General Meeting of Shareholders

The General Meeting of Shareholders is the Company’s supreme governing body and decides on the most crucial matters that cannot be left to the authority of other governing bodies.

Following the idea of treating all of its stakeholders equally, the Company tried to post materials for the General Meetings of Shareholders in both English and Russian in 2022.

The Company makes materials for the General Meeting of Shareholders available to shareholders at the Company’s offices and, no later than 30 days before the date of the relevant meeting, publishes all necessary materials on the Company’s website (previously www.russaquaculture.ru) in the General Meetings of Shareholders section and on the Company’s page on the website of the agency authorised to disclose information on the Russian securities market – Interfax LLC – Corporate Information Disclosure Centre.

Following the adoption of Decree No. 351Decree No. 351 of the Government of the Russian Federation dated 12 March 2022 on Peculiarities of Disclosure and Provision of Information to be Disclosed and Provided in accordance with the requirements of the Federal Law on Joint Stock Companies and the Federal Law on Securities Market, and peculiarities of insider information disclosure in accordance with the requirements of the Federal Law on Combating Insider Information Misuse and Market Manipulation and on Amending Certain Legislative Acts of the Russian Federation. dated 12 March 2022 by the Government of the Russian Federation, which allowed securities issuers to restrict or refuse public disclosure of information to be disclosed in accordance with the requirements of federal lawsFederal Law No. 208-FZ dated 26 December 1995 (as amended on 7 October 2022 and as amended on 19 December 2022) On Joint Stock Companies and Federal Law No. 39-FZ dated 22 April 1996 (as amended on 20 October 2022 and as amended on 19 December 2022) On the Securities Market. due to the risk of restrictive measures against issuers or members of their governing bodies, the Company made limited public disclosure of information during the reporting period. The Company did not, however, deny shareholders access to documents containing non-disclosed information when they sought it.

The Company set up a dedicated email address, to which shareholders can send a scanned copy of the corresponding signed statement and confidentiality agreementDocument forms are available on the Company’s official website in the Shareholder Contacts section. if they wish to review the Company’s documents. Shareholders can also use this email address to send their questions and suggestions to the Company’s CEO, Chair and other members of the Board of Directors.

The Company did not violate any shareholders’ rights during the reporting period, and no corresponding administrative action was taken against it.

Results of the General Meeting of Shareholders held in 2022

In the reporting year, the Company held five General Meetings of Shareholders, of which one was held in the form of joint presence of shareholders and four – in the form of absentee voting.

The following decisions were taken at the extraordinary General Meeting of Shareholders held on 20 January 2022.

1. To approve interested-party transaction No. 086401/21 dated 8 December 2021 between Moscow Credit Bank PJSC (Lender) and Russian Aquaculture PJSC (Guarantor) to secure the obligations of RM — Aquaculture LLC (Borrower) under Loan Agreement No. 0864/21 dated 8 December 2021.
2. To approve Atlas Audit Limited Liability Company (Atlas Audit LLC) (OGRN 5147746074251) as the Company’s auditor responsible for auditing the Company’s 2021 financial statements prepared under Russian Accounting Standards (RAS).
3. To approve the new version of the Regulations on the Board of Directors of the Company.

The following decisions were taken at the annual General Meeting of Shareholders held on 23 June 2022.

1. To approve the Annual Report of the Company for 2021.
2. To approve the annual accounting (financial) statements of the Company for 2021.
3. Not to distribute profits earned by the Company at the end of 2021. No dividend to be paid.
4. To approve Amendment No. 4 to the Charter of the Company.
5. To determine the number of Board members of the Company – eight persons.
6. To elect the following persons to the Board of Directors of the Company:
   • Sayyora Ayupova
   • Anna Vasilenko
   • Dmitry Vasilkov
   • Arne Geirulv
   • Roman Kascheyev
   • Andrey Marchenko
   • Vladislav Pogulyayev
   • Ekaterina Chernova;
7. To approve the sums paid to the Company’s Board members as compensation for their service on the Board of Directors.
8. To approve Atlas Audit LLC (OGRN 5147746074251) as the Company’s auditor to audit the Company’s RAS financial statements for 2022.
9. To approve Joint Stock Company Business Solutions and Technologies (BST JSC) (OGRN 1027700425444) as the auditor responsible for the audit of the Company’s 2022 consolidated financial statements prepared under the International Financial Reporting Standards (IFRS).
10. To approve the new version of the Regulations on Remuneration and Compensation for Members of the Board of Directors of the Company.

No decisions were taken by the General Meeting of Shareholders on the following issues:

• On the election of the members of the Auditing Commission of Russian Aquaculture PJSC
• On approval of the sums paid to members of the Auditing Commission of Russian Aquaculture PJSC for serving on the Auditing Commission

The following decisions on the agenda items were taken at the extraordinary General Meeting of Shareholders held on 30 June 2022.

1. To distribute the Company’s profit for the three months of 2022 as follows:
   • To pay a dividend of RUB 8.00 per ordinary share in cash
   • To recommend that the record date (on which the persons eligible to receive dividends are determined) be 11 July 2022
   • To pay out dividends to shareholders in compliance with the timelines and procedures provided by the applicable Russian Federation laws
   • To leave the remainder of the Company’s profits at the Company’s disposal
2. To approve the new version of the Company’s Charter.

The following decisions were taken at the extraordinary General Meeting of Shareholdersheld on 31 August 2022.

1. To distribute the Company’s profit for the first half of 2022 as follows:
   • To pay a dividend of RUB 15.00 per ordinary share in cash
   • To recommend that the record date (on which the persons eligible to receive dividends are determined) be 11 September 2022
   • To pay out dividends to shareholders in compliance with the timelines and procedures provided by the applicable Russian Federation laws
   • To leave the remainder of the Company’s profits at the Company’s disposal
2. To approve interested-party transaction No. 013501/22 dated 25 April 2022 between Moscow Credit Bank PJSC (Lender) and Russian Aquaculture PJSC (Guarantor) to secure the obligations of RM — Aquaculture LLC (Borrower) under Loan Agreement No. 0135/22 dated 25 April 2022.
3. To approve the new version of the Company’s Charter.
4. To approve the new version of the Regulations on the General Meeting of Shareholders of the Company.

The extraordinary General Meeting of Shareholders held on 7 December 2022 decided to distribute the Company’s profit for the first nine months of 2022 as follows:

• To pay a dividend of RUB 15.00 per ordinary share in cash
• To recommend that the record date (on which the persons eligible to receive dividends are determined) be 18 December 2022
• To pay out dividends to shareholders in compliance with the timelines and procedures provided by the applicable Russian Federation laws
• To leave the remainder of the Company’s profits at the Company’s disposal

This mechanism greatly improved the participation of minority shareholders in the Company’s general meetings.

The average number of votes cast by shareholders attending the Company’s General Meeting of Shareholders in 2022 was 82.47%, slightly lower than in 2021 due to the absence of the will expressed by non-resident shareholders who had been actively voting in previous periods.

Except for cumulative voting on the election of the Company’s Board members, voting at the General Meeting of Shareholders is done in line with the rule of ‘one voting share - one vote’The Company adheres to the principles set out in the Bank of Russia’s Corporate Governance Code, recognises the best international corporate governance practices and does not allow voting of quasi-treasury shares at general meetings of shareholders..

All decisions at the General Meeting of Shareholders are made by a majority vote of the holders of the Company’s voting shares attending the meeting. Clause 5.17 of the Company’s Charter defines the matters to be decided by a qualified majority voting. These include:

• Amending the Company’s Charter or approving a new version of the Charter
• Acquiring outstanding shares by the Company in cases provided for by law
• Determining the number, par value, category (type) of authorised shares and the rights conferred by these shares
• Making decisions on the consent or subsequent approval of major transactions in cases provided for by law
• Deciding to apply for delisting of the Company’s shares and/or equity-linked shares, bonds and options of the Company
• Restructuring the Company
• Winding up the Company, appointing a winding-up board and approving the interim and final liquidation balance sheets

The Company’s independent registrar, Joint Stock Company Independent Registrar Company — R.O.S.T. (IRC-R.O.S.T. JSC), handles the duties of the tabulation commission at the General Meeting of Shareholders.

More information on the results of the votes and decisions taken at the general meeting of shareholders during the reporting year can be found on the Company’s website.