20 March 2017

MAJOR GROWTH PROJECT VAT REBATES

KAZ Minerals PLC ("the Group") announces that the refund of VAT paid during the construction of the Bozshakol and Aktogay projects has commenced. Following the completion of audit and other administrative procedures the Group has received $166 million in VAT refunds to date in 2017. The recoverable VAT paid during the construction of the two projects was included within non-current receivables as at 31 December 2016.

For further information please contact:

REGISTERED OFFICE

6th Floor, Cardinal Place, 100 Victoria Street, London SW1E 5JL, United Kingdom.

This announcement contains inside information.