Kazakhstan Kagazy PLC ("the Company") announces that Poul Bech has stepped down as CFO. In the interim and until a new permanent Group CFO is appointed, Vitaliy Podolskiy has agreed to take over as Acting Group CFO. Vitaliy will remain a member of the Company's Board of Directors and Chairman of its Audit Committee.

Vitaliy has a wealth of executive and professional experience, having previously worked for over six years as Group CFO of X5 Retail Group N.V., Russia's largest retail chain. While in this position he was awarded 'Best Retail CFO' by the Russian Management Association for five consecutive years. Vitaliy has also held senior executive positions at companies including AT Kearney and Bankers Trust in New York, Ford Motors in Germany and Euroset in Russia

The Company thanks Poul for his brief but strong contribution during his time as CFO, and wishes him continued success in his professional career.

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