For immediate release

NOVATEK Reports Preliminary Operating Data for 2022

Moscow, 16 January 2023. PAO NOVATEK ("NOVATEK" and/or the "Company") reported today preliminary operating data for the twelve months ended 31 December 2022.

In 2022, NOVATEK's hydrocarbon production totaled 638.9 million barrels of oil equivalent (boe), including 82.14 billion cubic meters (bcm) of natural gas and 11.9 million tons of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons produced by 12.6 million boe, or by 2.0% as compared with the twelve months 2021.

Preliminary 2022 total natural gas sales volumes, including LNG, aggregated 76.55 bcm, representing an increase of 1.0% as compared with the corresponding volumes in 2021. The natural gas volumes sold in the Russian Federation were 68.09 bcm, representing an increase of 0.3% as compared with the prior year period, whereas LNG volumes sold on international markets amounted to 8.45 bcm, representing an increase of 6.3%.

The Company processed 13.2 million tons of unstable gas condensate at the Purovsky Processing Plant, representing an increase of 3.3% as compared with the corresponding volumes processed in the prior reporting period. NOVATEK further processed 6.9 million tons of stable gas condensate at the Ust-Luga Complex, the volume thus remaining practically the same as in the previous year.

Preliminary 2022 petroleum product sales volumes aggregated 6.2 million tons, including 3.8 million tons of naphtha, 1.0 million tons of jet fuel, and 1.4 million tons of fuel oil and gasoil. NOVATEK sold 2.9 million tons of crude oil and 3.3 million tons of stable gas condensate.

At the 31 December 2022, NOVATEK had 1.0 bcm of natural gas, including LNG, and 1.2 million tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.

NOVATEK's hydrocarbon production
including share in the production of joint ventures

Natural gas sales volumes, bcm

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Information provided in this press release represents expected results of PAO NOVATEK operations in 2022. The information represents preliminary assessment only, which can be adjusted after statistical, financial, fiscal and business reporting becomes available. The information on PAO 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 results in 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

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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 Area, 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.