Corporate Governance

TENEX is building up its corporate governance system following the best Russian and international practices and standards.

The corporate procedures are performed in full compliance with the requirements of the applicable Russian legislation and the Company’s constituent documents. Certain principles and recommendations of the Corporate governance code are applied by reference to specific features associated with TENEX having the Sole Shareholder, with the characteristic aspects of the legal status of ROSATOM, which provides the unity in management of the nuclear industry organizations, as well as with the Company’s securities not being subject to the listing.

Under TENEX’s Articles of Association, the company’s corporate bodies are:

• General shareholder meeting (represented by the company’s sole shareholder)
• Board of Directors
• Director General (the chief executive officer)

The general shareholder meeting represented by the sole shareholder — JSC Atomenergoprom is the supreme corporate body of TENEX. Within the competence of the sole shareholder are decisions related to the company’s key areas of activity, including the appointment of the Board of Directors.