**PRESS RELEASE**

Nur-Sultan city
20.12.2020
 
Moody’s upgrades ratings of ForteBank

Moody’s Investors Service (“Moody’s”) announced its decision to upgrade once again the long-term deposit ratings of ForteBank to Ba3 from B1, the outlook is stable. In July, 2019 Moody’s upgraded the long-term deposit ratings to B1 from B3 (by two notches at one go), the outlook – stable.
According to Fitch analysts, the upgrade of the ratings recognizes the consistent improvements of the Bank’s solvency metrics along with strong liquidity despite business pressures related to the coronavirus containment measures and the economic contraction in Kazakhstan. ForteBank displayed strong profits and modest loan growth in recent years, which enabled the Bank to notably improve its solvency. ForteBank’s liquidity also remains healthy. The Bank was rapidly growing its deposit base while being conservative with loan origination.

**Mr. Guram Andronikashvili**, Chairman of the Management Board of ForteBank, commented on the news:

*“Moody’s international ratings agency estimates ForteBank’s team work in creating one of the most stable banks in the country. In November, 2020 Fitch Ratings also upgraded the outlook on ForteBank’s ratings. In spite of the challenging market conditions caused by global pandemic, ForteBank keeps on demonstrating stable financial and operational results. Ratings upgrade confirms the right direction of the development strategy chosen, efficiency and clients’ confidence in the bank.”*

ForteBank is one of the most stable, liquid and high-capitalized banks in the county. AQR results confirmed high reliability and stability of ForteBank. In 2020 ForteBank became the bank of the year in Kazakhstan for the third time according to The Banker magazine. In 2018-2020 Fortebank was recognized as the best bank in Kazakhstan according to Global Finance and the best bank in Kazakhstan in 2019 according to Asiamoney.

Contacts:

Investor relations
Phone: +7 (7172) 58 75 75 (int. 10249)
E-mail: IR@fortebank.com

Press office

Phone: +7 (7172) 59 99 99 (int. 10868)
E-mail: epeltola@fortebank.com


Moody’s upgrades ratings of ForteBank

ForteBank Joint Stock Company located at the address: 8/1, Dostyk str., Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan (hereinafter referred to as the “Bank”), hereby notifies on the changes in the membership of the Management Board of the Bank.

In accordance with the resolution of the Board of Directors of the Bank dated November 26th, 2020 (minutes of the meeting No.38), starting from November 27th, 2020, Vladimir Kirushko is elected as the Member of the Management Board of the Bank – Deputy Chairman of the Management Board.

Contacts:
Investor Relations
Tel. +7 (7172) 58 75 75 (int. 10249)
E-mail: IR@fortebank.com

ForteBank JSC informs on changes in the composition of the Management Board Nur

On November 23, 2020 Fitch Ratings announced its decision to upgrade the outlook from
Negative to Stable and affirmed the Long‐Term Issuer Default Ratings (IDRs) at “B”. Such decision
was made despite the fact that Fitch maintained the Negative Outlook on the Operating
Environment in Kazakhstan.

According to Fitch analysts, the upgrade of the Outlook and the affirmation of the ratings reflects
Fitch's expectations that Forte's strong pre‐impairment profitability and substantial capital buffer
would be sufficient to mitigate the ongoing pressure on the bank's asset quality, stemming from
the economic recession, lower oil prices, and negative implications from the spread of COVID‐19
on the broader economy. Fitch maintained the Negative Outlook on the Operating Environment
in Kazakhstan, but in Fitch's view, the bank's ratings could tolerate even a more severe increase
in loan impairment charges, than Fitch currently anticipates.

**Mr. Guram Andronikashvili**, Chairman of the Management Board of ForteBank, commented on
the news:

*“ForteBank’s outlook upgrade by Fitch is an important event for us and our clients, once again
proving the stability and reliability of the Bank. In spite of the challenging market conditions
caused by global pandemic, ForteBank continues to support and finance all of its clients while
maintaining high efficiency and positive financial and operational results”*.

ForteBank is one of the most stable, liquid and high‐capitalized banks in the county. AQR results confirmed high reliability and
stability of ForteBank. The bank has 20 branches and about 100 outlets. In 2018‐2020, ForteBank was recognized as the best bank
in Kazakhstan according to Global Finance, and the best bank in Kazakhstan according to Asiamoney in 2019.

**Contacts:**

Investor relations
Phone: +7 (7172) 58 75 75 (int. 10249)
E‐mail: IR@fortebank.com

**Press office**

Phone: +7 (7172) 59 99 99 (int. 10868)
E‐mail: epeltola@fortebank.com
____________________________________________________________________________

Fitch Ratings upgrades the outlook on ForteBank

Notice: the Extraordinary General Meeting of ForteBank JSC Shareholders will be held on October 16, 2020
ForteBank JSC (hereinafter referred to as the “Bank”) with the executive board (Management Board) located at: 8/1, Dostyk str., Yessil district, Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan, hereby notifies its shareholders that the Extraordinary General Meeting of Shareholders (hereinafter the “Meeting”) summoned at the initiative of the Board of Directors of the Bank (Minutes of Absentee Voting dated September 15th, 2020 No. 30 (z)) on the basis of Article 35.1, Article 37.3.3 and Article 41 of the Republic of Kazakhstan Law “On Joint Stock Companies” (hereinafter the Law “On Joint Stock Companies”).

The Meeting will be held on **October 16, 2020** at 10.00 a.m. (Nur-Sultan time) at the following address: Conference Room “Astana”, 8th floor, 8/1, Dostyk str., Nur-Sultan city.

The participants shall be registered on **October 16, 2020 ** from 09.00 a.m. to 09.45 a.m. (Nur-Sultan time) at the venue of the meeting.
The register of the Bank shareholders eligible to participate at the Meeting will be compiled as at 00.00 a.m. (Nur-Sultan time) on September 18, 2020.

In the absence of a quorum, the adjourned Extraordinary General Meeting of the Bank Shareholders will be held on **October 19, 2020** at 10.00 a.m. (Nur-Sultan time) at the same address. The participants of the adjourned Extraordinary General Meeting of the Bank Shareholders will be registered on **October 19, 2020** from 09.00 a.m. to 09.45 a.m. (Nur-Sultan time) at the venue of the meeting.

**Agenda of the Meeting**

1.	On Approval of amendments №3 to the Code of Corporate Governance.

In accordance with Article 43.4.1 of the Law “On Joint Stock Companies”, the agenda of the Meeting may be supplemented by a shareholder owning, independently or together with other shareholders, five or more percent of the voting shares of the company, or by the Board of Directors, provided that shareholders of the Bank have been notified of such amendments not later than 15 days prior to the date of the Meeting.

Pursuant to Article 44.4 of the Law “On Joint Stock Companies”, the materials on issues of the agenda of the Meeting shall have been prepared and available for familiarization of shareholders not later than ten calendar days before the date of the General Meeting of Shareholders at the location of the Management Board of the Bank.

Upon request of a shareholder of the Bank, the materials on issues of the agenda of the meeting shall be sent thereto within three business days of the day of receipt of the request, provided that the costs for making copies of documents and delivery of documents shall be borne by the shareholder, unless otherwise specified by the Charter.

For more information on holding of the Meeting, please call: +7 (7172) 59 99 99, extension 10200.

We hereby offer the shareholders of the Bank to acquaint themselves with the following procedure for holding the meeting.
In accordance with article 17.5 of the Republic of Kazakhstan Law “On Banks and Banking Activities in the Republic of Kazakhstan”, “legal entities incorporated in offshore zones the list whereof is established by the competent authority (see: decree of the Management Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated February 24, 2020 № 8 On Establishing the List of Offshore Zones for the Purposes of Banking and Insurance Activities, Activities of the Professional Participants of the Securities Markets and Other Licensed Types of Activities on the Securities Markets, Activities of the Joint Stock Investment Funds and Activities of the Organizations Conducting Micro-financial Activities), shall not be able to directly or indirectly own and (or) use, and (or) dispose the voting shares of the Republic of Kazakhstan resident banks”.

According to paragraph 5-1 of said article, “a shareholder participating at the general meeting of shareholders shall submit a statement which indicates the compliance with paragraph 5 of this article by its shareholders (participants), in case if the bank has no information on country of residence of such shareholders (participants)”. The second subparagraph of the aforementioned paragraph stipulates that “a shareholder who has not submitted the above statement is not allowed to participate at the general meeting of shareholders”. 
In this regard, at the registration, participants of the Meeting shall submit documents confirming their eligibility to participate at the Meeting and vote on issues considered at the Meeting.

The shareholders (representatives thereof) arrived shall be registered before opening of the meeting. It is required to have an identity document. A representative of the shareholder must submit a power of attorney confirming the authority thereof to participate and vote at the meeting, or a document confirming the eligibility to act on behalf of the shareholder or represent interests thereof without a power of attorney.

A shareholder (representative of a shareholder) who has not been registered shall not be counted in determining the quorum and shall not be entitled to vote.

The meeting opens at the announced time if a quorum is present.

The meeting shall hold elections of the chairperson and secretary of the meeting, determine the form of voting – open or secret (by poll).

In accordance with Article 50.1 of the Law “On Joint Stock Companies”, voting on the agenda of the extraordinary general meeting of shareholders shall be carried out under the principle of “one share – one vote”, except for providing each person entitled to vote at the extraordinary general meeting of shareholders one vote each regarding the procedural matters related to holding the general meeting of shareholders.

The chairperson shall not be entitled to interfere with the speeches of those eligible to participate in the discussion of the agenda issue, except for cases when such speeches result in violation of the rules of the meeting or when the dispute on this issue is over.
The extraordinary general meeting of shareholders shall be entitled to adopt a resolution on suspension of its work and on extension of the period of work, including postponement of consideration of certain issues of the agenda of the general meeting of shareholders to the following day.

A meeting may be declared to be closed only after consideration of all issues of the agenda and adoption of resolutions thereon.
In accordance with Article 52.1 of the Law “On Joint Stock Companies”, the minutes of the extraordinary general meeting of shareholders shall be drawn up and signed within three business days after the closing of the general meeting of shareholders.

The meeting shall be held in accordance with Articles 35-37, 39-48 and 50-52 of the Law “On Joint Stock Companies”, Articles 17.5 and 17.5-1 of the Law “On Banks and Banking Activities”, and Article 15 of the Bank Charter.

We are looking forward to welcoming the shareholders of the Bank to participate at the Extraordinary General Meeting of Shareholders of the Bank.


The Extraordinary General Meeting of ForteBank JSC Shareholders will be held on October 16, 2020

PRESS RELEASE
Nur-Sultan city 
04.08.2020 

**ForteBank signed the agreement on sale of 100% shares of Bank Kassa Nova**

ForteBank announced signing of the agreement on sale of 100% shares of Bank Kassa Nova to FREEDOM FINANCE Investment Company. The transaction should be completed by the end of 2020 after receipt of approval from the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan, as well as other required consents.

*«Establishment of Bank Kassa Nova, its progressive development into a stable and successful financial institution and the subsequent sale represent a classic example of implementation of an accurate business-strategy which has proven its effectiveness even during economically challenging times. Announcement of this transaction confirms the stability and reliability of the Bank and its decent growth potential. Bank Kassa Nova shall continue its operations, providing high-quality services to its clients»*, - commented on the event **Guram Andronikashvili**, Chairperson of the Management Board, ForteBank.

Bank Kassa Nova is an independent, well-capitalized medium-sized bank specialized in providing high-quality financial services in the small and medium enterprises sector. During the last several years, Bank Kassa Nova has significantly strengthened its financial indicators, expanded its product line and improved its quality of service. 

*«Within 10 year of operation, Bank Kassa Nova has achieved impressive results in all business lines  due to the support of the shareholder and the concerted efforts of the team of professionals. I am confident that this new stage of development will allow us to further strengthen the Bank’s position in the country’s banking sector and to offer new investment products and services to our clients»*, - stated **Sholpan Nurumbet**, Chairperson of the Management Board, Bank Kassa Nova. 

FREEDOM FINANCE JSC is a part of Freedom Holding Corp. international investment group which provides financial services to the clients in 7 countries, including Kazakhstan, Russia and Ukraine. Freedom Holding Corp. shares are listed on Nasdaq Capital Market, Kazakhstan Stock Exchange and St. Petersburg Stock Exchange. The market capitalization of Freedom Holding Corp. as of July 31st, 2020 amounts to USD 1,13 billion.

*«Freedom Holding Corp. is confidently moving towards realization of its strategy aimed to providing a wide range of financial services to the population of each country where the holding is represented. Acquisition of Bank Kassa Nova JSC will enable us  to provide such services to the customers in the most convenient and technologically advanced way. We plan to create a bank providing modern investment and banking services in Kazakhstan»*, - emphasized **Timur Turlov**, СЕО, Freedom Holding Corp.

____________________________________________________________________________________
ForteBank is one of the largest banks of Kazakhstan in terms of assets and leading in terms of capitalization level and liquidity. The Bank’s stable position has been noted by the S&P Global Ratings international rating agency which affirmed ratings of the Bank. ForteBank has also become The Bank of the Year in Kazakhstan according to Global Finance and Asiamoney.


Press office 
Phone: +7 (7172) 59 99 99 (int. 10868) 
E-mail: epeltola@fortebank.com



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