Dear shareholders, customers, partners, colleagues and prospective investors!

2025 was a year of major strategic changes for Otbasy Bank JSC, strengthening its position in Kazakhstan’s financial system and laying a solid foundation for further sustainable development. For the Board of Directors, this period involved not only assessing the results achieved, but, above all, ensuring the Bank’s long-term financial resilience, improving its corporate governance framework and overseeing key strategic transformations.

One of the most significant events of the reporting year was Otbasy Bank’s transformation into a national development institution. The granting of this new status represented recognition of the Bank’s special role in implementing the state housing policy and, at the same time, marked a new level of responsibility for management effectiveness, financial resilience and transparency.

The Board of Directors focused on long-term strategy, risk management, capital adequacy, digital transformation, human capital development and improved corporate governance. We believe that these areas determine the Bank’s ability to remain resilient in a changing economic environment and create long-term value for all stakeholders.

During the year, particular attention was paid to implementing the Bank’s strategy, developing the internal control system, enhancing risk management and maintaining high standards of business ethics. Information security, technological resilience and the quality of management decision-making remained priorities. Today, these factors underpin the resilience of any modern financial institution.

The Bank’s financial results for 2025 confirm the effectiveness of its chosen strategy and its ability to maintain a strong market position. At year-end, housing lending reached KZT 1.6 trillion, the Bank’s share of the housing lending market stood at 58%, and its loan portfolio grew to KZT 4,050 billion. Otbasy Bank retained its position as one of the country’s largest banks, ranking fourth by assets and fifth by equity among Kazakhstan’s second-tier banks. These figures demonstrate the effectiveness of the Bank’s business model and its ability to deliver sustainable growth.

Customer trust remains an equally important indicator. In 2025, more than one million new deposit accounts were opened with the Bank, the highest figure in Otbasy Bank’s history. For the Board of Directors, this result confirms the Bank’s reliability, the stability of its funding base and the effectiveness of its development strategy.

The Board of Directors consistently supports the Bank’s development as a modern financial institution that combines the fulfilment of its social mission with international best practices in corporate governance. Government housing programmes, process digitalisation and the development of new services are viewed not as standalone projects, but as elements of a single strategy aimed at improving citizens’ quality of life, strengthening the Bank’s financial resilience and increasing its operational efficiency.

Oversight of sustainable development remains an important component of the Board’s work. We regard ESG principles as an integral part of the Bank’s strategy, with a direct impact on the quality of corporate governance, access to capital markets, investor confidence and long-term competitiveness. The affirmation of the Bank’s international credit ratings by Moody’s Investors Service (Baa1, Stable) and Fitch Ratings (BBB, Stable) underscores the Bank’s strong financial resilience and the quality of its governance framework.

Otbasy Bank has now entered a new stage of its development. The financial sector is undergoing far-reaching changes driven by digitalisation, the development of artificial intelligence, evolving customer expectations and more stringent corporate governance requirements. The Board of Directors views these changes not as a challenge, but as an opportunity to advance the Bank’s development, improve its efficiency and strengthen its leadership position.

In the coming years, the Board’s priorities will remain the further improvement of corporate governance, greater transparency in information disclosure, a stronger risk management system, the development of digital technologies and the Bank’s long-term financial resilience. These areas form the foundation for steady growth in the Bank’s value and stronger trust among all stakeholders.

On behalf of the Board of Directors, I would like to express my sincere gratitude to the Bank’s Management Board, employees, customers, government authorities, partners and shareholder for their professionalism, responsibility and trust. Through our joint efforts, the Bank continues to strengthen its position as a reliable financial institution that successfully fulfils its social mission and contributes to the sustainable development of Kazakhstan’s economy.

I am confident that the solid foundation built over the Bank’s years of operation, its effective corporate governance framework and consistent execution of its strategy will enable Otbasy Bank to remain Kazakhstan’s leader in housing finance and continue creating long-term value for society, the state and prospective shareholders.