JSC Halyk Bank: ANNOUNCES THE RESULTS OF THE INVITATION TO PARTICIPATE IN RESPECT OF ITS GDR PURCHASE TRANSACTION

THIS NOTICE IS NOT FOR DISTRIBUTION TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE SUCH NOTICE

10 December 2021

JSC Halyk Bank (the "Bank")

 (a joint stock company established under the Laws of the Republic of Kazakhstan)

ANNOUNCES THE RESULTS OF THE INVITATION TO PARTICIPATE IN RESPECT OF ITS GDR PURCHASE TRANSACTION

This Notice should be read in conjunction with the Invitation to Participate published by the Bank on 2 December 2021. Capitalised terms used in this notice and not defined herein shall have the meanings ascribed to them in the Invitation to Participate.

On 2 December 2021, the Bank announced the launch of an Invitation to Participate to Qualifying Holders of its GDRs (ISIN US46627J3023 (Regulation S)/US46627J2033 (Rule144A)) (the "GDRs") to offer their GDRs up to the Maximum Acceptance Amount for purchase by the Agent for cash at a price equal to USD 16.78 per GDR on the terms and subject to the conditions set out in the Invitation to Participate.

The Invitation to Participate expired at 5 p.m. (London time) on 9 December 2021.

The results of the Invitation to Participate are as follows:

GDRs offered for purchase

3,776,581 GDRs (representing 151,063,240 underlying Shares) have been validly offered for purchase by Qualifying Holders.

Shares offered for purchase

718,054,740 Shares have been validly offered for purchase by holders thereof.

GDRs and Shares accepted

Offers to participate in the GDR Purchase Transaction when aggregated with offers to participate in the Share Purchase Transaction have exceeded the Maximum Acceptance Amount.

The total number of Shares (including Shares represented by GDRs) accepted for purchase is 869,117,980.

A Pro-ration Factor of 0.97314239 has been applied to all Offers to Participate.

Consequently, the number of GDRs accepted for purchase following application of the Pro-ration Factor and rounding is 3,675,151.

An identical Pro-ration Factor has been applied to offers to participate in the Share Purchase Transaction. Consequently, the number of Shares (excluding Shares represented by GDRs) accepted for purchase following application of the Pro-ration Factor and rounding is 698,769,505.

Settlement

The Settlement Date is expected to be 14 December 2021, on which date the Agent will pay the relevant Offer Consideration to the Qualifying Holders whose GDRs have been accepted for purchase.

All GDRs purchased by the Agent will be immediately on-sold to the Bank and, following conversion into Shares, will be held by the Bank in treasury without cancellation.

Outstanding Share capital following Settlement Date

10,908,273,852 Shares will remain outstanding after the Settlement Date (including Shares represented by GDRs, but excluding Shares held in treasury by the Bank).

The aggregate number of Shares held in treasury by the Bank following the Settlement Date will be 2,539,270,930.

The distribution of this notice in certain jurisdictions may be restricted by law. Persons into whose possession this notice comes are required by the Bank to inform themselves about, and to observe, any such restrictions.

The communication of this notice, and any other documents or materials relating to the Invitation to Participate is not being made, and such documents and/or materials have not been approved by, an authorised person for the purposes of section 21 of the Financial Services and Markets Act 2000 as amended (the "FSMA"). Accordingly, this notice and such documents and/or materials are not being distributed to, and must not be passed on to, persons in the United Kingdom save in circumstances where section 21(1) of the FSMA does not apply. This notice, and any such other documents and/or materials are exempt from the restriction on financial promotions under section 21 of the FSMA on the basis that they are only directed at and may only be communicated to (i) persons falling within Articles 19 and 43 of the UK Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) and (ii) any other persons to whom these documents and/or materials may lawfully be communicated (together being referred to as "relevant persons" in this paragraph), and must not be acted on or relied upon by persons other than relevant persons. Any investment activity referred to in this notice is available only to relevant persons and will be engaged in only with relevant persons.