Alliance Bank JSC (BDL:049726848) agreed to acquire Temirbank Joint Stock Company (KAS:TEBN) from Bulat Utemuratov, BTA Bank JSC (KAS:BTAS), The Bank of New York Mellon Corp, Private Banking & Securities Investments and others on November 10, 2014. In a related transaction, Alliance Bank JSC (BDL:049726848) agreed to acquire ForteBank Joint Stock Company from Bulat Utemuratov and others in stock on November 10, 2014. The new combined bank will be called ForteBank. Temirbank will become a wholly-owned, fully integrated, core subsidiary of Alliance Bank, and will cease to exist as a legal entity in 2015 upon incorporation in Alliance Bank. The shareholders of Alliance Bank have approved the restructuring plan in respect of Alliance Bank's indebtedness and that shareholders of the three banks have approved the proposed consolidation of the three banks. On November 26, 2014 the Bank obtained consent of the Committee for Regulation of Natural Monopolies and Protection of Competition of the Ministry of National Economy and The State Financial Supervision Committee of the Kazakh National Bank on the consolidation. The creditors of JSC Alliance Bank approved the transaction. On December 10, 2014, Alliance Bank obtained consent of the National Bank of the Republic Kazakhstan on the consolidation. As of December 9, 2014, it was announced that all JSC Temirbank GDRs will be exchanged on a mandatory basis at the rate of 11.922617219 new Alliance Bank GDRs for every 1 JSC Temirbank GDR surrendered for cancellation. The deal has been approved by the court on December 12, 2014. As of December 12, 2014, it was announced that holders of Rule 144A GDSs of Temirbank will automatically receive Rule 144A ALB GDRs (CUSIP: 018531707; ISIN: US0185317072) without the requirement for any certification as to the status of such holder. Likewise, holders of Reg S GDSs of Temirbank will automatically receive Regulation S ALB GDRs (CUSIP: 018531806; ISIN: US0185318062) without the requirement for any certification as to the status of such holder. Preference shares and common shares of Temirbank will receive common shares in Alliance Bank in accordance with the exchange ratios approved by shareholders of Alliance Bank. The transaction is expected to close by the end of 2014. As of December 17, 2014, it was announced that the transaction is expected to close by January 31, 2015. Lazard Frères acted as financial advisor while White & Case LLP acted as legal advisor for JSC Alliance Bank.

Alliance Bank JSC (BDL:049726848) completed the acquisition of Temirbank Joint Stock Company (KAS:TEBN) from Bulat Utemuratov, BTA Bank JSC (KAS:BTAS), The Bank of New York Mellon Corp, Private Banking & Securities Investments and others on January 1, 2015. On December 30, 2014, the shareholders of Alliance Bank approved the transfer act. Alliance Bank JSC will now be renamed as Joint Stock Company ForteBank. Serik Amanzholovich Svyatov and Anuar Bolatovich Utemuratov are to be elected as members of the Board of Directors of the Bank, Rustem Sabitovich Bekturov and Azamat Myrzadanovich Joldasbekov are to be elected as members of Board of Directors of Bank as Independent Directors, and Timur Rizabekovich Issatayev, Chairman of the Management Board of the Bank, to be elected as a member of Board of Directors of Bank.