/KASE, March 27, 2025/ – Subsidiary organization 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 the following notice:

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THIS MESSAGE IS NOT INTENDED FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN THE UNITED STATES OF AMERICA (EXCEPT FOR QUALIFIED INSTITUTIONAL BUYERS (QIBs), WHO ARE ALSO QUALIFIED PURCHASERS (QPs), (AS DEFINED BELOW) OF CANADA, AUSTRALIA OR JAPAN

THIS MESSAGE IS NOT INTENDED FOR DISTRIBUTION AMONG AN UNDEFINED CIRCLE OF PERSONS AND IS ADDRESSED ONLY TO MEMBERS OF KAZAKHSTAN STOCK EXCHANGE JSC. THIS MESSAGE IS NOT AN ADVERTISING OF SECURITIES

Hereby Halyk Finance JSC announces the final yield to maturity and an extension of the period for collection of orders from members of Kazakhstan Stock Exchange JSC to participate in the initial offering of bonds of Development Bank of Kazakhstan JSC (Issuer), issued in accordance with the legislation of a foreign state (hereinafter – Eurobonds) until 21:45 Almaty time.

All orders from investors are accepted through the "Subscription" trading system on KASE. Ticker – BRKZe18.

Collection of orders from potential investors through the "Subscription" trading system on KASE begins simultaneously with the start of offering of Eurobonds on the territory of a foreign state, on the same terms for the Eurobonds offering (including the terms for determining their offering price) as when they are offered on the territory of a foreign state.

Joint Bookrunners: Citi, Halyk Finance, J.P. Morgan, Société Générale

Development Finance Structuring Agent: J.P. Morgan

BOND PARAMETERS:

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Issuer's name:                    Development Bank of Kazakhstan JSC                     
Expected issue ratings:           BBB- (S&P) / BBB (Fitch)                               
Issuer's ratings:                 Baa1 (stable) / BBB- (stable) / BBB                    
                                  (stable) from Moody's / S&P / Fitch                 
Brief description of Eurobonds:   Senior Unsecured Debt Eurobonds issued under           
                                  English law and offered in accordance with             
                                  Rule 144A and Regulation S                             
Maturity:                         5 years                                                
Security:                         unsecured                                              
Yield to maturity on Eurobonds:   determined based on the results of collecting          
                                  investor orders. The final yield to maturity           
                                  on Eurobonds is 5.70 % APR                             
Expected issue face value:        not less than 500 mln US dollars                       
Issue currency:                   US dollar                                              
Settlement currency:              All settlements on Eurobonds (incl.                    
                                  settlements during the initial offering,               
                                  coupon and principal payments are                      
                                  made in US dollars)                                    
Denomination:                     200,000 (two hundred thousand) US dollars or           
                                  a greater amount multiple of 1,000 (one                
                                  thousand) US dollars                                   
Applicable law:                   English law                                            
Listing:                          Kazakhstan Stock Exchange JSC and Vienna MTF           
Clearing settlements:             Euroclear / Clearstream / DTC                          
Purpose:                          General corporate purposes, including for financing    
                                  various investment, infrastructure and export projects,
                                  as well as for refinancing existing debt               
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PROCEDURE FOR OFFERING EUROBONDS FOR PURCHASE IN KAZAKHSTAN:                            
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Order collection day:             March 27, 2025                                         
Order collection start time:      14:15 Almaty time                                      
Order collection end time:        21:45 Almaty time                                      
Expected date for determining     March 27, 2025 (London time)                           
the price and volume of executed                                                         
investor orders:                                                                         
Expected settlement date:         April 7, 2025                                          
                                  Settlements at the initial offering                    
                                  are carried out in US dollars                          
Order price:                      The yield to maturity is indicated, expressed as a     
                                  percentage per annum (in the link field). The price    
                                  in the order is indicated as 100                       
                                  (for technical purposes only). In the                  
                                  case of submitting market orders,                      
                                  the price value is not indicated.                      
Order volume:                     Volumes of orders must be indicated in US dollars.     
                                  The minimum order volume is 200,000 (two hundred       
                                  thousand) US dollars or a greater amount multiple      
                                  of 1,000 (one thousand) US dollars                     
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Conditions for settlements of Eurobonds:

By submitting a purchase order, the trading participant confirms that he has a valid trading line for making settlements with the counterparty:

• J.P. Morgan Securities Plc;
• Citigroup Global Markets Limited;
• Societe Generale

and assumes responsibility for making settlements with one of the above- mentioned counterparties in the event that its order is executed.

If the submitted purchase order is executed, responsibility for execution (settlements) lies with the trading participant who submitted the purchase order.

Additionally, DBK has announced an invitation to holders of its outstanding 5.75% Eurobonds due 2025 (Reg S: XS2472852610 / 144A: US48129VAA44) to participate in a cash tender offer to repurchase the bonds for up to US$500 mln principal amount, of which US$325.1 mln remains outstanding. The early bird order collection deadline is set for April 7, 2025 pursuant to the tender offer dated March 25, 2025. Citi, Halyk Finance, J.P. Morgan and Societe Generale are acting as Joint Dealer Managers for the tender.

For all questions, as well as for additional information, please contact representatives of Halyk Finance JSC at the following contacts: +7 (727) 339-43-77/88 (ext. 3373, 3327, 3448, 3419), ib@halykfinance.kz.

THE MANUFACTURER'S TARGET MARKET (IN ACCORDANCE WITH UK MIFIR) ARE EXCLUSIVELY QUALIFIED COUNTERPARTS AND PROFESSIONAL CLIENTS (ALL DISTRIBUTION CHANNELS). NO KEY INFORMATION DOCUMENT HAS BEEN PREPARED FOR THE EUROPEAN ECONOMIC AREA AND THE UNITED KINGDOM FOR RETAIL AND INSURANCE STRUCTURED INVESTMENT PRODUCTS (PRIIPS) AS THE EUROBONDS ARE NOT AVAILABLE TO RETAIL SEGMENT IN THE EUROPEAN ECONOMIC AREA OR IN THE UNITED KINGDOM.

THIS MESSAGE DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DO SO. THE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR OTHER JURISDICTION, AND SECURITIES CANNOT BE OFFERED OR SOLD WITHIN THE TERRITORY OF THE UNITED STATES OR TO US PERSONS (AS DEFINED IN REGULATION S OF THE SECURITIES ACT), OR ON THEIR ACCOUNT OR FOR THEIR BENEFITS, EXCEPT AS PROVIDED BY AN EXEMPTION FROM THE REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE LAWS OF OTHER JURISDICTIONS, OR IN TRANSACTIONS NOT SUBJECT TO THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE LAWS OF OTHER JURISDICTIONS. THE SECURITIES WILL BE OFFERED FOR SALE IN THE UNITED STATES TO "QUALIFIED INSTITUTIONAL BUYERS" ("QIBs") ONLY, AS DEFINED IN AND PURSUANT TO RULE 144A OF THE SECURITIES ACT, WHICH ARE ALSO "QUALIFIED BUYERS (QP), AS DEFINED IN SECTION 2(A)(51) OF THE SECURITIES ACT. U.S. INVESTMENT COMPANY ACT OF 1940, AS AMENDED, AND WILL BE OFFERED FOR SALE ONLY OUTSIDE THE UNITED STATES TO NON-U.S. CITIZENS, PURSUANT TO REGULATION S OF THE U.S. SECURITIES ACT OF 1933 AS AMENDED.

THIS MESSAGE IS NOT AN OFFER FOR SALE OR ISSUANCE OF SECURITIES OR A SOLICITATION OF AN OFFER TO PURCHASE, NOR THE SECURITIES REFERRED HEREIN MAY BE SOLD IN ANY JURISDICTION IN WHICH SUCH OFFER OR SALE WOULD BE ILLEGAL PRIOR TO REGISTRATION, EXEMPTION FROM REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION. THE OFFERING AND DISTRIBUTION OF THIS MESSAGE AND OTHER INFORMATION REFERRED HEREIN MAY BE RESTRICTED BY LAW, AND TO PERSONS WHO TAKE POSSESSION OF THIS MESSAGE OR SUCH OTHER INFORMATION MUST GET ACQUAINTED WITH THE APPROPRIATE LIMITATIONS AND MUST COMPLY WITH SUCH LIMITATIONS. FAILURE TO COMPLY WITH THESE LIMITATIONS MAY CONSTITUTE A VIOLATION OF SECURITIES LAWS IN ANY SUCH JURISDICTION.

THIS MESSAGE IS SENT EXCLUSIVELY TO PERSONS WHO ARE (A) LOCATED OUTSIDE THE UK OR (B) LOCATED WITHIN THE UK AND (I) ARE PROFESSIONALS IN TERMS OF INVESTMENTS AS DEFINED IN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) OF THE ORDER 2005,AS AMENDED ("ORDER"), (II) COMPANIES WITH HIGH NET ASSETS VALUE AND OTHER PERSONS TO WHICH IT MAY BE LEGALLY DISCLOSED, SUBJECT TO ARTICLE 49(2)(A)- (D) OF THE ORDER OR (III) PERSONS WHO ARE INVITED OR INDUCED TO PARTICIPATE IN INVESTMENT ACTIVITIES (WITH THE PURPOSE OF ARTICLE 21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000) MAY BE OTHERWISE LAWFULLY INFORMED OR SOLICITED TO REPORT (ALL SUCH PERSONS IN PARAGRAPHS (I), (II) AND (III) ABOVE ARE "RELEVANT PERSONS"). PERSONS WHO ARE NOT RELEVANT PERSONS SHOULD NOT ACT OR RELY ON THIS MESSAGE. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS MESSAGE REFERS IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE CONDUCTED ONLY WITH RELEVANT PERSONS.

IN MEMBER STATES OF THE EUROPEAN ECONOMIC AREA, THIS ANNOUNCEMENT IS INTENDED ONLY FOR PERSONS WHO ARE "QUALIFIED INVESTORS" PURSUANT TO THE PROSPECTUS REGULATION (EU REGULATION 2017/1129). THIS ANNOUNCEMENT IS NOT AN ADVERTISING, NOR IS IT A SECURITIES PROSPECTUS FOR THE PURPOSE OF REGULATIONS.

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

A RATING DOES NOT CONSTITUTE A RECOMMENDATION TO BUY, SELL OR HOLD SECURITIES AND MAY BE REVIEWED, SUSPENDED OR WITHDRAWN AT ANY TIME BY THE ORGANIZATION ASSIGNING SUCH RATING. SIMILAR RATINGS FOR DIFFERENT TYPES OF ISSUERS AND DIFFERENT TYPES OF SECURITIES DO NOT NECESSARILY MEAN THE SAME THING. THE SIGNIFICANCE OF EACH RATING MUST BE ANALYZED INDEPENDENTLY OF ANY OTHER RATING.

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[2025-03-27]