Pjsc Tatneft Regulatory News (ATAD)

Tatneft published its IFRS consolidated interim condensed financial statements for the three and six months ended 30 June 2021

27 August 2021

PJSC Tatneft (the "Company") 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 six months ended 30 June 2021 prepared in accordance with International Financial Reporting Standards ("IFRS") and the related Management Discussion and Analysis of Financial Condition and 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 the IFRS results for the three and six months ended 30 June 2021. 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 second quarter of 2021 Tatneft Group produced 6 966 thousand tonnes (49.6 MMbbl) of crude oil and 221.3 million cubic meters of gas compared to 6 463 thousand tonnes (46 MMbbl) of crude oil and 196.8 million cubic meters of gas in the first quarter of 2021. TANECO refinery output in the second quarter of 2021 was 3 million tonnes of refined products compared to 2.8 million tonnes of refined products in the first quarter of 2021.

In the six months of 2021 Tatneft Group produced 13 429 thousand tonnes (95.7 MMbbl) of crude oil and 418.1 million cubic meters of gas compared to 13 260 thousand tonnes (94.5 MMbbl) of crude oil and 433.9 million cubic meters of gas in the six months of 2020. TANECO refinery output in the six months of 2021 was 5.8 million tonnes of refined which is equivalent to the volume of refined products produced in the six months of 2020.

The Company's consolidated sales and other operating revenues on non-banking activities net of export duties and excise taxes in the second quarter of 2021 were 311 051 million rubles (US$ 4 191 million) as compared to 257 832 million rubles (US$ 3 468 million) in the first quarter of 2021. The consolidated profit attributable to Group shareholders in the second quarter of 2021 was 48 642 million rubles (US$ 655 million) as compared to 43 589 million rubles (US$ 586 million) in the first quarter of 2021.

The Company's consolidated sales and other operating revenues on non-banking activities net of export duties and excise taxes in the six months of 2021 were 568 883 million rubles (US$ 7 659 million) as compared to 334 553 million rubles (US$ 4 823 million) in the six months of 2020. The consolidated profit attributable to Group shareholders in the six months of 2021 was 92 231 million rubles (US$ 1 242 million) as compared to 42 852 million rubles (US$ 618 million) in the six months of 2020.

The Company's EBITDA* in the second quarter of 2021 was 75 579 million rubles (US$ 1 018 million) as compared to 65 845 million rubles (US$ 886 million) in the first quarter of 2021. However, the Company's EBITDA adjusted for exceptional items* in the second quarter of 2021 was 76 082 million rubles (US$ 1 025 million) as compared 66 641 million rubles (US$ 896 million) in the first quarter of 2021.

The Company's EBITDA* in the six months of 2021 was 141 424 million rubles (US$ 1 904 million) as compared to 71 999 million rubles (US$ 1 038 million) in the six months of 2020. The Company's EBITDA adjusted for exceptional items* in the six months of 2021 was 142 723 million rubles (US$ 1 921 million) as compared 79 156 million rubles (US$ 1 141 million) in the six months of 2020.

Total consolidated assets of the Company increased from 1,263,441 million rubles (US$ 17,101 million) as of 31 December 2020 to 1,383,878 million rubles (US$ 19,122 million) as of 30 June 2021.

Total consolidated liabilities of the Company increased from 431,851 million rubles (US$ 5,845 million) as of 31 December 2020 to 487,194 million rubles (US$ 6,732 million) as of 30 June 2021.

Total consolidated shareholders' equity increased from 831,590 million rubles (US$ 11,256 million) as of 31 December 2020 to 896,684 million rubles (US$ 12,390 million) as of 30 June 2021.

The Company's representatives will discuss the results for the second quarter and six months of 2021 on a videoconference on 1 September 2021 at 4pm Moscow time, 2pm London time, 9am US Eastern time. The videoconference will be open to analysts and investors only. To participate in the videoconference a request should be sent to ir@tatneft.net to obtain access details. The videoconference will be recorded.

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

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.