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NOVATEK’s Board of Directors recommend 1H 2016 dividend

Moscow, 26 August 2016. The Board of Directors (the “Board”) of OAO NOVATEK (“NOVATEK” and/or the “Company”) discussed the Company’s results for the first half 2016 and decided to convene an Extraordinary General Meeting of Shareholders (“EGM”) on 30 September 2016 in the form of absentee voting, with the following agenda:

  1. On the payment of dividends for the first half 2016;
  2. On Amendments to NOVATEK’s Charter; and
  3. On Amendments to NOVATEK’s internal regulatory documents.

The Board recommended to the EGM to approve an interim dividend payment for the first half 2016 in the amount of RR 20,950,511,400, which represents 30% of the consolidated net profit under IFRS adjusted for the items unrelated to the Company’s core business and non-cash items, and amounts to RR 6.9 per one ordinary share or RR 69.0 per one GDR. The recommended interim dividend for the first half 2016 is 4.5% higher as compared to the interim dividend for the first half 2015.

The list of persons entitled to take part in NOVATEK’s EGM will be compiled as of 6 September 2016. The Board recommended to compile the list of persons entitled to receive dividends as of 11 October 2016.

The Board approved the Policy on the Internal Audit of OAO NOVATEK, and amended the Regulations on the Risk Management and Internal Control System and the Regulations on the Remuneration and Nomination Committee of OAO NOVATEK.

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.