's Charter, the selection of the audit organisation that audits the financial statements falls within the exclusive competence of the Sole Shareholder.

An external audit of the Company's activities is carried out annually by an independent audit organisation. Under the public procurement contract for financial statement audit services concluded in accordance with the Law of the Republic of Kazakhstan «On Public Procurement», the external auditor audits the annual financial statements prepared in accordance with International Financial Reporting Standards (IFRS).

In addition to auditing the financial statements, the external auditor provides related services, including a tax review, a review of the actuary's work, preparation and presentation of the audit results to the Board of Directors, an assessment of the organisation of accounting and the quality of financial reporting, an assessment of the adequacy of the internal control system, and other services provided for in the contract.

By decision of the Sole Shareholder No. 350 of 7 November 2025, LLP «IAC «Russel Bedford A+Partners» was selected as the audit organisation to audit JSC «LIC «SAC» for 2025.

The fee paid to LLP «IAC «Russel Bedford A+Partners» for auditing the financial statements for 2025 amounted to 31,360,000 tenge including VAT.

Under the legislation of the Republic of Kazakhstan, public procurement is carried out through electronic public procurement. Therefore, all information on public procurement is published on the public procurement web portal at https://www.goszakup.gov.kz/

The system provides a single point of access to electronic public procurement services and allows participation in public procurement as a customer, organiser or supplier from any computer connected to the Internet.