Pjsc Tatneft Regulatory News (ATAD)

Tatneft published the audited IFRS consolidated financial statements for the year ended December 31, 2021

15 March 2022

PJSC Tatneft (the "Company") published on its web-site (http://www.tatneft.ru/?lang=en) the audited consolidated financial statements (the "Financial Statements") for the year ended 31 December 2021 prepared in accordance with International Financial Reporting Standards ("IFRS") and the related Directors' report, incorporating Management Discussion and Analysis of Results of Operations for the fourth quarter and full year 2021 (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 fourth quarter and full year 2021 IFRS results. For convenience Russian ruble amounts below have been translated into U.S. dollars, for sales and other operating revenues, net profit and EBITDA* 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 fourth quarter of 2021 Tatneft Group produced 7,237 thousand tonnes (51.5 MMbbl) of crude oil and 235 million cubic meters of gas compared to 7,164 thousand tonnes (51 MMbbl) of crude oil and 232 million cubic meters of gas in the third quarter of 2021. TANECO refinery output in the fourth quarter of 2021 was 3.9 million tonnes of refined products compared to 2.4 million tonnes of refined products in the third quarter of 2021.

In 2021 Tatneft Group produced 27,830 thousand tonnes (198.2 MMbbl) of crude oil and 885 million cubic meters of gas compared to 26,014 thousand tonnes (185.3 MMbbl) of crude oil and 831 million cubic meters of gas in 2020. TANECO refinery output in 2021 was 12.2 million tonnes of refined products compared to 11.3 million tonnes of refined products in 2020.

The Company's consolidated revenue on non-banking activities in the fourth quarter of 2021 were 354,190 million rubles (US$ 4,878 million) as compared to 326,156 million rubles (US$ 4,439 million) in the third quarter of 2021. The consolidated profit attributable to Group shareholders in the fourth quarter of 2021 was 54,124 million rubles (US$ 745 million) as compared to 52,057 million rubles (US$ 709 million) in the third quarter of 2021.

The Company's consolidated revenue on non-banking activities in 2021 were 1,265,380 million rubles (US$ 17,181 million) as compared to 795,815 million rubles (US$ 11,030 million) in 2020. The consolidated profit attributable to Group shareholders in 2021 was 198,412 million rubles (US$ 2,694 million) as compared to 103,490 million rubles (US$ 1,434 million) in 2020.

The Company's EBITDA* in the fourth quarter of 2021 was 77,291 million rubles (US$ 1,064 million) as compared to 74,464 million rubles (US$ 1,014 million) in the third quarter of 2021. However, the Company's EBITDA adjusted for exceptional items* in the fourth quarter of 2021 was 79,343 million rubles (US$ 1,093 million) as compared 74,767 million rubles (US$ 1,018 million) in the third quarter of 2021.

The Company's EBITDA* in 2021 was 293,179 million rubles (US$ 3,981 million) as compared to 179,871 million rubles (US$ 2,493 million) in 2020. The Company's EBITDA adjusted for exceptional items* in 2021 was 296,833 million rubles (US$ 4,030 million) as compared 187,304 million rubles (US$ 2,596 million) in 2020.

Total consolidated assets of the Company increased from 1,263,441 million rubles (US$ 17,101 million) as of 31 December 2020 to 1,502,289 million rubles (US$ 20,222 million) as of 31 December 2021.

Total consolidated liabilities of the Company increased from 431,851 million rubles (US$ 5,845 million) as of 31 December 2020 to 558,914 million rubles (US$ 7,523 million) as of 31 December 2021.

Total consolidated shareholders' equity increased from 831,590 million rubles (US$ 11,256 million) as of 31 December 2020 to 943,375 million rubles (US$ 12,699 million) as of 31 December 2021.

* Non-IFRS measures. Please see the MD&A for definitions and calculations.

As of the date of this notice trading in the Company's ADRs remains suspended pursuant to the London Stock Exchange decision announced on 3 March 2022 (https://docs.londonstockexchange.com/sites/default/files/documents/n0622.pdf), and trading in the Company's ordinary shares (the right to which is represented by the ADRs) at the Moscow Exchange has been suspended by the decisions of the Russian Central Bank (the most recent announcement was made on 12 March 2022, which halts the trading until 18 March 2022, inclusive: http://cbr.ru/eng/press/pr/?file=12032022_192000ENG_PP14032022_104118.htm). In addition, the conclusion and settlement of transactions, in particular with investors located in jurisdictions identified as 'unfriendly', has been restricted pursuant to various legislation adopted in the Russian Federation. The Company has no information regarding potential resumption of trading in its securities at either the London Stock Exchange or the Russian market and/or any action which might be taken by the regulators or stock exchanges in that regard as well as any future development, adoption or application of any current or new legislation affecting the trading and settlement in the Company's securities.

This press-release contains inside information.

Forward-looking statements: This press-release contains certain statements about future events and expectations that are forward-looking in nature. Any statement in this press-release 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.