Supplement to Base Offering Memorandum

Kazakhstan (Republic of)

21 October 2025

 

THE REPUBLIC OF KAZAKHSTAN

represented by the Ministry of Finance of the Republic of Kazakhstan

acting upon authorisation of the Government of the Republic of Kazakhstan

U.S.$15,000,000,000 Global Medium Term Programme

Publication of Supplement to the Base Offering Memorandum

21 October 2025

The Republic of Kazakhstan (the "Issuer"), represented by the Ministry of Finance of the Republic of Kazakhstan acting upon authorisation of the Government of the Republic of Kazakhstan, has prepared a new supplement (the "Supplement") to the base offering memorandum dated 7 October 2024 (the "Base Offering Memorandum"), as previously supplemented on 23 June 2025,  in connection with the Issuer's U.S.$15,000,000,000 Global Medium Term Note Programme (the "Programme"). This Supplement is supplemental to, forms part of and should be read and construed in conjunction with the Base Offering Memorandum.

To view the full Supplement, please paste the following URL into the address bar of your browser:

http://www.rns-pdf.londonstockexchange.com/rns/2605E_1-2025-10-21.pdf

For further information, please contact:

Alisher Aimashev

Ministry of Finance of the Republic of Kazakhstan

Mangilik Yel Avenue 8

Entrance 4

Astana, 010000

Republic of Kazakhstan

E-mail: [e-mail]

DISCLAIMER - INTENDED ADDRESSEES

Please note that the information contained in this announcement, the Supplement and the Base Offering Memorandum may be addressed to and/or targeted at persons who are residents of particular countries (specified in the Supplement and/or Base Offering Memorandum) only and is not intended for use and should not be relied upon by any person outside these countries and/or to whom the offer contained in the Supplement and/or Base Offering Memorandum is not addressed. Prior to relying on the information contained in this announcement, the Supplement and/or Base Offering Memorandum you must ascertain from the Supplement and the Base Offering Memorandum whether or not you are part of the intended addressees of the information contained therein.

In particular, this announcement, the Supplement and the Base Offering Memorandum do not constitute an offer to sell or the solicitation of an offer to buy securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities law of any such jurisdiction. The securities referred to in this announcement, the Supplement and the Base Offering Memorandum have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act, and the rules and regulations thereunder. The Issuer does not intend to register any of the securities referred to in this announcement, the Supplement and the Base Offering Memorandum in the United States or to conduct a public offering of the securities referred to in this announcement, the Supplement and the Base Offering Memorandum in the United States or elsewhere.

Your right to access this service is conditional upon complying with the above requirement.

 

END