Company Announcements

FOR IMMEDIATE RELEASE

Results of Noteholders' Consent Solicitation

Moscow, 16 November 2022. PAO NOVATEK ("NOVATEK") announces results of the Consent Solicitation for the outstanding USD 1.0 billion notes (ISIN XS0864383723 - Reg S, ISIN US66989PAC41 - Rule 144A) due December 2022 with annual coupon rate 4.422% ("Notes") issued by Novatek Finance DAC (the "Issuer").

On 24 October 2022, NOVATEK announced a consent solicitation in relation to the Notes on the terms and subject to the conditions set forth in the Consent Solicitation Memorandum dated 24 October 2022 (the "Consent Solicitation Memorandum"). Capitalized terms used, but not defined herein, shall have the meanings given to them in the Consent Solicitation Memorandum.

The Issuer notifies Noteholders that appointment of the new Trustee, Share Trustee as well as a number of amendments to the transaction documents under the Notes, including the Trust Deed, the Paying Agency Agreement and the Loan Agreement were passed at the Meeting of Noteholders held on 15 November 2022. NOVATEK extends its gratitude for the support and cooperation demonstrated by Noteholders which has been reflected in the successful results of the Consent Solicitation.

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Not for release, publication or distribution in or into, or to any person located or resident in, any jurisdiction where it is unlawful to release, publish or distribute this announcement or the Consent Solicitation Memorandum.

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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.