The Company operates with two boards, the Board of Directors and a separate Management Board (the executive body). The Chief Executive Officer, who heads the Management Board, is also a director of the Company. He is the only representative of the Management Board who is also a member of the Board of Directors. The Board of Directors therefore only contains one executive member of the Company’s management. In order to improve the balance of the Board of Directors, the Company appointed three Independent Non-Executive Directors, being Christopher Mackenzie (resigned from the Board on March 2010), Paul Manduca and Edward Walshe, at the time of the IPO. The other four members of the Board of Directors, including its Chairman, Askar Balzhanov, are representatives of NC KMG.

Managing Director on Exploration and Production of NC KMG, Chairman of the Board and Non-Executive Director

Askar Balzhanov was the CEO of the Company from June 2006 to May 2009. Elected to the BoD in June 2006 and on 30 March 2010 became its Chairman. Prior to this, he was General Director of JSC KazMunaiTeniz, a subsidiary of NC KMG specialising in off-shore oil and gas operations. After graduating from the Moscow Institute of Petrochemical and Gas Industry, he has gained broad experience in the oil and gas field working in various positions in a range of hydrocarbon enterprises including Embaneft PA, KazakhstanNefteGas SE, KazakhstanMunayGas SE, KazRosGas CJSC, and NC KMG.

Managing Director for Corporate Center of NC KMG

Tolegen Bozzhanov graduated from the State University of Kazakhstan specializing in Physics. He has also graduated from the Construction Academy of Kazakhstan specializing in Economics and was awarded a Degree in Economics from the University of Warwick (UK). From July 2008 he works as a Vice-President of NC KMG. From 2006 till July 2008 he was a General Director of JSC Trading House KazMunayGas, and prior to that from August 2004 till 2006 Mr Bozzhanov worked as an Executive Director of JSC NC KazMunayGas.

General Manager on Legal Support of NC KMG

Yerzhan Zhangaulov was appointed Managing Director of NC KMG on 6 June, 2006 and was elected as a director of KMG EP on 12 June 2006. Prior to this appointment he was Executive Director on Legal Support of NC KMG. He also headed the legal service and HR department in the Administration of the President of Kazakhstan and was the adviser to the Vice-President in NC KMG. He obtained a law degree in Karaganda State Institute in 1992.

General Director, Chairman of the Management Board of KMG EP

Kenzhebek Ibrashev prior to becoming the CEO of KMG EP in June 2009, held the position of Vice President of NC KMG on exploration and production, and since October 30, 2007 has been a member of the KMG EP Board of Directors. Mr Ibrashev graduated from the Moscow Institute of Petrochemical and Gas Industry. He has gained broad experience working in a number of senior positions in the oil and gas industry. Mr Ibrashev worked as Director for business development at Agip Kazakhstan North Caspian Operating NV from 2003 to 2005. He was First Deputy CEO, and CEO of KazMunayTeniz in 2005-2007.

Finance Director of NC KMG

Assia Syrgabekova was appointed Managing Director of economics and fnances at nc KMG in July 2006 and was elected as a director of KMG EP on 26 March 2010. Prior to this appointment she was First Deputy chairman at halyk Bank from October 2003 as well as the chairwoman of the Management Board of halyk Bank of the Republic of Kazakhstan from 2004 to 2005. From 1998 to 2003 Ms. Syrgabekova worked in the national oil and gas company holding various top management positions in KazakhOil, KaztransGas. She graduated from Kazakh state University’s Department of Economics in 1982.

Independent Director of the Company

Paul Manduca has extensive asset and investment management experience having worked as CEO for companies such as Threadneedle Asset Management, Rothschild Asset Management, Deutsche Asset Management in UK and Europe starting from 1973. Mr Manduca has served on a number of boards as an independent director in the last 10 years and at various points he has headed audit, remuneration and appointment committees of such boards. He holds a Master’s degree from University of Oxford (Modern Languages). He was elected as a director of the Company on 28 August 2006. Paul is the Chairman of the Audit Committee and a member of the Remuneration Committee.

Independent Director of the Company

Edward Walshe has over 35 years experience in the oil and gas sector. Mr Walshe has worked in various roles at British Petroleum and British Gas including the overseas exploration and productions operations of these companies in Nigeria, Abu-Dhabi, Central Asia and South-East Asia. Mr Walshe has a PhD in Solid State Chemistry from the University of Dublin. He was elected as a director of the Company on 28 August 2006. Edward is the Chairman of the Stratigy planning committee and a member of the Audit, Remuneration and Nominations Committees.

Independent Director of the Company

Philip Dayer LLB FCA qualified as a chartered accountant with KPMG and then pursued a career for 25 years in investment banking, specialising in advising UK listed companies. He gained extensive experience working for companies such as Barclays de Zoete Wedd and Citicorp. He retired from ABN AMRO Hoare Govett in 2005. Since then he has acted as an adviser to Rosneft on their successful flotation in 2006 and currently sits on a number of boards, including Dana Petroleum and AVEVA Group, as an independent director. Philip joined KMG EP Board of Directors in May, 2010.

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