KAZ Minerals is a high growth copper company focused on large scale, low cost, open pit mining in Kazakhstan, Russia and Kyrgyzstan

DELIVERING VALUE AND VOLUME

We aim to deliver both value and volume growth and our assets are competitively positioned on the global cost curve. In October 2014 we completed a major restructuring of the Group which enabled us to focus on low cost, open pit copper mining. In 2020 we produced 306 kt of copper, representing a compound annual growth in production of c.30% between 2015 and 2020. The Group's major operations at Aktogay and Bozshakol have delivered industry leading production growth and transformed KAZ Minerals into a company dominated by world class, open pit copper mines. The Aktogay expansion project to double sulphide processing capacity at the mine was officially opened in October 2021, with first shipment to customers expected before the end of the year.

The Group acquired the Baimskaya copper project in the Chukotka region of Russia in January 2019, one of the world's most significant undeveloped copper assets, with the potential to become a large scale, low cost, open pit copper mine. The Bankable Feasibility Study for the Baimskaya copper project was completed in 2021 and the Group is now progressing with arranging financing for the greenfield development, which has an expected capital construction cost of of $8.5 billion. The Peschanka deposit within the Baimskaya licence area in Russia has JORC measured, indicated and inferred resources of 9.9 Mt of copper at an average grade of 0.39% of copper and 16.6 Moz of gold at an average grade of 0.21 g/t.