NVTK.L Regulatory News (NVTK)

FOR IMMEDIATE RELEASE

 NOVATEK Reports Preliminary Operating Data for the First Quarter 2021

Moscow, 12 April 2021. PAO NOVATEK ("NOVATEK" and/or the "Company") reported today preliminary operating data for the first quarter 2021.

In the first quarter 2021, NOVATEK's hydrocarbon production totaled 158.1 million barrels of oil equivalent (boe), including 20.15 billion cubic meters (bcm) of natural gas and 3,129 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons produced by 7.9 million boe, or by 5.3% as compared with the first quarter 2020.

Preliminary natural gas volumes sold in the Russian Federation were 19.56 bcm, representing an increase of 7.2% as compared with the prior year period, whereas LNG volumes sold on international markets amounted to 1.87 bcm. The total natural gas sales volumes, including volumes of LNG sold, aggregated 21.43 bcm, representing an increase of 3.6% as compared with the first quarter 2020. The decrease attributable to volumes sold on international markets was mainly due to the decrease of Yamal LNG shareholders' share, including NOVATEK's share, of LNG volumes sold on the spot market, and a corresponding increase in Yamal LNG direct sales under long-term contracts.

The Company processed 3,127 thousand tons of unstable gas condensate at the Purovsky Processing Plant, representing an increase of 10.8% as compared with the corresponding volumes processed in the prior reporting period. NOVATEK processed 1,772 thousand tons of stable gas condensate at the Ust-Luga Complex, representing a decrease of 0.8% in volumes processed at the facility in the first quarter 2021.

According to preliminary data, petroleum product sales volumes aggregated 1,613 thousand tons, including 1,022 thousand tons of naphtha, 252 thousand tons of jet fuel, and 339 thousand tons of fuel oil and gasoil. NOVATEK sold 1,020 thousand tons of crude oil and 548 thousand tons of stable gas condensate.

As at 31 March 2021, NOVATEK had 0.1 bcm of natural gas, including LNG, and 713 thousand tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.

NOVATEK's hydrocarbon productionincluding share in production of joint ventures

Natural gas sales volumes, bcm

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Information provided in this press release presents expected results of PAO NOVATEK operations in first quarter 2021. The information represents preliminary assessment only, which can be adjusted after statistical, financial, fiscal and business reporting becomes available. The information on NOVATEK's operational results in this press release depends on many external factors and therefore, provided all permanent obligations imposed by the London Stock Exchange listing rules are unconditionally observed, cannot qualify for accuracy and completeness and should not be regarded as an invitation for investment. Therefore, the results and indicators actually achieved may significantly differ from any declared or forecasted operational results in first quarter 2021. PAO NOVATEK assumes no obligation (and expressly declares that it has no such obligation) to update or change any declarations concerning any future results, due to new information obtained, any future events or for any other reasons.

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For further information, please visit www.novatek.ru or contact:

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PAO NOVATEK is the largest independent natural gas producer 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 Region, 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. The Company's shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol «NVTK».