“Mongolian Stock Exchange” JSC offered 34% of its total shares to the public in 2022 and became a publicly listed company. Since then, the first Board of Directors (BoD) has successfully exercised its authority over a three-year term by establishing the foundation of corporate governance for a public company, as well as strengthening oversight, monitoring, and management systems. On July 1, 2026, the Board officially handed over its duties to a new composition.

During its term, the Board implemented a wide range of initiatives aimed at enhancing corporate governance, control, and management systems. Key highlights of its consolidated performance include:

• The Board held a total of 75 meetings, discussing 218 agenda items, and issued 48 minutes and 199 resolutions.

Committee activities:

• Audit Committee: 30 meetings, 67 issues discussed

• Nomination Committee: 19 meetings, 24 issues discussed

• Remuneration Committee: 13 meetings, 13 issues discussed

• Risk Committee: 3 meetings, 3 issues discussed

To ensure independent and objective evaluation of the effectiveness of the company’s risk management, internal control, and governance systems—and to support continuous improvement—an Internal Audit Unit was established in November 2023. This unit conducted 25 audit reviews and monitoring activities across 12 areas, identified 56 issues, and presented them to the Board and its committees for discussion and resolution.

As a result of these efforts, the company’s internal control system has been progressively strengthened, creating conditions for improved performance and accountability. Oversight of the implementation of Board decisions has become more consistent, marking a significant step toward enhancing transparency, operational efficiency, and governance capacity.

For the full report of the Board of Directors, please click here.

MONGOLIAN STOCK EXCHANGE