Q1 2026 Production Report

PRODUCTION AND SALES REPORT FOR THE FIRST QUARTER ENDED 31 MARCH 2026

HIGHLIGHTS

◆  Copper

Copper production of 87.9 kt in Q1 2026 was 6% lower quarter-on-quarter, primarily reflecting reduced output at Bozshakol and the East Region. Aktogay accounted for the majority of copper output during the quarter. Copper sales of 82.3 kt were 6% below production, driven by the timing of shipments, with a higher volume of cathodes in transit and an increase in smelter work‑in‑progress at the period-end.

◆  Precious metals

Gold and silver production declined in Q1 2026 compared with the previous quarter, primarily due to lower grades processed at the East Region and Bozymchak, as mining progressed through areas with lower metal content. Bozshakol also experienced reduced throughput and recoveries as a result of changes in ore characteristics.

◆  Zinc in concentrate

Zinc in concentrate output of 10.4 kt was lower quarter-on-quarter, primarily reflecting reduced processing volumes at the East Region following planned maintenance at the Nikolayevsky concentrator in January.

◆  Molybdenum in concentrate

Molybdenum in concentrate production rose 7% quarter-on-quarter to 1,127 t, reflecting higher output at Aktogay and Bozshakol, supported by stronger recoveries

Andrei Tretyakov, Chief Executive Officer, said: “In the first quarter of 2026, KAZ Minerals maintained a strong focus on operational efficiency across the Group. The Aktogay concentrators were the principal contributors to copper production, with Group output reaching 88 kt. The resilience of our asset portfolio was once again demonstrated through solid results in the reporting period, underpinned by effective operations across all production sites and a robust long-term resource base.”