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NOVATEK Board of Directors recommends 2015 dividend

Moscow, 10 March 2016.  OAO NOVATEK (the “Company”) announced the results of its Board of Directors (the “Board”) meeting held today, whereby the Board recommended to the Annual General Meeting of Shareholders (“AGM”) to approve dividend payments on the Company’s shares in the amount of RR 6.9 per ordinary share (or RR 69 per GDR), excluding the interim dividends of RR 6.6 per ordinary share (or RR 66 per GDR) paid for the six months of 2015. 

The total dividend distribution for 2015 is RR 13.5 per ordinary share (or RR 135 per GDR), representing an increase of 31% as compared to RR 10.3 (or RR 103 per GDR) for 2014.

The Company’s AGM will take place on the 22 April 2016. Shareholders at the close of business on the 21 March 2016 will be entitled to participate in the Company’s AGM. The recommended date for compiling the list of shareholders entitled to receive dividends is 4 May 2016.

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.