Regarding Corporate Governance of NEC "Ukrenergo"

On October 10, 2024, the competitive selection for three independent members of the Supervisory Board of NEC "Ukrenergo" was announced.

NEC "Ukrenergo" faces critical tasks of maintaining the resilience of Ukraine's energy system during martial law and the process of European integration. Ensuring the operation of an independent Supervisory Board is a top priority, crucial for the company's management and functioning.

By strengthening the independence and effectiveness of the Supervisory Board, the Ministry of Energy aims to ensure that the company adheres to reliable corporate governance principles, guided by the best international practices. This process underscores the government's commitment to corporate governance reform, aimed at further enhancing trust, transparency, and long-term sustainability.

The open and competitive selection process for the three independent members of the Supervisory Board of NEC "Ukrenergo," announced by the Ministry of Energy on September 9, 2024, is linked to the expiration of the current independent members' terms in December 2024 as well as the recent resignation of 2 independent members.
The official announcement of the competitive selection can be found at the following link. Applications are accepted until October 31, 2024.

Qualified candidates are encouraged to participate in the selection process and contribute to the renewed governance structure of the company and its future success. 

The Ministry expects that by November 7, the selection consultant will conduct a preliminary assessment of the applications, interviews with candidates, and present a list of potential candidates for the vacant positions of the three independent members of the Supervisory Board of NEC "Ukrenergo" to the Nomination Committee.

This will enable the government to approve the candidates for the vacant positions by November 22, and the Ministry to issue an appointment order by November 24.

Additionally, the competitive selection of one independent member of the Supervisory Board of NEC "Ukrenergo," which began in 2023, is at its final stage.

Simultaneously, upon completion of the aforementioned competitive selections, the Ministry of Energy will determine and select state representatives for the Supervisory Board of NEC "Ukrenergo."

The selection and appointment of all Supervisory Board members of NEC "Ukrenergo"—four independent members and three state representatives—are planned to be completed by December 9, 2024.

As the sole shareholder of NEC "Ukrenergo," the Ministry of Energy seeks to ensure the continuity and stability of the company's key bodies and is taking all necessary measures to transparently and swiftly complete the formation of the renewed Supervisory Board, which will oversee the competitive selection of the Chairman of the Board of NEC "Ukrenergo."