Halyk & Click Sign Strategic Partnership Agreement

Halyk Bank and Click Sign Agreement on Strategic Partnership

Almaty, Kazakhstan - 23 July 2025 - JSC Halyk Bank, Kazakhstan ("Halyk" or "the Bank"), is pleased to announce the signing of a strategic agreement with the shareholders of Click JSC, Uzbekistan ("Click"), to acquire 49% of shares in Click, and to sell 49% of shares in its wholly owned Uzbek subsidiary, Tenge Bank JSCB ("Tenge Bank"), to Click's shareholders.

Under the terms of the agreement, Halyk will pay 176.4 million US dollars for 49% of Click, while Click's shareholders will pay 60.76 million US dollars for 49% of Tenge Bank. The structure of the deal creates opportunities for the two sides to work in close partnership while retaining their current legal structures.

The completion of both transactions is subject to regulatory approvals in Kazakhstan and Uzbekistan.

This agreement marks a strategically significant step in uniting the strengths of two market leaders with highly complementary services and customer bases.

On one side - Halyk, Central Asia's largest financial group, has assets of more than 37.5 billion US dollars, with a diversified business model, and a robust digital ecosystem encompassing retail, SME and corporate banking, insurance, leasing, brokerage, asset management, and lifestyle services, with a market capitalization of 6.8 billion US dollars. The Bank maintains the highest credit ratings in the region - investment grade from all three major rating agencies (Moody's: Baa1, S&P: BBB-, Fitch: BBB-).

On the other side of the partnership is Click - Uzbekistan's leading payment services provider and a fintech leader with a customer base of over 20 million users and deep expertise in digital innovation. Click's platform offers a seamless experience for managing payments and transfers using both traditional Uzbek bank cards and its proprietary digital wallets, which now number around 10 million.

In successfully implementing a SuperApp strategy, Click has combined a broad range of proprietary and partner services - from traditional payments and insurance to delivery, auto service and charity giving, as well as online and offline shopping, loan repayment and various government services. Dozens of included mini-applications (MiniApps) satisfy a wide range of consumer requests daily.

Click's business partners include 70 thousand vendors who can offer their products to a wide audience without significant investments. This strategy enabled the company to achieve impressive results in 2024, with revenue growth of 35.3% and a 37.5% increase in net profit.

Through this partnership, Halyk and Click aim to strengthen their respective positions in Uzbekistan's digital ecosystem and its rapidly-evolving market for financial and fintech services. This strategic alliance will deliver enhanced solutions and services to large and medium-sized corporate clients, small and micro businesses, as well as retail clients, through a combination of scale, technological expertise, and innovation.

Halyk's total investments to Uzbekistan amounted to approximately USD 1.5 billion US dollars as of 1 July 2025, and these transactions represent the next major milestone in Halyk's investment strategy in the country.

Thanks to this strategic decision, with its established operations in both Kazakhstan and Uzbekistan, the Halyk Group will be able to reach a combined client base of over 32.1 million people, reinforcing its leadership across two markets with a total population of more than 58 million and over 2.6 million small businesses and individual entrepreneurs.

Halyk is a publicly listed company in Kazakhstan and has had a Global Depositary Receipt (GDR) listing on the London Stock Exchange since 2006. As of today, 28.3% of the Bank's shares are held by international institutional investors, including leading funds from the US, UK, Europe and Asia.

The partnership between Halyk Bank and Click will also support the visibility of Uzbekistan's private sector on global capital markets and contribute meaningfully to the development of Central Asia's global investment story.

Click and Tenge Bank will continue to operate as independent legal entities. Each of their customer bases will continue to be served on existing terms, and all the companies' current contracts and obligations remain in force and will be executed on time and in full.

- ENDS-

For further information, please contact:

Halyk Bank

Mira Tiyanak +7 727 259 04 30 [email protected]

Rustam Telish +7 727 330 15 66 [email protected]

Click

Montfort - [email protected]

Gayden Metcalfe +44 7919 882983

John Mann +1 813 825 6070

About Halyk Bank

Halyk Bank is Kazakhstan's leading financial group with operations across a diverse range of segments, including retail, SME and corporate banking, insurance, leasing, brokerage, asset management, and lifestyle services. The Bank has been listed on the Kazakhstan Stock Exchange (KASE) since 1998, the London Stock Exchange (LSE) since 2006, and the Astana International Exchange (AIX) since 2019.

As of 31 March 2025, the Bank's total assets stood at 18,855.9 billion tenge, making it the largest lender in Kazakhstan. Halyk serves one of the country's largest customer bases and has the most extensive branch network, comprising 542 branches and service outlets nationwide. The Bank also operates in Georgia and Uzbekistan. For more information about Halyk Bank, please visit https://www.halykbank.com

About Click

Click is Uzbekistan's leading fintech company, serving over 20 million individuals and holding more than 38% share of the mobile payments market. In 2024, Click evolved into a comprehensive SuperApp, integrating a wide array of proprietary and third-party services from payments and insurance to delivery, automotive services, and charitable giving. In 2024, the company's revenue grew by 35.3%, and net profit increased by 37.5%. Click processes over 2 million transactions daily, holds Payment Organisation Licence No. 1, and is PCI DSS 4.0 certified. It is a market leader in online payments across Humo and Uzcard, and continues to invest in AI, green energy solutions, and social responsibility initiatives such as Yashil Meros and Inson Uchun. For more information about Click, please visit https://www.click.uz

About Tenge Bank

Tenge Bank JSCB is a universal bank offering a broad range of financial services to large and medium-sized corporate clients, small and micro businesses, as well as retail clients, using cutting-edge banking technologies. It is currently a 100% subsidiary of JSC Halyk Bank. As of 31 March 2025, Tenge Bank's total loan portfolio under IFRS exceeded 4.5 trillion Uzbek som, and total assets under IFRS exceeded 7.7 trillion Uzbek som.

In 2024, Tenge Bank was the first in the country to launch digital onboarding and digital lending for entrepreneurs.

The bank has a credit rating from Moody's international rating agency on par with the sovereign rating of Uzbekistan - Ba3, the outlook is Stable.

In 2024, Tenge Bank was recognized as the Best bank in Uzbekistan by Global Finance, and also received the awards for Best Corporate Bank in Uzbekistan from Global Banking & Finance Awards, as well as Most Innovative Digital Lending Products for Individual Entrepreneurs and Best Foreign Bank from International Finance.