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Key indicators The results of the Social Responsibility Annual report of JSC NAC Kazatomprom for the year 2010 Contents The report information 2 Address of the Chairman of the Board of JSC NAC Kazatomprom 4 Address of the Chairman of the Management Board of JSC NAC Kazatomprom 6 Key Performance Indicators of the activity of JSC NAC Kazatomprom for the year 2010 8 The Company information 10 History of JSC NAC Kazatomprom 10 Geography 12 Prospects for future development and strategy 14 Structure of JSC NAC Kazatomprom 16 Corporate management 18 General Meeting of Shareholders 19 Board of Directors 19 Committees of the Board of Directors of JSC NAC Kazatomprom 24 Management Board of JSC NAC Kazatomprom 26 Results of activities of JSC NAC Kazatomprom in the year 2010 32 Production performances of 2010 34 Resource potential 34 Geologic exploration 34 Production of uranium 36 Overall production of tantalum and beryllium output 36 Overall production of energy resources 38 Financial Performance of JSC NAC Kazatomprom for 2010 40 Social responsibility 42 Staff development 42 Social transfers and employment benefits 43 Sports support and social process 44 Social and economic development of regions 46 Sponsorship and aid projects 47 Health, safety and environment 48 Occupational safety and health 48 Chemical and radioactive effects on the environment 50 Expenditures for environmental uses 57 Appendix 1 60 Appendix 2 66 Appendix 3 74 Appendix 4 164 Appendix 5 166 The report information This report offers the activity of the joint stock company National Atomic income. The results of JSC NAC Kazatomprom's group of companies for 2008 Company Kazatomprom (hereinafter referred to as NAC Kazatomprom, have been formed therein on the basis of new consolidation principles for Company, KAP) in the Republic of Kazakhstan, Russia, Ukraine, Kyrgyz and a comparability. series of other countries in 2010. This report covers all subsidiaries and related organizations of the Company. In 2010 the structure of Company's assets underwent the following changes, which could have affected the compatibility with the previous reporting The operating statements are presented for the following companies: JSC NAC period: Kazatomprom, Ore mining company LLP, Appak LLP, Semizbai-U LLP, 1) New organizations were established: Ecoenergomash LLP (NAC Kyzylkum LLP, Baiken-U LLP, SP Inkai LLP, SP Katko LLP, SP Betpak Dala LLP, Kazatomprom share 100%), SARECO LLP (NAC Kazatomprom share 51%), Karatau LLP, JSC Akbastau, JSC Zarechnoye, JSC Ulba metallurgical plant, JSC KAS LLP (NAC Kazatomprom share 50%); Volkovgeologia, MAEK-Kazatomprom LLP. 2) In 2010 the registered capital of Kyzyltu LLP was replenished by JSC NAC Kazatomprom, as a result the share of KAP increased from 50% to 76% The indices of personnel, ecology, occupational safety and quality of the and financial performances of Kyzyltu got accounted in consolidated output products are presented for the following companies: JSC NAC financial statement by proportional method. Kazatomprom, Ore mining company LLP, Appak LLP, Semizbai-U LLP, JSC Ulba metallurgical plant, JSC Volkovgeologia, MAEK-Kazatomprom LLP, Korgan- In 2009 the financial performances were considerably affected by the Tax Law Kazatomprom LLP, Bailanys-NAK LLP, High Technologies Institute LLP, change as it pertains to reduction in the corporate income tax from 30% to Kazatomprom-Demeu LLP, Kyzyltu LLP, SARECO LLP, Ecoenergomash LLP, KAS 20%, imposition of tax on the extraction of commercial minerals for uranium LLP. at the rate of 22%. Since 2009 consolidation principles of joint organizations have been changed This is a first publicly available report prepared by JSC NAC Kazatomprom, in compliance with recommendations of the sole shareholder of JSC National which reflects production and financial performances of Company's opera- Wealth Fund Samruk-Kazyna: such enterprises as Karatau LLP (NAC tions. Kazatomprom share 50%), JSC TsOU (NAC Kazatomprom share 50%), JSC KRK Nuclear power stations (доля NAC Kazatomprom share 50%), Kyzyltu LLP The financial information is based upon data of Company's financial (NAC Kazatomprom share 50%), RUMTs LLC Geotecnologia (NAC statements drawn up in compliance with IFRS requirements. Full financial Kazatomprom share 50%), UKPTVS (NAC Kazatomprom share 33,33%) have statement is presented on the website of JSC NAC Kazatomprom been excluded from the corporate consolidation and accounted for share (www.kazatomprom.kz) 2 Address of the Chairman of the Board of JSC NAC Kazatomprom Dear Sirs! Strategic goals of JSC NAC Kazatomprom are achieving a leading position in the Compliance with the world's standards of corporate management is one of the world uranium market, production of outputs and provision of services at all priorities of JSC NAC Kazatomprom. In 2010 the body of the Board of Directors stages of the Nuclear Fuel Cycle. Another goal of JSC NAC Kazatomprom is the was optimized by election of the independent director – a specialist in the field development of new related science-intensive and high-tech trends. of audit. Besides, two committees were established in 2010: for audit and for appointments and remunerations. The Code of Corporate Management, the Achievement of these goals presupposes realization of large projects on the Regulation on settlement of corporate conflicts and conflict of interests of JSC increase of uranium stock and its production capacity, construction of nuclear NAC Kazatomprom, key performances of activities of executives of JSC NAC power plants, creation of new production operations of the Nuclear Fuel Cycle, Kazatomprom, the Action plan on Company's corporate management system rare and rare-earth materials, alternative energy sources not only in the improvement were approved by the Resolution of the Board of Directors in Republic of Kazakhstan but beyond its boarders. 2010. Today Kazatomprom is the national company, which is the key factor of Today we for the first time offer the “Annual statement of the group of organi- Company's development stability. Participation of the government in the zations of JSC NAC Kazatomptrom” to general public. share capital mitigates the investment risks, which unavoidably arise in the course of realization of large-scale long-term projects related to uranium Generation and publication of the Annual statement on Company's activity is processing and construction of nuclear plants. At the same time the Company an important element on the way to the new quality of the corporate manage- increases its corporate social responsibility by providing worthy living condi- ment. Besides, by publishing this statement we anticipate to promote the tions for its employees, development of social and economic infrastructure of dialogue between the Company and the civil society, which is of special the territory of their inhabitance, minimization of ecological damage due to interest at this time in the context of the NPP accident in Japan. productive activity of the Company. Everyone who takes this statement will receive comprehensive information Over the last years JSC NAC Kazatomprom created all bases for ensuring of about economic, social and ecological policy of the Company and will be able stable growth. The Company has stable economic performances, a unique raw to draw its own conclusion on Company's contribution to the development of material base and professional management. In 2009 the Republic of the society. We hope that it will raise the confidence of people not only to JSC Kazakhstan came out on the world's top in the field of uranium production due NAC Kazatomprom but to the nuclear industry of the country in general. to the efforts of the Company and the Company ranked in the world's produc- tion in 2010. Mutually beneficial international cooperation forms an integral part of strategy of Kazatomprom. Besides joint production of uranium in the territory of the Republic of Kazakhstan the Company exchanges the progres- sive scientific and technical experience and carries out realization of number of Yours respectfully, large joint projects together with its foreign partners. This exercises a key Chairman of the Board of Directors influence on Kazatomprom's ranking among the leading world's uranium JSC NAC Kazatomprom produces. T. Kulibayev 4 Address of the Chairman of the Management Board of JSC NAC Kazatomprom Dear investors, partners and colleagues! The year of 2010 was advantageous from the perspective of general economic Strategic goals of JSC NAC Kazatomprom are focused on achieving a leading conjuncture. Nuclear industry was marked by the dynamic development with position in the world uranium market, the maximum diversification of priority rates. Based on information from the World Nuclear Association, as of Company's activity through participation in the foreign assets of the Nuclear December 31, 2010 there were 422 nuclear reactors operating around the Fuel Cycle (in the stages of uranium conversion and enrichment, nuclear fuel world with another 63 under construction and 156 at the design stage. 322 production, nuclear power plants construction), as well as the development more reactor projects were being examined. The demand for uranium and use of scientific and technical potential of the Company to diversify into increased. The experts started speaking on the outlined Renaissance of the related high-tech areas. branch forecasting it to be the key energetic sector worldwide in the nearest future. Thus, in the area of uranium conversion JSC NAC Kazatomprom
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