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NOVATEK Board of Directors Announces Extraordinary General Meeting of Shareholders

Moscow, 23 June 2008. OAO NOVATEK (the «Company») has announced that its Board of Directors (the «Board») has scheduled an Extraordinary General Meeting of Shareholders (EGM) and approved the following agenda:

  1. Introduction of amendments to the Charter of the OAO NOVATEK.
  2. Introduction of amendments to the Regulations on the Board of Directors of the OAO NOVATEK.

The Board of Directors submitted to the shareholders for consideration an issue on increasing the quantitative composition of the Board of Directors to nine (9) members. Adoption of this decision will establish conditions for increasing the number of independent directors working on the Company’s Board, and is consistent with the Company’s ongoing efforts to adopt corporate governance best practices.

The date of record for the list of persons entitled to participate in the Company’s EGM is 24 June 2008. Participation in the EGM will be carried out through absentee voting and all ballots must be received by 29 July 2008. All relevant materials pertaining to the EGM will be made available to shareholders of record through the appropriate notification channels.

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.