KMG EP Annual Report for 2012

Astana, 30 April 2013. JSC KazMunaiGas Exploration Production has published today its Annual Report for 2012*. The report is posted on the Company's website at www.kmgep.kz.

Further, the Company provides below the extracts from its Annual Report in unedited full text as required in accordance with DTR 6.3.5 (1)

* Information presented in this annual report is as of April 18, 2013.

COMPANY OVERVIEW

Mission: KMG EP's mission is to maximize benefits for the shareholders of the Company, by producing hydrocarbons in an efficient and expedient way, creating long-term economic and social value for the regions in which we operate and providing the development of each employee to reach their potential.

Vision: KMG EP - a leading company in the field of hydrocarbon exploration and production in Kazakhstan, among the leaders of oil and gas business in the Caspian region, able to compete globally.

KazMunaiGas Exploration Production JSC ("Company" or "KMG EP") was formed in March 2004 through the merger of JSC Ozenmunaigas ("OMG") and JSC Embamunaigas ("EMG"). KMG EP is one of the top three leaders in terms of oil production in Kazakhstan. By consolidated production volumes KMG EP controls around 15% of Kazakhstan's total production and by consolidated proven reserves about 3%. The volume of proved and probable reserves including the Company's share in Kazgermunai, CCEL and PKI as of 2011 year end were about 285 million tonnes (2,083 million barrels).

Shares of the Company are listed on the Kazakhstan Stock Exchange (KASE) and global depositary receipts (GDRs) on the London Stock Exchange (LSE).

Compared to other companies, KMG EP has unique advantages, which include a relationship with the parent company the National Company KazMunaiGas ("NC KazMunaiGas" or "NC KMG"), through which KMG EP has prioritised access to oil and gas assets and the infrastructure in the territory of Kazakhstan.