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Results of NOVATEK Board of Directors meeting

Moscow, 29 August 2011. OAO NOVATEK (“NOVATEK” and/or the “Company”) has announced the results of its Board of Directors (“the Board”) meeting held in the Yamal Nenets Autonomous Region (“YNAO”) on 28 August 2011.
The Board has approved the following:
1.    To convene an extraordinary general meeting of NOVATEK’s shareholders (“EGM”) in the form of absentee voting;
2.    To approve the Agenda of NOVATEK’s EGM - On The Payment Of Dividends for the First Half 2011;
3.    To determine the date of compiling a list of people entitled to take part in NOVATEK’s EGM - 8 September 2011;
4.    To recommend to the Company’s EGM to allocate for the First Half 2011 the dividend payment in the amount of RR 7,590,765,000, which constitutes RR 2.5 per one ordinary share (or RR 25.0 per GDR);
5.    To approve the Company’s Internal Regulation on the procedure of accessing NOVATEK’s insider information, the protection of its confidentiality, and the disclosure and control over the unlawful use of NOVATEK’s insider information.

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.