«APPROVED»

decision of the supervisory board

JSC "Uzkishlokelektrkurilish"

from May 23, 2019

POSITION

ABOUT INFORMATION POLICY

joint stock company

"Uzkishlokelektrkurilish"

1. This Regulation on information policy was developed in accordance with the laws of the Republic of Uzbekistan "On joint stock companies and protection of shareholders' rights" and "On the securities market", decrees of the Cabinet of Ministers from 02.07.2014 No. 176 "On measures to further improve the corporate governance system in joint stock companies" and dated 31.12.2013. No. 355 "On measures to introduce a system for assessing the state of development of information and communication technologies in the Republic of Uzbekistan", the Rules for the provision and publication of information on the securities market (reg. No. 2383 of July 31, 2012) and the Corporate Governance Code approved by the minutes of the Commission meeting to improve the efficiency of joint stock companies and improve the corporate governance system from 31.12.2015. No. 9.

This regulation determines the list of information and documents subject to mandatory disclosure, and also regulates the procedure and terms their provision to JSC "Uzkishlokelektrkurilish" (hereinafter - the Company).

2. The purpose of the information policy is to ensure openness and transparency of the company's activities by satisfying the information needs of shareholders, investors, professional participants in the securities market and other interested parties (hereinafter referred to as interested parties) for reliable information about the company and its activities.

3. The information policy is aimed at the full realization of the rights of interested parties to receive reliable information about the company and its activities that are essential for making investment and management decisions, as well as protecting confidential information about the company.

4. The procedure for classifying information as a commercial secret, definitions and conditions for access to it is determined by the company in accordance with the Law of the Republic of Uzbekistan "On commercial secrets" and other legislative acts.

BASIC PRINCIPLES OF INFORMATION POLICY

5. The basic principles of information policy are regularity, efficiency, availability, completeness, equality, balance, security of information resources.

6. The principle of regularity is aimed at providing the Company with information about the Company on a regular basis to interested parties.

7. The principle of efficiency means that the Company in a short time informs interested parties about significant events and facts affecting the financial and economic activities of the Company, as well as affecting their interests.

8. The principle of information accessibility means that the Company uses channels and methods of disseminating information about its activities, providing free, unhindered and indiscriminate access of interested parties to the information disclosed.

9. The principle of completeness means that the Company provides all interested parties with information that corresponds to reality, without evading from disclosure of negative information about oneself, to the extent that makes it possible to form a complete picture of the Company, of the results of the Company's activities.

10. The principle of equality means that the Company ensures equal rights to all interested parties in obtaining and accessing information about the activities of the Company.

11. The principle of balance provides for the maintenance of a reasonable balance between openness and transparency of the Company and ensuring its commercial interests. The prerequisites for this are:

protection of confidential information;

compliance with the rules for the dissemination and use of insider information established by legislation and internal documents of the Company.

12. The principle of security provides for the use of methods and means of protecting information, which is a commercial or other secret or is confidential information, permitted by law.

LIST OF INFORMATION SUBJECT TO OBLIGATORY DISCLOSURE IN ACCORDANCE WITH THE LEGISLATION, TIME AND PROCEDURE OF THEIR DISCLOSURE

13. The company discloses information subject to mandatory disclosure in volumes, terms and methods determined by the laws of the Republic of Uzbekistan "On Joint Stock Companies and Protection of Shareholders' Rights", "On the Securities Market", by Resolutions of the Cabinet of Ministers dated 02.07.2014. No. 176 "On measures to further improve the corporate governance system in joint stock companies" and from 31.12.2013. No. 355 "On measures to introduce a system for assessing the state of development of information and communication technologies in the Republic of Uzbekistan", the Rules for the provision and publication of information on the securities market (reg. No. 2383 from 31.07.2012) and other acts of legislation.

14. Mandatory disclosure of information is carried out:

on the Unified portal of corporate information (the official website of the authorized state body for regulating the securities market);

on the official website of the stock exchange (www.uzse.uz);

on the corporate website of the company (http://uzqeq.uz/);

in mass media.

15. Documents containing information subject to mandatory disclosure on the official website of the authorized state body for the regulation of the securities market or stock exchange are:

prospectus for the issue of securities (in the case of a public offering of securities);

the company's annual report, including those drawn up in accordance with with International Financial Reporting Standards;

the company's report on the results of the first quarter, first half of the year and nine months;

message about a material fact in the company's activities.

The Company discloses the above information in the terms, procedure and in the form established by the Rules for the provision and publication of information on the securities market (reg. No. 2383 of July 31, 2012).

16. In case of inclusion and (or) finding of the company's securities in the stock exchange quotation list of the stock exchange, the company discloses all necessary information in accordance with the requirements of the Regulation on the stock exchange bulletin.

If the shares are included in the stock exchange quotation list of the stock exchange, the company is obliged to publish on the Unified portal of corporate information and on the official website of the company information on the ownership of 5 or more percent of shares (stakes, shares) of other legal entities. In this case, such information must be published within 72 hours from the date of purchase of shares (shares, shares).

17. The Company has an official website (www.uzqeq.uz) and provides information disclosure on it, the list of which is determined by the Resolution of the Cabinet of Ministers dated 02.07.2014. No. 176 "On measures to further improve the corporate governance system in joint stock companies."

18. The following information is subject to mandatory disclosure in the media:

notification of the general meeting of shareholders;

notification of changes in location (postal address) and e-mail address of the company;

an offer to shareholders of the company, who have a pre-emptive right, to purchase shares or equity securities convertible into shares;

information on the redemption of shares by the company;

information on the liquidation of the company, as well as on the procedure and deadline for filing claims by its creditors.

LIST AND PROCEDURE FOR DISCLOSURE OF ADDITIONAL INFORMATION

19. The Society ensures the improvement of the Society's official website by creating a version of the website in English, Russian and other languages, convenient for interested parties with the placement on them of all the information available in the state language with translation into the appropriate language.

20. The Company discloses the following additional information on its official website:

information on the commitment to follow the recommendations of the Corporate Governance Code and its observance;

information about the executive body, including the period of work for the given company;

results of assessing the efficiency of the company's executive body and corporate governance system;

information on shareholders owning more than 20 percent of the company's shares;

substantiation of the proposed distribution of net profit, the amount of dividends, assessment of their compliance with the dividend policy adopted in the company, as well as, if necessary, explanations and economic justifications for the volumes of directing a certain part of net profit for the needs of the development of the company;

plans of the company for the implementation of expansion, reconstruction and technical re-equipment, implemented in the form of investment projects with an indication of the expected net profit;

if available, information on stock quotes, as well as the results of fundamental and technical analysis, comments and forecasts of specialists, experts and consultants;

if available, the value of the cost of capital by type of business of the company and the weighted average cost of the capital of the company with justification of the values of these indicators;

information on the procedure, conditions for providing (receiving) and making decisions on charitable (sponsorship) or gratuitous assistance, as well as the total amount compared to the business plan of charitable (sponsored) or gratuitous assistance provided (received).

21. Information on the amount of remuneration and compensation of the supervisory board and the executive body is disclosed at the general meeting of shareholders and is included to the minutes of the general meeting of shareholders.

22. The company shall ensure the disclosure of information about the company and in other sources provided for by the legislation for the disclosure of information.

PROCEDURE FOR EXCHANGE OF INFORMATION BETWEEN MEMBERS OF MANAGEMENT BODIES, OFFICERS, EMPLOYEES OF THE COMPANY WITH INTERESTED PERSONS

23. For the exchange of information between members of management bodies, officials, employees of the Company with interested parties, the Company carries out structural divisions based on the specification.

24. Upon written (electronic) request of interested parties on the provision of information stipulated by this Regulation, the responsible employee of the company provides all the necessary information in electronic form within one week, unless another period is established by law.

25. If it is necessary to provide a copy of documents, the interested person pays a fee, the amount of which cannot exceed the cost of making copies of documents and payment of costs associated with sending documents by mail.

26. Shareholders are not entitled to disclose information about the company or his activities, constituting an official, commercial or other secret protected by law.

MEASURES TO MONITOR COMPLIANCE WITH THE INFORMATION POLICY OF THE SOCIETY

27. Responsible for the disclosure of information provided by this Regulation and disclosure of information about society in the media are the corporate secretary of the company (if available) or a responsible employee of the Office of Corporate Relations with Shareholders, as well as a specialist in the Automated Management System (ASU).

Other persons, with the exception of the chief executive and his deputies have no right to speak on behalf of society.

The responsibility for the completeness, reliability and timeliness of disclosure lies with the Head of the Executive Body of the Company.

The Company's supervisory board hears the executive body's report on the progress of the requirements of this Regulation on a quarterly basis.

FINAL PROVISIONS

28. The executive body of the company is responsible for the organization, condition and reliability of information disclosed in accordance with this Regulation.

Timely, high-quality, reliable and complete disclosure of information is one of the main criteria for assessing the effectiveness of the executive body and a condition for the payment of remuneration (bonuses) to it.

29. Persons guilty of violating the requirements of this Regulation shall be held liable in the prescribed manner.

30. These Regulations are approved by the decision of the Supervisory Board of the Company by a majority of votes of its members who participated in the meeting or took part in absentee voting.

31. Changes and additions to this Regulation are made by decision of the Supervisory Board of the Company, adopted by a majority of votes of its members.