From 27 July to 2 August 2026, the independent members of the Supervisory Board, Tanya Chikanza and Alexander Blumhardt, paid a working visit to Joint-Stock Company “Almalyk Mining and Metallurgical Complex”.

The visit marked another important milestone in the systematic work being carried out at JSC “Almalyk MMC” (hereinafter referred to as the Company) to further improve its corporate governance system, enhance the effectiveness of its governing bodies, and implement best international practices in the Company's management system.

The visit included a series of working meetings, strategic sessions, and talks with the plant's management. Discussions included the effective implementation of major investment projects, improving financial models, further enhancing the effectiveness of the Supervisory Board, and developing a corporate governance system based on international ESG principles and best global practices.

Special attention was paid to improving the quality of strategic management. The discussions addressed mechanisms for enhancing the effectiveness of interaction between the Supervisory Board and the executive body, improving internal control and risk management systems, enhancing the quality of corporate reporting, and further strengthening the transparency and accountability of management decisions.

Following the working meetings, independent members of the Supervisory Board presented practical recommendations aimed at further developing corporate governance, enhancing the effectiveness of management bodies, and effectively implementing the Company's strategic initiatives.

Furthermore, priority areas of work for the second half of 2026 were identified, the implementation of which will contribute to further strengthening the Company's governance system, improving the quality of strategic planning, and the effectiveness of long-term investment projects.

The high level of corporate governance at the Company is also confirmed by the results of an independent assessment. Based on the results of 2025, the independent auditing firm Winvestment Consult conducted a comprehensive assessment of the Company's corporate governance system.

According to the assessment results, AMMC scored 958 points. This indicator demonstrates the high level of development of corporate governance at the Company, the effectiveness of management bodies, adherence to the principles of transparency, responsibility, and accountability, as well as a high level of compliance with modern corporate governance requirements.

Today, corporate governance is one of the most important strategic factors ensuring the sustainable and long-term development of AMMC. The consistent implementation of international standards and principles, constructive engagement with independent members of the Supervisory Board, improvement of strategic management mechanisms, and systematic development of corporate processes create a solid foundation for the Company's further development.

Along with the implementation of large-scale investment projects, modernization of production facilities, and enhancement of technological potential, AMMC is consistently strengthening its corporate institutions. This is essential for improving management efficiency, investment attractiveness, and building trust with shareholders, investors, partners, and other stakeholders.

This comprehensive approach allows AMMC not only to strengthen its leading position in the mining and metallurgical industry of Uzbekistan but also to consistently and confidently achieve long-term strategic goals, relying on modern principles of corporate governance.

Sh.Nazarova,

Head of the Corporate Secretariat of JSC “AMMC”