FOR IMMEDIATE RELEASE

NOVATEK Fulfilled its Obligations on Eurobonds

Moscow, 2 February 2023. PAO NOVATEK ("NOVATEK") announces the fulfillment of its obligations relating to the USD 1.0 billion notes (ISIN XS0864383723 - Reg S, ISIN US66989PAC41 - Rule 144A) with annual coupon rate 4.422% ("Notes") issued by Novatek Finance DAC (the "Issuer").

On 18 January 2023, NOVATEK, having previously fulfilled the Issuer's obligations to the holders of the Notes the rights to which are recorded in Russian depositories (the "Domestic Noteholders"), transferred the remaining interest and principal amount to the account of the Issuer with the Principal Paying Agent (Citibank, N.A. London Branch), which is to be on-transferred by the Principal Paying Agent to the international clearing systems for distribution to the holders of the Notes (other than the Domestic Noteholders) via these systems, and thereby duly fulfilled its obligations under the documents relating to the Notes.

***

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

***

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.