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NOVATEK Changes Composition of the Management Board

Moscow, 2 November 2020. The Board of Directors (the “Board”) of PAO NOVATEK (“NOVATEK” and/or the “Company”) has approved the decision to change the composition of the Company’s Management Board.

The Board terminated the membership of the First Deputy Chairman of the Management Board Alexander M. Fridman and appointed Evgeniy N. Ambrosov, Deputy Chairman of the Management Board – Director for Marine Operations, Shipping and Logistics, as a new member of the Management Board.

PAO NOVATEK is one of the largest independent natural gas producers in Russia, and in 2017, entered the global LNG market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. Upstream activities of the Company’s subsidiaries and joint ventures are concentrated mainly in the prolific Yamal-Nenets Autonomous Area, which is the world’s largest natural gas producing area and accounts for approximately 80% of Russia’s natural gas production and approximately 15% of the world’s gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation.