Anniversary Year of the Atyrau Oil Refinery

Atyrau Oil Refinery LLP celebrated its 80th anniversary. Established in 1945 as the first oil refining enterprise in Kazakhstan, the refinery played a pivotal role in shaping the national oil refining industry and, for decades, has contributed to the country’s industrialization and the strengthening of its energy security.

Today, Atyrau Oil Refinery LLP is a strategic asset of KMG, ranks among the largest employers of the Atyrau Region (over 2.5 thousand employees), and conducts its operations in accordance with the principles of industrial safety, corporate governance, and sustainable development. In its anniversary year, the contribution of the refinery’s employees was recognized with state and industry awards.

In 2024, the refinery processed 5.5 million tonnes of crude oil for the first time, ranking among the country’s 15 largest taxpayers with tax payments totaling KZT 155 billion. In 2025, the positive trend continued: the refining depth reached 88%, and the yield of light oil products amounted to 75%. As part of its long-term development strategy, Atyrau Oil Refinery LLP plans to increase its refining capacity to 6.1 million tonnes per year and further improve the efficiency and environmental sustainability of its operations.

40 years of PetroKazakhstan Oil Products

Anniversary Year of the Shymkent Oil Refinery

The Shymkent Oil Refinery (PetroKazakhstan Oil Products LLP) celebrated the 40th anniversary of its commissioning. Launched in 1985, the refinery has become one of the key oil refining centers of Kazakhstan and played an important role in shaping the industrial infrastructure and socio‑economic development of the southern region of the country.

In its anniversary year, the enterprise showcased the results of technological modernization and digitalization efforts: pilot projects in the fields of predictive analytics and occupational safety were presented, aimed at enhancing equipment reliability and improving the level of industrial safety. Other landmark events included the opening of the memorial facility “Linear Oil Refining Complex, 6U Modification – the Heart of the Plant” and the corporate museum, which reflect the production and engineering heritage of the Shymkent Oil Refinery.

The plant continues to maintain high production performance: over 180 million tonnes of crude oil have been processed in 40 years, and in 2025 the refining depth reached 88%, with the share of light oil products amounting to 82%. As part of the anniversary celebrations, special attention was paid to social responsibility and the development of human capital. More than 150 employees and veterans were recognized with state and industry awards, and social projects aimed at improving the quality of life for the region’s population were implemented.

Anniversary Year of the Vega Refinery

In 2025, Rompetrol celebrated the 120th anniversary of the Vega Refinery, marking a significant milestone in the company’s history. On 1 December 1905, the Vega Refinery (Ploiești, Romania) was commissioned, featuring Europe’s first continuous-operation vacuum distillation unit for processing heavy crude oil to produce mineral oils.

In 2007, the controlling stake in Rompetrol was acquired by KMG, strengthening the Company’s position in the international market. This acquisition led to the modernization and expansion of production at the Vega Refinery, which in 2015 achieved record output levels for bitumen and n-hexane.

Between 2019 and 2020, the Vega Refinery completed the cleanup of toxic waste, disposing of a substantial volume of pollutants. In 2022, investments were made to enhance operational efficiency, which contributed to an improvement in the plant’s environmental performance. Currently, the Vega Refinery is wholly owned by Rompetrol Rafinare S.A., which is controlled by KMG International N.V. and the Ministry of Energy of Romania.

Year ofWorkingProfessions

Throughout the year, KMG implemented comprehensive programs aimed at developing its human capital.

In December, a grand closing ceremony of the “Year of working professions” was held, during which 58 outstanding employees of subsidiaries and affiliates were recognized. In his welcoming remarks, Chairman of the Management Board Askhat Khassenov emphasized the Company’s priority focus on the development of technical professions, staff upskilling, and improvement of working conditions, including the construction and modernization of more than 250 socially significant facilities within the KMG Group of Companies.

A key outcome of the year was the opening of the country’s first training and production site at the Atyrau Oil and Gas University named after Safi Utebayev, where more than 3,000 students receive practical training. In addition, KMG organized a youth forum, the Munaily Marathon–2025 charity run, with the proceeds directed to a rehabilitation center for children, along with other initiatives that underscored the Company’s systematic approach to human capital development and social responsibility.

270employees Under the “KMG Kásip” program, 270 employees received training across 12 specialties

99specialists 99 specialists were sent to partner companies for experience exchange

250students More than 250 students took part in dual education, and approximately 800 completed industrial internships

47women A total of 47 women participated in the JanAru educational program

24projects 24 projects with an aggregate economic effect of KZT 900 million were selected under the “ALYP” program

KMG Skills The KMG Skills competition served as a platform for showcasing best professional practices.

Environment

1. KMG’s Participation in the “Taza Kazakhstan” Initiative and the Opening of a Park in Astana

As part of the nationwide environmental initiative of the Head of State “Taza Kazakhstan”, KMG opened the KazMunayGas Park in Astana, where more than 1,300 trees have been planted across an area of 2.5 hectares. The Company consistently implements environmental programs: in 2025, over 113.7 thousand trees and 150 thousand pine seedlings were planted as part of reforestation efforts, hundreds of community clean-up events were conducted, and the development of green zones in KMG’s operating regions continues.

2. The Company’s Rating in the Carbon Disclosure Project (hereinafter — CDP)

In 2025, KMG maintained a rating of “B” in CDP, confirming the sustainability of the Company’s approaches to climate risk management, the consistency of its environmental disclosures, and the integration of the climate agenda into its corporate governance system.

3. Development of the Digital Hydrogen Atlas

The Company has developed a digital Hydrogen Atlas, which enables the assessment of hydrogen production and utilization potential across various regions of Kazakhstan and serves as a tool for making investment and strategic decisions.

4. Launch of a Pilot Project for the Production of Green Hydrogen

A pilot project for the production of green hydrogen was launched in Atyrau, marking a practical step in implementing KMG’s climate strategy and advancing the transition to low‑carbon technologies.

Social

1. Opening of a correction center for children in Kulsary

With the support of Embamunaigas JSC, a correction center providing assistance to 146 children was opened in the city of Kulsary, contributing to the development of the region’s social and inclusive infrastructure.

2. Launch of the JanAru program to support women in working professions

KMG launched the JanAru program aimed at expanding career opportunities for women in blue-collar professions, developing their skills, and increasing their engagement in production processes.

3. KMG charity marathon in Aktau

A charity marathon was held in Aktau with the participation of employees of the KMG Group, combining corporate volunteering with support for social initiatives in the region of the Company’s operations.

4. Implementation of the “Men saqtanamyn” Initiative

The KMG Group initiated the implementation of the “Men saqtanamyn” initiative, aimed at fostering a culture of personal responsibility for occupational safety and reducing workplace injuries.

Governance

1. Credit Rating Upgrade by S&P Global Ratings

S&P Global Ratings upgraded the Company’s credit rating to “BBB-” with a stable outlook, reflecting the Company’s financial resilience and the effectiveness of its corporate governance framework.

2. Placement of debut Eurobonds in Chinese yuan

KMG successfully placed its debut issue of Eurobonds denominated in Chinese yuan, expanding access to international capital markets and diversifying its funding sources.

3. Certification of KMG’s Anti-Bribery Management System

KMG successfully underwent an external audit, resulting in the issuance of a certificate confirming that the Company’s anti-bribery management system complies with the requirements of the ST RK ISO 37001-2017 (ISO 37001:2016) standard, affirming a high level of corporate compliance and adherence to ethical standards.