KMG EP announces EGM

PRESS RELEASE

KMG EP announces extraordinary general meeting of shareholders

Astana, February 26, 2016. JSC KazMunaiGas Exploration Production ("KMG EP") announces an extraordinary general meeting of shareholders (EGM) to be held on 13 April 2016 with the following agenda:

1. The number of directors on the Board of Directors;

2. The term of the Board of Directors;

3. Election of directors to the Board of Directors;

4. Amount and term of compensation package for and reimbursement of directors on the Board of Directors for discharging their duties.

The materials for upcoming EGM will be available on KMG EP's website not later than 10 days before the meeting.

Notes to editors

KMG EP is among the top three Kazakh oil producers. The overall production in 2015 was 12.4 million tonnes (251 kbopd) of crude oil, including the Company's share in Kazgermunai, CCEL and PKI. The Company's volume of proved and probable reserves excluding shares in the associates, as at the end of 2015 was 152 million tonnes (1,115 mmbbl). The Company's shares are listed on the Kazakhstan Stock Exchange and the GDRs are listed on The London Stock Exchange. The Company raised over US$2bn in its IPO in September 2006.

For further details please contact us at:KMG EP. Investor Relations (+7 7172 97 5433)

Yerlan Kaldybayev

e-mail: ir@kmgep.kz

KMG EP. Public Relations (+7 7172 97 79 08)

Elena Pak

e-mail: pr@kmgep.kz

Brunswick Group (+44 207 404 5959)

Carole Cable

e-mail: KMGEP@brunswickgroup.com

Forward-looking statementsThis 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.