Board Resolutions

2012

Thirty seven (37) Board meetings including one (1) in absentia were held in 2012 where 488 issues were discussed and resolutions made, including on:

• Organizational matters of affiliated companies and reorganization
• Dividend payout
• Review of internal documents of the Company
• Review of risk management reports
• Approval of the Company’s position as one of the shareholders of VolkovGeology JSC to vote at the shareholders’ meetings
• Assignment of Corporate Secretary
• Review of annual financial reporting for 2011
• Review of the divisions’ operating performance reports
• Aid projects
• 327 transactions of interest for the Company.

2013

Forty nine (49) Board meetings including six (6) in absentia were held in 2013 where 519 issues were discussed and resolutions made, including on:

• Organizational matters of affiliated companies
• Dividend payout
• Review of internal documents of the Company
• Review of risk management reports
• Approval of the Company’s position as one of the shareholders of VolkovGeology JSC to vote at the shareholders’ meetings
• Approval of the Company’s position as one of the shareholders of Ulba-Conversion to vote at the shareholders’ meetings
• Review of annual financial reporting for 2012
• Review of the divisions’ operating performance reports
• Aid projects
• Long-term loans for the Co0mpany’s employees
• Restructuring of non-core assets of the Company
• 375 transactions of interest for the Company.

2014

Fifty (50) Board meetings including nine (9) in absentia were held in 2014 where 491 issues were discussed and resolutions made, including on:

• Request for the Board election 
• Revision of the management structure
• Organizational matters of affiliated companies
• Dividend payout
• Review of the Company’s internal documents
• Review of risk management reports
• Approval of the Company’s position as one of the shareholders of VolkovGeology JSC to vote at the shareholders’ meetings
• Approval of the Company’s position as one of the shareholders of Ulba-Conversion to vote at the shareholders’ meetings
• Review of annual financial reports for 2013
• Review of the divisions’ operating performance reports
• Aid projects
• Long-term loans for the Company’s employees
• Restructuring of the Company’s non-core assets
• 370 transactions of interest for the Company.

2015

Sixty two (62) Board meetings (including five (5) in absentia) were held in 2015 where 477 issues were discussed and resolutions made, including on:

• Revisions and supplements to the Charter of the Company 
• Discussion of the staff list of the Company’s Central Administration Office
• Establishment of the Company’s Internal Audit Office
• Establishment of ULBA-FA LLP
• Organizational matters of affiliated companies
• Review of the Company’s internal documents
• Review of the Company’s risk-appetite level, risk registers and risk maps for 2016
• Review of the Company’s Risk Management Policy and Practice
• Review of risk management reports
• Approval of the Company’s position as one of the participants of JV Yingtan Ulba Shine Metal Materials Co., Ltd. to vote at the meetings of the participants
• Approval of the Company’s position as one of the shareholders of VolkovGeology JSC to vote at the meetings of the shareholders
• Approval of the Company’s position as one of the participants of ULBA-FA LLP to vote at the meetings of the participants
• Approval of the Company’s position as one of the participants of Ulba-Conversion LLP to vote at the meetings of the participants
• Review of annual financial reports for 2014
• Material assistance
• Restructuring of the Company’s non-core assets
• 340 transactions of interest for the Company.

2016

Sixty five (65) Board meetings (including eight (8) in absentia) were held in 2016 where 528 issues were discussed and resolutions made, including on:

• Revisions and supplements to the Charter of the Company and its affiliates;
• Revisions of the staff list of the Company’s Central Administration Office;
• Organizational matters of affiliated companies
• Review of the Company’s internal documents
• Review of the Company’s risk management reports;
• Approval of the Company’s position as one of the shareholders of VolkovGeology JSC to vote at the meetings of the shareholders
• Approval of the Company’s position as one of the participants of ULBA-FA LLP to vote at the meetings of the participants
• Approval of the Company’s position as one of the participants of Ulba-Conversion LLP to vote at the meetings of the participants
• Review of annual financial reports of the Company and its affiliates for 2015
• Material assistance
• Restructuring of the Company’s non-core assets
• 352 transactions of interest for the Company.

2017

60 meetings of the Board (12 in absentia) were held and resolutions on 474 issues were made in 2017 as follows:

• Modification and additions in the Charter of the Company and its affiliates;
• Modification of the staff schedule of the Company’s executive office;
• Organizational issues of the Company’s affiliates;
• Review of the Company’s internal documents;
• Review of the reports on risk management;
• Identification of the Company’s position as one of the shareholders of Volkovgeology JSC for voting at the meetings of shareholders;
• Identification of the Company’s position as one of the participants of Ulba-FA LLP for voting at the meetings of the participants of Ulba-FA LLP;
• Identification of the Company’s position as one of the participants of Ulba-Conversion LLP for voting at the meetings of the participants of Ulba-Conversion LLP;
• Review of the annual financial statements of the Company and its affiliates for 2016;
• Welfare assistance;
• 244 transactions of the Company’s interest.