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FINANCIAL LEASING UNDER "SECONDARY LEASING" PROGRAM

Secondary Leasing

Designated purpose

Subject of leasing placed on the Company's balance sheet due to termination of primary financial leasing contract

Instrument

Leasing

 Term

   From 3 up to 7 years

First leasing payment

            At least 12 % of value of subject of leasing

Collateral

Not required

Grace period for principal and/or interest

No

Special terms

1)               conclusion of a secondary financial leasing contract within the calendar quarter, in which the primary financial leasing contract has been terminated;

2)                interest rate under secondary leasing contract does not exceed the interest rate under the primary leasing contract;

3)                leasing term under the secondary financial leasing contract is at least 3 (three) years.

On secondary leasing, which is not recognized as "financial leasing" for the purposes of the Tax Code of the Republic of Kazakhstan, the interest rate is fixed as follows: if subject of leasing has been previously purchased at the expense of the funds from the republican budget, the National Fund of the Republic of Kazakhstan or other sources of financing, the interest rate applicable at conclusion of a secondary financial leasing contract shall be fixed on the terms of financial leasing at the expense of the Company's non-budgetary sources. At that, the interest rate not providing for indexation to the currency of funds raised shall be applied.


 Approved by the Resolution of the Board of Directors of "KazAgroFinance" JSC No. 14 dated December 28, 2016.