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NOVATEK Board of Directors announces Extraordinary General Meeting of Shareholders

Moscow, 2 September 2010. The Board of Directors (the “Board”) of OAO NOVATEK (“NOVATEK”) has approved the decision to convene an Extraordinary General Meeting of Shareholders (“EGM”).

The Board has approved the following agenda for the EGM:

1. Approval of the Board’s recommendation for an interim dividend payment
2. Approval of a related party transaction between ОАО “NOVATEK” and ОАО “Gazprom” - Gas Transportation Services Agreement

3. Approval of a related party transaction between ОАО “NOVATEK” and ОАО “Gazprom” - Gas Delivery Agreement

The Board approved an interim dividend payment in the amount of RR 4,554,459,000 or RR 1.50 per ordinary share (RR 15.0 per GDR), based on the Russian Statutory Accounting results of OAO NOVATEK for the first six months of 2010. The interim dividend record date for holders of ordinary shares is 9 September 2010.

The date of compiling the list of shareholders entitled to participate in the EGM is 9 September 2010. Participation in the EGM will be facilitated through absentee voting and all completed ballots must be received by 14 October 2010.

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.