Investor Presentation on Kazakhstan's Economic Reforms slide image

Investor Presentation on Kazakhstan's Economic Reforms

Disclaimer IMPORTANT: You must read the following before continuing. The following applies to this document, the oral presentation of the information in this document by the Republic of Kazakhstan("Kazakhstan"), represented by the Ministry of Finance of the Republic of Kazakhstan acting upon the authorisation of the Government of the Republic of Kazakhstan, or any person on behalf of Kazakhstan, and any question-and-answer session that follows the oral presentation (collectively, the "Information"). In accessing the Information, you agree to be bound by the following terms and conditions. The Information may not be reproduced, redistributed, published or passed on to any other person, directly or indirectly, in whole or in part, for any purpose. This document may not be removed from the premises. If this document has been received in error it must be returned immediately to Kazakhstan. 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Kazakhstan does not intend to register any portion of the offering of the Securities in the United States or to conduct a public offering of the Securities in the United States. This document and its contents may not be viewed by persons within the United States or "U.S. Persons" (as defined in Regulation S under the Securities Act) unless they are qualified institutional buyers ("QIBS") as defined in Rule 144A under the Securities Act ("Rule 144A"). The Securities may not be offered or sold in the United States except to QIBs in reliance on Rule 144A or another exemption from, or transaction not subject to, the registration requirements of the Securities Act. By accessing the Information, you represent that you are (i): a non-U.S. person that is outside the United States or (ii) a QIB. 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By accessing the Information, you represent that you are a Relevant Person. FCA/ICMA stabilisation. The Information does not constitute or form part of, and should not be construed as an offer or the solicitation of an offer to subscribe for or purchase the Securities, and nothing contained therein shall form the basis of or be relied on in connection with any contract or commitment whatsoever, nor does it constitute a recommendation regarding the Securities. Any decision to purchase the Securities should be made solely on the basis of the information to be contained in the base prospectus (or equivalent disclosure document) produced in connection with the offering of the Securities. Prospective investors are required to make their own independent investigations and appraisals of the financial condition of Kazakhstan and the nature of the Securities before taking any investment decision with respect to the Securities. The base prospectus (or equivalent disclosure document) may contain information different from the Information. The Information has been prepared by Kazakhstan. Citigroup Global Markets Limited are acting exclusively for Kazakhstan and no one else, and will not be responsible for providing advice in connection with the Information to any other party. Subject to applicable law, Citigroup Global Markets Limited does not accept any responsibility whatsoever and makes no representation or warranty, express or implied, for the contents of the Information, including its accuracy, completeness or verification or for any other statement made or purported to be made in connection with Kazakhstan and nothing in this document or at this presentation shall be relied upon as a promise or representation in this respect, whether as to the past or the future. 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Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond Kazakhstan's control that could cause Kazakhstan's actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by such forward-looking statements. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the Information or the opinions contained therein. The Information has not been independently verified and will not be updated. The Information, including but not limited to forward-looking statements, applies only as of the date of this document and is not intended to give any assurances as to future results. Kazakhstan expressly disclaims any obligation or undertaking to disseminate any updates or revisions to the Information, including any fiscal data or forward-looking statements, and will not publicly release any revisions it may make to the Information that may result from any change in Kazakhstan's expectations, any change in events, conditions or circumstances on which these forward-looking statements are based, or other events or circumstances arising after the date of this document. Market data used in the Information not attributed to a specific source are estimates of Kazakhstan and have not been independently verified. Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended ("MiFID II"); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the "MiFID II Product Governance Requirements"), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any "manufacturer" (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the Securities have been subject to a product approval process, which has determined that such Securities are: (i) compatible with an end target market of investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the "Target Market Assessment"). 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