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NOVATEK’s Board Recommends 1H 2018 Dividend

Moscow, 24 August 2018. The Board of Directors (the “Board”) of PAO NOVATEK (“NOVATEK” and/or the “Company”) discussed the Company’s results for the first half 2018 and decided to convene an Extraordinary General Meeting of Shareholders (“EGM”) on 28 September 2018 in the form of absentee voting, with the following agenda:

1.      On the payment of interim dividends for the first half 2018.

The Board recommends the EGM to approve the proposed interim dividend payment for the first half 2018 in the amount of RR 28,085,830,500, which amounts to RR 9.25 per one ordinary share or RR 92.50 per one GDR. The recommended first half 2018 interim dividend is 33.1% higher as compared to the interim dividend for the first half 2017.

The list of persons entitled to take part in NOVATEK’s EGM will be compiled as of 4 September 2018. The Board recommended to compile the list of persons entitled to receive dividends as of 10 October 2018.

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.