Kazatomprom Announces Change in Board of Directors

6 December 2019
Kazatomprom Announces Change in Board of Directors

JSC National Atomic Company “Kazatomprom” (“Kazatomprom” or “the Company”) today announces the departure of Jon Dudas, independent board member since 2015 and Chairman of the Company’s Board of Directors (“Board”) since August of 2018. Mr. Dudas has been offered a position on the Board of Directors of the Samruk Kazyna Sovereign Wealth Fund, Kazatomprom’s majority shareholder. He accepted the position and is therefore stepping down from Kazatomprom’s Board as of 6 December 2019.

Kazatomprom’s Board and management would like to thank Mr. Dudas for his dedication, leadership and positive contribution over the past four years. The Company would also like to congratulate Mr. Dudas and wish him continued success in applying his expertise to generate stakeholder value, which in his new role at Samruk Kazyna, will be to the benefit of Kazakhstan as a whole.

“I’ve had the good fortune of witnessing and contributing to a significant corporate success story in my time with Kazatomprom,” said Mr. Dudas. “I’m proud of the Company’s accomplishments and impressed by the commitment and dedication of my fellow board members, the management team, and Kazatomprom’s employees. As a nuclear industry leader that has weathered difficult market conditions, the focus on sustainable value has always been accompanied by an unwavering emphasis on strong health, safety and environmental programs, and transparent corporate governance – all crucial components of any international company operating in the global capital marketplace.

“While it is difficult to leave, I’m happy to do so with a sense of accomplishment, and I am pleased that through my appointment to the board of Samruk Kazyna, I will be able to remain in touch with the Kazatomprom story. I am absolutely confident that the Board and management team will see to it that the Company continues to thrive.”

As per Kazatomprom’s Charter, until a new Board Chairman is elected by shareholders at a General Meeting, board members elect a Chairman at the beginning of the next regular board meeting. The Board unanimously decided to elect Mr. Neil Longfellow as interim Board Chairman until shareholders elect the Chairman of the Board at the next General Meeting of Shareholders of Kazatomprom. At that time, the Board will also propose that shareholders elect Neil Longfellow as Board Chairman.

An international process to identify additional independent, non-executive Board members is now underway; the Board will propose additional board members from selected candidates at the Company’s Annual General Meeting of Shareholders in May, 2020.

Mr. Longfellow is a citizen of the United Kingdom and joined the board as an independent member in 2017. As a Chartered Engineer and a Fellow of the Nuclear Institute, he would bring a wealth of nuclear expertise and experience to the Board’s Chairman position. This includes past roles at British Nuclear Fuels Limited’s Sellafield reprocessing plant, Westinghouse Electric Company’s Springfields Fuels Limited, and with Costain PLC in the nuclear, oil and gas sectors. Mr. Longfellow currently sits on all Board committees, as is the case for each of Kazatomprom’s independent board members, and is Chairman of the Production Safety (HSE) Committee.

“I am grateful for the nomination and the opportunity to take over from Jon as Board Chairman,” said Mr. Longfellow. “With the core task of privatization now behind us, I look forward to working with the Board and Kazatomprom’s management team to build on that success, and continue to focus on long-term value for our stakeholders.”

For further information, please contact:

Kazatomprom Investor Relations Inquiries

Cory Kos, Head of Investor Relations

Tel: +7 (8) 7172 45 81 80

Email: ir@kazatomprom.kz

Kazatomprom Public Relations and Media Inquiries

Torgyn Mukayeva, Director of Public Relations and Internal Communication

Tel: +7 (8) 7172 45 80 63

Email: pr@kazatomprom.kz

A copy of this announcement will be made available at www.kazatomprom.kz.

About Kazatomprom

Kazatomprom is the world's largest producer of uranium, with the company’s attributable production representing approximately 23% of global primary uranium production in 2018. The Group benefits from the largest reserve base in the industry and operates, through its subsidiaries, JVs and Associates, 26 deposits grouped into 13 mining assets. All of the Company’s mining operations are located in Kazakhstan and mined using ISR technology with a focus on maintaining industry-leading health, safety and environment standards.

Kazatomprom securities are listed on the London Stock Exchange and Astana International 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 visit our website at https://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 REALIZED, 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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