144 0002025162 XXXXXXXX LIVE 0001985487 Joint Stock Company Kaspi.kz 001-41921 154A Nauryzbai Batyr Street Almaty 1P 050013 77273306710 Asia Equity Partners Ltd. Affiliate ADSs Morgan Stanley Smith Barney LLC Executive Financial Services

1 New York Plaza 8th Floor New York NY 10004

357779 26833425.00 190784522 11/12/2025 NASDAQ Common 11/22/2006 Private Placement Issuer N 357779 11/22/2006 Cash N Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 10/06/2025 1699 134768.76 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 10/01/2025 22061 1777438.77 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 09/30/2025 23280 1903940.83 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 09/29/2025 24083 1995671.51 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 09/26/2025 15646 1314608.21 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 09/25/2025 11778 989945.61 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 09/24/2025 23400 1976906.88 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 09/23/2025 16654 1421657.05 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 09/22/2025 28016 2408356.22 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 09/19/2025 12693 1121497.63 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 09/18/2025 30360 2770149.62 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 09/17/2025 18691 1653775.94 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 09/16/2025 19691 1669003.25 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 09/15/2025 15253 1291230.51 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 09/12/2025 12818 1082804.40 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 09/11/2025 27654 2358344.18 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 09/10/2025 41226 3475360.05 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 09/09/2025 13601 1183029.94 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 09/09/2025 1000000 87240000.00 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 09/08/2025 13701 1198934.78 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 09/05/2025 12929 1156561.11 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 09/04/2025 7413 672952.14 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 09/03/2025 12103 1090312.07 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 09/02/2025 22892 2093665.69 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 08/29/2025 8419 787271.63 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 08/28/2025 12704 1181092.15 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 08/27/2025 9547 874339.08 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 08/26/2025 23190 2138925.01 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 08/25/2025 5657 523864.22 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 08/22/2025 6539 603703.37 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 08/21/2025 8252 747864.73 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 08/20/2025 11676 1064262.73 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 08/19/2025 12036 1131804.06 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 08/18/2025 16615 1571126.03 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 08/15/2025 9567 914485.61 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 08/14/2025 7924 762230.16 Asia Equity Partners Ltd.

32 Kritis Street Papachristoforou Building, 4th Floor Limassol G4 3087

ADSs 08/13/2025 12559 1228081.82 11/12/2025 /s/ Stathia Dimofanous