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Kazatomprom Announces Changes in the Management Board

8 April
Kazatomprom Announces Changes in the Management Board

National Atomic Company “Kazatomprom” JSC (“Kazatomprom” or “the Company”) announces that the Company’s Board of Directors (“the Board”) decided on the following changes to the Company’s Management Board.

Chief HR and HSE Officer

Alibek Aldongarov, the Chief HR and HSE Officer, a member of the Management Board since May 2021, has resigned from his roles from 3 April 2024 to pursue another career opportunity. The Board made a decision to abolish the position of the Chief HR and HSE Officer with the functions being transferred to the Managing director on HR and HSE.

“I would like to thank Mr. Aldongarov for over a decade of dedication and work at Kazatomprom group of companies, - said Meirzhan Yussupov, the Company’s Chief Executive Officer. – Mr. Aldongarov played a significant role in Kazatomprom’s digitalization program, building effective HR strategy and implementing important payroll programs within our operations and production personnel.

“I would like to once again reiterate that ensuring management stability and succession within the C-Suite is important, but we shall, first of all, respect personal decisions and career choices of our colleagues. On behalf of entire Company and from me personally, I wish Mr. Aldongarov the best of luck and success in his future endeavours.”

Chief Strategy and International Development Officer

On 5 April 2024 the Board approved a new organizational structure and introduced a position of the Chief Strategy and International Development Officer. Such a move underlines the importance of the Company’s strategic vision and international presence enhancement, especially amidst current geopolitical unravelling. The Chief Strategy and International Development Officer will be overseeing the Company’s strategy, ESG, international cooperation and investor relations functions. Dastan Kosherbayev, the Company’s Chief Commercial Officer and a member of the Management Board since June 2023, is expected to be appointed as the Chief Strategy and International Development Officer.

Mr. Kosherbayev’s performance in the roles of Director of Sales and Chief Commercial Officer was very strong. Under his leadership the Company continued to demonstrate sales discipline and remained a reliable supplier for the global nuclear industry. Based on 2023 results, the Company’s sales portfolio increased showing the closest correlation with a rising spot price in the industry. As it stands, the Company is in secure and comfortable position commercially. The Board believes that his expertise and valuable experience will serve as a strong base to lead the Company’s strategic direction and development in the years to come.

Chief Commercial Officer

Due to the expected appointment of Mr. Kosherbayev as the Chief Strategy and International Development Officer, required procedures are initiated to fulfil the vacancy of the Chief Commercial Officer.

The Board has extended the term of duties of members of the Management Board until 24 April 2027.  

For more information, please contact:

Investor Relations Inquiries

Botagoz Muldagaliyeva, Director, Investor Relations

Tel: +7 7172 45 81 80 / 69

Email: ir@kazatomprom.kz

Public Relations and Media Inquiries

Askar Atagulin, Director, Public Relations

Tel: +7 7172 45 80 63

Email: pr@kazatomprom.kz

A copy of this announcement is available at www.kazatomprom.kz.

About Kazatomprom

Kazatomprom is the world's largest producer of uranium, with the Company’s attributable production representing approximately 20% of global primary uranium production in 2023. 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 Astana, 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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