/KASE, March 25, 2025/ – Subsidiary of Halyk Bank of Kazakhstan "Halyk Finance" JSC (in the heading – Halyk Finance JSC), as a joint bookrunner, has provided Kazakhstan Stock Exchange (KASE) with a notification of the following content:

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THIS ANNOUNCEMENT IS NOT INTENDED FOR ISSUE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR THROUGH INTERMEDIARIES, IN WHOLE OR IN PART, IN THE UNITED STATES OF AMERICA (EXCEPT QUALIFIED INSTITUTIONAL BUYERS (QIBs), WHO ARE ALSO QUALIFIED PURCHASERS (QPs) (ACCORDING TO THE FOLLOWING DEFINITION), AS WELL AS IN THE TERRITORY OF CANADA, AUSTRALIA OR JAPAN

THIS ANNOUNCEMENT IS NOT INTENDED FOR DISTRIBUTION TO THE PUBLIC AND IS NOT AN ADVERTISEMENT OF SECURITIES

Development Bank of Kazakhstan JSC (DBK), the wholly-owned national development institution of the Republic of Kazakhstan, rated Baa1 by Moody's, BBB by Fitch and BBB- by S&P, all with a stable outlook, has appointed Citi, Halyk Finance, J.P. Morgan and Societe Generale to act as Joint Bookrunners and to arrange a conference call with global investors at 14:00 London time on March 25, 2025 and a conference call with Kazakhstan's investors at 12:00 Astana time on March 26, 2025, as well as a series of individual conference calls/meetings with investors commencing on March 25, 2025.

Thereafter, depending on market conditions, there will be an offering of 5-year senior unsecured Eurobonds denominated in U.S. dollars and 3-year senior unsecured Eurobonds denominated in tenge pursuant to Regulation S and Rule 144A (Reg S/144A). J.P. Morgan acted as the Structuring Agent for development financing.

Additionally, DBK announces an invitation to holders of its outstanding Eurobonds with a coupon rate of 5.75% due 2025 (Reg S: XS2472852610 / 144A: US48129VAA44) to participate in a tender to repurchase the bonds for cash in the amount of principal debt of up to US$500 million, of which US$325.1 million remains outstanding. The early tender deadline is set for April 7, 2025, in accordance with the purchase offer dated March 25, 2025. Citi, Halyk Finance, J.P. Morgan and Societe Generale are acting as Joint Dealer Managers for the tender. FCA/ICMA stabilisation applies.

Halyk Finance JSC, acting as a Joint Bookrunner, announces a conference call for potential investors from Kazakhstan to be held on March 26, 2025 at 12:00 Astana time.

For all questions, as well as to register for the conference call for investors from Kazakhstan, please contact representatives of Halyk Finance JSC at the following contacts: +7 (727) 339-43-77/88 (ext. 3373, 3327, 3356), ib@halykfinance.kz.

A link to the conference call will be sent to registered participants by email.

THE MANUFACTURER'S TARGET MARKET (IN ACCORDANCE WITH UK MIFIR) ARE EXCLUSIVELY QUALIFIED COUNTERAGENTS AND PROFESSIONAL CLIENTS (ALL DISTRIBUTION CHANNELS). NO KEY INFORMATION DOCUMENT IN THE EUROPEAN ECONOMIC AREA AND IN THE UNITED KINGDOM ON RETAIL AND INSURANCE STRUCTURED INVESTMENT PRODUCTS (PRIIPS) IS NOT PREPARED BECAUSE BONDS ARE NOT AVAILABLE FOR THE RETAIL SEGMENT IN THE EUROPEAN ECONOMIC ZONE OR IN THE UNITED KINGDOM.

THIS ANNOUNCEMENT IS NOT INTENDED FOR ISSUE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR THROUGH INTERMEDIARIES, IN WHOLE OR IN PART, IN THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN. THE MATERIALS DO NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES, AS WELL AS MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES WITHOUT REGISTRATION OR AN EXEMPTION FROM REGISTRATION, AS PROVIDED FOR BY THE U.S. SECURITIES ACT OF 1933, AS AMENDED, AND THE RULES AND REGULATIONS, AND RELEVANT PROVISIONS. THERE IS NO INTENTION TO REGISTER ANY PART OF THE OFFERING IN THE UNITED STATES OR TO CONDUCT A PUBLIC OFFERING OF THE SECURITIES IN THE UNITED STATES, AND THE SECURITIES WILL BE OFFERED FOR SALE IN THE UNITED STATES ONLY TO "QUALIFIED INSTITUTIONAL BUYERS" (QIBs), AS DEFINED IN RULE 144A OF THE U.S. SECURITIES ACT OF 1933, AS AMENDED, WHICH ARE ALSO "QUALIFIED PURCHASERS" (QPs), AS DEFINED IN SECTION 2 (A) (51) OF THE INVESTMENT COMPANIES ACT OF 1940, AS AMENDED, AND WILL BE OFFERED FOR SALE OUTSIDE THE US ONLY TO NON-US CITIZENS, PURSUANT TO PROVISION S OF THE US SECURITIES ACT 1933, AS AMENDED.

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR ISSUE SECURITIES OR A SOLICITATION TO BUY, AND THE SECURITIES REFERRED TO HEREIN MAY NOT BE SOLD IN ANY JURISDICTION IN WHICH SUCH OFFER OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION, EXEMPTION FROM REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.

FOR A DESCRIPTION OF THESE AND CERTAIN OTHER RESTRICTIONS ON OFFERS, SALES AND TRANSFERS OF THE NOTES AND THE DISTRIBUTION OF THE BASE INFORMATION MEMORANDUM (INCLUDING ANY SUPPLEMENT THERETO) AND THE PRELIMINARY REDUCTION ISSUE INFORMATION MEMORANDUM, SEE THE "RESTRICTIONS ON TRANSFERS" AND "SUBSCRIPTION AND SALES" SECTIONS IN THE BASE INFORMATION MEMORANDUM.

THE OFFER AND DISTRIBUTION OF THIS ANNOUNCEMENT AND OTHER INFORMATION REFERRED TO HEREIN MAY BE RESTRICTED BY LAW AND PERSONS INTO POSSESSION OF THIS ANNOUNCEMENT OR SUCH OTHER INFORMATION SHOULD INFORM THEMSELVES OF ANY APPLICABLE RESTRICTIONS AND SHOULD OBSERVE ALL SUCH RESTRICTIONS.

FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF SECURITIES LAWS IN ANY SUCH JURISDICTION.

THIS ANNOUNCEMENT IS GOING ONLY TO PERSONS WHO ARE (A) OUTSIDE THE UK OR (B) ARE IN THE TERRITORY OF THE UK AND (I) HAVE A PROFESSIONAL IN ISSUES REGARDING INVESTMENTS, SUBJECT TO ARTICLE 19 (5) OF THE ORDER (PROMOTION OF FINANCIAL SERVICES) 2005 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 ("ORDER"), EITHER (II) SUBJECT TO ARTICLE 49(2)(A)-(D) OF THE ORDER (PERSONS WITH LARGE EQUITY AND OTHER PERSONS TO WHICH IT IS LEGALLY PERMITTED TO TRANSFER THIS ANNOUNCEMENT), EITHER (III) ARE PERSONS TO WHICH THIS ANNOUNCEMENT MAY BE DIRECTED WITHOUT VIOLATION OF SECTION 21 OF THE ACT (ALL SUCH PERSONS LISTED IN PARTS (I), (II) AND (III) ABOVE ARE REFERRED TO AS "RELEVANT PERSONS"). THIS ANNOUNCEMENT SHOULD NOT APPLY TO PERSONS WHO ARE NOT THE RELEVANT PERSONS, OR BE SENT TO PERSONS WHICH ARE NOT THE RELEVANT PERSONS. ANY INVESTMENT OR INVESTMENT ACTIVITIES TO WHICH THIS ANNOUNCEMENT RELATES, WILL BE AVAILABLE EXCLUSIVELY TO THE RELEVANT PERSONS AND WILL ONLY BE CARRIED OUT WITH THE RELEVANT PERSONS.

IN THE MEMBER STATES OF THE EUROPEAN ECONOMIC AREA, THIS ANNOUNCEMENT IS INTENDED ONLY FOR PERSONS WHO ARE "QUALIFIED INVESTORS" IN ACCORDANCE WITH THE REGULATION ON PROSPECTUSES (EU REGULATION 2017/1129). THIS ANNOUNCEMENT IS NOT AN ADVERTISEMENT AND NOT A PROSPECTUS FOR PURPOSES OF REGULATION.

PRODUCT CLASSIFICATION OF THE SINGAPORE SFA: THE ISSUER HAS DETERMINED AND HEREBY NOTIFIES ALL RELEVANT PERSONS (AS DEFINED IN SECTION 309A(1) SFA) THAT THE SECURITIES MENTIONED HEREIN ARE "PRESCRIBED PRODUCTS OF CAPITAL MARKETS" (AS DEFINED IN SINGAPORE SECURITIES AND FUTURES (CAPITAL MARKETS PRODUCTS) REGULATIONS 2018) AND EXCLUDED INVESTMENT PRODUCTS (AS DEFINED IN MONETARY AUTHORITY OF SINGAPORE NOTICE SFA 04-N12: INVESTMENT PRODUCTS SALE NOTICE AND MAS NOTICE FAA-N16: INVESTMENT PRODUCTS RECOMMENDATIONS NOTICE).

THE RATING DOES NOT PROVIDE A RECOMMENDATION TO BUY, SELL OR HOLD SECURITIES AND MAY BE REVISED, SUSPENDED OR WITHDRAWN AT ANY TIME BY THE ORGANIZATION THAT ISSUED SUCH RATING. SIMILAR RATINGS FOR DIFFERENT ISSUERS AND DIFFERENT TYPES OF SECURITIES DO NOT NECESSARILY MEAN THE SAME. THE IMPORTANCE OF EACH RATING MUST BE ANALYZED REGARDLESS OF ANY OTHER RATING.

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[2025-03-25]