Fred Zuliu Hu

Member of the Board of Directors of the Holding Company – Independent Director.

Date of birth: 1 June 1963

Citizenship: Hong Kong

Education

In 1986, he graduated from Tsinghua University in Beijing, China, with a Master’s degree in Engineering.

In 1993, he received a Master of Arts degree and a Doctor of Philosophy (Ph.D.) degree in Economics from Harvard University in Cambridge, USA.

Professional Experience

From 1991 to 1996, he worked as an economist at the International Monetary Fund.

From 1996 to 2009, he served as a professor and Co-Director of the National Center for Economic Research at Tsinghua University.

From 1997 to 2010, he held the positions of Managing Director, Partner and Chairman of Greater China at Goldman Sachs.

Since 2010, he has been the Founder, Chairman and Chief Executive Officer of Primavera Capital Group, an international investment firm specialising in investment management and private equity.

He is Non-Executive Chairman of Yum China Holdings, Inc. and an independent director of UBS Group AG and Chubb Limited. He previously served as an independent director of the Industrial and Commercial Bank of China, Ant Financial Group, and Hong Kong Exchanges and Clearing Limited.

He has advised the Government of the People’s Republic of China on financial reform, the restructuring of state-owned enterprises, and macroeconomic policy.

By the decision of the Sole Shareholder, pursuant to Order #160 of the Ministry of National Economy of the Republic of Kazakhstan dated 30 June 2026, he was elected as a member of the Board of Directors of Baiterek NIH JSC.

He does not own any shares in the Holding or any shares or ownership interests in legal entities that are suppliers or competitors of the Holding.