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Notification by persons discharging managerial responsibilities

Moscow, 1 February 2016. OAO NOVATEK (“NOVATEK” and/or the “Company”) has received notice from the member of the Company’s Board of Directors Gennady Timchenko regarding a change in his direct equity stake of ordinary shares of NOVATEK. 
% of ordinary shares prior to notification
% of ordinary shares after notification
Date of notification of change in equity stake
Gennady Timchenko

The Company has also received a notification from Volga Group about an increase in its direct equity stake of ordinary shares of NOVATEK from 9.13% to 10.26%. 

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.