GUIDANCE UPDATE

Minerals PLC (“KAZ Minerals” or “the Group”) today announces an update to its production and capital expenditure guidance for the 2020 financial year.

In its production report for the third quarter ended 30 September 2020, the Group indicated that full year copper and gold production would be at the top end of their respective guidance ranges of 280-300 kt and 180-200 koz. Following the successful completion of maintenance in November 2020, the absence of material disruption from Covid-19 and taking into account production run rates, copper and gold output are now expected to be 2-3% above their respective guidance ranges.

Due to the timing of payments on the Aktogay expansion and Baimskaya projects, in the region of $100 million of capital expenditure planned for 2020 will be incurred in the first quarter of 2021.

For further information please contact:

KAZ Minerals PLC
Chris Bucknall	Investor Relations, London	Tel: +44 20 7901 7882
Anna Mallere	Investor Relations, London	Tel: +44 20 7901 7814
Maksut Zhapabayev	Corporate Communications, Almaty	Tel: +7 727 244 03 53
Brunswick Group
Carole Cable, Charles Pretzlik		Tel: +44 20 7404 5959

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