Board Committees Report.pdf

Paul Ostling (Chairman), Sir Robert Margetts, Gordon Sage, Anna Kolonchina
- Targets for 2013: risk management, internal audit, corporate governance, external audit, reporting, monitoring of KPIs
- Achievements: monitored risk minimization plans, developed recommendations for IFRS reports, reviewed risk matrix, monitored corporate governance quality
- Targets for 2014: continue monitoring risk minimization plans, update risk matrix, monitor corporate governance quality, compliance system
- Payments for audit services: RUB 37,512,200 to ZAO PriceWaterhouseCoopers Audit
- Payments for consulting services: RUB 17,086,243 to PriceWaterhouseCoopers Russia B.V.
- Ratio of audit to consulting fees: 69% to 31%, deemed not to compromise auditor independence

Corporate Social Responsibility Committee:
- Members: Sir Robert Margetts (Chairman), Paul Ostling, Gordon Sage, Viktor Belyakov, Anton Averin
- Targets: health, safety, and environment (61.5%), accidents and injuries (15.4%), social matters (15.4%), activity plans and reports (7.7%)
- Achievements: developed Sustainability Report, monitored HSE performance, stakeholder engagement, HSE activities
- Targets for 2014: production waste management, HSE activities review, stakeholder engagement, energy saving program, mine safety

Appointments and Remuneration Committee:
- Members: Pavel Grachev (Chairman), Paul Ostling, Sir Robert Margetts, Gordon Sage, Anna Kolonchina
- Targets: achievement of KPIs, recommendations for KPIs, Board performance review, HR-related projects
- Achievements: assessed management performance, considered succession plan, reviewed labor market and salary levels
- Targets for 2014: management performance assessment, talent pool and succession plan, long-term incentive plan, headcount issues

Investment and Development Committee:
- Members: Anton Averin (Chairman), Paul Ostling, Sir Robert Margetts, Gordon Sage, Anna Kolonchina, Pavel Grachev
- Targets: investment projects (31.4%), dividends (5.7%), strategy (14.2%), other matters (23.1%), budgeting (11.4%), market development projects (14.2%)
- Achievements: considered functional strategies, monitored investment projects, budgeting process, strategic initiatives
- Targets for 2014: functional strategies, investment projects, budgeting process, strategic initiatives, marketing projects, distribution development plans