KK would like to respond to recent media reports in Kazakhstan regarding the suitability of several Kazakhstan Kagazy JSC board members. KK is a group of companies present in several jurisdictions, including Kazakhstan. All Group directors are appointed in full compliance with the local laws and applicable corporate governance standards.

Furthermore the boards of both our Group holding company (Kazakhstan Kagazy PLC) and Kazakh holding company (Kagazy Investments JSC) are composed of mostly non-executive, highly reputable directors. The boards of all other subsidiary group companies comprise mostly professional directors, as is common international practice.

Details of Kazakhstan Kagazy PLC's board can be found here.

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