Completion of the open two-stage competition

Joint Stock Company “National Mining Company “Tau–Ken Samruk” (hereinafter – Tau–Ken Samruk) hereby announces the completion of an open two-stage tender (hereinafter – the Tender) for the sale of 51% to 100% of the interests in the authorized capital of Tau-Ken Temir Limited Liability Partnership and Silicon Mining Limited Liability Partnership (hereinafter – the Assets). The criterion for evaluating the Tender offers was the proposed price for the Assets. The Participant whose Tender offer proposes the highest price for acquisition of the Assets, considering the terms of installments or payment in installments (tranches) is recognized as a winner of the Tender. Based on the results of consideration of the submitted Tender offers, the Consortium consisting of METALEEN INVESTMENTS HOLDINGS LLC and TSP ALÜMINYUM ANONIM ŞIRKETI (hereinafter – the Winner) was recognized as the winner of the Tender. Five offers were received from potential participants as part of the Tender:

Tender Participant	Size of the share offered for acquisition	Offered price (KZT)	Price per 100% (KZT)
Consortium consisting of METALEEN INVESTMENTS HOLDINGS LLC and TSP ALÜMINYUM ANONIM ŞIRKETI	55%	4 906 880 000	8 921 600 000
Participant-2	100%	8 500 000 000	8 500 000 000
Participant-3	100%	5 170 000 000	5 170 000 000
Participant-4	100%	5 010 000 000	5 010 000 000
Participant-5	51%	2 538 305 861	4 977 070 316

As part of the investment obligations of the Tender, the Winner (according to Annex No. C1 and Annex No. C2 to the Tender Documentation), inter alia, undertakes:

• preserve the Asset’s activity profile for at least 5 (five) years from the date of Agreement conclusion;
• restart production within 2 (two) years (without Tau-Ken Samruk participation);
• repay debts of the Assets to Tau-Ken Samruk (the actual amount will be determined on the date of conclusion of the purchase and sale agreement, as of April 26, 2024, the intra-group debt of the Assets amounts to KZT4 132 thousand);
• execute a put option. Within a period of no more than 5 years from the date of conclusion of the purchase and sale agreement of 55% of the interests in the authorized capital of the Assets, Tau-Ken Samruk has the right to require the Winner to redeem the remaining 45% of the interest in the authorized capital of the Assets, at a price not less than the purchase price calculated per 1% of the interest in the authorized capital of the Assets applying indexation for profitability in the amount determined by the parties, and the Winner will be obliged to buy the specified share from Tau-Ken Samruk within a period not exceeding 6 months from the date of submitting the corresponding request for redemption of Tau-Ken Samruk or within another period agreed by the parties.