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NOVATEK’S Board of Directors declared final dividend for 2005

Moscow, 24 April 2006. The Board of Directors of OAO NOVATEK has approved the recommendations of its Committee on Corporate Governance chaired by Ruben Vardanian, and declared a final 2005 dividend payment of RR 523 per share of common stock, or RR 5.23 per Global Depository Receipt. The final dividend payment totaling RR 1,589 million is based on the Company’s net profits of RR 15,178 million according to non-consolidated Russian statutory accounts for the twelve months ended 31 December 2005. The dividend will be paid 60 days after shareholder approval to shareholders of record at the close of business on 21 April 2006.

The dividend payout for financial year 2005 totaled RR 2,733 million or RR 900 per share of common stock and RR 9 per Global Depository Receipt.

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.