Investor Presentation on Kazakhstan's Economic Reforms

Focus On Diversifying the Economy Continued economic diversification has underpinned Kazakhstan's resilience in the current crisis and reforms remain a key priority for the government. Growth Rates by Sector (Real GDP Growth) 14% 14% 10% 9% 8% 7% 7% 6% 6% 6% 6% 5% 3% 3% 14% 8% 8% 5% 6% 4% 4% 9% Agriculture Industry Construction Trade Transport and Storage Real Estate Professional Activities Education Administration Finance Communication 2018 2019 GDP Contribution by sector (% of GDP, 2019) Real GDP By Mining and Non-Mining (KZT tn ) 2.7% 70 3.2% Mining 4.0% 60 ■ Manufacturing 4.4% ■Trade 50 14.5% ■Transport and Storage 40 4.4% ■Real Estate 30 11.4% Construction 5.5% 20 ■ Agriculture 7.5% ■ Professional Activities 10 17.0% ■ Administration and public services 8.0% 0 ■ Finance 2001 ■ Education Source: Ministry of National Economy 10 2003 2005 2007 2009 2011 2013 2015 2017 2019 ■Mining Activities (Including Hydrocarbons) ■Non-Mining Activities

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