ESG and Climate Ratings

Fund group of portfolio companies introduce the practice of preparing annual non-financial reports (sustainability reports) in accordance with advanced internatio­nal standards such as GRI ­(Global Reporting Initiative), TCFD (Task Force on Climate-­related Financial Disclosures) and CDP (Carbon Disclosure Project).

ESG ratings (Environmental, Social, Governance) have been introduced as a tool to track real changes in the business and play a key role in assessing and managing the social and environmental aspects of doing business.

The Fund's development plan has set a target for large portfolio companies to reach the 70% percentile for ESG rating performance by 2032.

In the reporting year, the Fund and portfolio companies received the following ratings from international rating agencies:

ESG risk rating from Sustainalytics:

• NC QazaqGaz JSC — 19.2 points (low risk);
• Samruk-Kazyna JSC — 22.9 points (medium risk);
• Samruk-Energy JSC — 24.1 points (medium risk);
• NC KazMunayGas JSC — 32.3 points (high risk).

“S&P Global CSA Score 2023” from S&P Global:

• KEGOC JSC — 51/100;
• NC Kazakhstan Temir Zholy JSC — 54/100;
• NAC Kazatomprom JSC — 43/100.

CDP Climate Ratings:

• NAC Kazatomprom JSC- B;
• NC KazMunayGas JSC — C;
• Samruk-Energy JSC- D;
• NC QazaqGaz JSC- D.

These assessments help the Fund and its portfolio companies to make informed decisions and increase their sustainability efforts to reduce risks and improve social and environmental performance.

Given the growing interest of stakeholders in the Fund's ESG metrics, independent assurance of the Fund's Sustainability Report is planned for 2024. This improvement is aimed at providing all stakeholders with high-quality and useful information.