Kazatomprom announces the approval of its updated Development Strategy for 2025–2034

National Atomic Company “Kazatomprom” JSC (“Kazatomprom” or the “Company”) announces that its Board of Directors has approved the Company’s updated Development Strategy for the years 2025–2034 (the “Strategy”). The Strategy is a logical continuation of the 2018’s strategy implemented prior to IPO and maintains a commitment to creating long-term value. The update of the development strategy was necessitated by the early achievement of key strategic goals set for 2018–2028 and fundamental changes in the nuclear industry. The Strategy defines the Company's mission, vision, and strategic objectives for the next 10 years, aiming to sustainably strengthen the Company's position and utilise arising opportunities amid new nuclear renaissance.

“The updated Strategy focuses on continuous development in a changing industry, optimising processes and exploring potential opportunities for strategic participation in other stages of the nuclear fuel cycle. Such approach is expected to enable us to significantly replenish our resource base amidst growing demand, diversify long term revenue streams, mitigate geopolitical risks, and strengthen the Company’s position in the global market, ensuring stable and sustainable growth,” emphasised Arman Argingazin, Chairman of Kazatomprom's Board of Directors.

Since the implementation of the 2018–2028 Development Strategy, Kazatomprom has achieved the following:

• Removed over 48,000 tonnes of uranium from primary global production, contributing to the recovery of the uranium market and to achieving a balance between supply and demand, while preserving uranium reserves for future needs and fostering sustainable long-term value.
• Transformed its uranium sales strategy by limited sales to intermediaries and establishing its own trading arm. The Company significantly expanded its geographical reach and sales portfolio, adding six new countries to its client base since 2018, including Brazil (2018), Sweden (2018), Spain (2019), Argentina (2020), Romania (2021), and the UAE (2024). Furthermore, Kazatomprom enhanced its regional diversification by increasing the share of sales to the Americas from 16% in 2018 to 26% in 2023. The Company's sales portfolio demonstrates significant correlation with spot prices. Additionally, Kazatomprom has successfully diversified its transportation routes, with the share of deliveries to Western facilities via the Trans-Caspian International Transport Route reaching 64% in 2023.
• Significantly improved its corporate governance. The Company consistently strives to adhere to the best practices in HSE, corporate governance, compliance, disclosure and transparency. Investment community and other stakeholders’ trust has significantly increased. Kazatomprom received a Corporate Sustainability Assessment (CSA) score of 48/100 from S&P Global Ratings, exceeding industry average.

Kazatomprom's 2025-2034 Strategy remains committed to the “Value over Volume” principle, further reflecting changes in the nuclear fuel market and addressing the growing demand for both uranium products and rare and rare-earth metals. The Company's mission and vision are to support global transition to clean energy through sustainable development and to be an international leader in the nuclear industry.

“Growing importance of nuclear energy has become an integral part of global green energy policies, significantly strengthening fundamental dynamics of the uranium market, which are now stronger than ever. As the world's leading uranium producer and supplier, Kazatomprom plays a vital role in advancing global efforts towards clean energy transition. Our commitment to the strategy of creating long-term value for our shareholders remains steadfast. Successfully achieving Kazatomprom's updated strategic goals will not only reinforce the Company's position in the global uranium market, nuclear fuel cycle, and rare and rare-earth metals but also ensure the creation of long-term value for all stakeholders,” highlighted Meirzhan Yussupov, Kazatomprom’s Chief Executive Officer.

The Company's Board of Directors has identified the following strategic objectives for 2025–2034:

• Enhance focus on uranium mining as our core business, with efforts concentrated on replenishment and efficient use of resource base;
• Expand our footprint in the nuclear fuel cycle, given the arising opportunities, substantiated by economic value;
• Develop and expand rare and rare-earth metals segment under the critical minerals agenda;
• Continue to diversify sales and further enhance trading function;
• Improve and strengthen leading business and ESG practices in order to ensure and uphold integrity of business.

These strategic goals are interdependent and complementary, serving as a fundamental guideline for the Company's comprehensive development over the next 10 years.

Kazatomprom remains committed to its core principles of creating sustainable value, solidifying its reputation and credibility among investors, customers, and partners. Concurrently, the Company significantly contributes to the economic and social development of local communities, as well as the country as a whole.

Acknowledging the importance of the Strategy update for 2025–2034 and the need to effectively communicate it to the investment community, the Company plans to host a dedicated series of events to present and discuss its strategic goals for the next decade with investors and analysts. A corresponding public announcement will follow.