KAZ MINERALS GROUP PRODUCTION AND SALES REPORT FOR THE FIRST QUARTER ENDED 31 MARCH 2025

^1. Payable metal in concentrate and copper cathode from Aktogay oxide ore
^2. Payable metal in concentrate
^3. Payable metal in concentrate, toll processed metal and copper cathode from Aktogay oxide ore
^4. Payable metal in concentrate and toll processed metal

Highlights

• KAZ Minerals processed 24.8 Mt of ore in Q1 2025, representing the Group’s highest ever quarterly throughput and the result of operational improvements.
• The focus on throughput enabled the Group to deliver copper output of 90.4 kt in the quarter (Q4 2024: 92.9 kt), partially offsetting the impact of an expected reduction in grades processed.
• By-product output decreased compared with the previous quarter as mining took place in areas with lower polymetallic content.
• Copper sales of 80.3 kt were 11% below the production of 90.4 kt primarily due to a build-up of copper cathode in transit to customers.

Andrew Southam, Chief Executive Officer, said: “KAZ Minerals remains focused on optimising its operational performance. The excellent productivity of the concentrators at Aktogay and Bozshakol continued in the first quarter of 2025, with the Group achieving its highest ever quarterly throughput and recording 90 kt of copper output.”

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REGISTERED OFFICE

Unit No: 3402, Platinum Tower, Plot No: JLT-PH1-I2, Jumeirah Lakes Towers, Dubai, United Arab Emirates

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KAZ MINERALS PRODUCTION AND SALES REPORT FOR TWELVE MONTHS AND THE FOURTH QUARTER ENDED 31 DECEMBER 2024

^1. Payable metal in concentrate and copper cathode from Aktogay oxide ore
^2. Payable metal in concentrate
^3. Payable metal in concentrate, toll processed metal and copper cathode from Aktogay oxide ore
^4. Payable metal in concentrate and toll processed metal

Highlights

• KAZ Minerals processed 96.5 Mt of ore in 2024, a 6% year-on-year increase and a record for the Group.
• Copper production for the year was 380 kt (2023: 403 kt) as the increase in ore throughput was offset by an expected reduction in grades processed, as the ore bodies mature.
• Production of gold, silver and zinc in 2024 reduced compared with the prior year as mining took place in areas with lower polymetallic content.
• Copper sales of 387 kt were 2% higher than production, benefiting from the sale of material held in transit at the beginning of the year.

Andrew Southam, Chief Executive Officer, said: “In 2024, KAZ Minerals set a new milestone by processing 96.5 Mt of ore, a record for the Group and a 6% increase versus 2023. The concentrators at Aktogay and Bozshakol continued to perform above design capacity, highlighting the Group’s commitment to operational excellence.”

For further information please contact:

REGISTERED OFFICE

Unit No: 3402, Platinum Tower, Plot No: JLT-PH1-I2, Jumeirah Lakes Towers, Dubai, United Arab Emirates

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KAZ MINERALS PRODUCTION AND SALES REPORT FOR NINE MONTHS AND THE THIRD QUARTER ENDED 30 September 2024

^1. Payable metal in concentrate and copper cathode from Aktogay oxide ore
^2. Payable metal in concentrate
^3. Payable metal in concentrate, toll processed metal and copper cathode from Aktogay oxide ore
^4. Payable metal in concentrate and toll processed metal

Highlights

• KAZ Minerals processed 72 Mt of ore in the first nine months of 2024, a 5% increase compared with the prior year comparative period (9m 2023: 68 Mt) and a record for the Group.
• Copper production in the period decreased to 287 kt (9m 2023: 301 kt) as the increased ore throughput only partially mitigated the expected reduction in grades at both Aktogay and Bozshakol.
• Gold, silver and zinc in concentrate by-product output reduced versus the prior year comparative period as mining at the East Region and Bozymchak took place in areas with lower polymetallic content.
• Copper sales of 295 kt were 3% higher than production as the Group sold finished goods inventories which were in transit at the end of the previous year.

Andrew Southam, Chief Executive Officer, said: “KAZ Minerals’ continued focus on maximising ore throughput enabled the concentrators at Aktogay, Bozshakol and Bozymchak to exceed design capacity, achieving record processing volumes in the first nine months of 2024. This excellent operational performance enabled the Group to produce 287 kt of copper in the period.”

For further information please contact:

REGISTERED OFFICE

Unit No: 3402, Platinum Tower, Plot No: JLT-PH1-I2, Jumeirah Lakes Towers, Dubai, United Arab Emirates

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KAZ MINERALS PRODUCTION AND SALES REPORT FOR SIX MONTHS AND THE SECOND QUARTER ENDED 30 JUNE 2024

• Payable metal in concentrate and copper cathode from Aktogay oxide ore
• Payable metal in concentrate
• Payable metal in concentrate, toll processed metal and copper cathode from Aktogay oxide ore
• Payable metal in concentrate and toll processed metal

Highlights

• KAZ Minerals processed 47.5 Mt of ore in H1 2024, a record for the Group and a 7% increase on the prior year comparative period (H1 2023: 44.5 Mt), as management remains focused on enhancing operational performance.
• Copper production of 191 kt decreased by 4% (H1 2023: 200 kt) as an expected reduction in grades processed was partially offset by the enhanced throughput.
• Silver and zinc production in H1 2024 reduced by 5% and 6%, respectively, as mining operations at East Region and Bozymchak were from lower content sections. Gold production fell by 3% due to lower output at Bozymchak, where open pit operations have ceased and the new underground mine is ramping up.
• Copper sales of 203 kt were 6% above production, as shipment times improved and the Group delivered additional volumes.

Andrew Southam, Chief Executive Officer, said: “KAZ Minerals’ continued focus on operational excellence enabled the concentrators at Aktogay, Bozshakol and Bozymchak to operate above design capacity and process record ore volumes in the first half of 2024. The Group sold 203 kt of copper in the period, as shipment times improved.”

For further information please contact:

REGISTERED OFFICE

Unit No: 3402, Platinum Tower, Plot No: JLT-PH1-I2, Jumeirah Lakes Towers, Dubai, United Arab Emirates

PLEASE FOLLOW THE LINK TO DOWNLOAD THE FULL ANNOUNCEMENT

KAZ MINERALS GROUP PRODUCTION AND SALES REPORT FOR THE FIRST QUARTER ENDED 31 MARCH 2024

^1. Payable metal in concentrate and copper cathode from Aktogay oxide ore
^2. Payable metal in concentrate
^3. Payable metal in concentrate, toll processed metal and copper cathode from Aktogay oxide ore
^4. Payable metal in concentrate and toll processed metal

Highlights

• Copper production of 94 kt in Q1 2024 decreased by 8% (Q4 2023: 102 kt) due to an expected decline in grades, partially offset by a 2% increase in quarterly ore throughput as management continued to focus on maximising operational performance.
• Copper sales of 103 kt were 9% above production as reduced sales shipment times resulted in a lower volume of materials in transit.
• The improved shipment times also enabled the Group to deliver an increase in the sale of all by-products compared with the previous quarter, despite the decrease in production.

Andrew Southam, Chief Executive Officer, said: “In the first quarter of 2024, KAZ Minerals continued to focus on maximising ore throughput, which increased by 2% and allowed the Group to deliver copper production of 94 kt. The Group’s strong operating performance means that it is well positioned to benefit from recent increases in copper prices.”

For further information please contact:

REGISTERED OFFICE

7^th Floor, 83 Victoria Street, London SW1H 0HW, United Kingdom.

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KAZ MINERALS PRODUCTION AND SALES REPORT FOR TWELVE MONTHS AND THE FOURTH QUARTER ENDED 31 December 2023

^1. Payable metal in concentrate and copper cathode from Aktogay oxide ore
^2. Payable metal in concentrate
^3. Payable metal in concentrate, toll processed metal and copper cathode from Aktogay oxide ore
^4. Payable metal in concentrate and toll processed metal

Highlights

• KAZ Minerals achieved full year copper production of 403 kt in 2023, an increase of 6% on the prior year (FY 2022: 380 kt) and the highest in its history, driven by increased output from Aktogay following the world class ramp-up of the second sulphide concentrator during 2022. Continued operational improvements at Bozshakol also enabled the site to increase its copper output, despite the expected decline in grade.
• Management’s focus on maximising throughput delivered excellent results, with all concentrators at Aktogay, Bozshakol and Bozymchak operating in excess of design capacity throughout the year.
• Zinc in concentrate output rose by 9% as the East Region benefited from higher grades and improved recovery rates. Silver production increased by 6% as the Group processed higher grades, while gold output fell by 5% primarily due to an expected reduction in grades processed at Bozymchak.
• Copper sales volumes of 445 kt were 10% higher than production as the Group fully sold its accumulated finished goods inventories. Sales volumes of all by-products were also above production. The Group has benefited from improved rail logistics compared with the prior year and continued strong demand for its products from customers.

Andrew Southam, Chief Executive Officer, said: “KAZ Minerals delivered record copper output of 403 kt in 2023, an increase of 6% on the prior year, driven by increased output from Aktogay following the world class ramp-up of the second sulphide concentrator in 2022. Management’s continued focus on operational excellence resulted in all concentrators processing ore volumes in excess of design capacity during the year. The Group’s sales also benefited from a significant reduction in finished goods inventory carried forward from 2022.”

For further information please contact:

REGISTERED OFFICE

7^th Floor, 83 Victoria Street, London SW1H 0HW, United Kingdom.

PLEASE FOLLOW THE LINK TO DOWNLOAD THE FULL ANNOUNCEMENT

KAZ MINERALS PRODUCTION AND SALES REPORT FOR nine MONTHS AND THE third QUARTER ENDED 30 September 2023

^1. Payable metal in concentrate and copper cathode from Aktogay oxide ore
^2. Payable metal in concentrate
^3. Payable metal in concentrate, toll processed metal and copper cathode from Aktogay oxide ore
^4. Payable metal in concentrate and toll processed metal

Highlights

• KAZ Minerals produced 301 kt of copper in the first nine months of 2023, an increase of 7% on the prior year comparative period, achieved due to the world-class ramp-up of the second concentrator at Aktogay.
• Zinc in concentrate output increased by 24% as extraction took place in higher metal content areas and raised recovery rates. Silver production rose by 11% as the Group processed higher grades while gold output fell by 7% due to an expected reduction in grades processed at Bozshakol and Bozymchak.
• The Group has now sold its accumulated finished goods inventories, built-up in 2022, with copper sales in the period to 30 September 2023 of 344 kt, 43 kt ahead of production. Sales volumes of all by-products were also ahead of production. The Group has benefited from improved rail logistics compared with the prior year and strong demand for its products from customers.

Andrew Southam, Chief Executive Officer, said: “KAZ Minerals delivered copper output of 301 kt in the first nine months of 2023, an increase of 7% on the prior year comparative period, benefiting from the world-class ramp-up of the second concentrator at Aktogay. In 2023, the Group has now cleared its stockpile of finished goods inventories, built-up in the prior year, with copper sales 43 kt ahead of production in 2023.”

For further information please contact:

REGISTERED OFFICE

7^th Floor, 83 Victoria Street, London SW1H 0HW, United Kingdom.

PLEASE FOLLOW THE LINK TO DOWNLOAD THE FULL ANNOUNCEMENT