PENSION FUND

The earlier you start your pension saving, the easier you build a base toenjoy your future wellbeing and serenity of coming frosty years

OUR SHAREHOLDER

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PENSION FUND

The National Bank of the Republic of Kazakhstan is the central bank andrepresents the upper (first) tier of the banking system.

National Bank of the Republic of Kazakhstan

As of September 01, 2012

The BOARD OF DIRECTORS OF GNPF

CHAIRMAN OF THE BOARD OF DIRECTORS MEMBERS OF THE BOARD OF DIRECTORS

Gulzhan S. Amangeldinova

The National Bank of the

Dolores T. Medeusheyeva

Chairman of the Board, "GNPF" APF" JSC

Yuriy V. Gerassimenko

Advisor of the Chairman, the Board of the National Bank

PENSION FUND

The National Bank of the Republic of

Kazakhstan

Deputy Chairman

Alfiya R. Iilyassova

Risk Manager of Risk Management Service of KASE

The National Bank of the Republic of Kazakhstan

Legal DepartmentHead of the Treaty and law

division

INDEPENDENT DIRECTORSDina T. Galiyeva

As of September 01, 2012

"GNPF" APF" JSCBoard of the National Bank of the Republic of

Kazakhstan

Kulbanu S. Mussayeva

General Director, "The Fundfor Insurance Indemnification

Guarantee" JSC

GEOGRAPHY OF GNPF

18 Branch offices in all regional centers and in the cities of Astana and Almaty

11 Additional customer service areas

119 Service centers 2 Centers for personal service in the cities of Astana and Almaty

As of September 01, 2012PENSION FUND

GNPF` MARKET SHARE OF TOTAL PENSION ASSETS OF THE SYSTEM

thousand KZT

CONFIDENCE OF CONTRIBUTORS

Other APF2 411 134 999

80.79%

GNPF APF JSC573 292 761

19,21%

NUMBER OF GNPF` CONTRIBUTORS*

PENSION FUND

As of September 01, 2012.

Source the Committee of control and supervision on financial market and financial organizations of NB RK

*This information shows number of individual pensionaccounts of GNPF' contributors of compulsory pensioncontributions

GNPF NET INVESTMENT INCOME GROWTH

68.2 76.095.4

115.8135.3

155.8

September 01, 2007

September 01, 2008

September 01, 2009

September 01, 2010

September 01, 2011

September 01, 2012

68.2

PENSION FUND

INVESTMENT PORTFOLIO OF GNPF STRUCTURE (MODERATE PORTFOLIO)

Assets allocation by financial instruments in GNPF moderate portfolio as of 01.09.2012

IFO securities1.90%

Government securities of RK

42.03%

Deposits in Kazahstani banks

18.36%

Refined precious metals6.72%

REPO, CASH and other assets

3.38%

PENSION FUND

42.03%

Foreign government securities

6.74%Kazakhstani companies'shares

0.91%

Foreign companies'shares

1.05%

Bonds of Kazakhstani companies or guaranteed by Kazakhstani companies

15.29%

Bonds of Foreign companies

3.62%

INVESTMENT PORTFOLIO OF GNPF STRUCTURE (CONSERVATIVE PORTFOLIO)

Assets allocation by financial instruments in GNPF moderate portfolio as of 01.09.2012Deposits in

Kazakhstani banks21.05%

REPO, CASH and other assets

9.32%

PENSION FUND

Government securities of RK

69.63%

Benefits for GNPF contributors

O

U

R

P

A

R

T

N

E

R

S

:

GNPF regional branch offices signed more than 690 contracts of cooperation with trading and service companies for additional services for GNPF contributors

As of September 01, 2012

G

R

E

A

T

D

E

A

L

S

F

R

O

M

O

U

R

PENSION FUND

GNPF H ADVANTAGES

The first pension fund GNPF is a flagman of the pension reform being ofparticular social importance in the history of independent Kazakhstan.

Financial stability main factor of financial stability is the Funds shareholder

PENSION FUND

Financial stability main factor of financial stability is the Funds shareholder the National Bank of RK.

Professionalism Highly qualified specialists with large experience on thefinancial market are in the Funds Board of Directors and the Board.

GNPF H ADVANTAGES

Weighted investment policy return in 2011 came to 4.14%. Net investmentincome on September 01, 2012 amounted to KZT 155.8 bln.

PENSION FUND

Service GNPF keeps working on progress of service quality, looking for newways and improving existing methods.

Benefits for contributors from GNPFs partners Partners of GNPF givespecial discounts to the Funds contributors.

EXAMPLE OF PENSION ACCUMULATIONS CALCULATION:

Monthly earning

100 000

Pension accumulations

Male, 28 years, 2012 retires at 63 in 2047

Pension accumulations

13 433 120

including investment income

Approx calculation of pension amount at retirement of GNPF contributor.*

PENSION FUND

Pension accumulations

Pension contributions

1 000 000

10 000

including investment income

8 243 120

net accumulations (less investment income)

5 190 000

Monthly pension benefit KZT 117 170* At the Funds return of 4.14%

EXAMPLE OF PENSION ACCUMULATIONS CALCULATION:

Monthly earnings

100 000

Pension accumulations

Female, 28 years, 2012 retires at 58 in 2042

Pension accumulations

10 520 546

including investment income

Approx calculation of pension amount at retirement of GNPF contributor.*

PENSION FUND

Pension accumulations

Pension contributions

1000 000

10 000

including investment income

5 930 546

net accumulations (less investment income)

4 590 000

Monthly pension benefit KZT 82 595* At the Funds return of 4.14%

OUR SERVICES:

You can get additional information in any office of GNPF or by calling to our consulting service:

PENSION FUND

Free on territory of KazakhstanFree on territory of Kazakhstan

Thank you for attention

PENSION FUND

www.gnpf.kz