Publication of Final Terms

THE REPUBLIC OF KAZAKHSTAN

represented by the Ministry of Finance of the Republic of Kazakhstan

acting upon authorisation of the Government of the Republic of Kazakhstan

U.S.$15,000,000,000 Global Medium Term Note Programme

Publication of Final Terms

27 June 2025

The following final terms (the "Final Terms") are available for viewing:

Final Terms in relation to the Republic of Kazakhstan represented by the Ministry of Finance of the Republic of Kazakhstan acting upon authorisation of the Government of the Republic of Kazakhstan Issue of U.S.$1,350,000,000 5.000% Notes due 2032 (the "2032 Notes") under the Issuer's U.S.$15,000,000,000 Global Medium Term Note Programme

To view the full document, please paste the following URL into the address bar of your browser:

http://www.rns-pdf.londonstockexchange.com/rns/9957O_2-2025-6-30.pdf

Final Terms in relation to the Republic of Kazakhstan represented by the Ministry of Finance of the Republic of Kazakhstan acting upon authorisation of the Government of the Republic of Kazakhstan Issue of U.S.$1,150,000,000 5.500% Notes due 2037 (the "2037 Notes") under the Issuer's U.S.$15,000,000,000 Global Medium Term Note Programme

To view the full document, please paste the following URL into the address bar of your browser:

http://www.rns-pdf.londonstockexchange.com/rns/9957O_1-2025-6-30.pdf

For further information, please contact:

Madina Aitpysheva

Ministry of Finance of the Republic of Kazakhstan

Mangilik Yel Avenue 8

Entrance 4

Astana, 010000

Republic of Kazakhstan

E-mail: [email protected]

DISCLAIMER - INTENDED ADDRESSEES

Please note that the information contained in this announcement and the Final Terms may be addressed to and/or targeted at persons who are residents of particular countries (specified in the Final Terms) only and is not intended for use and should not be relied upon by any person outside these countries and/or to whom the offer contained in the Final Terms is not addressed. Prior to relying on the information contained in this announcement and the Final Terms you must ascertain from the the Final Terms whether or not you are part of the intended addressees of the information contained therein.

In particular, this announcement and the Final Terms do not constitute an offer to sell or the solicitation of an offer to buy securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities law of any such jurisdiction. The securities referred to in this announcement and the Final Terms have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act, and the rules and regulations thereunder. The Republic of Kazakhstan represented by the Ministry of Finance of the Republic of Kazakhstan acting upon authorisation of the Government of the Republic of Kazakhstan does not intend to register any of the securities referred to in this announcement and the Final Terms in the United States or to conduct a public offering of the securities referred to in this announcement and the Final Terms in the United States or elsewhere.

Your right to access this service is conditional upon complying with the above requirement.