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Kazatomprom signs a contract with Emirates Nuclear Energy Corporation for the supply of natural uranium concentrates

2 December 2023
Kazatomprom signs a contract with Emirates Nuclear Energy Corporation for the supply of natural uranium concentrates

National Atomic Company Kazatomprom JSC and Emirates Nuclear Energy Corporation (ENEC) have signed the first ever contract for the supply of Kazakh natural uranium concentrates for the energy needs of the United Arab Emirates (UAE) Barakah nuclear energy plant (NEP).

The signing took place within the framework of the official visit of the President of the Republic of Kazakhstan Kassym-Jomart Tokayev to the UAE, during which the delegation of Kazatomprom took part in the United Nations Conference on Climate Change COP28.

”We are proud that the first ever commercial contract between Kazatomprom and ENEC will mark the beginning of valuable and promising cooperation between our companies. We are excited to add the UAE to our sales geography and appreciate the recognition of Kazatomprom with its exceptional supply track record and sustainable market reputation as a part of the UAE’s energy security and net-zero agenda. We hope our partnership will only strengthen in the future resulting in new contracts for the reliable supplies of natural uranium for the Barakah NEP,” said Meirzhan Yussupov, Kazatomprom’s Chief Executive Officer.

His Excellency Mohamed Al Hammadi, ENEC’s Managing Director and Chief Executive Officer commented: ”Signing this contract with Kazatomprom, the largest uranium producer globally, is strategically important for ENEC in further diversifying and securing fuel supplies. With a significant positive shift in many nations to include civil nuclear energy as part of their energy mix, security of fuel supply is paramount. Adding Kazatomprom boosts our roster of fuel partners further, ensuring a sustainable fuel supply for the generation of clean electricity to decarbonize energy intensive and heavy industry in the UAE”.

The conclusion of the contract with a large energy company of the UAE will serve as a new impetus for cooperation between nuclear companies of both countries and will also open a new country in the geography of Kazatomprom sales.

The scope and commercial terms of the contract are confidential and commercially sensitive and are not subject to public disclosure.

For more details, please contact:

Public Relations and Media Inquiries

Askar Atagulin, Director, Public Relations

Tel.: +7 7172 45 80 63

Email: pr@kazatomprom.kz

Investor Relations Inquiries

Botagoz Muldagaliyeva, Director, Investor Relations

Tel.: +7 7172 45 81 80 / 69

Email: ir@kazatomprom.kz

About Kazatomprom

Kazatomprom is the world's largest producer of uranium, with the Company’s attributable production representing approximately 22% of global primary uranium production in 2022. 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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