Remuneration system

1. For the Chairman of the Management Board and his deputies, based on the Decree of the President of the Republic of Uzbekistan «On measures to improve the system for evaluating the performance of republican and local executive bodies, as well as economic associations» №-49 dated March 13, 2024.
2. For directors and deputy directors, chief accountants, heads of divisions and regional managers, as well as chief or lead engineers, heads of budget planning services/departments of branches within the Company. in accordance with the Company’s target strategy, e.g., revenue, development, quality of communication. (Company Order № 6 dated January 7, 2025).
3. For department directors, heads of departments, services, and divisions of the executive apparatus in accordance with the Company’s target strategy, e.g., revenue, development, communication quality (Company Order №-7 dated January 7, 2025).

Remuneration of members of the Supervisory Board of Uzbektelecom JSC is regulated by the internal Regulations on the Supervisory Board and is aimed at ensuring their involvement, responsibility, and effective participation in the strategic management of the Company.

The remuneration system includes several elements and is based on the principles of transparency, objectivity, and consistency with corporate objectives. The main component is a fixed remuneration paid for participation in meetings and the conscientious performance of duties. The amount of the fixed payment is calculated based on the minimum wage established in the Republic of Uzbekistan and is equal to 80 times the minimum wage on the payment date.

If the results of the annual independent assessment of corporate governance and financial and economic activities are recognised as satisfactory or high, members of the Supervisory Board receive additional bonus remuneration. Its amount is determined in accordance with the provisions of the internal regulations and approved taking into account the achieved management performance indicators.

The remuneration system for members of the Management Board of Uzbektelecom JSC is based on best corporate governance practices and is focused on achieving the Company’s strategic goals. Remuneration includes a fixed component, variable payments, as well as social compensation and benefits.

The main element is fixed remuneration, determined based on the qualifications, management experience, and level of responsibility of each member of the Management Board. Payment is made on a monthly basis and represents a stable component of total income.

The variable component includes bonus payments calculated based on the achievement of key performance indicators (KPIs) approved by the Supervisory Board. Bonuses are determined based on the fulfillment of financial and operational targets, as well as progress on strategic initiatives.

Additional compensation and benefits are provided, including coverage of medical expenses, professional development, company transportation, and business travel.

The procedure for setting and reviewing remuneration is strictly regulated and based on performance appraisal results, which ensures transparency and fairness in decision-making.

Uzbektelecom JSC adheres to the principles of openness and accountability in the management of its remuneration system. All changes relating to the terms and amounts of payments are documented and reflected in the Company’s annual reports, including information disclosed in accordance with national legislation and international corporate governance standards.

The remuneration system is designed to strengthen the commitment and accountability of key management figures for achieving sustainable and long-term results.