EXTRACT from the PROTOCOL

EXTRACT from the PROTOCOL

the meeting of the Supervisory Board

JSC «Farg'onaazot» on the fourth item on the agenda

Fergana city № 6 November 7, 2015

Date of report: November 7, 2015.

Chaired by:

Ibragimov Normat Sadullaevich - Chairman of the Board of JSC "Uzkimyosanoat"

Ateended: members of the Supervisory Board

Yusupbaev Sh.M. - The chief specialist of the Cabinet of Ministers

Atabaev L.H. - Deputy Head of EAPiP JSC "Uzkimyosanoat".

Azlarov AB - Head of the Technical Development of JSC "Uzkimyosanoat".

Mirsalimov F.A.- director of «FRSMU-2"

Invited:

1. Salijanov A.T. - Chairman of the Board of JSC «Farg'onaazot»

2. Members of the Management Board.

AGENDA:

4. About the appointment of chairman and members of the Board of JSC «Farg'onaazot».

On the fourth issue addressed Ibragimov N.S.- Chairman of "Uzkimyosanoat", Chairman of the Supervisory Board.

As everyone knows, in accordance with the Decree of the President of the Republic of Uzbekistan "On measures for the introduction of modern methods of corporate governance in joint stock companies" protocol "of the Commission on improving the efficiency of joint-stock companies and improve the corporate governance system" from 08.05.2015g. №4, as well as with a letter indicating the Goskomkonkurentsiya Uzbekistan and SUE "Center for Management of State Assets" from 05.10.2015g number 02 / 06-2256 consideration of the extension of the powers of (the possibility of extension, renewal or termination of the contract), the chairman and members of the Management Board left to the appraisal of the director and his deputies.

In accordance with paragraph 3 of the Decree of the President of the Republic of Uzbekistan from 24.04.2015g. UP-4720, a protocol to the Commission to improve the effectiveness of the system of corporate governance from 05.14.2015 years №02-02 / 1-187 were certified management staff of joint stock companies with state share under the chairmanship Goskomkonkurentsiya of Uzbekistan, heads of the working committee №3 DA .Hidoyatovym.

As a result of certification, according to the minutes of the meeting of the working of the Republican Commission for the certification of the administrative board of joint stock companies with the state share from 11 August 2015 №3, at JSC «Farg'onaazot»:

- Vetted and considered appropriate for the position:

1.Salijanov Abdupatta Tulanovich - Chairman of JSC «Farg'onaazot».

2.Pak Dmitry G. - chief engineer of JSC «Farg'onaazot».

- Are treated as conditional certification and conformity of a post conditional:

1.Ismailov Akramjon Bozorboevich - Deputy Chairman of the Board of JSC «Farg'onaazot».

2.Holmatov Akmaljon Homidjonovich - Deputy Chairman of the Board of JSC «Farg'onaazot».

3.Kayumov Mahmud Mukhamedovich - Deputy Chairman of the Board of JSC «Farg'onaazot».

- Considered as decertified and inconsistent position:

1.Turakulov Rustam Odilovich - Deputy Chairman of the Board of JSC «Farg'onaazot».

Further, it is noted that in accordance with the Charter, the powers of the executive body of the education community, the election (appointment) of Chairman of the Management Board and members of the board, as well as early termination of their powers fall within the competence of the Supervisory Board of the Company.

In connection with the foregoing, the chairman of the Supervisory Board Ibragimov N.S. offered:

1. To take into note of attestation of heads and deputy heads and to appoint the board of the following persons to the AGM:

- Chairman of the Board - Salijanov Abdupatta Tulanovich;

- Members of the Board:

1) First Deputy Chairman of the Board Abdullayev Abduhashim Abdullaevich;

2) Production Director Pak Dmitriy Gennadyevich;

3) Director of Finance Holmatov Akmaljon Homidjonovich;

4) Director of Social-household issuesKayumov Mahmud Muhamedovich;

5) Chief Accountant Jamalov Alisher Djalilovich;

6) Head of Treasury and Finance Mamajanov Alisher Khasanovich;

7) Head of the Department for Social-household issues and work wit the public

Omonov Ibrohimjon Alijonovich;

8) Legal Counsel Mahkamova Nasiba Umarovna;

2.To terminate the powers of the director of marketing, sales, procurement and international cooperation - a member of the Board Rustam Turakulov Odilovich.

3.Temporarily appointed acting director of marketing, sales, procurement and international cooperation Borodavko Oleg Anatolyevich for the period prior to the competitive selection for the post.

4.Chairman of the Supervisory Board in the prescribed manner to conclude a contract of employment with the chairman and the contract with the members of the Board of the Company.

5.Chairman of the board indicate the need for re-certification of board members decertified suspended in the prescribed manner.

A discussion was held, the results of which applied to vote on the issue the following statement:

A discussion was held, following which asked to vote on the issue the following statement:

1. To take into note of the certification of the republican working commissions to evaluate the management team of joint stock companies with the state share from 11 August 2015 №3, at JSC «Farg'onaazot», and appoint the board of the following persons to the AGM:

- Chairman of the Board - Salijanov Abdupatta Tulanovich;

- Members of the Board:

1) First Deputy Chairman of the Board Abdullayev Abduhashim Abdullaevich;

2) Production Director Pak Dmitriy Gennadyevich;

3) Director of Finance Holmatov Akmaljon Homidjonovich;

4) Director of Social-household issuesKayumov Mahmud Muhamedovich;

5) Chief Accountant Jamalov Alisher Djalilovich;

6) Head of Treasury and Finance Mamajanov Alisher Khasanovich;

7) Head of the Department for Social-household issues and work wit the public

Omonov Ibrohimjon Alijonovich;

8) Legal Counsel Mahkamova Nasiba Umarovna;

2.To terminate the powers of the director of marketing, sales, procurement and international cooperation - a member of the Board Rustam Turakulov Odilovich.

3.Temporarily appointed acting director of marketing, sales, procurement and international cooperation Borodavko Oleg Anatolyevich for the period prior to the competitive selection for the post.

4.Chairman of the Supervisory Board in the prescribed manner to conclude a contract of employment with the chairman and the contract with the members of the Board of the Company.

5. TheCompany'sexecutivebodies:

- To place information in the media about the job, qualifications, and to provide this information in Goskomkonkurentsiya Uzbekistan for posting on the web site

- Organize competitive selection for the vacant position of the established order.

6.Chairman of the board indicate the need for re-certification of board members decertified suspended in the prescribed manner.

Voting results:

1. "for" - 5 "against" – none, "abstained" - none.

2. "for" - 5 "against" – none, "abstained" - none.

3. "for" - 5 "against" – none, "abstained" - none.

4. "for" - 5 "against" – none, "abstained" - none.

5. "for" - 5 "against" – none, "abstained" - none.

6. "for" - 5 "against" – none, "abstained" - none.

On the agenda of decision:

- Chairman of the Board - Salijanov Abdupatta Tulanovich;

- Members of the Board:

1) First Deputy Chairman of the Board Abdullayev Abduhashim Abdullaevich;

2) Production Director Pak Dmitriy Gennadyevich;

3) Director of Finance Holmatov Akmaljon Homidjonovich;

4) Director of Social-household issuesKayumov Mahmud Muhamedovich;

5) Chief Accountant Jamalov Alisher Djalilovich;

6) Head of Treasury and Finance Mamajanov Alisher Khasanovich;

7) Head of the Department for Social-household issues and work wit the public

Omonov Ibrohimjon Alijonovich;

8) Legal Counsel Mahkamova Nasiba Umarovna;

2.To terminate the powers of the director of marketing, sales, procurement and international cooperation - a member of the Board Rustam Turakulov Odilovich.

3.Temporarily appointed acting director of marketing, sales, procurement and international cooperation Borodavko Oleg Anatolyevich for the period prior to the competitive selection for the post.

4.Chairman of the Supervisory Board in the prescribed manner to conclude a contract of employment with the chairman and the contract with the members of the Board of the Company.

5. TheCompany'sexecutivebodies:

- To place information in the media about the job, qualifications, and to provide this information in Goskomkonkurentsiya Uzbekistan for posting on the web site

- Organize competitive selection for the vacant position of the established order.

6.Chairman of the board indicate the need for re-certification of board members decertified suspended in the prescribed manner.

The authenticity of this extract from the minutes of the meeting of the Supervisory Board of 07.11.2015g. №6 for reaffirm

Member of the Supervisory Board Mirsalimov F.A.