Sovereign Wealth Fund Samruk-Kazyna JSC (the "Fund") announces that it has decided to discontinue its rating relationship with S&P Global Ratings.

On June 12, 2026, S&P Global Ratings withdrew its ratings at the Fund's request. At the time of withdrawal, the Fund's long-term issuer credit rating was within the investment-grade category at 'BBB-' with a positive outlook. The withdrawal was not driven by any rating action by the agency or change in the Fund’s credit profile.

The decision is a part of Fund's ongoing optimization of its external credit rating coverage and related costs. Maintaining ratings from three international agencies is neither a regulatory requirement nor an obligation of the Fund. The current coverage by two leading international agencies is consistent with standard market practice for comparable issuers.

Following this change, the Fund continues to maintain investment-grade ratings from:

•  Fitch Ratings – 'BBB', stable outlook;

•  Moody's Ratings – 'Baa1', stable outlook.

This rating coverage fully meets the requirements of the international capital markets and is sufficient for the Fund's existing financing documentation. The decision does not reflect any change in the Fund's credit profile, financial position or strategy.

In addition, for its bond issuance program on Chinese domestic bond market (panda bonds), the Fund maintains a national scale rating of 'AAA' with a stable outlook from China Chengxin International (CCXI), reflecting the Fund's commitment to a long-term presence in the Chinese capital markets.

The Fund reaffirms its commitment to the principles of transparency and to high standards of disclosure to investors and creditors. The withdrawal of the S&P Global Ratings assessment has no impact on the Fund's obligations under its outstanding debt instruments.