NVTK.L Regulatory News (NVTK)

FOR IMMEDIATE RELEASE

 NOVATEK Reports Preliminary Operating Data for the First Quarter 2022

Moscow, 12 April 2022. PAO NOVATEK ("NOVATEK" and/or the "Company") reported today preliminary operating data for the first quarter 2022.

In the first quarter 2022, NOVATEK's hydrocarbon production totaled 160.0 million barrels of oil equivalent (boe), including 20.64 billion cubic meters (bcm) of natural gas and 3.0 million tons of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons produced by 1.9 million boe, or by 1.2% as compared with the first quarter 2021.

Preliminary total natural gas sales volumes, including volumes of LNG sold, aggregated 21.23 bcm, representing a decrease of 0.9% as compared with the corresponding volumes in the first quarter 2021. The natural gas volumes sold in the Russian Federation were 19.37 bcm, representing a decrease of 0.9% as compared with the prior year period, whereas LNG volumes sold on international markets amounted to 1.86 bcm, representing a decline of 1.0%.

The Company processed 3.3 million tons of unstable gas condensate at the Purovsky Processing Plant, representing an increase of 7.0% as compared with the corresponding volumes processed in the first quarter 2021. NOVATEK further processed 1.8 million tons of stable gas condensate at the Ust-Luga Complex, which is equal to the volumes processed in the first quarter 2021.

Preliminary petroleum product sales volumes aggregated 1,736 thousand tons, including 1,161 thousand tons of naphtha, 229 thousand tons of jet fuel, and 346 thousand tons of fuel oil and gasoil. NOVATEK sold 761 thousand tons of crude oil and 619 thousand tons of stable gas condensate.

At the 31 March 2021, NOVATEK had 0.2 bcm of natural gas, including LNG, and 700 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 the first quarter 2022. 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 the first quarter 2022. 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.