Shareholder and investor relations

KMG’s shareholders

The annual General Meeting of Shareholders is expected to approve the following documents and matters in relation to the reporting year:

• KMG’s 2024 annual financial statements (consolidated and standalone);
• KMG’s 2024 net profit distribution procedure;
• amount of dividend per ordinary share in KMG;
• 2024 dividend record date;
• date for the commencement of dividend payments for ordinary shares for 2024.

Shareholder rights

In accordance with the Law of the Republic of Kazakhstan on Joint Stock Companies and the Company’s Charter, KMG may issue only ordinary shares. Holders of ordinary shares possess the following fundamental rights:

• to participate in the management of the Company;
• to receive dividends;
• to request and obtain information about the Company’s activities, including access to its financial statements;
• to nominate candidates for election to the Board of Directors;
• to challenge resolutions of the governing bodies in court;
• to submit inquiries and receive responses within 30 calendar days;
• to receive part of the Company’s assets in the event of its liquidation;
• to exercise the pre‑emptive right to purchase shares or securities convertible into shares;
• to participate in the adoption of resolutions regarding changes in the number or type of shares.

These rights are established by the laws of the Republic of Kazakhstan and the Company’s Charter, which ensures transparency and protection of shareholder interests.

Publicly traded shares

Dividends

KMG’s dividend policy is aimed at balancing the interests of shareholders, creditors and the Company, as well as ensuring transparency in determining the amount of dividend payments to its shareholders. Resolutions on dividend payments are passed by KMG’s General Meeting of Shareholders, taking into account the price of crude oil, the structure of KMG’s debt, its capital expenditures, and other material circumstances.

Key terms for paying out dividends:

• positive equity;
• consolidated net income for the reporting period or retained earnings at the end of the reporting period;
• positive free cash flow.

In 2024, KMG delivered robust financial performance, positioning it to anticipate an increase in dividend payments. Following its IPO in 2022, the Company distributed record dividends of KZT 300 bln for each of the years 2022 and 2023.

Thus, KMG continues to strengthen its investment case by paying consistent and growing dividends to its shareholders.

On 26 June 2024, KMG completed the payment of dividends to shareholders based on the results of 2023. The total amount of dividends stood at KZT 300.0 bln. Dividend per ordinary share totalled KZT 491.71.

For more details, see the Financial Statements section.

Bond issues

For more details, see the Financial Review section.

KMG’s credit ratings

Credit ratings assigned by international rating agencies serve as reliable and independent tools for the Group’s credit assessment. KMG seeks to maintain its key financial metrics at or above the levels required for investment‑grade long‑term ratings. KMG supplies rating agencies with all necessary information for an objective evaluation of its creditworthiness and maintains regular contact with them.

KMG’s credit ratings are closely linked to the sovereign ratings of Kazakhstan; changes in the sovereign rating can impact the ratings of Kazakhstan’s issuers, including KMG.

In 2024, international rating agencies reaffirmed or upgraded the Company’s credit ratings:

• on 21 June 2024, Fitch Ratings reaffirmed KMG’s long‑term credit rating at BBB, with a stable outlook;
• on 11 September 2024, Moody’s upgraded KMG’s credit rating from Baa2 to Baa1, also changing the outlook to stable.

Thus, KMG currently holds investment‑grade credit ratings from both Moody’s and Fitch Ratings on par with the sovereign rating of the Republic of Kazakhstan.

Investor engagement

KMG actively engages with the investment community to ensure reliable access to financing while optimising its cost. This process involves Company leadership, including the Chairman of the Board of Directors, the Chairman and members of the Management Board, and representatives of key departments such as strategy, finance, operations, ESG, and investor relations.

Each quarter, KMG publishes:

• results presentations;
• press releases featuring financial results and trading updates;
• financial statements in accordance with IFRS;
• analytical books.

KMG holds semi‑annual conference calls for investors to discuss financial and operating results, with senior management participating. In addition, the Company organises one‑on‑one calls with investors and rating agencies, and also takes part in conferences focused on ESG and global market trends.

In 2024, KMG continued to enhance transparency of its disclosures, responding promptly to investor inquiries. In particular, we published our expanded Sustainability Report for 2023. Also, the Company received an ESG Risk Rating of 32.8 points from Sustainalytics, ranking 44th among 294 oil and gas companies.

The Company is committed to improving its ongoing dialogue with investors, regularly reviewing market perceptions of KMG at the Board of Directors level.

All materials for investors, including contact information, are available in the Investors section of  the Company’s website