Board of Directors Meeting Date: May 11, 2016

Description of the issue(-s) included in the agenda of the board meeting, information on which shall be brought to the notice of shareholders and investors in accordance with the Company's internal documents: On the increase of liabilities of KazAgroFinance JSC by the amount equal to ten or more percent of the equity capital of KazAgroFinance JSC by entering into the Credit Line Agreement with SB Sberbank of Russia JSC.

Resolution(-s) taken by the Board of Directors on the issue(-s) specified in subparagraph 2) of this paragraph: To increase the liabilities of KazAgroFinance JSC by the amount more than ten percent of the equity capital of KazAgroFinance JSC by entering into the Credit Line Agreement with SB Sberbank of Russia JSC.

Name of a state body which took the decision on bringing to administrative responsibility: State Enterprise "Aktobe Oblast Transport Control Inspectorate"
Date, number (if available) of the state body decision on bringing to administrative responsibility: resolution on a case concerning the administrative offence No. 013371 dated April 25, 2016
Number of an Article of the Code of the Republic of Kazakhstan on Administrative Offences, according to which the joint stock company and (or) its officers were brought to administrative responsibility: Part 7 of Article 593 of the Code of the Republic of Kazakhstan on Administrative Offences

Name of a state body which took the decision on bringing to administrative responsibility: Specialized Interdistrict Administrative Court of Astana city
Date, number (if available) of the state body decision on bringing to administrative responsibility: the decision dated April 21, 2016
Number of an Article of the Code of the Republic of Kazakhstan on Administrative Offences, according to which the joint stock company and (or) its officers were brought to administrative responsibility: Part 1 of Article 189 of the Code of the Republic of Kazakhstan on Administrative Offences

Board of Directors Meeting Date: April 26, 2016

Description of the issue (-s) included in the agenda of the board meeting, information on which shall be brought to the notice of shareholders and investors in accordance with the Company's internal documents: KazAgroFinance JSC and NMH KazAgro JSC shall make a transaction in the form of a loan agreement in which there is an interest.

Resolution(-s) taken by the Board of Directors on the issue(-s) specified in subparagraph 2) of this paragraph:

KazAgroFinance JSC shall consummate a transaction with NMH KazAgro JSC.

Board of Directors Meeting Date: April 26, 2016

Description of the issue(-s) included in the agenda of the board meeting, information on which shall be brought to the notice of shareholders and investors in accordance with the Company's internal documents:

1. On the release of the second bond program of KazAgroFinance JSC.

2. On the increase of liabilities of KazAgroFinance JSC by the amount equal to ten or more percent of the equity capital of KazAgroFinance JSC by releasing the second bond program of KazAgroFinance JSC.

Resolution(-s) taken by the Board of Directors on the issue(-s) specified in subparagraph 2) of this paragraph:

1 The Board of Directors RESOLVED that:

1) KazAgroFinance JSC shall release the second bond program of KazAgroFinance JSC to the sum of KZT 100,000,000,000 (one hundred billion).

2) The Management Board of KazAgroFinance JSC shall take measures arising from this Resolution.

2. The Board of Directors RESOLVED to:

1) increase the liabilities of KazAgroFinance JSC by the amount more than ten percent of the equity capital of KazAgroFinance JSC by releasing the second bond program of KazAgroFinance JSC to the sum of KZT 100,000,000,000 (one hundred billion).

2) The Management Board of KazAgroFinance JSC shall take measures arising from this Resolution.

1. Date of the transactional decision taken by the Company's authority – March 2, 2016.
2. Cost of asset being the subject of transaction – KZT 1 215 044 529,88 (one billion two hundred fifteen million forty-four thousand five hundred and twenty-nine).
3. Date of last valuation of asset being the subject of transaction –    October 1, 2015.
4. Percentage ratio of asset cost, being the subject of transaction, to the total cost of assets of the joint stock company– 0,429%.
5. Basic essential conditions:
• due to change in financing structure of the investment project from KZT 1,226,186 389.88 (one billion two hundred twenty-six million one hundred eighty-six thousand three hundred eighty-nine, 88/100) to KZT 1,215,044 529.88 (one billion two hundred fifteen million forty four thousand five hundred twenty nine 88/100).
• change of repayment schedule due to change in the investment project financing structure.
• change of the total cost of the project due to change in the investment project financing structure.
6. Date of Amendment Agreement No. 5 to the Investment Project Finance Agreement No. 14/12 dated February 3, 2014– March 2, 2016.

1. Date of the transactional decision taken by the Company's authority – March 2, 2016.
2. Cost of asset being the subject of transaction – KZT 107 259 606 (one hundred seven million two hundred fifty-nine thousand six hundred and six).
3. Date of last valuation of asset being the subject of transaction – December 3, 2015.
4. Percentage ratio of asset cost, being the subject of transaction, to the total cost of assets of the joint stock company – 0,037%.
5. Basic essential conditions:
• change of the total cost of the project due to change in the investment project financing structure
6. Date of Amendment Agreement No. 3 to the Pledge Agreement on Pledging Immovable Property (Mortgage Agreement) No. KST\NЕD-14-13 dated February 3, 2014– March 2, 2016.

1. Date of the transactional decision taken by the Company's authority – March 2, 2016.
2. Cost of asset being the subject of transaction – KZT 56 889 116 (fifty six million eight hundred eighty-nine thousand one hundred and sixteen).
3. Date of last valuation of asset being the subject of transaction – December 3, 2015.
4. Percentage ratio of asset cost, being the subject of transaction, to the total cost of assets of the joint stock company – 0,020%.
5. Basic essential conditions:
• change of the total cost of the project due to change in the investment project financing structure.
6. Date of Amendment Agreement No. 3 to the Pledge Agreement on Pledging Immovable Property (Mortgage Agreement) No. KST\NЕD-14-15 dated February 3, 2014– March 2, 2016.

1. Date of the transactional decision taken by the Company's authority – March 2, 2016.
2. Cost of asset being the subject of transaction – KZT 306 078 341 (three hundred and six million seventy-eight thousand three hundred forty-one).
3. Date of last valuation of asset being the subject of transaction – December 3, 2015.
4. Percentage ratio of asset cost, being the subject of transaction, to the total cost of assets of the joint stock company – 0,108%.
5. Basic essential conditions:
• change of the total cost of the project due to change in the investment project financing structure.
6. Date of Amendment Agreement No. 3 to the Pledge Agreement on Pledging Immovable Property (Mortgage Agreement) No. KST\PZ-14-12 dated February 3, 2014– March 2, 2016.

1. Date of the transactional decision taken by the Company's authority – March 2, 2016.
2. Cost of asset being the subject of transaction – KZT 251 915 053 (two hundred fifty-one million nine hundred fifteen thousand fifty-three).
3. Date of last valuation of asset being the subject of transaction – December 3, 2015.
4. Percentage ratio of asset cost, being the subject of transaction, to the total cost of assets of the joint stock company – 0,088%.
5. Basic essential conditions:
• change of the total cost of the project due to change in the investment project financing structure.
6. Date of Amendment Agreement No. 3 to the Pledge Agreement on Pledging Immovable Property (Mortgage Agreement) No. KST\PZ-14-14 dated February 3, 2014– March 2, 2016.

1. Date of the transactional decision taken by the Company's authority – March 2, 2016.
2. Cost of asset being the subject of transaction - KZT 804 944 881,55 (eight hundred four million nine hundred forty-four thousand eight hundred eighty-one, 55/100).
3. Date of last valuation of asset being the subject of transaction – not applicable.
4. Percentage ratio of asset cost, being the subject of transaction, to the total cost of assets of the joint stock company – 0,284%.
5. Basic essential conditions:
• due to restructuring of outstanding loans to be paid in March and October of 2016;
6. Date of Amendment Agreement No. 2 to the Financial Leasing Agreement No. AST-14/28-14 dated March 18, 2014 – March 2, 2016.

1. Date of the transactional decision taken by the Company's authority – March 2, 2016.
2. Cost of asset being the subject of transaction - KZT 8 928 542 (eight million nine hundred twenty-eight thousand five hundred forty-two).
3. Date of last valuation of asset being the subject of transaction – not applicable.
4. Percentage ratio of asset cost, being the subject of transaction, to the total cost of assets of the joint stock company – 0,003%.
5. Basic essential conditions:
• due to restructuring of outstanding loans to be paid in March and October of 2016;
6. Date of Amendment Agreement No. 2 to the Financial Leasing Agreement No. AST-14/29-14 dated March 18, 2014 – March 2, 2016.

1. Date of the transactional decision taken by the Company's authority – March 2, 2016.
2. Cost of asset being the subject of transaction - KZT 6 002 400 (six million two thousand four hundred).
3. Date of last valuation of asset being the subject of transaction – not applicable.
4. Percentage ratio of asset cost, being the subject of transaction, to the total cost of assets of the joint stock company – 0,002%.
5. Basic essential conditions:
• due to restructuring of outstanding loans to be paid in March and October of 2016;
6. Date of Amendment Agreement No. 2 to the Financial Leasing Agreement No. AST-14/32-14 dated June 5, 2014 – March 2, 2016.

1. Date of the transactional decision taken by the Company's authority – March 2, 2016.
2. Cost of asset being the subject of transaction - KZT 10 400 000 (ten million four hundred thousand).
3. Date of last valuation of asset being the subject of transaction – not applicable.
4. Percentage ratio of asset cost, being the subject of transaction, to the total cost of assets of the joint stock company – 0,003%.
5. Basic essential conditions:
• due to restructuring of outstanding loans to be paid in March and October of 2016;
6. Date of Amendment Agreement No. 2 to the Financial Leasing Agreement No AST-14/36-14 dated August 8, 2014 – March 2, 2016.

1. Date of the transactional decision taken by the Company's authority – March 2, 2016.
2. Cost of asset being the subject of transaction - KZT 204 442 660 (two hundred four million four hundred forty-two thousand six hundred and sixty).
3. Date of last valuation of asset being the subject of transaction – December 3, 2015.
4. Percentage ratio of asset cost, being the subject of transaction, to the total cost of assets of the joint stock company – 0,072%.
5. Basic essential conditions:
• due to restructuring of outstanding loans to be paid in March and October of 2016;
6. Date of Amendment Agreement No. 3 to the Loan Agreement No. AST-14/33-14 dated June 17, 2014– March 2, 2016.

1. Date of the transactional decision taken by the Company's authority – March 2, 2016.
2. Cost of asset being the subject of transaction - KZT 325 000 000 (three hundred twenty-five million).
3. Date of last valuation of asset being the subject of transaction – December 3, 2015.
4. Percentage ratio of asset cost, being the subject of transaction, to the total cost of assets of the joint stock company – 0,114%.
5. Basic essential conditions:
• due to restructuring of outstanding loans to be paid in March and October of 2016;
6. Date of Amendment Agreement No. 2 to the Loan Agreement No. AST-14/31-14 date March 18, 2014 – March 2, 2016.

 Full name and location of KazAgroFinance JSC: KazAgroFinance Joint Stock Company, Republic of Kazakhstan, 010000 Astana, 51 Kenesary street, VP-4.

Date, time and venue of meeting of the Management Board of Holding KazAgro JSC: meeting was held on February 13, 2016 at the location of the Management Board of National Management Holding KazAgro JSC - Astana city, 24 Republic ave., at 10.30 am.

Agenda item: On approval of Regulations on Board of Directors of subsidiaries of Holding KazAgro JSC.

Adopted resolution on the agenda item:

In accordance with subparagraph 5) of paragraph 1 of Article 36 of the Law of the Republic of Kazakhstan "On Joint Stock Companies", paragraph 5 of Article 181 of the Law of the Republic of Kazakhstan "On State Property" and subparagraph 7) of paragraph 153 of the Charter of Holding KazAgro JSC, the Management Board RESOLVEDTO:

1. Approve the Regulations on Board of Directors of:

1) KazAgroFinance JSC according to Appendix 1 to this resolution;

2) Agrarian Credit Corporation JSC according to Appendix 2 to this resolution;

3) Fund for Financial Support of Agriculture JSC according to Appendix 3 to this resolution;

4) KazAgroProdukt JSC according to Appendix 4 to this resolution;

5) Kazagromarketing JSC according to Appendix 5 to this resolution;

6) KazAgroGarant JSC according to Appendix 6 to this resolution;

7) NC Food Contract Corporation JSC according to Appendix 7 to this resolution.

2. Representatives of Holding KazAgro JSC in the management bodies of subsidiaries shall submit for consideration of the respective Boards of Directors the issue of introducing amendments to the classifiers of internal regulations of affiliated joint stock companies in terms of inclusion the document in the list of documents to be approved by the General Meeting of shareholders (the Sole Shareholder).

3. The present resolution of the Management Board of Holding KazAgro JSC shall be considered as the resolution of the joint stock companies referred to in paragraph 1 of this resolution.

Voting results on the agenda item:

FOR – 3 votes (N.T. Malelov, A.S. Mukhammadiyeva, A.A. Khodzhanazarov).

AGAINST – no votes.

ABSTAINED (special opinion) - no votes.

Resolution adopted by common consent.

1. Date of the transactional decision taken by the Company's authority – January 28, 2016.
2. Cost of asset being the subject of transaction – KZT 25 731 500,00 (twenty-five million seven hundred thirty-one thousand five hundred, 00/100).
3. Date of last valuation of asset being the subject of transaction – not applicable.
4. Percentage ratio of asset cost, being the subject of transaction, to the total cost of assets of the joint stock company – 0,009%.
5. Basic essential conditions:
1. change of the Agreement termination date from October 22, 2022 to September 1, 2022 due to the actual transfer of the leased asset;
2. change of repayment schedule due to the change in final cost of the leased asset;
3. change of description and cost of the leased asset due to change in the final cost of the leased asset;
6. Date of Amendment Agreement No. 1 to the Financial Leasing Agreement No. AST-0236-15 dated August 18, 2015 - January 28, 2016.

1. Date of the transactional decision taken by the Company's authority – January 28, 2016.
2. Cost of asset being the subject of transaction – KZT 25 731 500,00 (twenty-five million seven hundred thirty-one thousand five hundred, 00/100).
3. Date of last valuation of asset being the subject of transaction – not applicable.
4. Percentage ratio of asset cost, being the subject of transaction, to the total cost of assets of the joint stock company – 0,009%.
5. Basic essential conditions:
1. change of the Agreement termination date from October 22,2022 to September 11, 2022 due to the actual transfer of the leased asset;
2. change of repayment schedule due to the change in final cost of the leased asset;;
3. change of description and cost of the leased asset due to change in the final cost of the leased asset;
6. Date of Amendment Agreement No. 1 to the Financial Leasing Agreement No. AST-0237-15 dated August 18, 2015 - January 28, 2016.

1. Date of the transactional decision taken by the Company's authority – January 28, 2016.
2. Cost of asset being the subject of transaction – KZT 25 731 500,00 (twenty-five million seven hundred thirty-one thousand five hundred, 00/100).
3. Date of last valuation of asset being the subject of transaction – not applicable.
4. Percentage ratio of asset cost, being the subject of transaction, to the total cost of assets of the joint stock company – 0,009%.
5. Basic essential conditions:
1. change of the Agreement termination date from October 22,2022 to September 1, 2022 due to the actual transfer of the leased asset;
2. change of repayment schedule due to the change in final cost of the leased asset;;
3. change of description and cost of the leased asset due to change in the final cost of the leased asset;
6. Date of Amendment Agreement No. 1 to the Financial Leasing Agreement No. AST-0238-15 dated August 18, 2015 - January 28, 2016.

1. Date of the transactional decision taken by the Company's authority – January 28, 2016.
2. Cost of asset being the subject of transaction – KZT 25 731 500,00 (twenty-five million seven hundred thirty-one thousand five hundred, 00/100).
3. Date of last valuation of asset being the subject of transaction – not applicable.
4. Percentage ratio of asset cost, being the subject of transaction, to the total cost of assets of the joint stock company – 0,009%.
5. Basic essential conditions:
1. change of the Agreement termination date from October 22,2022 to September 1, 2022 due to the actual transfer of the leased asset;
2. change of repayment schedule due to the change in final cost of the leased asset;
3. change of description and cost of the leased asset due to change in the final cost of the leased asset;
6. Date of Amendment Agreement No. 1 to the Financial Leasing Agreement No. AST-0239-15 dated August 18, 2015 - January 28, 2016. 

1. Date of the transactional decision taken by the Company's authority – January 28, 2016.
2. Cost of asset being the subject of transaction – KZT 39 050 924,33 (thirty nine million fifty thousand nine hundred twenty-four, 33/100).
3. Date of last valuation of asset being the subject of transaction – not applicable.
4. Percentage ratio of asset cost, being the subject of transaction, to the total cost of assets of the joint stock company – 0,014%.
5. Basic essential conditions:
1. change of the Agreement termination date from September 17,2022 to August 27, 2022 due to the actual transfer of the leased asset;
2. increase in value of the leased asset from KZT 39 050 924.33 (thirty nine million fifty thousand nine hundred twenty-four 33/100) to KZT 45 041 425,00 (forty-five million forty-one thousand four hundred twenty-five, 00 /100) due to the change in the final cost;
3. change of repayment schedule due to the change in final cost of the leased asset;
4. change of description and cost of the leased asset due to change in the final cost of the leased asset;
6. Date of Amendment Agreement No. 1 to the Financial Leasing Agreement No. AST-0240-15 dated August 18, 2015 - January 28, 2016.

1. Date of the transactional decision taken by the Company's authority – January 28, 2016.
2. Cost of asset being the subject of transaction – KZT 8 928 542 (eight million nine hundred twenty-eight thousand five hundred forty-two).
3. Date of last valuation of asset being the subject of transaction – not applicable.
4. Percentage ratio of asset cost, being the subject of transaction, to the total cost of assets of the joint stock company – 0,003%.
5. Basic essential conditions:
• change of repayment schedule due to the change in final cost of the leased asset.
6. Date of Amendment Agreement No. 1 to the Financial Leasing Agreement No. AST-14/29-14 dated March 18, 2014 - January 28, 2016.

1. Date of the transactional decision taken by the Company's authority – January 28, 2016.
2. Cost of asset being the subject of transaction - KZT 6 002 400 (six million two thousand four).
3. Date of last valuation of asset being the subject of transaction – not applicable.
4. Percentage ratio of asset cost, being the subject of transaction, to the total cost of assets of the joint stock company – 0,002%.
5. Basic essential conditions:
• change of repayment schedule due to the change in final cost of the leased asset.
6. Date of Amendment Agreement No. 1 to the Financial Leasing Agreement No. AST-14/32-14 dated June 5, 2014 - January 28, 2016.

1. Date of the transactional decision taken by the Company's authority – January 28, 2016.
2. Cost of asset being the subject of transaction - KZT 10 400 000 (ten million four hundred thousand).
3. Date of last valuation of asset being the subject of transaction – not applicable.
4. Percentage ratio of asset cost, being the subject of transaction, to the total cost of assets of the joint stock company – 0,003%.
5. Basic essential conditions:
• change of repayment schedule due to the change in final cost of the leased asset. 
6. Date of Amendment Agreement No. 1 to the Financial Leasing Agreement No. AST-14/36-14 dated August 8, 2014 - January 28, 2016.

1. Date of the transactional decision taken by the Company's authority – January 28, 2016.
2. Cost of asset being the subject of transaction - KZT 107 259 606 (one hundred and seven million two hundred fifty-nine thousand six hundred and six).
3. Date of last valuation of asset being the subject of transaction – December 3, 2015
4. Percentage ratio of asset cost, being the subject of transaction, to the total cost of assets of the joint stock company – 0,037%.
5. Basic essential conditions:
• change of the total project cost due to the change in financing structure of the investment project.
6. Date of Amendment Agreement No. 2 to the Pledge Agreement on pledging immovable property (Mortgage Agreement) No. KST\НЕД-14-13 dated February 3, 2014 - January 28, 2016.

1. Date of the transactional decision taken by the Company's authority – January 28, 2016.
2. Cost of asset being the subject of transaction - KZT 56 889 116 (fifty six million eight hundred eighty-nine thousand one hundred sixteen).
3. Date of last valuation of asset being the subject of transaction – December 3, 2015
4. Percentage ratio of asset cost, being the subject of transaction, to the total cost of assets of the joint stock company – 0,019%.
5. Basic essential conditions:
• change of the total project cost due to the change in financing structure of the investment project.
6. Date of Amendment Agreement No. 2 to the Pledge Agreement on pledging immovable property (Mortgage Agreement) No. KST\НЕД-14-15 dated February 3, 2014 - January 28, 2016.

1. Date of the transactional decision taken by the Company's authority – January 28, 2016.
2. Cost of asset being the subject of transaction - KZT 306 078 341 (three hundred and six million seventy-eight thousand three hundred forty-one).
3. Date of last valuation of asset being the subject of transaction – December 3, 2015
4. Percentage ratio of asset cost, being the subject of transaction, to the total cost of assets of the joint stock company – 0,106%.
5. Basic essential conditions:
• change of the total project cost due to the change in financing structure of the investment project.
6. Date of Amendment Agreement No. 2 to the Pledge Agreement on pledging immovable property (Mortgage Agreement) No. KST\ПЗ-14-12 dated February 3, 2014 - January 28, 2016.

1. Date of the transactional decision taken by the Company's authority – January 28, 2016.
2. Cost of asset being the subject of transaction - KZT 251 915 053 (two hundred fifty-one million nine hundred fifteen thousand fifty-three).
3. Date of last valuation of asset being the subject of transaction – December 3, 2015
4. Percentage ratio of asset cost, being the subject of transaction, to the total cost of assets of the joint stock company – 0,088%.
5. Basic essential conditions:
• change of the total project cost due to the change in financing structure of the investment project.
6. Date of Amendment Agreement No. 2 to the Pledge Agreement on pledging immovable property (Mortgage Agreement) No. KST\ПЗ-14-14 dated February 3, 2014 - January 28, 2016. 

1. Date of the transactional decision taken by the Company's authority – January 28, 2016.
2. Cost of asset being the subject of transaction - KZT 204 442 660 (two hundred and four million four hundred forty-two thousand six hundred sixty).
3. Date of last valuation of asset being the subject of transaction – December 3, 2015
4. Percentage ratio of asset cost, being the subject of transaction, to the total cost of assets of the joint stock company – 0,071%.
5. Basic essential conditions:
• partial early repayment of the undisbursed balance in the amount of KZT 557 340 (five hundred fifty-seven thousand three hundred forty).
6. Date of Amendment Agreement No. 2 to the Loan Agreement No. AST-14/33-14 dated June 17, 2014 - January 28, 2016. 

Meeting of the Board of Directors has resolved to conclude a transaction, in which there is an interest, between KazAgroFinance JSC and National Company Food Contract Corporation JSC on lease of non-residential premise to locate the branch of KazAgroFinance JSC in Kostanay oblast under the terms of the draft agreement.  
Date of taking the resolution on transaction by the Company's authority - Extract from the Minutes of Meeting of the Board of Directors of KazAgroFinance JSC No.1 dated January 28, 2016.
Transaction date - January 01, 2016

010000 Astana, 51 Kenesary Street, VP-4.

Date, time and venue of meeting of the Management Board of Holding KazAgro JSC: January 20, 2016, meeting was held at the location of the Management Board of National Management Holding KazAgro JSC - Astana city, 24 Republic ave., at 6.30 pm.

Agenda item: On determination of remuneration size for Independent Directors of the Board of Directors of subsidiaries of Holding KazAgro JSC for 2016.

Adopted resolution on the agenda item:

In accordance with subparagraph 5) of paragraph 1 of Article 36 of the Law of the Republic of Kazakhstan "On Joint Stock Companies", paragraph 5 of Article 181 of the Law of the Republic of Kazakhstan "On State Property", subparagraph 7) of paragraph 153 of the Charter of Holding KazAgro JSC, subparagraph 9) of paragraph 17 of Charters of NC Food Contract Corporation JSC, Agrarian Credit Corporation JSC, KazAgroFinance JSC, Fund for Financial Support of Agriculture JSC, Kazagromarketing JSC, KazAgroProdukt JSC, subparagraph 7) of paragraph 19 of the Charter of KazAgroGarant JSC, the Management Board of Holding KazAgro JSC RESOLVED TO:

1. Determine the remuneration size for Independent Directors of subsidiaries of Holding KazAgro JSC for 2016 in the amount of KZT 75,000 (seventy five thousand) for participating in one meeting of the Board of Directors. The amount of remuneration is specified before taxes and other mandatory payments stipulated by the legislation of the Republic of Kazakhstan.

2. Define the following terms for payment of compensation to Independent Directors of subsidiaries of Holding KazAgro JSC:

1) compensation shall be paid in cash once a year to an extent proportional to the number of meetings of the Board of Directors, where the Independent Director has taken part;

2) in case of participation of the Independent Director in less than a half of all held meetings of the Board of Directors of KazAgro subsidiary in presentia and by correspondence, compensation shall not be paid, except in cases of absence of the Independent Director by reason of illness or leave.

3. Management Boards of subsidiaries of Holding KazAgro JSC shall take appropriate measures related to the implementation of this resolution.

4. The resolution of the Management Board of Holding KazAgro JSC shall be considered as the resolution of the Sole Shareholder of NC Food Contract Corporation JSC, Agrarian Credit Corporation JSC, KazAgroFinance JSC, Fund for Financial Support of Agriculture JSC, Kazagromarketing JSC, KazAgroProdukt JSC, KazAgroGarant JSC.

Voting results on the agenda item:

FOR – 4 votes (N.T. Malelov, A.S. Mukhammadiyeva, A.A. Khodzhanazarov, L.S.Mussina).

AGAINST – no votes.

ABSTAINED (special opinion) - no votes.

Resolution adopted by common consent.

By resolution of the State Revenue Office in Almaty region of Astana city dated January 11, 2016, KazAgroFinance JSC was brought to administrative responsibility under part 1 of Article 272 of the Administrative Code of the Republic of Kazakhstan, and subjected to a fine in the form of warning. 

Full name and location of KazAgroFinance JSC: KazAgroFinance Joint Stock Company, Republic of Kazakhstan, 010000 Astana, 51 Kenesary street, VP-4.

Date, time and venue of meeting of the Management Board of Holding KazAgro JSC: January 13, 2016, meeting was held at the location of the Management Board of National Management Holding KazAgro JSC - Astana city, 24 Republic ave., at 4 pm.

Agenda item: On determination of organization carrying out an audit of financial statements of KazAgroProdukt JSC, Agrarian Credit Corporation JSC, Fund for Financial Support of Agriculture JSC, Kazagromarketing JSC, KazAgroFinance JSC in 2015.

Adopted resolution on the agenda item:

In accordance with paragraph 5 of Article 181 of the Law of the Republic of Kazakhstan "On State Property", subparagraph 6) of paragraph 1 of Article 36 of the Law of the Republic of Kazakhstan "On Joint Stock Companies" and subparagraph 7) of paragraph 153 of the Charter of Holding KazAgro JSC, the Management Board RESOLVED TO:

1. Determine the Ernst & Young Limited Liability Partnership as an organization carrying out an audit of financial statements of KazAgroProdukt JSC, Agrarian Credit Corporation JSC, Fund for Financial Support of Agriculture JSC, Kazagromarketing JSC, KazAgroFinance JSC in 2015.

2. Executive bodies of KazAgroProdukt JSC, Agrarian Credit Corporation JSC, Fund for Financial Support of Agriculture JSC, Kazagromarketing JSC, KazAgroFinance JSC shall take appropriate measures related to the implementation of this resolution.

3. The resolution of the Management Board of Holding KazAgro JSC shall be considered as the resolution of the Sole Shareholder of KazAgroProdukt JSC, Agrarian Credit Corporation JSC, Fund for Financial Support of Agriculture JSC, Kazagromarketing JSC, KazAgroFinance JSC.

Voting results on the agenda item:

FOR – 3 votes (N.T. Malelov, A.S. Mukhammadiyeva, L.S.Mussina).

AGAINST – no votes.

ABSTAINED (special opinion) - no votes.

Resolution adopted by common consent.

By resolution of the Cassation Board of the Astana City Court dater December 18, 2015, the resolution of the Specialized Interdistrict Administrative Court of Astana dated July 17, 2015 shall be annulled, KazAgroFinance JSC shall be brought to administrative responsibility under part 1 of Article 214 of the Administrative Code of the Republic of Kazakhstan, and subjected to a fine in the amount of 400 (four hundred) monthly calculation indexes, which in monetary terms equal to KZT 792, 800 (seven hundred ninety-two thousand eight hundred).