KMG EP EGM Call

PRESS-RELEASE

KMG EP announces extraordinary general meeting of shareholders

Astana, 25 November 2014. JSC KazMunaiGas Exploration Production ("KMG EP" or "the Company") announces an extraordinary general meeting of shareholders (EGM) at the request of JSC NC KazMunayGas (NC KMG) to be held on 13 January 2015 with the following agenda:

1. Early termination of powers of the member and Chairman of the KMG EP Board of Directors Daniyar Berlibayev. He maintains his position of Deputy Chairman of the Management Board at NC KMG for Corporate Center;

2. Appointment of Christopher Hopkinson as a member of the KMG EP Board of Directors. Christopher Hopkinson holds the position of First Deputy Chairman of the Management Board at JSC NC "KazMunayGas". He was nominated by KMG EP's majority shareholder JSC NC "Kazmunaigas" and it is intended that he will become Chairman of KMG EP's Board of Directors.

The materials for upcoming EGM will be available starting from 2 December 2014 on KMG EP's web-site: http://www.kmgep.kz/eng/investor_relations/shareholder_meetings/.

Notes to editors

KMG EP is among the top three Kazakh oil and gas producers. The overall production in 2013 was 12.4 million tonnes (an average of 251 kbopd) of crude oil, including the Company's share in Kazgermunai, CCEL and PKI. The Company's total consolidated volume of proved and probable reserves including shares in the associates, as at the end of 2013 was 200 million tonnes (1.5 bn bbl), out of which 148.8 million tonnes (1.1 bn bbl) relates to Ozenmunaigas, Embamunaigas, and UOG (Rozhkovskoye field, Fyodorovskiy block). 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.

Christopher Hopkinson has extensive experience in the oil and gas industry, and currently holds the position of First Deputy Chairman of the Management Board at JSC NC "KazMunayGas". Prior to joining the KMG, he had been CEO at International Petroleum, CEO at Imperial Energy, and Senior Vice President North Africa at BG Group. Earlier in his career he worked in various positions at Shell. Christopher Hopkinson studied physics at the University of St. Andrews.

For further details please contact us at:

KMG EP. Investor Relations (+7 7172 97 5433)

Asel Kaliyeva

e-mail: [email protected]

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

Elena Pak

e-mail: [email protected]

Brunswick Group (+44 207 404 5959)

Andrew Mitchell

e-mail: [email protected]

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.