Announcement regarding the proposed delisting

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION

Announcement regarding the proposed delisting of the Company's Global Depositary Receipts from the Official List of the Financial Conduct Authority of the United Kingdom and the cancellation of their admission to trading on the main market of the London Stock Exchange and from the Official List of and the cancellation of their admission to trading on the Astana International Exchange

Almaty, May 13, 2021

1. Introduction

Kcell Joint Stock Company ("Kcell" or the "Company") (LSE, KASE: KCEL; AIX: KCEL, KCEL.Y), the leading provider of mobile telecommunications services in Kazakhstan, on 12 April 2021 announced that at its extraordinary general meeting of 9 April 2021 ("EGM"), the shareholders of the Company approved the voluntary delisting of the Company's Global Depositary Receipts ("GDRs") from the Official List of the Financial Conduct Authority of the United Kingdom ("FCA") and the cancellation of their admission to trading on the main market of the London Stock Exchange ("LSE") and from the Official List of, and the cancellation of their admission to trading on, the Astana International Exchange ("AIX").

2. Notice of LSE delisting and AIX delisting

Pursuant to the resolutions duly passed at the EGM, the Company announces that on 13 May 2021 it submitted notices to the FCA to cancel the standard listing of the GDRs on the Official List of the FCA, and to the LSE to cancel the admission of the GDRs to trading on the main market of the LSE ("LSE Delisting"). In accordance with UK Listing Rule 5.2.8, the Company is required to give at least 20 business days' notice of its LSE Delisting, which is therefore expected to take effect at 8.00 a.m. (London time) on 14 June 2021.

On 13 May 2021, the Company also submitted an application to the AIX for the delisting of the GDRs from the Official List of, and the cancellation of their admission to trading on, the AIX, and further submitted a notice of the delisting application to the Astana Financial Services Authority ("AIX Delisting"). It is expected that the AIX Delisting take effect at 13:00 (Almaty time) on 14 June 2021.

Once such notice periods expire the GDRs will no longer be listed and traded on the LSE or the AIX.

The Company previously announced on 14 April 2021 that its GDR programme would terminate on 12 June 2021.

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Company Overview

Kcell provides mobile voice telecommunications services, messaging services, value-added services (VAS) such as multimedia and mobile content services, as well as data transmission services including internet access. It has two brands: the Kcell brand, which is targeted primarily at corporate subscribers (including government subscribers), and the Activ brand, which is targeted primarily at mass-market subscribers. The Company offers its services through its extensive, high quality network, which covers substantially all of the territory of Kazakhstan.

The Company intends to continue to invest in the deployment of its 3G/4G network to expand coverage and to introduce high quality services. Kcell aims to maintain high standards of service in the market by offering its products and services at competitive prices, expanding its offering of products and services, maintaining the quality of its network and enhancing its brand value.

Forward-looking statements

This document includes statements that are, or may be deemed to be, ''forward-looking statements''. These forward- looking statements can be identified by the use of forward-looking terminology including, but not limited to, the terms ''believes'', ''estimates'', ''anticipates'', ''expects'', ''intends'', ''may'', ''target'', ''will'', or ''should'' or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. They include, but are not limited to, statements regarding the Company's intentions, beliefs and statements of current expectations concerning, amongst other things, the Company's results of operations, financial condition, liquidity, prospects, growth, potential acquisitions, strategies and as to the industries in which the Company operates. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances that may or may not occur. Forward-looking statements are not guarantees of future performance and the actual results of the Company's operations, financial condition and liquidity and the development of the country and the industries in which the Company operates may differ materially from those described in, or suggested by, the forward-looking statements contained in this document. The Company does not intend, and does not assume any obligation, to update or revise any forward-looking statements or industry information set out in this document, whether as a result of new information, future events or otherwise. The Company does not make any representation, warranty or prediction that the results anticipated by such forward-looking statements will be achieved.