/REPEAT/ HALYK FINANCE ANNOUNCES START OF COLLECTION OF ORDERS FOR PARTICIPATION IN OFFERING EUROBONDS OF NATIONAL COMPANY KAZMUNAYGAZ

/REPEAT/ HALYK FINANCE ANNOUNCES START OF COLLECTION OF ORDERS FOR PARTICIPATION IN OFFERING EUROBONDS OF NATIONAL COMPANY KAZMUNAYGAZ /KASE, April 17, 2017/ – Subsidiary organization of Halyk Bank of Kazakhstan Halyk Finance (Almaty, in the heading and hereinafter – Halyk Finance), a member of Kazakhstan Stock Exchange (KASE), today provided KASE with the following notice: quote Hereby, Halyk Finance announces the startof collection of orders from members of Kazakhstan Stock Exchange (KASE) for participating in the initial offering of Eurobonds of the National Company KazMunayGaz (the Issuer) being issued under laws of a foreign country (hereinafter – Eurobonds). All orders from investors are accepted through the trading system "Subscription" on KASE. Acceptance of orders from prospective investors through the trading system "Subscription" will start simultaneously with the offering of the Eurobonds on the territory of the foreign country, and on the same terms of Eurobonds pricing, as during their offering on the territory of the foreign country, taking into account possible specifics inherent to the relevant securities markets. Joint managers and Joint Book-runners: Halyk Finance, Citi (B&D), J.P. Morgan, MUFG and UBS Investment Bank. BONDS' PARAMETERS: ------------------------------------------------ Issuer name: National Company KazMunayGaz Issuer's Ratings: Moody’s: Baa3 / S&P: BB- / Fitch: BBB- Expected issue ratings: Moody’s: Baa3 / Fitch: BBB- Bonds' short description: global bonds of senior, unsecured debt issued according to the English law and offered in accordance with Rule 144А and Regulation S of the US Securities Act Face value of one security USD200,000 (two hundred thousand) or the higher face value dividable by USD1,000 Listing: Kazakhstan Stock Exchange (KASE) and London Stock Exchange Volume of issues: at least USD 500 mln for each tranche 1st tranche repayment date: April 24, 2025 2nd tranche repayment date: April 24, 2030 3rd tranche repayment date: October 24, 2048 Indicative yield at offering of the 1st tranche: Determined upon results of collection of investors orders. The indicative yield to maturity benchmark is in the range of. 4.875% APR. Indicative yield at offering of the 2nd tranche: Determined upon results of collection of investors orders. The indicative yield to maturity benchmark is in the range of. 5.50% APR Indicative yield at offering of the 3rd tranche: Determined upon results of collection of investors orders. The indicative yield to maturity benchmark is in the range of 6.60% APR. Intended purpose: Partial financing of the tender on the buyout and consent to redeem bonds with maturity in 2020, 2021, 2025 and 2043 (jointly "Bonds") and redemption of Bonds remaining after approval of Obligatory Early Redemption of Bonds and financing of general corporate purposes (if there are any remaining funds) Order price: The order price is represented by the yield to maturity expressed in annual percentage. In case of market orders "the market yield" is indicated as the price Stabilisation according to FCA/ICMA. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- PROCEDURE FOR OFFERING OF EUROBONDS IN KAZAKHSTAN: ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Order collection day: April 17, 2018 Order collection start time: 14:00 (Almaty time) Indicative end time for order collection: 17:00 (Almaty time) Expected date of price April 17, 2018 (London time) and executed investor orders amount fixing: Settlement date: April 24, 2018 (Т+5) Executed orders fixing date: April 17 (London time) ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Tender participants: Please indicate your Allocation Identifier Code when submitting your order Terms of settlement of Eurobonds: Submitting a purchase order, the buyer thus confirms the availability of funds in payment of Eurobonds he buys in an operational brokerage account at Halyk Finance or the availability of operational trade facilities involving one of the counterparts below: - Citigroup Global Markets Limited - J.P. Morgan Securities plc - MUFG Securities EMEA plc - UBS AG, London Branch and undertakes to make settlements when the buyer’s order is executed. In case of execution of a submitted purchase order, the responsibility for execution (settlement) rests with the trade participant who submitted the purchase order. With queries, as well as for additional information, please contact the following representative of Halyk Finance: Farkhad Okhonov, tel. +7 (727) 357-31-69, e-mail: F.Okhonov@halykfinance.kz Zhuldyz Zharkenova, tel. +7 (727) 357-31-77 (ext. 3327), e-mail: Zh.Zharkenova@halykfinance.kz Nursultan Alibaev, tel. +7 (727) 357-31-77 (ext. 3326), e-mail: N.Alibayev@halykfinance.kz Halyk Finance, Citi (B&D), J.P. Morgan, MUFG and UBS Investment Bank act as Joint Bookrunners. NOT FOR DISTRIBUTION IN THE UNITED STATES (EXCEPT FOR QUALIFIED INSTITUTIONAL BUYERS AS DEFINED UNDER RULE 144A OF THE US SECURITIES ACT OF 1933 WITH ADDITIONS AND MODIFICATIONS, WHICH ARE ALSO QUALIFIED BUYERS IN ACCORDANCE WITH SECTION 2 (A) (51) OF THE US INVESTMENT COMPANIES ACT OF 1940 WITH AMENDMENTS AND MODIFICATIONS), CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION WHERE SUCH ACTION IS ILLEGAL. Target market of the provider (in accordance with Products Management Directive MIFID II) are exceptionally qualified counterparties and professional clients (all distribution channels). No key information document (KID) for retail and insurance structured investment products (PRIIPS) was prepared, because this product is not available for the retail segment in the European Economic Area (EEA). Product Management of MIFID II/only professional investors and qualified counterparties (ECP) - Solely for the purpose of conducting the approval process for each vendor product, evaluation of the target investor group for Bonds led to the conclusion that: (i) the target investor group for Bonds are only qualified counterparties and professional clients as defined in respect of each in Directive 2014/65/EU (including all supplements and amendments, hereinafter referred to as MIFID II); and (ii) all sales channels of Bonds to qualified counterparties and professional clients are relevant. Any person who subsequently offers, sells or recommends Bonds (‘Distributor’), should take into account an assessment of the target group of investors. However, a distributor that is the subject of the MIFID II, is responsible for conducting their own assessment of the target group of investors for Bonds (through the adoption or modification of the assessment of the target investor group by suppliers) and for determining relevant sales channels. The securities referenced in this message, may not be offered for sale or sold in the United States unless the securities have not been registered or exempted from registration in accordance with the US Securities Act of 1933, including all supplements and amendments (hereinafter (US Securities Act). NC KazMunayGas JSC does not intend to register any securities on the territory of the United States or to conduct public offering of securities in the United States. These securities will be offered in the United States only to qualified institutional buyers in accordance with Rule 144 and US Securities Act, which are also qualified buyers in accordance with section 2 (a) (51) of the US Investment Companies Act of 1940 with additions and changes, and will be offered outside the United States pursuant to Regulation S of the US Securities Act. This announcement is published in accordance with Rule 135C of the US Securities Act. This statement is not a public offer of securities in the United Kingdom. This statement applies and is intended only for (i) persons outside the United Kingdom, (ii) persons who have professional experience in matters relating to investment as defined in Article 19 (5) of the Financial Services and Markets Act of 2000 (Financial assistance) Order of 2005 (hereinafter referred to as the Order) and (iii) persons with large equity or other persons who may be provided this statement legally as defined in subparagraphs (a) to (d) of Article 49 (2) of the Order (all such persons hereinafter collectively referred to as "Relevant Persons"). Any investment activity to which this statement relates will only be available to Relevant Persons and will be carried out only with Relevant Persons. Those persons, who are not Relevant Persons, shall not carry out any action in connection with this statement or its contents or rely on this statement or its contents. unquote [2018-04-17] Tender participants: Please indicate your Allocation Identifier Code when submitting your order Terms of settlement of Eurobonds: Submitting a purchase order, the buyer thus confirms the availability of funds in payment of Eurobonds he buys in an operational brokerage account at Halyk Finance or the availability of operational trade facilities involving one of the counterparts below: - Citigroup Global Markets Limited - J.P. Morgan Securities plc - MUFG Securities EMEA plc - UBS AG, London Branch and undertakes to make settlements when the buyer’s order is executed. In case of execution of a submitted purchase order, the responsibility for execution (settlement) rests with the trade participant who submitted the purchase order. With queries, as well as for additional information, please contact the following representative of Halyk Finance: Farkhad Okhonov, tel. +7 (727) 357-31-69, e-mail: F.Okhonov@halykfinance.kz Zhuldyz Zharkenova, tel. +7 (727) 357-31-77 (ext. 3327), e-mail: Zh.Zharkenova@halykfinance.kz Nursultan Alibaev, tel. +7 (727) 357-31-77 (ext. 3326), e-mail: N.Alibayev@halykfinance.kz Halyk Finance, Citi (B&D), J.P. Morgan, MUFG and UBS Investment Bank act as Joint Bookrunners. NOT FOR DISTRIBUTION IN THE UNITED STATES (EXCEPT FOR QUALIFIED INSTITUTIONAL BUYERS AS DEFINED UNDER RULE 144A OF THE US SECURITIES ACT OF 1933 WITH ADDITIONS AND MODIFICATIONS, WHICH ARE ALSO QUALIFIED BUYERS IN ACCORDANCE WITH SECTION 2 (A) (51) OF THE US INVESTMENT COMPANIES ACT OF 1940 WITH AMENDMENTS AND MODIFICATIONS), CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION WHERE SUCH ACTION IS ILLEGAL. Target market of the provider (in accordance with Products Management Directive MIFID II) are exceptionally qualified counterparties and professional clients (all distribution channels). No key information document (KID) for retail and insurance structured investment products (PRIIPS) was prepared, because this product is not available for the retail segment in the European Economic Area (EEA). Product Management of MIFID II/only professional investors and qualified counterparties (ECP) - Solely for the purpose of conducting the approval process for each vendor product, evaluation of the target investor group for Bonds led to the conclusion that: (i) the target investor group for Bonds are only qualified counterparties and professional clients as defined in respect of each in Directive 2014/65/EU (including all supplements and amendments, hereinafter referred to as MIFID II); and (ii) all sales channels of Bonds to qualified counterparties and professional clients are relevant. Any person who subsequently offers, sells or recommends Bonds (‘Distributor’), should take into account an assessment of the target group of investors. However, a distributor that is the subject of the MIFID II, is responsible for conducting their own assessment of the target group of investors for Bonds (through the adoption or modification of the assessment of the target investor group by suppliers) and for determining relevant sales channels. The securities referenced in this message, may not be offered for sale or sold in the United States unless the securities have not been registered or exempted from registration in accordance with the US Securities Act of 1933, including all supplements and amendments (hereinafter (US Securities Act). NC KazMunayGas JSC does not intend to register any securities on the territory of the United States or to conduct public offering of securities in the United States. These securities will be offered in the United States only to qualified institutional buyers in accordance with Rule 144 and US Securities Act, which are also qualified buyers in accordance with section 2 (a) (51) of the US Investment Companies Act of 1940 with additions and changes, and will be offered outside the United States pursuant to Regulation S of the US Securities Act. This announcement is published in accordance with Rule 135C of the US Securities Act. This statement is not a public offer of securities in the United Kingdom. This statement applies and is intended only for (i) persons outside the United Kingdom, (ii) persons who have professional experience in matters relating to investment as defined in Article 19 (5) of the Financial Services and Markets Act of 2000 (Financial assistance) Order of 2005 (hereinafter referred to as the Order) and (iii) persons with large equity or other persons who may be provided this statement legally as defined in subparagraphs (a) to (d) of Article 49 (2) of the Order (all such persons hereinafter collectively referred to as "Relevant Persons"). Any investment activity to which this statement relates will only be available to Relevant Persons and will be carried out only with Relevant Persons. Those persons, who are not Relevant Persons, shall not carry out any action in connection with this statement or its contents or rely on this statement or its contents. unquote [2018-04-17]