ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of October 2, 2025 No. 818

About determination of criteria of implementation of the biddings by securities at the exchange

According to the subitem 13) of Article 436 and the subitem 7) of article 681 of the Tax Code of the Republic of Kazakhstan the Government of the Republic of Kazakhstan DECIDES:

1. Determine criteria of implementation of the biddings by securities at the exchange according to appendix 1 to this resolution.

2. To joint-stock companies "Kazakhstan stock exchanges" (in coordination) and "The exchange of the International financial center "Astana" (in coordination) monthly, no later than the 15th following month under report to place information on the securities corresponding to the criteria established by this resolution on the Internet resources.

3. Recognize invalid some decisions of the Government of the Republic of Kazakhstan according to appendix 2 to this resolution.

4. This resolution becomes effective since January 1, 2026 and is subject to official publication.

Appendix 1

to the Order of the Government of the Republic of Kazakhstan of October 2, 2025 No. 818

Criteria of implementation of the biddings by securities at the exchange

1. When implementing the biddings securities at the exchange (except for shares of mutual investment funds and debt securities) at the same time observe the following criteria:

1) the amount of the performed security transactions at the exchanges functioning in the territory of the Republic of Kazakhstan makes at least 25 (twenty five) million tenges in calendar month;

2) the quantity of the performed security transactions at the exchanges functioning in the territory of the Republic of Kazakhstan makes at least 50 (fifty) transactions in calendar month;

3) securities placement by carrying out the IPO (Initial Public Offering) or SPO (Secondary Public Offering) or the number of the securities which are in free circulation makes at least 10 (ten) percent from total quantity of the placed securities less redeemed by the issuer.

2. When implementing the biddings shares of mutual investment funds at the exchanges functioning in the territory of the Republic of Kazakhstan at the same time observe the following criteria on the performed security transactions:

1) the amount of transactions with shares of mutual investment funds makes at least 20 (twenty) million tenges in calendar month;

2) the number of transactions with shares of mutual investment funds makes at least 10 (ten) transactions in calendar month.

3. When implementing the biddings debt securities within one release at the exchanges functioning in the territory of the Republic of Kazakhstan for the purposes of application of the subitem 7) of article 681 of the Tax Code of the Republic of Kazakhstan observe criterion on amount of the open tenderings and the debt securities of this release which are in circulation placed by method which makes at least 1 (one) one billion tenge.

Note: when calculating quantity of the securities which are in free circulation, specified in the subitem 3) of Item of 1 these criteria, from total quantity of the placed securities, less redeemed by the issuer, securities which are in property are excluded:

states;

officials of the issuer and their close relatives;

legal entities in whom officials of the issuer and their close relatives are large shareholders or have respective share in property and (or) are officials;

legal entities in whom large shareholders of the issuer and their close relatives are large shareholders or have respective share in property and (or) are officials;

affiliated organizations of the issuer and affiliated organizations of the large shareholder of the issuer;

persons, each of which possesses these securities, in the quantity making 10 (ten) and more percent from total quantity of the placed securities of this issuer less redeemed by the issuer.

Appendix 2

to the Order of the Government of the Republic of Kazakhstan of October 2, 2025 No. 818

List of invalid some decisions of the Government of the Republic of Kazakhstan

1. The order of the Government of the Republic of Kazakhstan of November 17, 2022 No. 911 "About determination of criteria of implementation of the biddings by securities at the exchange".

2. The order of the Government of the Republic of Kazakhstan of March 20, 2024 No. 220 "About modification and amendments in the order of the Government of the Republic of Kazakhstan of November 17, 2022 No. 911 "About determination of criteria of implementation of the biddings by securities at the exchange".

3. The order of the Government of the Republic of Kazakhstan of December 21, 2024 No. 1096 "About modification and amendments in the order of the Government of the Republic of Kazakhstan of November 17, 2022 No. 911 "About determination of criteria of implementation of the biddings by securities at the exchange".

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