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NOVATEK’S AGM approves 2005 dividend

Moscow, 2 June 2006. OAO NOVATEK today announced that the Annual General Meeting of Shareholders (AGM) approved the Company’s profit distribution for the previous year.

Based on NOVATEK’s 2005 annual results, net profit in accordance with the Russian Standards of Accounting (RSA) amounted to RR 15,178 million. The AGM resolved to pay dividends on the Company’s shares in the amount of RR 523 (Five hundred and twenty three Russian roubles) per one ordinary share (excluding interim dividends paid for 9 months of 2005 in the amount of RR 377 per one ordinary share).

The total dividend distribution amounting to RR 2,732 million (including interim dividends paid for 9 months of 2005) equals 18% of the Company’s net profit for 2005 (according to RSA), or RR 900 per ordinary share.

The date of record for the list of persons entitled to receive dividends was compiled on 21 April 2006, which also coincided with the date for making a list of those entitled to attend the Company’s AGM.

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.