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NOVATEK Board of Directors recommends 2013 dividend

Moscow, 03 March2014. OAO NOVATEK (the “Company”) today announced the results of its Board of Directors (the “Board”) meeting. Based on the Board’s Corporate Governance and Remuneration Committee recommendations, the Board recommended to the Annual General Meeting of Shareholders (“AGM”) to approve dividend payments on the Company’s shares in the amount of RR 4.49 per ordinary share (or RR 44.9 per GDR), excluding the interim dividends of RR 3.40 per ordinary share (or 34.0 per GDR) paid for the six months of 2013. 

The total dividend distribution for 2013 is RR 7.89 per ordinary share (or RR 78.9 per GDR) as compared to RR 6.86 (or RR 44.9 per GDR) for 2012.

The Company’s AGM will take place on 18 April 2014. Shareholders at the close of business on the 14 March 2014 will be entitled to participate in the Company’s AGM. Shareholders at the close of business on the 29 April 2014 will be entitled to receive dividends.

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.