Kaz minerals PLC HALF-YEARLY REPORT

FOR THE PERIOD ENDED 30 June 2015

FINANCIAL HIGHLIGHTS

• EBITDA of $88 million, excludes $6 million capitalised contribution from Bozymchak
• East Region EBITDA of $109 million

• Strong operating cost management
• Gross cash cost of 270 USc/lb versus previous guidance of 280-300 USc/lb
• Full year gross cash cost guidance reduced to 260-280 USc/lb
• East Region achieved competitive net cash cost of 125 USc/lb

• Positive operating cash flow
• Free Cash Flow before interest of $30 million
• Sustaining capital expenditure limited to $25 million

• Significant liquidity
• Funds available of $2,210 million at 30 June 2015: $1,460 million of cash and $750 million of undrawn facilities
• $50 million revolving credit facility signed with Caterpillar in August 2015
• Net debt $1,589 million as at 30 June 2015

OPERATIONAL HIGHLIGHTS

• Solid first half output
• Underlying copper in concentrate production of 43 kt
• On-track to achieve 2015 cathode production target of 80-85 kt
• Zinc and silver output to achieve top end of guidance range

MAJOR GROWTH PROJECTS

• Bozshakol
• Fire on 14 August 2015 currently expected to result in commissioning commencing in the first quarter of 2016 with no change to the capital budget
• Installation of processing equipment largely complete, now in testing phase
• Pit fully dewatered, pre-production mining activities underway

• Aktogay
• 1,075 kt of oxide ore with grade of 0.35% extracted and placed on pads as at 31 July
• SX/EW processing facilities close to completion ahead of first cathode production in the fourth quarter
• Sulphide plant construction proceeding on schedule for 2017 start up

OUTLOOK

• Launch of growth projects, 2015 copper guidance maintained
• Initial production from Aktogay oxide in 2015
• Repairs to be undertaken at Bozshakol whilst continuing final construction and testing work
• Close control of costs and sustaining capital expenditure
• Release of smelter work in progress to support cathode production in second half

Oleg Novachuk, Chief Executive, said: “Bozshakol and Aktogay progressed well in the first half of 2015, with pre-production mining activities underway and Aktogay on course for initial copper cathode production from oxide ore later this year. At Bozshakol, our preliminary assessment following the fire that occurred in the concentrator building on 14 August is that commissioning is currently expected to be delayed to the first quarter of 2016, with no change to the capital budget. As a result of the East Region’s solid operational performance and cost control measures we are on track to achieve our full year copper production guidance at a reduced gross cash cost.”

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KAZ Minerals PLC (“KAZ Minerals” or “the Group”) announces the signing of a new $50 million revolving credit facility (“RCF”) with Caterpillar Financial Services (UK) Limited (“Cat Financial”), a subsidiary of Caterpillar Inc.. Caterpillar Inc. is a major supplier of mining equipment to the Group’s Bozshakol and Aktogay projects.

The RCF is available for drawing for three years from the date of signing, following which the facility is repayable in four equal quarterly instalments. An interest rate of USD LIBOR plus 4.25% is payable on amounts outstanding under the RCF. The financial covenants on the RCF are identical to those applicable to the Group’s existing pre-export finance facility.

Andrew Southam, Chief Financial Officer, said: “This new facility with Cat Financial provides KAZ Minerals with additional liquidity during the construction and ramp-up of our major growth projects and broadens the Group’s debt portfolio.”

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KAZ Minerals PLC will announce its half-yearly results for the six months ended 30 June 2015 on Thursday 20 August 2015 at 7.00am (UK time).

A presentation for analysts will be held in the Theatre at the London Stock Exchange, 10 Paternoster Square, London EC4M 7LS at 9.15am (UK time).

The presentation for analysts can also be accessed by conference call at 9.15am (UK time). The dial-in details are as follows:

Telephone: +44(0)20 3003 2666

Please quote the password: KAZ Minerals

A webcast of the presentation for analysts will also be available on the KAZ Minerals website

(www.kazminerals.com).

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