/KASE, July 1, 2025/ – National Company "KazMunayGas" JSC (KASE ticker – KMGZ) announces the following:

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on June 27, 2025, the international rating agency S&P Global Ratings upgraded KMG's credit rating from "BB+" to "BBB-", due to improved standalone creditworthiness and stable cash flows, with a "Stable" outlook.

KMG's standalone credit profile was raised from "bb" to "bb+" due to a significant reduction in debt, a balanced approach to dividend distribution, and returns on investments, which together confirm the Company's resilient business model. The "Stable" outlook reflects expectations of KMG's effective management of upcoming capital expenditures in line with its established financial policy, as well as its ability to withstand external shocks in the event of oil price volatility or other influencing factors.

As a result, the Company's credit rating has reached parity with the sovereign rating of Kazakhstan.

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[2025-07-01]