Kaspi.kz (KSPI) deputy chair Didenko reports 1.84M ADS ownership stake

Rhea-AI Filing Summary

Joint Stock Co Kaspi.kz deputy chair for capital markets Yuri Didenko filed an initial ownership report showing holdings of 1,838,378 American Depositary Shares. Each ADS represents one common share of the company, so this reflects the same number of underlying common shares. This Form 3 is a disclosure of an existing position rather than a new purchase or sale.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Didenko Yuri

Role Deputy Chair (Cap. Markets)

Type	Security	Shares	Price	Value
holding	American Depositary Shares, no par value	--	--	--

Holdings After Transaction: American Depositary Shares, no par value — 1,838,378 shares (Direct)

Footnotes (1)

1. F1. Each American Depositary Share represents one common share of the issuer.

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Accepted by SEC EDGAR 03/18/2026 - 05:33 PM Learn about SEC filing dates

FAQ

What does Yuri Didenko’s Form 3 for KSPI disclose?

The Form 3 discloses that Yuri Didenko, deputy chair for capital markets at Joint Stock Co Kaspi.kz, holds 1,838,378 American Depositary Shares. These ADSs correspond to the same number of common shares, providing a baseline of his direct ownership stake.

Did Yuri Didenko buy or sell KSPI shares in this Form 3?

The filing does not report any new purchase or sale transactions. It is an initial ownership statement listing 1,838,378 American Depositary Shares already held, which represent existing exposure to the same number of Kaspi.kz common shares.

How many KSPI American Depositary Shares does Didenko report owning?

Didenko reports direct ownership of 1,838,378 American Depositary Shares. According to the filing, each ADS represents one common share of Joint Stock Co Kaspi.kz, so his ADS position mirrors 1,838,378 underlying common shares on a one-for-one basis.

What is the relationship between Kaspi.kz ADSs and common shares in this filing?

The filing states that each American Depositary Share represents one common share of the issuer. This means Didenko’s 1,838,378 ADSs correspond directly to 1,838,378 common shares, simplifying understanding of his economic and voting exposure to Kaspi.kz.

Is the ownership reported by Yuri Didenko in KSPI direct or indirect?

The ownership reported is classified as direct. The transaction data show the ownership type as direct, with 1,838,378 American Depositary Shares held personally rather than through an intermediary entity, trust, or other indirect structure.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Didenko Yuri

(Last) (First) (Middle)

154A NAURYZBAI BATYR STREET

(Street)

ALMATY 050013

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Joint Stock Co Kaspi.kz [ KSPI ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Deputy Chair (Cap. Markets)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
American Depositary Shares, no par value	(1)	(1)	Common shares, no par value	1,838,378	(1)	D

Explanation of Responses:

1. Each American Depositary Share represents one common share of the issuer.

Remarks:

Due to the issuer's status as a foreign private issuer pursuant to Rule 3a12-3(b) under the Securities Exchange Act of 1934 (the "Act"), the reporting person's transactions in the issuer's equity securities are exempt from Sections 16(b) and 16(c) of the Act. Exhibit 24 - Power of Attorney

	/s/ Tengiz Mosidze as attorney-in-fact for Yuri Didenko	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)