Q2 2025 PRODUCTION REPORT

KAZ MINERALS GROUP PRODUCTION AND SALES REPORT FOR THE SECOND QUARTER ENDED 30 JUNE 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

• In H1 2025, KAZ Minerals achieved its highest ever half yearly ore throughput of 50.6 Mt in H1 2025 as the
  Group continues to focus on maximising operational efficiency.
• Copper production in H1 2025 decreased by 4% to 184 kt (H1 2024: 191 kt) due to an expected reduction
  in the average copper grades processed and temporarily lower recovery rates at Bozshakol due to the
  complex mineralogy of the ore.
• By-product output declined compared with the prior year as mining took place in areas with lower by-
  product content.
• Copper sales of 176 kt in H1 2025 were 4% below production, as higher volumes of copper concentrate
  were dispatched for toll processing at the Balkhash smelter. However, in the second quarter, sales volumes
  of 96 kt exceeded production volumes as the Group was reduced goods in transit.

Andrew Southam, Chief Executive Officer, said: “KAZ Minerals achieved its highest ever half yearly ore throughput of
50.6 Mt, with both Aktogay and Bozshakol achieving ore processing records in the year so far. These excellent results
reflect the Group’s focus on enhancing operational capacity which has resulted in copper output of 184 kt in H1 2025.”

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