As previously announced, the Baimskaya project is located in a Territory of Accelerated Social and Economic Development (“TASED”) and is therefore eligible for certain tax incentives to encourage investment. KAZ Minerals has today signed an agreement in a public ceremony with the Far East Development Corporation JSC, wholly owned by the Ministry for the Development of the Russian Far East and Arctic, which confirms TASED residency for the Baimskaya project. Securing the TASED status is consistent with the Group’s assumptions when acquiring Baimskaya in January 2019 and with the project parameters update provided in November 2020.

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