OREANDA-NEWS. August 27, 2012.

OPERATIONAL HIGHLIGHTS

• Copper production in line with full year target

o Copper cathode from own concentrate of 135 kt for first half of the year o By-product output on track for annual targets

• Increase in demand for power from the domestic market

o 10% increase in power generated at Ekibastuz GRES-1 to 7,057 GWh

o 8% rise in average realised tariff at Ekibastuz GRES-1

GROWTH PROJECTS

• Continued good progress with growth project pipeline

o Development at Bozshakol on schedule and economics improved o Long lead items ordered for Aktogay

• Ekibastuz GRES-1 USD 1 billion rehabilitation continues ahead of schedule

o Commissioning of new unit already underway

FINANCIAL HIGHLIGHTS

• Performance affected by lower metals prices and cost pressures

o Group EBITDA (excluding special items) of USD 949 million

o Impacted by temporary build up of copper inventory due to logistics issues in June

o Net debt of USD 418 million

o Strong cash position backed by long dated debt facilities

• Net cash costs of 171 US cents per pound - in line with guidance

o Impacted by reduced sales volumes and cost inflation

RETURNS TO SHAREHOLDERS

• Completion of share buy-back of USD 165 million in May 2012

o 2.2% of issued share capital purchased

• Interim dividend declared of 3.0 US cents per share

o Total returned to shareholders of USD 1,733 million since Listing

OUTLOOK

Positive outlook for copper underpinned by good demand from customers

Copper production on track to meet full year target of between 285 and 295 kt

o Input cost pressures should ease in the remainder of 2012

Sound balance sheet with long term funding for growth projects

o Feasibility study to be completed for Aktogay by the end of 2012 o Complete key construction phase at Bozshakol o First output from Bozymchak expected in 2013

Commissioning of new unit at Ekibastuz GRES-1 in second half of 2012

o 20% increase in generating capacity o Strong power demand and tariff curve to persist

USD million (unless otherwise stated)

Six months ended 30 June 2012

Six months ended 30 June 2011

Revenues

1,516

1,817

Earnings:

Group EBITDA (excluding special items) 1

949

1,608

Segmental EBITDA (excluding special items) 1

621

1,065

Profit before taxation from continuing operations

178

1,0042

Underlying Profit

307

866

EPS:

Basic and diluted (USD )

0.23

0.70

Based on Underlying Profit 3 (USD )

0.58

1.62

Free Cash Flow 4

(129)

554

Cash cost of copper after by-product credits 5 (USc/lb)

171

93

Reconciliation of Group and Segmental EBITDA (excluding special items) to operating profit is found in note 5(a)(ii). The most significant special item for the period ended 30 June 2012 is an impairment charge of USD 162 million recognised in respect of the Bozymchak project.

Kazakhmys Petroleum was sold in December 2011 so for the period ended 30 June 2011 the business has been reclassified as a discontinued operation.

Reconciliation of EPS based on Underlying Profit is found in note 10(b).

Net cash flows from operating activities less sustaining capital expenditure on tangible and intangible assets.

Cash operating costs excluding MET and purchased concentrate less by-product revenues, divided by the volume of copper cathode equivalent sales.

Oleg Novachuk, Chief Executive of Kazakhmys PLC, said: “We are pleased to report another six months of solid operational performance. Following disruptions caused by adverse weather conditions at the beginning of the year, we raised output towards the end of the first half, allowing us to maintain our copper production target range for 2012 of between 285 and 295 kt. Cost control remains a significant challenge and focus for management. Uncertainty prevails in the global markets, but we are encouraged by the continuing demand from our customers. With the growth projects moving closer to production and a sound balance sheet, the longer term outlook also remains positive.”