Adjournment of Court Hearing

On 28 October 2020, the board of Nova Resources B.V. and the Independent Committee of KAZ Minerals PLC announced the terms of a recommended cash offer to be made by Bidco for the entire issued and to be issued share capital of KAZ Minerals (other than the KAZ Minerals Shares already owned or controlled by the Consortium), to be implemented by way of a scheme of arrangement.

On 29 October 2020, in accordance with the current practice of the Court in relation to schemes of arrangement as set out in a Practice Statement issued by the Court in June 2020, KAZ Minerals gave notice to Scheme Shareholders of a Court hearing seeking permission to convene the Court Meeting in connection with the Scheme, scheduled to be heard before a High Court Judge in the Companies Court, London on 23 November 2020.

Bidco and KAZ Minerals are continuing to work on the plan for settlement of consideration in Kazakhstan in accordance with the settlement rules of the Kazakhstan Stock Exchange. This plan needs to be finalised before the Scheme Document can be published.

As a result, KAZ Minerals has asked the Court to adjourn the hearing previously scheduled for 23 November 2020. A further announcement regarding the rescheduled date for this Court hearing will be made when appropriate.

Bidco and KAZ Minerals continue to expect that the Acquisition will become Effective in the first half of 2021, subject to the conditions set out in the announcement dated 28 October 2020.

Capitalised terms used in this announcement have the meaning given to them in the announcement dated 28 October 2020.

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