14 March 2025  

Resumption of Share and GDR Repurchase Programme

Almaty, Kazakhstan - Air Astana JSC (the "Company" and, together with its subsidiary FlyArystan, the "Group") announces that, pursuant to the decision of the Board of Directors of the Company taken on 13 March 2025, it will resume its buyback programme to purchase ordinary shares of the Company ("Shares") and global depositary receipts representing Shares ("GDRs") (the "Programme"). 

As earlier, the purpose of the Programme is to meet the Company's obligations under its long-term employee incentive programmes. Over the next two years, the Company intends to purchase up to 1,706,408 Shares (in the form of Shares and/or GDRs), which currently constitutes approximately 0.7% of the total number of placed Shares of the Company (including the shares previously repurchased in 2024 (and further distributed to employees as intended) and including those represented by GDRs), for a maximum consideration of up to USD 5 million (including ancillary costs). This part of the Programme will commence on 14 March 2025 and will end no later than February 2027.

To implement the Programme, the Company has engaged JSC "Halyk Finance" on an execution basis only, from time to time during the Programme period to purchase (i) Shares on the JSC "Kazakhstan Stock Exchange" and the Astana International Exchange ("AIX"); and (ii) GDRs on the London Stock Exchange (LSE) and AIX, on behalf of the Company. The purchases will be executed at the prevailing market price, in accordance with the rules of the relevant exchanges and in compliance with the applicable market abuse legislation.

The Company intends to announce the results of its Programme on a regular basis. The Company will also announce if other brokers are engaged.

This announcement does not constitute, or form part of, any offer or any solicitation of an offer for securities in any jurisdiction. None of the Company or any brokers engaged by the Company for the purposes of the Programme or their affiliates (or their respective directors, employees, agents or advisors) makes any recommendation as to whether or not shareholders or holders of GDRs should sell any or all of their Shares or GDRs. The shareholders and holders of GDRs are recommended to seek their own financial advice regarding participation in the Programme from their broker(s), investment manager(s), legal advisor(s), accountant(s), custodian(s) or other appropriately authorised independent financial advisor(s). Any individual or company whose Shares and/or GDRs are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee must contact such entity if they wish to take part in the Programme.  For further information, please visit www.airastana.com, or contact:

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About the Air Astana Group

Air Astana Group is the largest airline group in Central Asia and the Caucasus regions by revenue and fleet size. The Group operates a fleet of 60 aircraft split between Air Astana, its full-service airline that operated its inaugural flight in 2002, and FlyArystan, its low-cost airline established in 2019. The Group provides scheduled, point-to-point and transit, short-haul and long-haul air travel and cargo on domestic, regional and international routes across Central Asia, the Caucasus, the Far East, the Middle East, India and Europe. Air Astana was recognised by SkyTrax as the Best Airline in Central Asia & CIS twelve times and received the Best Airline Staff Service in Central Asia & CIS award eight times in a row. FlyArystan was recognised as the Best Low-Cost Carrier (LCC) in Central Asia & CIS at the SkyTrax awards twice. Additionally, Air Astana was awarded a five-star rating in the major airline category by the Airline Passenger Experience Association (APEX). The Group is listed on the Kazakhstan Stock Exchange, Astana International Exchange and London Stock Exchange (ticker symbol: AIRA).