Annual Financial Report

Tatneft published its audited IFRS consolidated financial statements for the year ended December 31, 2013.

2 April 2014

OAO Tatneft (the "Company") announces today that it published on its web-site (http://www.tatneft.ru/?lang=en) the audited consolidated financial statements for the year ended 31 December 2013 prepared in accordance with International Financial Reporting Standards ("IFRS") (the "Financial Statements") and related Directors' report, incorporating the 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 2013 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 the Statements of Financial Position at the exchange rate on the last date of the respective reporting period.

The Company's consolidated sales and other operating revenues net of export duties and excise tax in 2013 were 454,983 million Rubles (US$ 14,285 million) as compared to 444,099 million Rubles (US$ 14,284 million) in 2012. The consolidated profit attributable to Group shareholders in 2013 was 70,832 million Rubles (US$ 2,224 million) as compared to 73,473 million Rubles (US$ 2,363 million) in 2012.

Total consolidated assets of the Company increased from 630,607 million Rubles (US$ 20,764 million) as of 31 December 2012, to 674,089 million Rubles (decreased in US dollar terms to US$ 20,595 million) as of 31 December 2013.

Total consolidated liabilities of the Company decreased from 184,374 million Rubles (US$ 6,071 million) as of 31 December 2012, to 170,107 million Rubles (US$ 5,197 million) as of 31 December 2013.

Total consolidated shareholders' equity increased from 446,233 million Rubles (US$ 14,693 million) as of 31 December 2012, to 503,982 million Rubles (US$ 15,398 million) as 31 December 2013.

The Company's representatives will discuss the IFRS financial highlights on a conference call, details of which will be announced separately.

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. OAO 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.