Company: FRHC
Filing Date: 2025-07-29
Form Type: DEF 14A
Source: 0000924805-25-000025
Chunk: 18

Company: Freedom Holding Corp.
Filing Date: 2025-07-29
Form: DEF 14A
Chunk 18
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 Zhumagulov is a digital banking expert with two decades of experience in the financial sector. He is a Member of the Board of Directors of Freedom Bank KZ, a position he has held since May 2024, and he holds the executive position of Advisor to the Development and International Cooperation department of Freedom Global and is member of the respective supervisory boards of Company subsidiaries Aviata LLP, Internet Tourism LLP, and Comrun LLP. From December 2020 to May 2024, he held the executive position of Advisor to the Board of Directors of Freedom Bank KZ and, from April 2019 to May 2022, he held the executive position of Advisor to the Office of Chairman of the Board of Directors of Freedom KZ. Before joining the Company, Mr. Zhumagulov held various managing positions in the banking sector and at a Kazakhstan retail company. Specifically, he served as Managing Director at Bank of Astana JSC from 2015 to 2016, Vice President of Kazakhyuvelir JSC, a large jewelry company, from 2013 to 2015. In addition, he was employed in various senior positions at CB Russian Slavonic Bank CJSC in Moscow, Russia from 2011 to 2013, Alliance Bank JSC from 2010 to 2011, Nurbank JSC from 2008 to 2010, and Bank Caspian JSC from 2004 to 2008, being primarily responsible for development of retail banking products. Mr. Zhumagulov is a graduate of Ryskulov Kazakh Economic University in Almaty, Kazakhstan and holds an MBA degree from City Business School.

There are no arrangements or understandings between any of our executive officers and any other person pursuant to which such individual was selected as an executive officer.

### CORPORATE GOVERNANCE
Director Independence

Our common stock is listed on the Nasdaq Capital Market and, accordingly, the following determinations of director independence are based upon the rules of the Nasdaq Stock Market. Because Timur Turlov owns approximately 70% of our common stock as of July 29, 2025 and holds greater than 50% of the voting power for election of directors, the Company is a “Controlled Company” as defined by Rule 5615 of the Nasdaq Stock Market rules. As such, we are not required to have a majority of independent directors on our Board, nor are we required to have a nominating