3rd Quarter Results

Tatneft published its IFRS consolidated interim condensed financial statements for the three and nine months ended 30 September 2016

30 November 2016

PJSC Tatneft (the "Company") announces today that it published on its web-site (http://www.tatneft.ru/?lang=en) the unaudited consolidated interim condensed financial statements (the "Financial Statements") for the three and nine months ended 30 September 2016 prepared in accordance with International Financial Reporting Standards ("IFRS") and related Management Discussion and Analysis of Results of Operations (the "MD&A").

Selected financial highlights below are based on the respective IFRS financial statements of the Company. These highlights do not replace the Financial Statements or the MD&A and all interested persons are encouraged to read these documents for full understanding of three and nine months ended 30 September 2016 IFRS results. Russian Ruble amounts below have been translated into U.S. Dollars, for sales and other operating revenues and net profit at the average exchange rate during the respective reporting period and for items of Statements of Financial Position at the exchange rate on the last date of the respective reporting period.

In the nine months of 2016 Tatneft Group produced 21.1 million tonnes (150.4 MMbbl) of crude oil, including 0.5 million tonnes (3.6 MMbbl) of highly viscous oil, 737.8 million cubic meters of gas. TANECO refinery output in the nine months 2016 was 6.9 million tonnes of refined products. For more details about Tatneft Group's operational results during the nine months of this year, please refer to the MD&A.

The Company's consolidated sales and other operating revenues net of export duties and excise tax in the third quarter of 2016 were 147,395 million Rubles (US$ 2,281 million) as compared to 134,588 million Rubles (US$ 2,137 million) in the corresponding period of 2015. In the nine months of 2016 our consolidated sales and other operating revenues net of export duties and excise tax were 415,239 million Rubles (US$ 6,073 million) as compared to 414,099 million Rubles (US$ 6,985 million) in the nine months of 2015.

The consolidated profit attributable to Group shareholders in the third quarter of 2016 was 26,692 million Rubles (US$ 413 million) as compared to 23,272 million Rubles (US$ 370 million) in the third quarter of 2015. The consolidated profit attributable to Group shareholders in the nine months of 2016 was 75,206 million Rubles (US$ 1,100 million) as compared to 79,303 million Rubles (US$ 1,338 million) in the corresponding period of 2015.

Total consolidated assets of the Company increased from 798,691 million Rubles (US$ 10,959 million) as of 31 December 2015 to 809,202 million Rubles (US$ 12,812 million) as of 30 September 2016.

Total consolidated liabilities of the Company decreased from 141,033 million Rubles (US$ 1,935 million) as of 31 December 2015 to 139,410 million Rubles (increased in US dollar terms to US$ 2,207 million) as of 30 September 2016.

Total consolidated shareholders' equity increased from 657,658 million Rubles (US$ 9,024 million) as of 31 December 2015 to 669,792 million Rubles (US$ 10,605 million) as of 30 September 2016.

This press-release contains inside information.

Forward-looking statements: These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. PJSC Tatneft assumes no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.