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Kazatomprom Announces Departure of CEO

1 July 2022
Kazatomprom Announces Departure of CEO

JSC National Atomic Company “Kazatomprom” (“Kazatomprom” or “the Company”), the world’s largest uranium producer, announces that Mr. Mazhit Sharipov will be departing from his roles as the Company’s Chief Executive Officer (“CEO”) and Chair of the Management Board, and will resign from Kazatomprom’s Board of Directors, for personal reasons effective 04 July 2022. Kazatomprom’s Chief Operating Officer, Mr. Yerzhan Mukanov, will be appointed as acting CEO while the Company’s Board of Directors completes a recruitment process to assess appropriate candidates for the CEO position.

“Mr. Sharipov, with his extensive experience in the nuclear industry, has shown strong leadership and persistent commitment to Kazatomprom’s value-focused strategy over his seven years with the Company,” said Neil Longfellow, Chair of Kazatomprom’s Board of Directors. “During this past year as Kazatomprom’s CEO, Mr. Sharipov’s nuclear fuel cycle expertise has been instrumental in the successful commissioning and launch of commercial production at the Ulba Fuel Assembly plant, Kazatomprom’s new facility to supply fuel assemblies to China. Under his leadership, ANU Energy, the region’s first physical uranium fund, was also launched at the Astana International Financial Center.

“Along with prioritizing employee safety and social stability across all of the Company’s operations, which was particularly vital during the tragic unrest in January this year, Mr. Sharipov effectively led the Company through its post-pandemic recovery and the ongoing geopolitical risks and uncertainties. The Board, along with the members of the Company’s management team, would like to sincerely thank him for his integrity and contributions to the Company’s development, and we wish him the absolute best in his next endeavors.

“Kazatomprom’s Independent Non-Executive Directors (INEDs) respect the personal decision of Mr. Sharipov and, together with majority shareholder Samruk-Kazyna, we will work to ensure the best candidate is selected for the role.”  

“It has been a great privilege for me to lead a Company that is so highly regarded in such a strategically important area as the nuclear industry," said Mr. Sharipov. “I am certain that nuclear has a great future, and that Kazatomprom will continue to thrive and generate value for the country and all stakeholders. On the eve of the 25th anniversary of Kazatomprom, I would like to express my gratitude to the thousands of employees within the organization for their hard work and dedication. I would also like to thank the management team with whom it has been an honour to work, along with the Board of Directors for their continual support.”

For further information, please contact:

Kazatomprom Investor Relations Inquiries

Cory Kos, International Adviser, Investor Relations

Botagoz Muldagaliyeva, Director of Investor Relations

Tel: +7 (8) 7172 45 81 80

Email: ir@kazatomprom.kz

Kazatomprom Public Relations and Media Inquiries

Gazhaiyp Kumisbek, Chief Expert of GR & PR Department

Tel: +7 (8) 7172 45 80 63

Email: pr@kazatomprom.kz

About Kazatomprom

Kazatomprom is the world's largest producer of uranium, with the Company’s attributable production representing approximately 24% of global primary uranium production in 2021. The Group benefits from the largest reserve base in the industry and operates, through its subsidiaries, JVs and Associates, 26 deposits grouped into 14 mining assets. All of the Company’s mining operations are located in Kazakhstan and extract uranium using ISR technology with a focus on maintaining industry-leading health, safety and environment standards.

Kazatomprom securities are listed on the London Stock Exchange, Astana International Exchange, and Kazakhstan Stock Exchange. As the national atomic company in the Republic of Kazakhstan, the Group's primary customers are operators of nuclear generation capacity, and the principal export markets for the Group's products are China, South and Eastern Asia, Europe and North America. The Group sells uranium and uranium products under long-term contracts, short-term contracts, as well as in the spot market, directly from its headquarters in Nur-Sultan, Kazakhstan, and through its Switzerland-based trading subsidiary, Trade House KazakAtom AG (THK).

For more information, please see the Company website at www.kazatomprom.kz

Forward-looking statements

All statements other than statements of historical fact included in this communication or document are forward-looking statements. Forward-looking statements give the Company’s current expectations and projections relating to its financial condition, results of operations, plans, objectives, future performance and business. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words and terms of similar meaning or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company’s control that could cause the Company’s actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which it will operate in the future. THE INFORMATION WITH RESPECT TO ANY PROJECTIONS PRESENTED HEREIN IS BASED ON A NUMBER OF ASSUMPTIONS ABOUT FUTURE EVENTS AND IS SUBJECT TO SIGNIFICANT ECONOMIC AND COMPETITIVE UNCERTAINTY AND OTHER CONTINGENCIES, NONE OF WHICH CAN BE PREDICTED WITH ANY CERTAINTY AND SOME OF WHICH ARE BEYOND THE CONTROL OF THE COMPANY. THERE CAN BE NO ASSURANCES THAT THE PROJECTIONS WILL BE REALISED, AND ACTUAL RESULTS MAY BE HIGHER OR LOWER THAN THOSE INDICATED. NONE OF THE COMPANY NOR ITS SHAREHOLDERS, DIRECTORS, OFFICERS, EMPLOYEES, ADVISORS OR AFFILIATES, OR ANY REPRESENTATIVES OR AFFILIATES OF THE FOREGOING, ASSUMES RESPONSIBILITY FOR THE ACCURACY OF THE PROJECTIONS PRESENTED HEREIN. The information contained in this communication or document, including but not limited to forward-looking statements, applies only as of the date hereof and is not intended to give any assurances as to future results. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to such information, including any financial data or forward-looking statements, and will not publicly release any revisions it may make to the Information that may result from any change in the Company’s expectations, any change in events, conditions or circumstances on which these forward-looking statements are based, or other events or circumstances arising after the date hereof.

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