/KASE, May 29, 2026/ – National Company "KazMunayGas" JSC (KASE ticker – KMGZ) reported the following:

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Joint Stock Company "National Company "KazMunayGas" (KMG or Company), Kazakhstan's national oil and gas company, publishes its interim condensed consolidated financial statements prepared in accordance with International Financial Reporting Standards (IFRS) 34 "Interim Financial Statements" for the three months ended March 31, 2026, with an independent auditor’s report on the results of the review of interim financial information.

Key financial indicators for the first quarter of 2026* compared to the first quarter of 2025:

• Revenue amounted to 2,481 bln tenge (USD 4,991 mln) compared to 2,241 bln tenge (USD 4,394 mln);
• EBITDA amounted to 775 bln tenge (USD 1,559 mln) compared to 582 bln tenge (USD 1,142 mln);
• The Company's net profit including share in profit of joint ventures and associates amounted to 373 bln tenge (USD 751 mln) compared to 193 bln tenge (USD 377 mln);
• Net profit adjusted for share in profit of joint ventures and associates** amounted to 190 bln tenge (USD 381 mln) compared to 164 bln tenge (USD 321 mln);
• Free cash flow was negative at 78 bln tenge (USD 157 mln), compared to a positive free cash flow of 283 bln tenge (USD 555 mln);
• Gross debt as of March 31, 2026 amounted to 3,504 bln tenge (USD 7,320 mln) compared to 3,522 bln tenge (USD 6,967 mln) as of December 31, 2025;
• The Company's net debt as of March 31, 2026 was at 573 bln tenge (USD 1,196 mln) compared to 375 bln tenge (USD 742 mln) as of December 31, 2025.

* The amounts were converted to US dollars for convenience at average exchange rates for respective periods (average USD/KZT for the first quarter of 2026 and for the first quarter of 2025 were at 497.09 and 510.05 respectively;
period-end USD/KZT as of March 31, 2026 and December 31, 2025 were at 478.77 and 505.53 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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The full version of the press release in Kazakh – see more

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[2026-05-29]