Q3 2019 Production Report

KAZ MINERALS GROUP Production Report for NINE months and THE THIRD QUARTER Ended 30 sEPTEMBER 2019

DOWNLOAD PRESENTATION

Operational highlights

• Record quarterly copper production¹ of 82.9 kt (Q2 2019: 77.6 kt) and gold production² of 58.5 koz (Q2 2019: 44.3 koz), driven by strong performance from Aktogay and Bozshakol
• Copper production¹ on track for full year guidance of c.300 kt and gold production² now forecast to exceed the top end of guidance of 170-185 koz by around 5%

Aktogay

• Copper production¹ in Q3 of 37.3 kt, in line with previous quarter (Q2 2019: 37.4 kt), as high sulphide copper grade and throughput levels maintained
• Full year copper production¹ expected to be at upper end of guidance range of 130-140 kt

Bozshakol

• Copper production² increased by 38% to 32.1 kt (Q2 2019: 23.3 kt) and gold production² rose by 47% to 43 koz (Q2 2019: 30 koz), a record quarter for Bozshakol
• Ore processed increased by 30% to 8,378 kt (Q2 2019: 6,438 kt) as both plants operated without major scheduled maintenance and average copper and gold grades increased, as planned
• Bozshakol expected to achieve full year copper production² guidance of 105-115 kt and the upper end of gold production² guidance of 130-140 koz

East Region and Bozymchak

• Copper production² of 13.5 kt (Q2 2019: 16.9 kt), due to lower processing volumes and grades in the period, on track to achieve full year copper production² guidance of c.55 kt
• Gold production² of 14 koz (Q2 2019: 14 koz), now forecast to exceed full year guidance of 40-45 koz

¹ Payable metal in concentrate and copper cathode from Aktogay oxide ore.

²Payable metal in concentrate.

³See appendix for metal production by asset.

Andrew Southam, Chief Executive Officer, said: “I am pleased to report a record quarter from our large scale, low cost open pit mines, delivering 83 kt of copper and 59 koz of gold. Following output growth of 6% in the first nine months, the Group is well positioned to deliver full year copper production in line with guidance of around 300 kt, whilst gold production is now forecast to exceed guidance of 170-185 koz. The Group’s operating assets provide a strong platform to support our growth pipeline.”

For further information please contact:

REGISTERED OFFICE

6th Floor, Cardinal Place, 100 Victoria Street, London SW1E 5JL, United Kingdom.

PLEASE FOLLOW THE LINK TO DOWNLOAD THE FULL ANNOUNCEMENT