KAZ MINERALS GROUP Production Report for six months and THE second QUARTER Ended 30 June 2020

• Highlights
  • H1 2020 copper production¹ increased by 4% to 153.8 kt (H1 2019: 147.6 kt) driven by high ore throughput and improved grades at Bozshakol
  • Gold production² increased by 25% to 109.7 koz (H1 2019: 87.7 koz) due to higher processing volumes and grades at Bozshakol
  • All metals currently on track to achieve full year production guidance but Covid-19 risks elevated in second half
• Aktogay
  • First half copper production¹ of 67.6 kt (H1 2019: 74.1 kt) as stronger than planned sulphide copper grades of 0.56% (H1 2019: 0.58%) were offset by temporarily lower recovery rates and ore throughput in Q1
  • Q2 copper production¹ increased by 3% to 34.3 kt (Q1 2020: 33.3 kt) due to higher recovery rates and ore throughput following scheduled maintenance in January
  • On track for full year copper production¹ guidance of 120-130 kt, lower grades expected in the second half
• Bozshakol
  • Copper production² increased 28% in H1 2020 to 60.4 kt (H1 2019: 47.1 kt) with higher grades and an 18% increase in ore throughput, due to deferral of maintenance and the suspension of the clay plant in H1 2019
  • First half gold production² 40% higher at 83.3 koz (H1 2019: 59.6 koz), also benefiting from higher processing volumes and grades
  • Full year copper and gold guidance unchanged at 110-120 kt and 140-150 koz with scheduled maintenance in the second half
• East Region and Bozymchak
  • Copper production² in H1 2020 of 25.8 kt (H1 2019: 26.4 kt) with increased output in Q2 of 14.0 kt (Q1 2020: 11.8 kt) as the Nikolayevsky concentrator operated at full capacity following planned idling in January
  • H1 2020 gold production² of 25.8 koz (H1 2019: 26.4 koz) with higher output in Q2 of 13.3 koz (Q1 2020: 12.5 koz) also benefiting from the increased processing at Nikolayevsky
  • Zinc in concentrate output of 23.8 kt (H1 2019: 18.4 kt), due to higher grades of 2.62% (H1 2019: 2.11%)
  • Full year guidance maintained for all metals
• Covid-19 update
  • Ensuring the safety, health and wellbeing of employees and contractors is the Group’s first priority and comprehensive measures have been taken to protect staff
  • There has been no material disruption to operations or sales from Covid-19 to date. However, Kazakhstan imposed a second phase of quarantine measures from 5 July 2020 reflecting heightened risk in the country and to the Group’s operations for the second half of the year
  • Ongoing restrictions on the movement of staff and contractors and deferred maintenance may impact production and unit costs in the second half

• Payable metal in concentrate and copper cathode from Aktogay oxide ore.
• Payable metal in concentrate.
• See appendix for metal production by asset.

Andrew Southam, Chief Executive Officer, said: “In the second quarter of 2020 KAZ Minerals grew copper production across all of its divisions and delivered a 5% increase in Group output. This is an excellent performance in a challenging operating environment and reflects the dedication and resilience of our employees. We are entering the second half of the year with an elevated level of Covid-19 risk, however production of all metals is currently on track to achieve our full year targets.”

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