/KASE, November 24, 2025/ – National Company "KazMunayGas" JSC (KASE ticker – KMGZ) reported the following:

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November 24, 2025

Joint Stock Company "National Company "KazMunayGas" (KMG or Company), Kazakhstan's national oil and gas company, published its interim condensed consolidated financial statements prepared in accordance with International Financial Reporting Standards (IFRS) 34 "Interim Financial Statements" for the three and nine months ended on 30 September 2025, with an independent auditor’s report on the results of the review of interim financial information.

Key financial indicators for the nine months of 2025* compared to the nine months of 2024:

• Revenue amounted to 7,058 bln tenge (USD 13,565 mln) compared to 6,349 bln tenge (USD 13,838 mln);
• EBITDA amounted to 1,800 bln tenge (USD 3,459 mln) compared to 1,611 bln tenge (USD 3,510 mln);
• The Company's net profit including share in profit of joint ventures and associates amounted to 978 bln tenge (USD 1,880 mln) compared to 867 bln tenge (USD 1,890 mln);
• Net profit adjusted for share in profit of joint ventures and associates** amounted to 1,181 bln tenge (USD 2,270 mln) compared to 1,018 bln tenge (USD 2,220 mln);
• Free cash flow amounted to 1,095 bln tenge (USD 2,104 mln) compared to 1,012 bln tenge (USD 2,207 mln);
• Gross debt as of 30 September 2025 amounted to 4,126 bln tenge (USD 7,515 mln) compared to 3,967 bln tenge (USD 7,555 mln) as of 31 December 2024;
• The Company's net debt as of 30 September 2025 was at 496 bln tenge (USD 904 mln) compared to 1,163 bln tenge (USD 2,214 mln) as of 31 December 2024.

* The amounts were converted to US dollars for user convenience at average exchange rates for respective periods (average USD/KZT for the nine months of 2025 and 2024 were at 520.29 and 458.79 respectively; period-end USD/KZT as of 30 September 2025 and 31 December 2024 were at 549.06 and 525.11 respectively.

** Net profit adjusted for share in profit of joint ventures and associates = Net profit plus dividends received from joint ventures and associates, minus share in profit of joint ventures and associates.

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[2025-11-24]