National Managing Holding “Baiterek” JSC Presentation about National Managing Holding “Baiterek” JSC Astana

Holding’s Strategy 2014-2023 Mission Vision by 2023 to promote sustainable economic development of Kazakhstan through funding and support of priority sectors of the economy for implementation of public policy and State programs, finding solutions for socially-oriented tasks and reaching goals set by the “Strategy 2050” Vision by 2023 the main financial agent of the Government of the Republic of Kazakhstan that supports diversification, modernization and sustainable development of the economy and provides solutions for socially-oriented tasks of the state The main goals and objectives Provision of full range of financing instruments Support of small and medium enterprises Support of new, modern economic sectors and innovation development of the economy Support of export activities of national companies Support and promotion of affordable housing

Strengths About Holding International rating agency Fitch Ratings and S&P has assigned Baiterek Holding long-term credit rating “BBB+” Wide range of non-financial and financial instruments Experience in investing to large and long-term projects in a wide range of industries Experience in supporting SMEs Experience of successful cooperation with international financial institutions Possibility to attract funding from government budget Board of Directors includes key government officials and is chaired by the Prime Minister of Kazakhstan

Board of directors Chairman of the board, Prime-Minister Karim Massimov First deputy prime-minister Bakhytzhan Sagintayev Minister of finance Bakhyt Sultanov Minister of investment and development Asset Issekeshev Minister of national economy Yerbolat Dossaev Head of Department in Executive office of the President Daulet Yergozhin Chairman Kuandyk Bishimbayev Independent director Klaus Mangold Thomas Mirow Philip Yeo

Baiterek Holding’s group of companies Development Bank of Kazakhstan JSC Kazyna Capital Management JSC Investment Fund of Kazakhstan JSC Public Private Partnership Advisory Center LLP National Agency of Technological Development JSC Export Credit Insurance Corporation JSC Entrepreneurship Development Fund “Damu” JSC House construction savings bank of Kazakhstan JSC Kazakhstan Mortgage Company MO JSC Mortgage Guarantee Fund of Kazakhstan JSC Distressed assets fund JSC Investment sector 2010-2014 State Program for accelerated industrial and innovative development of the Republic of Kazakhstan Entrepreneurship & Innovation sectors Business Road Map – 2020 Program Affordable Housing – 2020 Program Housing sector

* Data from preliminary reports Holding’s results on 30.06.2014 Holding’s share capital 722 bln. tenge* Total number of employees of Holding group 2427 people* Total assets of Holding’s subsidiaries 2 116 bln. tenge* Total net profit of Holding’s subsidiaries 12 bln. tenge* Net profit in 2013 7 bln. tenge 12 Net profit in 2014 5 bln.tenge increase * Data from preliminary reports

Development Bank of Kazakhstan JSC (DBK) Establishment Established in 2001 with Presidential Decree and Law “On the Development Bank of Kazakhstan” Mandate Assisting the diversification of the economy of Kazakhstan Development of the infrastructure and industries involved in raw material processing Enhancing effectiveness of government investment activity Facilitating foreign and domestic investments into Kazakhstan Instruments Medium and long-term financing for investment projects Agent services for investment projects financed by the government or government-guaranteed debt Leasing and trade finance Project and working capital financing Investment priorities Metallurgy Chemicals and petrochemicals Transportation and logistics Construction and other manufacturing industries Electrical energy generation and transmission Loan portfolio to total assets ratio - 41% (at the beginning of the year - 34%) Interbank lending program In 2013 DBK approved and implemented Interbank lending program to support industrial-innovative development of Kazakhstan by providing lending to commercial banks to finance projects in priority sectors of economy Allocate45 bln. tenge DBK Commercial banks Loans to 0.5 to 4.5 bln. tenge SME Loan term up to 5 years Interest rate ≤ 11.5% (average market rate 13-15%) Currently 38 bln. tenge allocated to commercial banks under the program

Investment activity of DBK 2001-1HY 2014 77 projects Launched $4,9 bln. DBK participation – $2,6 bln. 246 projects (including DBK leasing) Approved for financing $14,5 bln. DBK participation – $7,8 bln. 23 thousands Total work places 2013 &1HY 2014 Launched (equipment delivered) $696 mln. 7 project & 3 export operations Approved for financing $1,8 bln. DBK participation – $912 mln. 5 projects ~700 Total work places From the beginning of realization of SPAIID 2010-1HY 2014 Map of Industrialization & Productivity 2020 Program 31 projects (including DBK leasing) 30 projects & 12 leasing operations Approved for financing $8,6 bln. DBK participation – $4,7 bln. Launched $2,9 bln. ~11 thousands Total work places Munaimash Costs : $10 mln. Titan Fuel and Energy Complex Costs : $1,1 mln. Kazakhstan Electrolysis Plant Costs : $1 080 mln. Borovoe Tourism City Costs: $89 mln. Euras Caspian Steel Costs : $131 mln. ABK MAXAT Costs:$20 mln. Kazakhstan rail car manufacturing Company Costs : $56 mln. Agromashholding Costs :$40 mln. Caustic Costs: $90 mln. Kazakhcement Costs : $130 mln. Uralsk Gas Turbine station Costs: $69 mln. Steel Zinc Costs: $2,5 mln. Agromashholding Costs: $25 mln. Steel Zinc Costs: $9 mln. Ust-Kamenogorsk Titanium Magnesium Plant Costs : $135 mln. Bias Tech Costs:$21 mln. SaryarkaAvtoProm Сумма проекта: $73,5 mln. Asia Auto Costs: $2,6 mln. Karaganda Energocenter Costs: $235 mln. Accent Logistics Costs: $27,4 mln. Maikuduk Poultry Factory Costs: $13 mln. Atyrau Oil Refinery Plant Costs: $2 956 mln. Shygys Construction Management Costs : $3 mln. Kazakhstan Petrochemical Industries Inc. Costs: $1 946 mln. Akshabulak gas turbine power plant Costs: $129 mln. Moinak Hydroelectric Power Station Costs : $361 mln. Kentau Transformer Plant Costs: $5,6 mln. Zapchast Costs: $19,05 mln. Aktau International Airport Costs: $75 mln. Chimbulak Development Costs: $205.9 mln. Taraz Metallurgical Plant Costs: $79 mln. Ontustyk Kurylys Service Costs: $6,6 mln. 8 Commissioned Implemented Productivity 2020

Investment fund of Kazakhstan JSC (IFK) Establishment established with the Decree of Government of the Republic of Kazakhstan dated May 30, 2003 № 501 "On creation of Investment Fund of Kazakhstan JSC” Main activities encouraging private investment in the non-oil sector of the economy through co-financing investment projects and participation in the management of these project rehabilitation of distressed projects Invested more than 34 billion tenge in 36 projects since the establishment of the fund Returned assets worth 10.2 billion tenge Advantages of investing in the projects of IFK Entering the common market of a United Economic Area (UEA - Kazakhstan, Russia, and Belarus), with a population of around 170 million people Attractive investment climate in Kazakhstan. The Republic ranks a leading place in the region according to the ratings of investment attractiveness In the ranking of a favorable business environment (Doing Business 2013), Kazakhstan ranks in 49th place In the ranking of Forbes Best Countries for Business (2011), Kazakhstan ranks the 80th place According to the report of PricewaterhouseCoopers “Paying Taxes 2013”, Kazakhstan ranks the 17th place in the rating of a favorable tax climate Advices and assistance from highly qualified staff of professional managers of the Fund, experts in their field Please see attachment for full pipeline of the projects of the Investment Fund of Kazakhstan. Detailed information on any of the projects will be provided upon request

Kazyna Capital Management JSC (KCM) Establishment a fund of private equity funds established in May 2007 by the initiative of the President of the Republic of Kazakhstan to attract institutional investors, as well as to promote effective private equity in Kazakhstan Islamic Infrastructure Fund 226,5 млн. $ Key parameters Baiterek Venture Fund Kazakhstan Infrastructure Fund Target fund size Up to $ 50 million - at the first closing $ 100 million - a target capitalization Up to $500 million (may be increased up to $1 billion in the long-term) Term 10 years (5 years – investment period; 5 years – exit period) 10 - 15 years (10 years – investment period; 5 years – exit period) Investment geography Kazakhstan Kazakhstan and Customs Union countries Investors Kazyna Capital Management KCM at the first closing Other international institutional investors Target sectors Priority sectors of the State Program on Accelerated Industrial-Innovative Development (SPAIID) and projects at an early stage of development Projects requiring capital restructuring Projects requiring rehabilitation measures Power industry Health care Transport infrastructure Public utility

Entrepreneurship Development Fund “Damu” JSC Establishment established in accordance with the Decree of Government of the Republic of Kazakhstan dated April 26, 1997 № 665 in order to encourage the formation and growth of small businesses in Kazakhstan and increase efficiency of state funds allocated to support small businesses Main activities providing funds for lending to commercial banks loan guarantee and interest rate subsidies under the program “Business Road Map – 2020” skill-building and entrepreneurs support facilities by the program “Business Road Map – 2020” and own programs Fund-for-lending Interest rate subsidies Loan guarantee Skill-building 2013 & 1Q 2014 113 650 bln. tenge 2 609 lenders 237 803 mln. tenge 1 723 entrepreneurs 176 entrepreneurs 24 200 entrepreneurs Accumulated results 793 807 14 902 735 600 3524 entrepreneurs 284 entrepreneurs 56 927 entrepreneurs Service centers for entrepreneurs Mobile entrepreneurship support centers Entrepreneurship support centers in monocities In 17 regional centers, Astana, Almaty In 14 areas In 27 monocities

National Agency for Technological Development JSC (NATD) Establishment Established in 2003 as National Innovation Fund JSC In 2012 reorganized into the National Agency for Technological Development JSC under the Ministry of Industry and New Technologies of Kazakhstan Provision of innovation grants Development of innovation infrastructure Provision of technological business incubation Development of technology transfer Analytical and expert support of innovation activities Investment support innovation projects Investments in innovative companies and venture funds Promotion of innovation activities International cooperation Main activities Infrastructure 8 technological parks in 6 regions of Kazakhstan 4 International centers for technology transfer (CTT) 4 engineering design offices Kazakh-French CTT 21 offices and 2 centers of commercialization Kazakh-Korean CTT SEZ “Park of Innovation Technologies” Kazakh-American CTT Kazakh-Norwegian CTT Innovation support tools Innovation grants Technological business incubation 2013 more than 186 applications processed 44 projects approved total amount 822.9 mln.tenge 164 20 307 2010-2013 1000 210 9 648 mln. tenge 600 116 971

Public Private Partnership Advisory Center (PPP АС) Established on March 19, 2014 in accordance with the recommendation given in the framework of the third meeting of the Coordinating Council for Public-Private Partnership under the Government of the Republic of Kazakhstan, September 13, 2013 Establishment National Managing Holding “Baiterek” JSC (share – 75%) Kazakhstan PPP Center JSC– under the Ministry of Economy and Budget Planning (share – 25%) Share-holders to support infrastructure development in the Republic of Kazakhstan by providing the advisory services during the implementation of infrastructure projects Mission Main activities Advisory support of infrastructure projects (including PPP) Preparation of feasibility studies of PPP projects Consulting the state bodies and potential investors on project structuring

Thank you for your attention! National Managing Holding “Baiterek” JSC Registered address: House 10, Orynbor street Current address: House 8, Block B, D.Kunayev street Astana, 010000 Republic of Kazakhstan Telephone: + 7 7172 91 91 00 Fax: + 7 7172 91 91 15 Email: pr@baiterek.gov.kz Web: www.baiterek.gov.kz