[144] Joint Stock Co Kaspi.kz SEC Filing

Rhea-AI Filing Summary

KSPI notice under Rule 144 reports a proposed sale of 1,000,000 American Depositary Shares (ADS). The filing lists an aggregate amount of $86,820,000.00 associated with the ADS line and shows a prior sale of 1,000,000 ADS on 03/10/2026 with $86,685,506.87 indicated. The ADS are listed on NASDAQ.

Key Figures

Proposed ADS sale: 1,000,000 ADS Aggregate amount (ADS line): $86,820,000.00 Sale in past 3 months: 1,000,000 ADS +2 more

5 metrics

Proposed ADS sale 1,000,000 ADS Listed on the ADS security line

Aggregate amount (ADS line) $86,820,000.00 Appears in the ADS row alongside the 1,000,000 figure

Sale in past 3 months 1,000,000 ADS Sale dated <date>03/10/2026</date> in "Securities Sold During The Past 3 Months"

Proceeds listed for prior sale $86,685,506.87 Value shown next to the 03/10/2026 sale entry

Shares outstanding figure 190,227,932 Number shown in the ADS security row, dated 06/04/2026

Key Terms

ADS, RegS GDRs converted into ADS, Rule 144

3 terms

ADS financial

"ADS | UBS Financial Services Inc. 11 Madison Avenue 4th Floor New York NY 10010"

Ads are paid promotional messages a company places across media — online, on TV, in print, or on social platforms — to attract customers, explain products, or shape public perception. For investors, ads matter because they drive sales growth, affect how much a company must spend to win customers, and influence brand strength and long-term value. Ads can also create regulatory or reputational risk if claims are misleading, which can affect profits and stock price.

RegS GDRs converted into ADS regulatory

"RegS GDRs converted into ADS at the time of the Issuer IPO"

Rule 144 regulatory

"Filer Information ... 144: Filer Information"

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

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Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
ADS	UBS Financial Services Inc. 11 Madison Avenue 4th Floor New York NY 10010	1000000	86820000.00	190227932	06/04/2026	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
ADS	01/10/2024	RegS GDRs converted into ADS at the time of the Issuer IPO	Issuer			1000000	01/10/2024	Common Shares converted to ADS at the time of Issuer IPO

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Vyacheslav Kim c/o 154A NAURYZBAI BATYR STREET ALMATY 1P 050013	ADS	03/10/2026	1000000	86685506.87

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does KSPI's Form 144 disclose about the size of the proposed sale?

It discloses a proposed sale of 1,000,000 ADS. The filing line shows 1,000,000 ADS tied to the ADS security entry and an associated aggregate amount of $86,820,000.00 on the same row.

Did KSPI report any recent ADS sales in the past three months?

Yes; the filing shows a sale of 1,000,000 ADS on 03/10/2026. That sale row lists a value of $86,685,506.87 next to the 03/10/2026 date in the "Securities Sold During The Past 3 Months" section.

Which security type and exchange are listed in the KSPI Form 144?

The filing lists American Depositary Shares (ADS) as the security type and shows NASDAQ as the exchange. The ADS row includes issuer broker information and exchange details in the security line.

What conversion or origin of the ADS is noted in the filing?

The filing states RegS GDRs converted into ADS at the time of the Issuer IPO. That phrase appears in the securities description and ties the ADS to prior RegS GDR conversions dated 01/10/2024.