UMP JSC is aimed at continuous improvement of its corporate governance system effectiveness by means of steady monitoring and best world practices implementation.

Corporate governance in UMP JSC is based on the following principles:

1. Principle of protection of the Sole Shareholder’s rights and interests.
2. Principle of effective Company governance by the Board of Directors and the Board.
3. Principle of transparency and neutrality in disclosure of the information on the Company activities.
4. Principle of legality and ethics.
5. Principle of efficient dividend policy.
6. Principle of efficient personnel policy.
7. Principle of environment protection.
8. Principle of occupational safety.
9. Principle of settlement of corporate conflicts and conflicts of interests.
10. Principle of responsibility.

UMP JSC corporate government system includes the bodies as follows:

Supreme body is the Sole Shareholder;
Regulatory body is the Board of Directors;
Executive body is the Board.
Body responsible for control over financial and economic activities of the Company is the Internal Audit Service.

Structure of UMP JSC corporate governance clearly defines separation of authorities between UMP JSC bodies.

Corporate Secretary of UMP JSC is Mr. Nurzhan Yergazhiyevich Zaripov.

The main mission of the Internal Audit Service is to preserve and enhance the value of the Group Organizations by providing objective internal assurance (inspections) based on a risk-oriented approach, making recommendations and sharing knowledge. The Internal Audit Service evaluates and contributes to the improvement of corporate governance, risk management and internal control processes in the Group Organizations using a systematic, consistent and risk-oriented approach. To ensure independence, the Internal Audit Service is functionally accountable to the Board of Directors of the Company and administratively accountable to the Board of the Company.

The fundamental principles of behavior of the Internal Audit Service employees are:

- honesty
- objectivity
- confidentiality
- professional competence

• Regulations For internal audit office

Ensuring compliance by the Company’s employees with the requirements of the legislation of the Republic of Kazakhstan, international standards, agreements, contracts and internal regulatory documents of the Company on anti-corruption issues, prevention and minimization of compliance risks of the Company are assigned to the Risk and Compliance Officer Service.

In addition, the Ombudsman Institute has been established at UMP JSC. The role of the Ombudsman is to assist in resolving labor disputes, problematic issues of social and labor nature, corporate conflicts and conflicts of interest; to ensure compliance with the Code of Corporate Ethics and Compliance of UMP JSC by the Company’s bodies, officials and employees and, if necessary, to explain its provisions; to promote the Company’s image through early prevention and settlement of disputes and conflicts.