HALYK GROUP FINANCIAL RESULTS PRESENTATION YE2017 & 4Q 2017 (Moody s Ba1 / Fitch BB / S&P BB)

HALYK GROUP FINANCIAL RESULTS PRESENTATION YE2017 & 4Q 2017 (Moody s Ba1 / Fitch BB / S&P BB) 19 March, 2018 1

Disclaimer Certain information contained in this presentation may include forward-looking statements. Such forward-looking statements are not guarantees of future performance. These statements are based on management s current expectations or beliefs as of the date of this presentation and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The Bank disclaims any intention or obligation to publicly update or revise any forward-looking statements. Basis of calculation: - all figures in this presentation are based on IFRS audited financial statements or financial statements reviewed by auditors, unless stated otherwise; - for comparison purposes, the statement of profit or loss for 12M 2017 & 12M 2016; 4Q 2017 & 4Q 2016 are shown in this presentation without Altyn Bank based on IFRS financial statements. 2

Speakers Umut Shayakhmetova CEO, Halyk Bank Ulf Wokurka CEO, KKB Murat Koshenov, CFA Deputy CEO, Corporate Banking, International Activities Yertai Salimov Deputy CEO, Operations and Treasury Almas Makhanov Chief Risk Officer and Compliance Controller 3

Awards 2017 Halyk Bank Halyk Bank Halyk Bank Halyk Bank The Best Bank in Kazakhstan The Best Foreign Exchange Provider in Kazakhstan 2018 The Best Trade Finance Provider 2018 The best bank which supports business in the regions Euromoney Magazine, July 2017 Global Finance, December 2017 Global Finance, January 2018 DAMU, 2017 Halyk Bank Halyk Finance Kazkommerts Securities Halyk Finance The leader of the market The Best Investment Bank in Kazakhstan 2017 The Best Underwriter of Kazakhstan I The Best Sovereign Bond Issue in Europe, Middle East and Africa KASE, 2017 News-agency CBONDs, March 2017 News-agency CBONDs, March 2017 EMEA Finance Achievement Awards, November 2017 4

Table of Contents 1. Halyk Group financial results YE2017 & 4Q 2017 2. KKB 3. Business Update 4. Kazakhstan: Economic and Banking Sector Update 5. Q&A Appendix 5

One Halyk Group financial results YE2017 & 4Q 2017 6

YE2017 & 4Q 2017 Performance Highlights KZT bn Excluding KKB 12M 2017 12M 2016 (4) Y-o-Y, % 4Q 2017 4Q 2016 (4) Y-o-Y, % 12M 2017 Y-o-Y, % 4Q 2017 Y-o-Y, % Net income 173.4 131.4 31.9% 38.0 37.4 1.7% 155.0 17.9% 36.9 (1.4%) Net interest income 248.5 172.0 44.5% 81.7 46.8 74.5% 201.9 17.4% 53.2 13.6% Fee and commission income 87.6 57.7 51.9% 28.8 15.4 86.7% 62.3 8.0% 16.5 7.1% RoAE, p.a. 22.7% 22.3% 18.0% 23.1% 20.6% 18.0% RoAA, p.a. 2.6% 2.8% 1.8% 3.0% 3.0% 2.7% Cost of risk (2), p.a. 2.2% 1.0% 4.8% 1.1% 1.0% 1.5% NIM (3), p.a. 4.9% 5.5% 4.9% 5.3% 5.4% 5.7% First synergy effect of integration with KKB On 15 December 2017 the Board of Directors has approved the merger of KKB into Halyk Bank Full integration on common operating model and single technology platform targeted by 2H 2018 On 7 June 2017 Halyk entered into an agreement with China CITIC Bank and China Shuangwei Investment Co. in relation to the sale of 60% of the share capital in Altyn Bank. Closing is expected in 1H 2018 before impairment charge. (2) impairment charge on loans to customers / monthly average balances of gross loans to customers, on consolidated IFRS basis. (3) net interest income / average interest earning assets (monthly average balances of cash and cash equivalents (less cash on hand and correspondent accounts with the NBK), financial assets at fair value through profit or loss (less derivative financial instruments), amounts due from credit institutions, available-for-sale investment securities, net loans to customers), on consolidated IFRS basis. (4) financial indicators (ROAE, ROAA, Cost of risk, NIM) for 12M 2016 and 4Q 2016 are calculated taking into account Altyn Bank. 7

YE2017 & 4Q 2017 Performance Highlights KZT bn 01.01.2018 01.01.2017 YTD, % 01.10.2017 Q-o-Q, % 01.01.2017 without Altyn Bank Excluding KKB YTD, % 01.01.2018 YTD, % without Altyn Bank Interest earning assets 6,900 3,915 76.2% 6,579 4.9% 3,734 3,840 (1.9%) 2.8% Gross loans 3,568 2,604 37.0% 3,413 (2) 4.5% 2,495 2,764 6.1% 10.8% Net loans 3,251 2,320 40.2% 3,123 4.1% 2,212 2,487 7.2% 12.4% Total assets 8,858 5,348 65.6% 8,675 2.1% - 5,514 3.1% - Total deposits 6,132 3,821 60.5% 6,076 0.9% 3,513 3,649 (4.5%) 3.9% Total equity 934 666 40.4% 827 13.0% - 836 25.5% - Provisions / gross loans 8.9% 10.9% 8.5% (2) 10.0% Loans / deposits ratio (3) 56.1% 69.0% 57.6% 64.1% Liquid assets / total assets (4) 48.3% 46.8% 47.7% 44.3% NPLs 90 days+ / gross loans (5) 12.1% 10.2% 13.4% 8.9% cash and cash equivalents (less cash on hand and correspondent accounts with the NBK), financial assets at fair value through profit or loss (less derivative financial instruments), amounts due from credit institutions, available-for-sale investment securities, net loans to customers, on consolidated IFRS basis. (2) as at 1 October 2017, loans to customers before allowance for impairment losses include net loans of KKB recognised by the Bank at fair value of KZT781 bn + changes in KKB gross loan portfolio from acquisition date to 30 September 2017 of KZT2 bn. (3) average annual balance of net loans to customers / average annual balance of amounts due to customers, on consolidated IFRS basis. (4) (cash and cash equivalents, the NBK notes, Treasury bills of the Ministry of Finance of Kazakhstan, Treasury bills of governments of other countries, Notes of national banks of other countries, Bonds of quasi-sovereign banks) / total assets, on consolidated IFRS basis. (5) the aggregate Halyk Bank + KKB NPLs 90 days+ (total principal amount of loans and accrued interest with principal and/or interest overdue by more than 90 days) / gross loan portfolio, Banks only. 8

Interest Income KZT bn 332.6 (160.5) Interest Income and Interest Expense 506.3 (257.8) 88.5 154.3 158.5 167.3 (41.7) (86.3) (86.3) (85.6) 2016 2017 4Q 2016 3Q 2017 3Q 2017 pro-forma Interest income Interest expense 8.4% 5.6% 4Q 2017 Net Interest Margin (3) and Net Interest Spread (4) Net Interest Income (2) 44.5% 74.5% 248.5 172.0 46.8 68.0 81.7 2016 2017 4Q 2016 3Q 2017 4Q 2017 Commentary 5.5% 6.3% 4.9% 5.4% 5.3% 5.8% 5.3% 5.4% 4.8% 4.9% Net interest margin decreased to 4.9% p.a. for 12M 2017 compared to 5.5% p.a. for 12M 2016, mainly on the back of lower net interest margin of Kazkommertsbank and reclassification of Altyn Bank s interest earningassets into assets held for sale. Net interest margin remained almost flat at 4.9% p.a. for 4Q 2017 compared to 4.8%p.a. for 3Q 2017 due to the decreasing interest rates on interest-bearing liabilities. Interest income increased by 8.4% in 4Q 2017 vs 3Q 2017 due to 15.7% increase in average balances of interest-earning assets. In 3Q 2017 KKB reversed previously recognised interest income of KZT 4.2 bn accrued at effective interest rate on the problem loans. Net of this reversal, interest income increased by 5.6% in 4Q 2017 vs 3Q 2017. 2016 2017 4Q 2016 3Q 2017 4Q 2017 Net interest margin Net interest spread net of the reversal of interest income by KKB for KZT 4.2 bn, in 3Q 2017 interest income would be KZT 158.5 bn. (2) before impairment charge. (3) net interest income / average interest earning assets (monthly average balances of cash and cash equivalents (less cash on hand and correspondent accounts with the NBK), financial assets at fair value through profit or loss (less derivative financial instruments), amounts due from credit institutions, available-for-sale investment securities, net loans to customers), on consolidated IFRS basis. NIM for the previous periods are calculated taking into account Altyn Bank. (4) average interest rate on interest earning assets, less average interest rate on average interest bearing liabilities, on consolidated IFRS basis. Net Interest Spread for the previous periods are calculated taking into account Altyn Bank. 9

45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000-45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000-45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 - Fee and Commission Income KZT mln Fee and Commission Income 51.9% 86.7% 87,640 Fee and Commission Expense 2.4x 3.7x 26,732 57,697 28,893 28,760 15,405 2016 2017 4Q 2016 3Q 2017 4Q 2017 10,729 11,295 9,922 10,703 5,327 16,003 2,868 4,049 4,040 5,968 1,303 1,565 5,873 6,663 2016 2017 4Q 2016 3Q 2017 4Q 2017 Other fees and commissions expense Deposit insurance fees Breakdown of Selected Fee and Commission Income 2.1x 3.1x 75.4% 2.2x 23,332 18,159 11,116 2,938 8,480 8,979 10,353 3,055 6,400 6,592 2016 2017 4Q 2016 3Q 2017 4Q 2017 Payment cards maintenance 2016 2017 4Q 2016 3Q 2017 4Q 2017 Cash operations 31.2% 41.4% 18,943 14,438 3,767 5,912 5,327 Commentary The y-o-y increase in deposit insurance payable to the Kazakhstan Deposit Insurance Fund in 12M 2017 was mainly due to higher rates for KKB on the back of its lower credit ratings. 2016 2017 4Q 2016 3Q 2017 4Q 2017 Bank transfers settlements 10

140,300 120,300 100,300 80,300 60,300 40,300 20,300 300 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000-0.45 0.4 0.35 0.3 0.25 0.2 0.15 0.1 0.05 0 Operating Costs KZT mln Operating Expenses Cost-to-Income (3) 63.8% 68,559 112,330 4,895 9,692 65.8% 28.1% 29.5% 31.3% 33.7% 26.4% 33.5% 27.3% (2) 564 6,169 23,275 38,551 46,619 51,124 21,494 27,870 1,088 257 2,637 1,890 8,440 13,565 10,907 10,580 Cost-to-Average Assets (4) (5) Commentary 1.6% 1.7% 1.9% 35,524 1,088 2,637 13,565 2016 2017 4Q 2016 3Q 2017 3Q 2017 pro-forma Professional Services Depreciation and amortisation expenses Other Salaries and other employee benefits 18,234 19,400 1.4% 46,216 1,075 3,608 22,133 2.1% 2016 2017 4Q 2016 3Q 2017 4Q 2017 4Q 2017 (2) 46,216 8,581 37,635 4Q 2017 pro-forma regular one-off 244,166 68,559 381,236 137,899 112,330 105,502 68,655 21,494 27,870 46,216 2016 2017 4Q 2016 3Q 2017 4Q 2017 Operating income Operating expense Cost-to-income Operating expenses increased by 65.8% in 4Q 2017 vs. 3Q 2017 due to one-off operating expenses in 4Q 2017 (penalties as a result of KKB s tax audit, charity, depreciation and amortization of IT systems, impairment loss of assets held for sale) amounted to KZT 8,581 mln and reversal of bonus reserves previously accrued by KKB for KZT 7,654 mln in 3Q 2017. Excluding this one-off effect operating expenses increased by 5.9% in 4Q 2017 vs. 3Q 2017 (net of the reversal of bonus reserves previously accrued by KKB) due to incentive bonus payments to employees in 4Q 2017. net of the reversal of bonus reserves previously accrued by KKB, the operating expenses for 3Q 2017 would be KZT35,524 mln, cost to income 33.7%, cost to average assets 1.8%. (2) one-off operating expenses (penalties as a result KKB s tax audit, charity, depreciation and amortization of IT systems, impairment loss of assets held for sale) for 4Q 2017 equaled to KZT 8,581 mln, total operating expenses excluding one-off expenses were KZT 37,635 mln, cost-to-income 27.3%). (3) operating expense (operating expenses, impairment loss of assets held for sale) / operating income (net interest income before impairment charge, net fees and commissions, other noninterest income, less insurance claims incurred, net of reinsurance, and expenses for insurance reserves), annualised, on consolidated IFRS basis. (4) operating expense / average monthly assets, annualised, on consolidated IFRS basis. (5) cost-to-average assets for the previous periods (2016 and 4Q 2016) are calculated taking into account Altyn Bank. 11

Loan Portfolio Total Gross Loans KZT bn 3,413 3,568 290 317 2,604 2,500 2,577 285 280 285 3,123 3,251 2,320 2,220 2,292 Total Gross Loans by Sectors 3,413 3,568 2,604 946 945 2,577 2,500 26% 621 608 628 472 524 15% 343 325 360 1,640 1,567 1,589 1,996 2,099 59% 01.01.2017 01.04.2017 01.07.2017 01.10.2017 01.01.2018 Net loans Provisions Total Net Loans by Currencies 01.01.2017 01.04.2017 01.07.2017 01.10.2017 01.01.2018 Corporate SME Retail Total Gross Loans by Sectors of Halyk cons. excl. KKB and KKB cons. 32.2% 32.6% 31.7% 28.3% 29.7% 67.8% 67.4% 68.3% 71.7% 70.3% 2,577 2,630 2,764 611 628 624 360 329 358 1,589 1,677 1,795 1,736 1,641 436 418 196 228 1,104 995 01.01.2017 01.04.2017 01.07.2017 01.10.2017 01.01.2018 KZT FX 01.07.2017 01.10.2017 01.01.2018 Corporate SME Retail 01.10.2017 01.01.2018 as at 1 October 2017, based on IFRS 3 loans to customers before allowance for impairment losses include net loans of KKB recognised by the Bank at fair value of KZT781 bn + changes in KKB gross loan portfolio from acquisition date to 30 September 2017 of KZT2 bn. 12

0.1 0 0.6 0.14 0.12 0.08 0.06 0.04 0.02 0.58 0.56 0.54 0.52 0.5 0.48 0.46 0.44 0.42 0.4 0.38 0.36 0.34 0.32 0.3 0.28 0.26 0.24 0.22 0.2 0.18 0.16 0.14 0.12 0.1 0.08 0.06 0.04 0.02 0 Cost of Risk at Halyk and KKB KZT bn NPL 90 days+ (2) Dynamics Cost of risk 48.1% KKB, consolidated as at 01.10.2017 as at 01.01.2018 41.9% 5.0% Gross Loan 1,736 1,641 Provisions (950) (876) 834 675 21.1 Provisioning Rate 54.7% 53.4% 0.6% 2.5 Coverage NPL90+ (IFRS) 113.9% 129.8% 01.10.2017 01.01.2018 Amount Ratio 3Q 2017 4Q 2017 Impairment charge on loans to customers Impairment charge, as % of loan portfolio NPL 90 days+ (2) Dynamics Cost of risk Halyk, cons., excl. KKB as at 01.10.2017 as at 01.01.2018 Gross Loan 2,630 2,764 Provisions (293) (277) 10.5% 275 244 8.9% 0.9% 1.5% Provisioning Rate 11.1% 10.0% 5.6 9.9 Coverage NPL90+ (IFRS) 106.7% 113.5% 01.10.2017 01.01.2018 Amount Ratio 3Q 2017 4Q 2017 Impairment charge on loans to customers Impairment charge, as % of loan portfolio impairment charge on loans to customers / monthly average balances of gross loans to customers, annualised. total NPLs 90 days+ (total principal amount of loans and accrued interest with principal and/or interest overdue by more than 90 days) / gross loan portfolio, Bank only, IFRS. 13

350 300 250 200 150 100 50-14.00% 12.00% 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% Cost of Risk on a consolidated basis KZT bn NPL 90 days+ Dynamics Provisioning Rate (2) + Cost of Risk (3) 4.8% 10.2% 256 10.9% 10.2% 262 252 13.4% 456 12.1% 430 10.9% 11.2% 11.1% 8.5% 8.9% 1.0% 25.9 2.2% 1.9% (4) 65.2 55.4 (4) 1.7% 1.1% 7.2 13.0 3.6% (4) 40.8 31.0 (4) 01.01.2017 01.04.2017 01.07.2017 01.10.2017 01.01.2018 Amount Ratio 01.01.2017 01.04.2017 01.07.2017 01.10.2017 01.01.2018 2016 2017 4Q 2016 3Q 2017 4Q 2017 Impairment charge on loans to customers Impairment charge, as % of loan portfolio Provisions on Loans to Customers 285 5 (5) (5) 280 6 (3) (2) 2 283 13 (9) 3 290 41 (20) 6 317 1Q 2017 2Q 2017 3Q 2017 4Q 2017 Provisions 31.12.2016 Additional provisions recognized Write-offs Foreign exchange differences Provisions 31.03.2017 Additional provisions recognized Write-offs Disposal of a subsidary Foreign exchange differences Provisions 30.06.2017 Additional provisions recognized Write-offs Foreign exchange differences Provisions 30.09.2017 Additional provisions recognized Write-offs Foreign exchange differences Provisions 31.12.2017 total NPLs 90 days+ (total principal amount of loans and accrued interest with principal and/or interest overdue by more than 90 days / gross loan portfolio, unconsolidated, (Banks only), IFRS. (2) IFRS provisions/gross loans without IFRS 9 effect. (3) impairment charge on loans to customers / monthly average balances of gross loans to customers, annualised, on consolidated IFRS basis. (4) recoveries of provisions for KZT 9.8 bn. under KKB s loans granted before the acquisition date (included into consolidated FS on a net basis as per IRFS 3) were recognised as other income. Net of this effect, cost of risk for 4Q 2017 would be 3.6%, cost of risk for 12M 2017 would be 1.9%. 14

Funding Base KZT bn Retail Deposits by Currencies Retail Deposits 1,715 1,695 1,738 3,159 3,104 387 412 67.9% 66.5% 61.1% 62.3% 59.3% 245 224 252 2,772 2,692 32.1% 33.5% 38.9% 37.7% 40.7% 1,471 1,471 1,486 01.01.2017 01.04.2017 01.07.2017 01.10.2017 01.01.2018 KZT FX Deposits of Legal Entities by Currencies 01.01.2017 01.04.2017 01.07.2017 01.10.2017 01.01.2018 Term Deposits Current Accounts Deposits of Legal Entities 2,105 1,922 2,143 2,917 3,028 63.2% 53.3% 54.4% 47.9% 51.7% 1,339 1,322 838 774 1,057 36.8% 46.7% 45.6% 52.1% 48.3% 1,268 1,149 1,086 1,578 1,706 01.01.2017 01.04.2017 01.07.2017 01.10.2017 01.01.2018 KZT FX 01.01.2017 01.04.2017 01.07.2017 01.10.2017 01.01.2018 Term Deposits Current Accounts 15

Solid Capital Position Capital Adequacy Ratios, consolidated Capital Adequacy Ratios of Halyk and KKB, Banks only 19.4% 21.5% 21.6% 17.8% 18.9% 15.8% 15.4% 16.9% 19.2% k2 minimum = 12% k1-2 minimum = 10.5% k1 minimum = 9.5% 21.3% 22.1% 12.5% 10.0% 26.9% 20.2% 21.5% 21.4% 20.1% 19.9% 15.0% 10.3% 01.01.2017 01.04.2017 01.07.2017 01.10.2017 01.01.2018 CET Tier 1 Tier 2 01.01.2017 01.04.2017 01.07.2017 01.10.2017 01.01.2018 k1 - Halyk k1-2 - Halyk k2 - Halyk k1-2 - KKB k2 - KKB KZT bn Capital Structure, consolidated (2) Capital Structure, Halyk Bank only (2) 1,019 922 109 107 641 686 733-641 686 733 815 910 599 639 689 726 769 599 639 689 726 769 01.01.2017 01.04.2017 01.07.2017 01.10.2017 01.01.2018 Tier 1 Tier 2 01.01.2017 01.04.2017 01.07.2017 01.10.2017 01.01.2018 Tier 1 Tier 2 KKB s perpetual bonds for USD 100 mln were fully redeemed on 9 February 2018 out of KKB s own funds In order to improve the quality of capital, on 16 February 2018 the Extraordinary General Meeting of Shareholders of KKB has approved the conversion of preferred shares into common shares starting from 1 January 2016, the Bank calculates its capital (both consolidated and unconsolidated) taking into an account the principals, methods and coefficients employed by Basel III Committee. (2) almost the entire capital is a high quality core capital as a result of limited use of Tier 2 instruments. 16

Annual General Shareholders Meeting Date April 20, 2018 Time & Venue 11.00 a.m. Almaty time, Conference Hall, 40, Al Farabi Ave., Almaty, Kazakhstan Record Date March 20, 2018 Voting for GDR Holders Via Depositary Bank procedures please see the agenda of the Annual General Shareholders Meeting of JSC Halyk Bank on the corporate website of the Bank: https://halykbank.kz/presscenter/novosti/o_provedenii_godovogo_sobraniya 17

Outlook for 2018 Actual 2016 Actual 2017 Guidance for 2018 incl. KKB, area of Net loan portfolio growth 6.6% 40.2% 10% Consolidated net income (KZT bn) 131.4 173.4 200 Cost of risk (2), p.a. 1.0% 2.2% 1.2% Cost-to-income ratio 28.5% 29.5% 32% NIM, p.a. 5.5% 4.9% 5% RoAE, p.a. 22.3% 22.7% 21% financial indicators for 12M 2016 are calculated taking into account Altyn Bank. (2) impairment charge on loans to customers / monthly average balances of gross loans to customers, on consolidated IFRS basis. 18

Two KKB 19

KKB: Merger with Halyk Overview Integration Strategic review Advisers were hired to help develop business and IT strategy for the enlarged Halyk Group Strategy review was finalised in December 2017 On 15 December 2017 Board of Directors has approved the merger of KKB into Halyk Bank IT Full integration on common operating model and single technology platform targeted by 2H 2018 Timeline H1 2018 EGM approval, other corporate and regulatory procedures H2 2018 closing of legal merger Products and services ATM networks unification A number of joint projects in card business Product and service standards unification 20

KKB: Merger Synergies Strengthened market position in Kazakhstan and in the region One of the top banks in CIS better positioned to compete in the context of the Eurasian economic integration Extended regional presence (subsidiaries of Halyk in Georgia, Kyrgyzstan and Russia, and subsidiaries of KKB in Russia and Tajikistan) More convenient solutions and affordable services for customers with leading digital proposition Access to wider network of branches, ATMs and POS terminals KKB s attractive franchise in retail, SME, payments and acquiring KKB s retail technologies and know-how, including homebank.kz, a leading internet bank in Kazakhstan with 1.8m users Commercial benefits Enlarged corporate client and retail customer base Strong fee and commission business of KKB Expanded products and services in banking, insurance, brokerage and asset management Cost and funding synergies Removal of duplicate functions and IT systems Optimisation in marketing, procurement operations Branch rationalisaton Funding synergies Effective internal control and risk management systems Proven credit underwriting and risk management practiced by Halyk to be applied to KKB s operations 21

Three BUSINESS UPDATE 22

Group Structure Structure % share of ownership of Halyk Halyk Bank 100.0% Altyn Bank (SB of Halyk Bank) 74.7% JSC Kazkommertsbank (Kazakhstan) Halyk-leasing (leasing) 100.0% 100.0% NBK-Bank (Russia) 100% JSC Kazkommerts Life (Kazakhstan) 99.97% JSC Kazkommerts-Polis (Kazakhstan) Kazteleport (telecommunications) 100.0% 100.0% Halyk Bank (Kyrgyzstan) 100% CB Moskommertsbank (Russia) 100% CJSC Kazkommertsbank Tajikistan (Tajikistan) Halyk-Life (life insurance) 100.0% 100.0% Halyk Bank (Georgia) 100% LLP KUSA KKB-1/2/3 (Management of doubtful and bad assets) 100% JSC Kazkommerts Securities (Kazakhstan) Halyk Collection (cash collection services) 100.0% 100.0% Halyk Finance (brokerage and asset management) 100.0% Halyk Project (distressed asset management) Majority-owned subsidiaries As at 01.01.2018 23

Banking Business and Asset Management Subsidiaries Commercial banking Strategic presence in neighboring countries Altyn Bank Acquired HSBC Bank Kazakhstan in 2014 Rebranded into Altyn Bank Strong partnership with private companies and individuals Profitable and innovative bank with digital platform Moskommertsbank + NBK-Bank Russia #147 (Moskommertsbank) and #263 (NBK- Bank) by assets out of 561 banks in Russia BoD of Halyk approved voluntary reorganisation of NBK-Bank in the form of its merger into Moskommertsbank Merger is pending subject to customary regulatory approvals Pending acquisition by China CITIC Bank Ba2/stable (Moody s) Merged bank is expected to become #130 in Russia BB/watch positive (Fitch) Investment banking and asset management Halyk Bank Georgia Georgia #10 bank by assets out of 16 banks in Georgia BB-/stable (Fitch) Halyk Finance Provides full range of investment banking and asset management services #2 by assets Halyk Bank Kyrgyzstan #12 bank by assets out of 21 banks in Kyrgyzstan BB/stable (Fitch) Kyrgyzstan Kazkommerts Securities Provides full range of investment banking and asset management services #3 by assets Kazkommertsbank Tajikistan Tajikistan #6 bank by assets out of 18 banks in Tajikistan as at 01.01.2018 24

Insurance Business Structure of the business Market position Market share + #1 50.3% + * #2 21.2% (2) (KZT bn) Gross written premiums Source: Halyk Group on a consolidated basis, NBK * BoD of Halyk approved voluntary reorganisation of Kazakhinstrakh in the form of merger of Kazkommerts-Policy into Kazakhinstrakh. The merger is expected to complete in 3Q 2018 (KZT bn) Underwriting result 28.8% 96.4% 39 47 59 76 21 26 28 55 01.01.2015 01.01.2016 01.01.2017 01.01.2018 01.01.2015 01.01.2016 01.01.2017 01.01.2018 based on FY 2017 insurance premiums received. (2) including Halyk Life and KKB Life of 5.1%. 25

70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% 50.0% 45.0% 40.0% 35.0% 30.0% 25.0% 20.0% 15.0% 10.0% 50.0% 45.0% 40.0% 35.0% 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% 5.0% 0.0% 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% 49.0% 44.0% 39.0% 34.0% 29.0% 24.0% 19.0% 14.0% 9.0% 50.0% 45.0% 40.0% 35.0% 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% 50.0% 45.0% 40.0% 35.0% 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% 50.0% 45.0% 40.0% 35.0% 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% 50.0% 45.0% 40.0% 35.0% 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% 50.0% 45.0% 40.0% 35.0% 30.0% 25.0% 20.0% 15.0% 10.0% Halyk Bank + KKB s Market Position Net Income Net Interest Income (2) Net F&C Income Equity (3) 56.8% 49.0% 52.9% 48.7% 28.3% 30.0% 26.3% 36.9% 32.2% 23.5% 33.3% 35.3% #1 #1 #1 #2 #1 #1 #2 #1 #2 #1 #2 #2 #2 #1 #1 #1 12M 2015 12M 2016 12M 2017 12М 2015 12М 2016 12М 2017 12М 2015 12М 2016 12М 2017 01.07.2017 01.10.2017 01.01.2018 Total Assets Gross Loans Net Loans Total Deposits (4) 33.7% 35.2% 18.7% 15.4% 31.3% 28.2% 27.2% 23.1% 15.3% #2 #1 #1 #2 #2 #1 #2 #2 #1 #2 01.07.2017 01.10.2017 01.01.2018 01.07.2017 01.10.2017 01.01.2018 01.07.2017 01.10.2017 01.01.2018 35.3% 37.3% 20.5% #1 #1 01.07.2017 01.10.2017 01.01.2018 Total Corporate Deposits (4) Total Retail Deposits (5) Corporate Current Accounts Retail Current Accounts 33.4% 37.7% 37.4% 36.9% 34.4% 39.2% 47.8% 47.3% 20.3% 20.8% 23.5% 30.9% #2 #1 #1 #1 #1 #1 #2 #1 #1 #1 #1 #1 #1 #1 01.07.2017 01.10.2017 01.01.2018 01.07.2017 01.10.2017 01.01.2018 01.07.2017 01.10.2017 01.01.2018 01.07.2017 01.10.2017 01.01.2018 excl. banks with negative income. (2) after impairment charge, excl. negative net interest income. (3) excl. banks with negative equity. (4) excl. term deposits of SAPF; consists of term deposits and current accounts. (5) consists of term deposits and current accounts. Source: NBK (unconsolidated, KAS), Halyk Bank, SAPF. 26

Four Kazakhstan: Economic and Banking Sector Update 27

Macro Update: Strong Pickup in Activity in 2017 Macro recovery in 2017 Investment grade sovereign ratings 4.2% 4.0% Agency Rating Outlook Date 221.4 184.4 1.1% 159.5 1.2% 137.3 39.7 40.9 47.0 52.0 2014 2015 2016 2017 Nominal GDP (US$bn) Nominal GDP (KZTtrn) Real GDP Growth Moody's Baa3 stable 26.07.2017 S&P BBB- stable 18.01.2018 Fitch BBB stable 20.10.2017 Source: The National Bank of Kazakhstan (NBK) Stable low unemployment Source: The National Bank of Kazakhstan (NBK) Pick up in industrial production and investments 14.6% 3.9% 3.7% 5.1% 5.5% 7.1% 6.7% 7.4% 6.5% 5.0% 5.0% 5.2% 5.0% 0.2% (1.6)% (1.1)% 2014 2015 2016 2017 Inflation (average) Unemployment Rate (average) 01.01.2015 01.01.2016 01.01.2017 01.01.2018 Capital Investments (Y-o-Y growth) Industrial production (Y-o-Y growth) Source: The National Bank of Kazakhstan (NBK) Source: The National Bank of Kazakhstan (NBK) 28

02.02.2016 06.05.2016 12.07.2016 04.10.2016 15.11.2016 21.02.2017 06.06.2017 22.08.2017 10.10.2017 28.11.2017 16.01.2018 06.03.2018* Macro update: Improving Financial Conditions Kazakh Tenge stabilised after oil price shock Government debt 59 54 49 57 64 67 28.8 26.6 34.3 40.6 333 314 322 341 331 332 13.0% 14.4% 25.0% 25.5% 01.01.2017 01.04.2017 01.07.2017 01.10.2017 01.12.2017 01.01.2018 USD/KZT Exchange rate Brent Oil Price 01.01.2015 01.01.2016 01.01.2017 01.10.2017 Government debt (US$bn) Government debt/gdp Source: The National Bank of Kazakhstan (NBK) Interest rate normalisation Source: The National Bank of Kazakhstan (NBK) Stable FX reserves 17.0% 15.0% 13.0% 12.5% 12.0% 11.0% 10.5% 10.25% 9.75% 9.5% 101.5 28.3 90.5 90.7 89.0 27.0 29.5 30.7 73.2 63.5 61.2 58.3 * the next base rate committee 16.04.2018 Base rate Source: The National Bank of Kazakhstan (NBK) 2014 2015 2016 2017 Oil Fund FX Reserves (US$bn) NBK FX Reserves (US$bn) Total Source: The National Bank of Kazakhstan (NBK) 29

De-dollarisation and Return to Growth Driven by Retail Lending Loan growth restarted in 2017 Deposit growth remains subdued 12.9% 4.5% 0.2% 7.2% 1.0% (3.8)% 01.01.2015 01.01.2016 01.01.2017 01.01.2018 Total loans Retail loans Corporate loans 01.01.2015 01.01.2016 01.01.2017 01.01.2018 Deposits Retail deposits Corporate deposits Note: excludes Delta Bank and RBK bank Source: The National Bank of Kazakhstan (NBK) FX lending ~1/4 of total Note: excludes Delta Bank and RBK bank Source: The National Bank of Kazakhstan (NBK) Declining share of FX deposits in the banking system FX 26.3% By currency Retail loans 35.7% By sector Other 14.8% Communicati on services 0.8% Transport 4.5% Agriculture 5.5% 27.6% 2016 2017 FX 54.5% FX 47.7% 26.9% 23% 24% KZT 73.7% Trading 15.9% Total: KZT 12.7 tn Industry 15.6% Construction 7.2% 16.5% 22% 30% 29.1% KZT 45.5% KZT 52.3% Total: KZT 18.0 tn Total: KZT 17.5 tn Retail FX Retail KZT Corporate KZT Corporate FX as at 1-Jan-2018 Source: The National Bank of Kazakhstan (NBK) as at 1-Jan-2018 Source: The National Bank of Kazakhstan (NBK) 30

Improving Sector Funding Structure and Capital Adequacy Improving funding structure NPL levels dynamics 94.3% 80.3% 68.9% 23.5% 14.7 15.6 17.3 16.7 13.9 11.5 3,340 8.0% 6.7% 9.3% 1,237 1,042 1,265 2015 2016 2017 Net Loans (KZTtrn) Customer Deposits (KZTtrn) Loans/Deposits Source: NBK statistical bulletin Steady capital build-up 2014 2015 2016 2017 NPLs (90 days+), KZTbn NPL Ratio (90 days+) Source: NBK statistical bulletin RoE (2) 2,623 3,063 3,229 3,825 17.2% 13.2% 9.6% 15.2% 16.8% 11.0% 12.5% 13.7% 2014 2015 2016 2017 Regulatory Capital ( KZTbn) 2014 2015 2016 2017 RoE Banking Sector core capital adequacy ratio, local standards Source: NBK statistical bulletin ROE ratio based on aggregated financials for banking sector, post tax (2) adjusted for KKB result in 2017 Source: NBK statistical bulletin 31

Five Q & A session 32

APPENDIX 33

P&L Summary KZT mln Dynamics 12M 2017 12M 2016 Y-o-Y, % 4Q 2017 3Q 2017 Q-o-Q, % 4Q 2016 Y-o-Y, % Interest income 506,328 332,563 52.3% 167,276 154,347 8.4% 88,517 89.0% Interest expense (257,805) (160,549) 60.6% (85,569) (86,314) (0.9%) (41,705) 2.1x Net interest income before impairment charge 248,523 172,014 44.5% 81,707 68,033 20.1% 46,812 74.5% Fee and commission income 87,640 57,697 51.9% 28,760 28,893 (0.5%) 15,405 86.7% Fee and commission expense (26,732) (11,295) 2.4x (10,703) (9,922) 7.9% (2,868) 3.7x Net fee and commission income 60,908 46,402 31.3% 18,057 18,971 (4.8%) 12,537 44.0% Insurance income 6,493 3,272 98.4% 2,933 2,358 24.4% 1,373 2.1x Other non-interest income (2) 51,156 14,905 3.4x 29,518 13,102 2.3x 5,739 5.1x Impairment charge and reserves (3) (65,565) (25,352) 2.6x (41,874) (13,171) 3.2x (6,707) 6.2x Operating expenses (112,330) (68,559) 63.8% (46,216) (27,870) 65.8% (21,494) 2.2x Income tax expense (25,598) (22,183) 15.4% (8,167) (7,524) 8.5% (5,726) 42.6% Net Profit from continuing operations 163,587 120,499 35.8% 35,958 53,899 (33.3%) 32,534 10.5% Minority interest in net income (101) - 100% (51) (50) 2.0% - 100% Profit for the period from discontinued operations 9,876 10,913 (9.5%) 2,134 2,590 (17.6%) 4,877 (56.2%) Net Profit 173,362 131,412 31.9% 38,041 56,439 (32.6%) 37,411 1.7% insurance underwriting income (gross insurance premiums written, net change in unearned insurance premiums, ceded reinsurance share) less insurance claims incurred, net of reinsurance (insurance payments, insurance reserves expenses, commissions to agents). (2) other non-interest income, net gain on foreign exchange operations, net gain from financial assets and liabilities at fair value through profit or loss and net realised gain/(loss) from available-for-sale investment securities. (3) total impairment charge, including impairment charge on loans to customers, amounts due from credit institutions, available-for-sale investment securities and other assets, as well as provisions against letters of credit and guarantees issued. 34

Balance Sheet Summary KZT mln 31-Dec-17 31-Dec-16 Change YTD, % Total assets 8,857,781 5,348,483 65.6% Cash and reserves 1,891,587 1,850,641 2.2% Amounts due from credit institutions 87,736 35,542 2.5x T-bills & NBK Notes 1,878,870 586,982 3.2x Other securities & derivatives 831,531 341,379 2.4x Gross loan portfolio 3,568,263 2,604,335 37.0% Stock of provisions (317,161) (284,752) 11.4% Net loan portfolio 3,251,102 2,319,583 40.2% Other assets 364,550 204,059 78.6% Assets classified as held-for-sale 552,405 10,297 53.6x Total liabilities 7,923,324 4,682,890 69.2% Total deposits, including: 6,131,750 3,820,662 60.5% retail deposits 3,104,249 1,715,448 81.0% term deposits 2,691,886 1,470,536 83.1% current accounts 412,363 244,912 68.4% corporate deposits 3,027,501 2,105,214 43.8% term deposits 1,705,971 1,267,589 34.6% current accounts 1,321,530 837,625 57.8% Debt securities 962,396 584,933 64.5% Amounts due to credit institutions 255,151 162,134 57.4% Other liabilities 239,400 115,161 2.1x Liabilities directly associated with assets classified as held for sale 334,627-100% Equity 934,457 665,593 40.4% 35

Key Financial Indicators 31-Dec-17 30-Sep-17 30-Jun-17 (7) 31-Mar-17 (7) Amounts due to customers / total liabilities 77.4% 77.4% 85.8% 80.5% Loans / deposits ratio 53.0% 51.4% 59.1% 61.4% Liquid assets / total assets (2) 48.3% 47.7% 46.6% 47.5% IFRS Provisioning rate (3) 8.9% 8.5% 11.1% 11.2% Coverage NPL90+ (IFRS) (4) 73.7% 63.7% 108.5% 102.6% Common Equity Tier 1 capital adequacy ratio (5) 16.9% 15.4% 21.6% 21.5% Tier 1 capital adequacy ratio (5) 16.9% 15.8% 21.6% 21.5% Tier 2 capital adequacy ratio (5) 18.9% 17.8% 21.6% 21.5% k1 capital adequacy ratio (6) 21.5% 20.2% 22.1% 21.3% k1-2 capital adequacy ratio (6) 21.5% 20.2% 22.1% 21.3% k2 capital adequacy ratio (6) 21.4% 20.1% 22.1% 21.3% net loans to customers / amounts due to customers, on consolidated IFRS basis. (2) (cash and cash equivalents, the NBK notes, Treasury bills of the Ministry of Finance of Kazakhstan, Treasury bills of governments of other countries, Notes of national banks of other countries, Bonds of quasi-sovereign banks) / total assets, on consolidated IFRS basis. (3) allowance for loan impairment / gross loan portfolio, on consolidated IFRS basis. (4) as at 01.01.2018, coverage ratio of KKB 129.8% (5) consolidated. (6) Bank only. (7) financial indicators are calculated taking into account Altyn Bank. 36

Key Financial Indicators (continued) Halyk Bank + KKB Halyk Bank only 31-Dec-2017 30-Sep-17 30-Jun-17 31-Mar-17 31-Dec-16 Number of branches and outlets 699 719 504 506 509 Number of ATMs 4,594 4,599 2,367 2,368 2,364 Number of POS-terminals 74,602 72,747 23,455 23,657 23,937 Information and transaction terminals (multiservice kiosks) 360 397 408 431 461 Payment terminals 1,151 1,082 576 577 577 Clients of internet banking, individuals 2,960,989 2,688,324 1,045,138 980,854 918,210 Clients of internet banking, legal entities 93,384 81,603 16,170 15,824 15,065 SMS banking clients 2,895,291 2,861,603 1,912,326 1,811,636 1,746,655 Telebanking clients 196,756 179,613 163,018 155,510 147,487 Payment card holders 8,734,594 8,590,537 5,619,107 5,508,576 5,461,886 Payroll project clients (legal entities) 43,873 44,631 22,996 23,165 23,001 4Q 2017 3Q 2017 2Q 2017 (2) 1Q 2017 (2) 4Q 2016 (2) Cost-to-income 33.5% 26.4% 29.4% 27.1% 30.5% Return on average common shareholders equity (RoAE) 18.0% 28.6% 22.1% 22.4% 23.1% Return on average assets (RoAA) 1.8% 2.9% 3.1% 3.0% 3.0% Net interest margin 4.9% 4.8% 5.7% 5.2% 5.3% Operating expenses / average total assets 2.1% 1.4% 1.7% 1.5% 1.9% operating expense / operating income (net interest income before impairment charge, net fees and commissions, other non-interest income, less insurance claims incurred, net of reinsurance, and expenses for insurance reserves), on consolidated IFRS basis. (2) financial indicators (cost-to-income, RoAE, RoAA, NIM, Cost / Average Assets Ratio) are calculated taking into account Altyn Bank. 37