Press Release

22 April 2016

Press Release

Today, on 22 April 2016, PJSC Kazanorgsintez hosted the Annual Shareholders Meeting summarizing the Company’s performance in 2015. The Meeting was attended by Tatarstan President Rustam Minnikhanov and representatives of the republic’s ministries and agencies.

General Director of PJSC Kazanorgsintez Farid Minigulov reported on the Company’s 2015 performance. He emphasized that despite the challenging crisis situation and intense business competition in the petrochemicals market, the previous year ended up bringing successful results.

In the reporting year, the Company manufactured commercial products worth RUB 68,801.4 million, thus exceeding the corresponding 2014 indicator by 27.2%. Index of physical volume of production amounted to 100.4%. In 2015, the net profit surpassed RUB 19.296 billion. The Company makes payments to various budgets and pays out wages timely and to full extent.

The shareholders approved the Annual Report and annual accounting statements, including financial results report of PJSC Kazanorgsintez for 2015.

The shareholders approved the distribution of the Company’s net profit. The decision provides for the dividend payout for the Company’s shares in the amount recommended by the Board of Directors:
- preference shares: 25 kopecks per share;
- ordinary shares: 322.61 kopecks per share.

The following candidates to the Board of Directors were elected during the Meeting:
1. Sergey V. Alekseyev, First Deputy General Director, JSC Svyazinvestneftekhim
2. Marat M. Garayev, First Deputy Head of Marketing and Gas and Liquid Hydrocarbons Processing Department, JSC Gazprom
3. Artyom A. Zdunov, Minister of Economy, Republic of Tatarstan
4. Milic Zeljko, Executive Director, IPCO-TRADING S.A.
5. Farid G. Minigulov, General Director, PJSC Kazanorgsintez
6. Vladimir V. Presnyakov, Deputy General Director for Refining and Petrochemicals, PSC TAIF
7. Aleksandr L. Rappoport, Managing Partner, Rappoport and Partners Law Firm
8. Damir Kh. Safiullin, Deputy Minister of Industry and Trade, Republic of Tatarstan
9. Dmitry I. Teslenko, Head of Finance and Economic Division, PSC TAIF
10. Ruslan A. Shigabutdinov, Deputy General Director for Corporate Governance, Property and Investments, PSC TAIF.
Based on the Golden Share right, Rinat K. Sabirov, Aide to the Tatarstan President, was appointed as the Board member representing the Government.

The shareholders elected the following members of the Company’s Audit Committee:
Tatyana A. Barchenkova, First Category Economist, Finance and Economic Division, PSC TAIF;
Yuliya V. Voronina, Senior Advisor, Expert Department of the Tatarstan President;
Aida R. Gandrakhmanova, Head, Planning and Economy Department, PJSC Kazanorgsintez;
Olga V. Ignatovskaya, Chief Accountant, PSC TAIIF.

Based on the Golden Share right, Fanis G. Gabdulkhakov, Head of Economic Analysis Department at Tatarstan Ministry of Finance, was appointed as the Audit Committee member representing the Government.

The Board appointed JSC PricewaterhouseCoopers the Company’s auditor.
The Annual General Shareholders Meeting was followed by the first meeting of the Board comprising its newly-elected members. At the suggestion of Tatarstan President Rustam Minnikhanov, the Board of Directors elected Ruslan A. Shigabutdinov as its Chairman.

For reference: PJSC Kazanorgsintez is one of the largest enterprises in the Russian Federation (member of TAIF Group). The Company produces over 38% of all Russian polyethylene thus being the leading exporter thereof. At present, the Company produces polyethylene and pipes thereof, phenol, acetone, bisphenol A, as well as polycarbonates. The overall products list includes 170 items. The Company’s annual output amounts to 1.6 million tons.

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