Q1 2025 PRODUCTION REPORT

KAZ MINERALS GROUP PRODUCTION AND SALES REPORT FOR THE FIRST QUARTER ENDED 31 MARCH 2025

^1. Payable metal in concentrate and copper cathode from Aktogay oxide ore
^2. Payable metal in concentrate
^3. Payable metal in concentrate, toll processed metal and copper cathode from Aktogay oxide ore
^4. Payable metal in concentrate and toll processed metal

Highlights

• KAZ Minerals processed 24.8 Mt of ore in Q1 2025, representing the Group’s highest ever quarterly throughput and the result of operational improvements.
• The focus on throughput enabled the Group to deliver copper output of 90.4 kt in the quarter (Q4 2024: 92.9 kt), partially offsetting the impact of an expected reduction in grades processed.
• By-product output decreased compared with the previous quarter as mining took place in areas with lower polymetallic content.
• Copper sales of 80.3 kt were 11% below the production of 90.4 kt primarily due to a build-up of copper cathode in transit to customers.

Andrew Southam, Chief Executive Officer, said: “KAZ Minerals remains focused on optimising its operational performance. The excellent productivity of the concentrators at Aktogay and Bozshakol continued in the first quarter of 2025, with the Group achieving its highest ever quarterly throughput and recording 90 kt of copper output.”

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