Kaspi.kz Responds to Investor Questions

Core Insights - Kaspi.kz aims to enhance people's lives through innovative mobile products and services, operating a unique two-sided Super App model for consumers and merchants [1][16] Business Overview - The company generates 99.6% of its revenue from Kazakhstan, with the remainder from Azerbaijan and Ukraine [3][8] - Kaspi Bank, a subsidiary, is one of the largest financial institutions in Kazakhstan, operating under strict regulatory supervision [3][9] Regulatory Compliance - Kaspi.kz has comprehensive policies to avoid working with consumers or companies on international sanctions lists [3][5] - The company performs "know your customer" (KYC) processes for all consumers and merchants, ensuring compliance with local regulations [4][9] Financial Performance - In 2023, total revenue reached approximately KZT 1,913,490 million (around $4,210 million), showing significant growth from previous years [8] - The company's classifieds business in Azerbaijan generated KZT 3,742 million in revenue in 2023, with a compound annual growth rate (CAGR) of 46% from 2020 to 2023 [12] Market Position - Kaspi.kz Super App is the most popular mobile app in Kazakhstan, with 14 million monthly active users (MAU) in 2023 [17] - The Kaspi Pay Super App serves as a digital partner for 581,000 merchant partners in Kazakhstan [17] E-Grocery Expansion - In February 2023, Kaspi.kz acquired a 90.01% share in Magnum E-Commerce Kazakhstan, committing to invest KZT 70,000 million over three years for development [13][14] - The e-Grocery segment saw a 111% year-over-year increase in gross merchandise value (GMV) during the first half of 2024, reaching around KZT 56,900 million [14]