Akimat of Borodulikha district

CURRENT QUESTIONS ABOUT UAPF

CURRENT QUESTIONS ABOUT UAPF What will happen to citizens' pension savings after the amendments to the Social Code come into force? Is their safety guaranteed? How is this ensured? Article 217 of the Social Code stipulates that, effective January 1, 2027, "the State guaranteesbeneficiaries the safety of compulsory pension contributions and compulsory occupational pension contributions to the Unified Accumulative Pension Fund in the amount of actually paid compulsory pension contributions and compulsory occupational pension contributions." The state guarantees the safety of pension assets by regulating the activities of the Unified Accumulative Pension Fund and private investment portfolio managers (IPMs), establishing investment requirements for both the National Bank of the Republic of Kazakhstan (NBRK) and IPMs, requirements for diversification and risk mitigation when investing pension assets, and other regulatory standards. Therefore, the funded pension system and pension provision for Kazakhstanis as a whole remain under the regulation, control, and responsibility of the state. Who manages pension assets? Pension asset investments are handled by the National Bank of the Republic of Kazakhstan (NBRK), and since 2021, by investment portfolio managers (IPMs) holding the appropriate license and meeting the requirements of the authorized body. The primary objective of this type of trust management of pension savings is to invest in various financial instruments and generate income. Pension asset managers—the NBRK and IPMs—have their own pension asset investment strategies and independently determine the structure of their investment portfolios within the framework of their investment declarations. The current IPM registry includes six private companies that Kazakhstanis can entrust with the management of their pension savings: Alatau City Invest JSC, BCC Invest JSC, Centras Securities JSC, Halyk Finance JSC, Halyk Global Markets JSC, and Tansar Capital JSC. You can find information about investment portfolio managers and study their investment declarations on the website www.enpf.kz in the “Services” section - “Register of Investment Portfolio Managers”, as well as through the online information platform invest.enpf.kz. Legislative changes provide for the possibility of transferring up to 100% of pension savings accumulated through compulsory pension contributions and compulsory occupational pension contributionsto the management of an investment portfolio manager (IPM). How will this mechanism work? Article 40 of the Social Code grants depositors the right to independently decide whether to transfer their pension savings to the management of the Compulsory Pension Contributions (CPC) and/or maintain them under the management of the National Bank. In September 2026, legislative changes will also come into force, expanding depositors' investment options. Currently, depositors can transfer up to 50% of compulsory pension contributions and compulsory occupational pension contributions, and up to 100% of voluntary pension savings, to the CPC. Starting in the fall, they will be able to transfer both voluntary pension savings and savings formed from compulsory pension contributions (CPC) and compulsory occupational pension contributions (COPC) in full to the CPC. The contributor has the right to independently select one or more IPMs, as well as various investment portfolios—that is, investment strategies for managing pension assets offered by the IPMs, which vary in risk level, expected return, and investment term. To transfer funds to an IPM trust, the contributor must submit an application form. This can be done in their personal account on the enpf.kz website, on the invest.enpf.kz online platform using an electronic digital signature, or at any UAPF branch. What are the benefits of transferring pension savings? How can contributors find complete information on pension asset management and track the performance of management companies? Transferring up to 100% of pension savings to IPM management opens up opportunities for depositors to grow their capital over the long term by choosing an IPM with a better performance history or a more aggressive strategy. The UAPF, 100% government-owned, is the unified infrastructure institution in the pension market. With contrtibutors exercising their right to transfer their savings to IPM management, the UAPF's institutional role has expanded. The UAPF is a unified accounting and information center for all contributors, operating their individual pension savings accounts regardless of who manages the assets (the NBRK and/or the IPM, at the contributor's discretion). The UAPF provides accessible services related to pension asset management, fully reflecting information about citizens' savings in statements 24/7. In addition, an online information platform (invest.enpf.kz) has been launched for UAPF contributors as a modern digital resource that allows them to compare asset management results across all managers (the National Bank of the Republic of Kazakhstan and the IPM). Invest.enpf.kz provides access to performance information and allows for dynamic comparison of data across asset managers and their portfolios over a specified period. Using this platform, contributors can learn about: investment portfolio structure; return indicators for various periods; composition of investment instruments; comparative characteristics of various managers; investment statements and management strategies. Furthermore, information on investment activities is regularly published on the enpf.kz website and the invest.enpf.kz online platform and is updated on an ongoing basis. How will IPM liability be ensured when receiving pension savings into trust management? The contributor has the right to independently select the IPM and investment portfolio, i.e., the investment strategy for managing pension assets, which differ in risk level, expected return, and investment term. In turn, the IPM bears statutory responsibility for the fiduciary management of pension assets and, in the event of a negative difference between the nominal return earned by the IPM and the minimum return calculated in accordance with regulatory requirements, compensates for the negative difference from the IPM's own capital.

UAPF: Investment portfolios managed by the NBRK and the IPM as of July 1, 2026

ANNOUNCEMENT Investment portfolios managed by the NBRK and the IPM as of July 1, 2026 UAPF JSC (UAPF, the Fund) presents a report on pension asset management by the National Bank of the Republic of Kazakhstan (NBRK) and investment portfolio managers (IPM) on the enpf.kz website in the "Statistics and Analytics - Pension Asset Investment Management" section. The total volume of pension assets managed by the NBRK and IPMs as of July 1, 2026, amounted to KZT 28,081.70 bln. As of this date, UAPF's pension assets held in trust by the NBRK, formed through compulsory pension contributions (CPCs), compulsory occupational pension contributions (COPCs), and voluntary pension contributions (VPCs), amounted to approximately KZT26,786.27 bln. The volume of pension assets formed through employer’s compulsory pension contributions (ECPCs) held in trust by the NBRK amounted to KZT1,173.59 bln. Pension assets under IPM management amounted to KZT121.84 bln. Investment portfolio of pension assets managed by the National Bank of the Republic of Kazakhstan The National Bank of Kazakhstan, as the trustee of the UAPF pension assets, pursues a balanced investment policy: investing in various types of financial instruments, diversifying the portfolio by currency, country, sector, and issuer. According to information provided by the National Bank of Kazakhstan, the main investment areas of pension assets formed through CPC, COPC, and VPC as of July 1, 2026, are as follows: government securities of the Ministry of Finance of the Republic of Kazakhstan – 43.32%, bonds of quasi-public companies – 7.87%, deposits of the National Bank of Kazakhstan – 3.71%, bonds of second-tier banks of the Republic of Kazakhstan – 2.57%, shares and depositary receipts of issuers of the Republic of Kazakhstan – 2.07%, IFI – 0.97%, and government securities of foreign countries – 0.41%. 38.37% of assets are invested through index management. This approach involves creating an investment portfolio focused on a benchmark portfolio, which is a set of securities reflecting the contributor's strategic interests. The benchmark portfolio's return serves as a metric for assessing management effectiveness. The benchmark portfolio is based on indices developed and monitored by leading global financial companies or the National Bank of the Republic of Kazakhstan. Index management of assets is carried out by the National Bank of the Republic of Kazakhstan both independently and with the involvement of foreign management companies in certain areas, including sub-portfolios of bonds from developed and developing countries, corporate bonds, and equities. The investment portfolio, broken down by currencies in which financial instruments acquired through the CPC, COPC, and VPC are denominated, as of July 1, 2026, is as follows: investments in national currency – 59.00%, in US dollars – 41.00% of the pension asset portfolio. As a result of investments, interest income on securities, including deposits and reverse repo transactions, amounted to KZT1,114.54 bln, income from market revaluation of securities amounted to KZT91.69 bln, income from assets under external management, including those adjusted for exchange rate revaluation, amounted to KKZT127.62 bln, and other income amounted to KZT3.33 bln. The market revaluation of foreign currency, excluding assets under external management, was negative. The accrued investment income for the last 12 months from July 2025 to June 2026 amounted to approximately 2.51 trillion tenge, with a return of 10.29% for this period. The ECPC's investment portfolio as of July 1, 2026, is as follows: government securities of the Ministry of Finance of the Republic of Kazakhstan – 88.17%, deposits of the National Bank of the Republic of Kazakhstan – 8.74%, repo transactions – 3.08%, and cash in investment accounts – 0.01%. The investment portfolio, funded by the ECPC, includes only financial instruments denominated in national currency. Interest income on securities, including deposits and reverse repo transactions, amounted to KZT69.44 bln. The revaluation of securities brought contributors KZT1.69 bln. As of July 1, 2026, accrued investment income over the past 12 months amounted to KZT122.77 bln, with a return of 16.84% for the period. A detailed breakdown of the investment portfolio of financial instruments managed by the National Bank of the Republic of Kazakhstan, including issuers, and an overview of investment activities are available on the UAPF's official website. Information on the portfolio structure of pension assets formed through the ECPC is also available on the enpf.kz website. Investment portfolio managers The total volume of pension assets under IPM management is KZT121.84 bln. As of July 1, 2026, pension assets under the trust management of Alatau City Invest JSC amounted to KZT19.32 bln. The company's main investments: Exchange Traded Funds (ETF) units – 31.79%, shares and depositary receipts of issuers of the Republic of Kazakhstan – 14.57%, bonds of second-tier banks of the Republic of Kazakhstan – 10.80%, government securities of foreign governments – 9.42%, corporate bonds of issuers of the Republic of Kazakhstan – 8.19%, bonds of quasi-public organizations of the Republic of Kazakhstan – 6.24%, repo – 4.99%, corporate bonds of foreign issuers – 4.28%, microfinance organizations – 2.94%. Please note that 54.48% of the portfolio is held in tenge, 44.66% in US dollars, and 0.86% in other currencies. The return on pension assets over the past 12 months from July 2025 to June 2026 was 13.88%. A detailed breakdown of the investment portfolio of financial instruments managed by Alatau City Invest JSC, including issuers, is available on the UAPF website. As of July 1, 2026, UAPF pension assets held in trust by BCC Invest JSC amounted to KZT15.53 bln. Main investment areas: Government securities of the Ministry of Finance of the Republic of Kazakhstan – 28.58%, bonds of second-tier banks of the Republic of Kazakhstan – 20.35%, bonds of quasi-public organizations of the Republic of Kazakhstan – 15.72%, shares and depositary receipts issued by organizations of the Republic of Kazakhstan – 9.00%, corporate bonds of issuers-residents of the Republic of Kazakhstan – 8.12%, units of Exchange Traded Funds whose asset structure mirrors the structure of the MSCI ACWI Index components – 5.55%, corporate bonds of foreign issuers – 5.42%. Investments in national currency accounted for 67.76% of the portfolio, in US dollars – 32.24%. The return on pension assets at the beginning of the year was 5.98%, and over the last 12 months from July 2025 to June 2026, it was 11.41%. A detailed structure of the investment portfolio of financial instruments managed by BCC Invest JSC, with an indication of issuers, is presented on the UAPF website. As of July 1, 2026, pension assets held in trust by Halyk Global Markets JSC amounted to KZT6.95 bln. The main investments in the portfolio structure are as follows: equity instruments of foreign issuers (ETF units) - 26.64%, bonds of quasi-public organizations of the Republic of Kazakhstan - 17.64%, bonds of second-tier banks of the Republic of Kazakhstan - 15.45%, reverse repo (no more than 90 calendar days) - 10.39%, notes of the National Bank of the Republic of Kazakhstan - 7.04%, shares and depositary receipts issued by organizations of the Republic of Kazakhstan - 6.10%, corporate bonds of organizations of the Republic of Kazakhstan - 5.91%, government securities of the Ministry of Finance of the Republic of Kazakhstan - 5.58%, securities with government status issued by the central governments of foreign states - 4.97%. It should be noted that 63.26% of the portfolio is held in tenge, and 36.74% in US dollars. The return on pension assets over the past 12 months was 12.37%. A detailed breakdown of the investment portfolio of financial instruments managed by Halyk Global Markets JSC, including issuers, is available on the UAPF website. As of July 1, 2026, pension assets under trust management by Halyk Finance, a subsidiary of Halyk Bank of Kazakhstan, amounted to KZT65.58 bln. The main investments in the portfolio structure are as follows: bonds of second-tier banks of the Republic of Kazakhstan – 21.51%, bonds of quasi-public organizations of the Republic of Kazakhstan – 14.17%, units of Exchange Traded Funds (ETF) – 11.59%, government securities of the Ministry of Finance of the Republic of Kazakhstan – 8.10%, shares and depositary receipts of issuers of the Republic of Kazakhstan – 7.67%, reverse repo (up to 90 calendar days) – 7.32%, corporate bonds of issuers of the Republic of Kazakhstan – 7.02%, MFOs – 4.39%, corporate bonds of foreign issuers – 4.19%, notes of the National Bank of the Republic of Kazakhstan – 1.21%. 64.89% of the portfolio is invested in instruments in national currency, 35.11% in US dollars. The return on pension assets over the past 12 months from July 2025 to June 2026 was 11.69%. A detailed breakdown of the investment portfolio of financial instruments managed by Halyk Finance Subsidiary of Halyk Bank of Kazakhstan JSC, including issuers, is available on the UAPF website. As of July 1, 2026, pension assets under trust management by Tansar Capital JSC amounted to KZT0.32 bln. The main investments in the portfolio structure are as follows: Repo – 37.33%, Exchange Traded Funds (the asset structure of which mirrors the structure of the MSCI ACWI Index components) – 32.27%, ETFs on major stock indices – 7.32%, shares and depositary receipts issued by organizations of the Republic of Kazakhstan – 4.71%. 42.35% of the portfolio is invested in national currency instruments, and 57.65% in US dollars. Tansar Capital JSC began managing pension assets on April 8, 2026. The return on pension assets since the beginning of management has amounted to 1.84%. A detailed breakdown of the investment portfolio of financial instruments managed by Tansar Capital JSC, including issuers, is available on the UAPF website. As of July 1, 2026, UAPF's pension assets, held in trust by Centras Securities JSC, amounted to approximatelyKZT14.14 bln. 22.70% of the portfolio was invested in bonds of Kazakhstan's second-tier banks, 16.24% in repos, 13.75% in bonds of Kazakhstan's quasi-public organizations, 13.63% in corporate bonds of Kazakhstan's issuers, 6.95% in US government bonds, 4.73% in corporate bonds of foreign issuers, 4.52% in government securities of the Ministry of Finance of the Republic of Kazakhstan, 3.59% in shares and depositary receipts of foreign issuers, and 3.34% in shares and depositary receipts of Kazakhstan's resident issuers. Investments in national currency constituted 70.51% of the portfolio, while those in US dollars accounted for 29.49%. The return on pension assets over the past 12 months from July 2025 to June 2026 was 18.66%. A detailed breakdown of the investment portfolio of financial instruments managed by Centras Securities JSC, including issuers, is available on the UAPF website. As a reminder, UAPF has launched a unified online information platform for investment management of citizens' pension assets, invest.enpf.kz, which consolidates all key information about pension funds in a single digital space and provides a systematic approach to providing data on investment activities. UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Institution Committee of State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details atwww.enpf.kz)

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UAPF: Kazakhstanis' investment income for the past 12 months exceeded 2.8 trillion tenge

Kazakhstanis' investment income for the past 12 months exceeded 2.8 trillion tenge. Investment income for investors is generated through the management of pension assets by the National Bank of Kazakhstan (NBRK) and private investment portfolio managers (IPMs). Based on the NBRK's investment activities in managing pension assets generated through compulsory pension contributions (CPCs), compulsory occupational pension contributions (COPCs), and voluntary pension contributions (VPCs), the accrued investment income for the last 12 months from June 2025 to May 2026 amounted to approximately 2.71 trillion tenge, with a return of 11.46% for this period. For pension assets formed through employer's compulsory pension contributions (ECPC), accrued investment income over the past 12 months as of June 1, 2026, amounted to 115.29 billion tenge, with a return of 17.12% for this period. It is important to note that the return on pension assets for individual short periods is not an indicator of their management effectiveness, as income from financial instruments and other transactions accrued over a short period does not always cover fluctuations in the value of securities and exchange rates over a given period. Therefore, an objective analysis of investment income is advisable over a longer period. The accrued investment return since the inception of the funded pension system in 1998 as of June 1, 2026, cumulatively, was 1,095.39%, with inflation for the entire period at 986.70%. As of June 1, 2026, the net investment income earned by the NBRK since April 1, 2014 (following the consolidation of pension assets into the UAPF) amounted to 10.94 trillion tenge. Taking into account payments made, its share of the total pension savings of contributors (beneficiaries) is 41.2%, demonstrating the significant role of investment activity in the structure of citizens' savings. As a reminder, contributors have the right to transfer a portion of their pension assets (up to 50% of pension savings through CPC, COPC, and up to 100% of pension savings through VPC) to a private investment portfolio manager (IPM) that meets the regulator's requirements. Investors can choose one of three investment portfolios within which the IPM operates: the Ki (12) portfolio, which is suitable for all contributors, regardless of age. The minimum return is calculated over the past 12 months; the Ki (36) portfolio, which is designed for those with at least three years left until retirement. The minimum return is calculated over a 36-month period; the Ki (60) portfolio, which is designed for contributors with a long-term horizon (more than 13 years until retirement). The minimum return is determined over a 60-month period. The entire investment management and pension asset accounting system is transparent: each contributor can view their investment income in their personal account on the enpf.kz website or in the mobile app. Information on the investment management of UAPF pension assets and on the financial instruments in which UAPF pension assets are invested is published on the official UAPF website (www.enpf.kz) in the section “Statistics and Analytics/Investment Management of Pension Assets,” and also on the portal invest.enpf.kz UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Institution Committee of State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details atwww.enpf.kz)

UAPF: Pension savings continue to grow: Over the past 12 months, the increase amounted to 4.33 trillion tenge

ANNOUNCEMENT Pension savings continue to grow: Over the past 12 months, the increase amounted to 4.33 trillion tenge. As of June 1, 2026, the pension savings of Kazakhstanis exceeded 27.67 trillion tenge, an increase of 4.33 trillion tenge (or 18.6%) over the past 12 months. The bulk of pension savings are funds formed through compulsory pension contributions (CPCs), which reached 25.81 trillion tenge. Over the 12 months, they increased by 3.93 trillion tenge (or 18.0%). Pension savings formed through compulsory occupational pension contributions (COPCs) amounted to 754.69 billion tenge, an increase of 13.3% over the 12 months. The volume of voluntary pension contributions (VPC) also increased: as of June 1, 2026, it reached 10.13 billion tenge, representing a 19.8% increase over the 12 months. Pension savings generated through employer’s compulsory pension contributions (ECPCs), which have been deposited into contributors' (beneficiaries') pension accounts since January 1, 2024, continue to grow. As of June 1, 2026, their volume exceeded 1,097.48 billion tenge, 2.6 times higher than the previous year. Incomes The total savings volume is provided by pension contributions and investment income. In the first five months of 2026, 1,487.96 billion tenge in contributions were received into individual and notional pension savings accounts, an increase of 14.4% (or 186.95 billion tenge) compared to the same period last year. As of June 1, 2026, 1,143.82 billion tenge were received into individual pension savings accounts (IPSA) for the purpose of recording the compulsory pension contributions (CPC) (a 6.9% increase compared to the same period last year), 63.14 billion tenge were received into the compulsory occupational pension contributions (COPC) (a 10.3% increase), and 815.51 million tenge were received as VPC). ECPC for the year totaled 280.19 billion tenge. Net investment income received in contributors' accounts since the beginning of the year, as of 01.06.2026, amounted to 834.86 billion tenge. Benefits and Transfers Benefits for all types of contributions and transfers to insurance companies from the UAPF for January-May 2026 reached 693.53 billion tenge. The volume of old-age benefits amounted to 115.37 billion tenge. The average monthly scheduled payment from the UAPF upon reaching retirement age was 38,890 tenge. Lump-sum pension benefit payments (LSPBP) for housing improvements and medical treatment since the beginning of 2026 amounted to 307.75 billion tenge, inheritance payments amounted to 47.55 billion tenge, payments related to permanent residence outside the Republic of Kazakhstan amounted to 17.54 billion tenge, payments to persons with disabilities amounted to 1.48 billion tenge, and funeral payments amounted to 3.93 billion tenge. A total of 199.91 billion tenge was transferred to insurance companies. IPSA Number The total number of pension accounts in the UAPF as of June 1, 2026, was 18.68 million (an increase of 1.09 million or 6.2% over the 12 months). The number of individual pension account contributors (beneficiaries) in the UAPF as of June 1, 2026, was 12.78 million, of which 11.34 million were of CPC, 781,880 - COPC and 460,210 - VPC. It should be noted that the total number of accounts for recording the compulsory pension contributions (11.34 million) also includes accounts of beneficiaries who have permanently resided outside the country but have not applied for their savings, deceased contributors whose heirs have not formalized the inheritance of their pension savings, military personnel who transferred to full state pension provision in 2016, and other categories of contributors (beneficiaries) whose accounts should not receive contributions under Kazakhstani law. The number of notional pension accounts in the UAPF recording information on received ECPC totaled 5.90 million. All up-to-date statistical data on pension assets is available on the enpf.kz website in the "Statistics and Analytics" section. UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Institution Committee of State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details atwww.enpf.kz)

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