Press Releases and Events

NOVATEK Announces Financial Results for the First Half 2026

Moscow, 24 July 2026. PAO NOVATEK (“NOVATEK” and/or the “Company”) reported today disclosable consolidated interim condensed financial statements as of and for the six months ended 30 June 2026.

In the six months ended 30 June 2026, our total revenues and Normalized EBITDA, including our share in the EBITDA of joint ventures, amounted to RR 836.3 billion and RR 430.4 billion, respectively, representing an increase of 4.0% and a decrease of 8.8%, respectively, as compared to the corresponding period in 2025. Normalized profit attributable to shareholders of PAO NOVATEK, excluding the effect of foreign exchange gains (losses), amounted to RR 216.5 billion in the first half 2026, which is 8.7% lower as compared to the first half 2025.

Net cash provided by operating activities of the Group amounted to RR 172.2 billion in the six months 2026, representing a decrease of 12.0% as compared to the corresponding period in 2025. Our cash used for capital expenditures amounted to RR 91.7 billion in the first half 2026, which is 20.0% higher as compared to the first half 2025.

Key performance indicators
(in millions of Russian roubles except as stated)

	1H 2026	1H 2025
Financial results
Total revenues	836,336	804,320
Operating expenses	(658,102)	(628,438)
Normalized EBITDA	430,402	471,806
Profit attributable to shareholders of PAO NOVATEK	218,664	225,697
Normalized profit attributable to shareholders of PAO NOVATEK, excluding the effect of foreign exchange gains (losses)	216,494	237,057
Non-current assets	2,891,628	3,170,716
Non-current liabilities	325,521	359,999
Net debt (net cash position)	(43,511)	108,379
Production volumes
Hydrocarbons production (million barrels of oil equivalent)	346	337
Daily production (million barrels of oil equivalent per day)	1.91	1.86
Cash flow results
Net cash provided by operating activities	172,249	195,689
Cash used for capital expenditures	91,740	76,439

Disclosable consolidated interim condensed financial statements of PAO NOVATEK and the notes thereto are available on the Company’s web site (www.novatek.ru/en/).

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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.