Update on the privatisation of Humo payments system in Uzbekistan

Group 1: Company Overview - Kaspi.kz submitted a non-binding letter of interest to participate in the privatization of Uzbekistan's National Interbank Processing Center ("Humo") in August 2024 but is not proceeding further in the process [1] - The company operates a unique two-sided Super App model, which includes the Kaspi.kz Super App for consumers and Kaspi Pay Super App for merchants, aimed at improving everyday lives through innovative mobile products and services [3][4] - Kaspi.kz has been listed on Nasdaq since January 2024 and has been the subject of two case studies by Harvard Business School, indicating its significance in the industry [5] Group 2: Industry Context - Uzbekistan's economy is experiencing rapid growth, supported by an attractive reform agenda from the government, which presents opportunities for companies like Kaspi.kz to engage in the country's digital transformation [2] - The combination of a large, engaged consumer and merchant base, along with relevant digital products, contributes to strong top-line growth and a profitable business model for Kaspi.kz [5]