Notification of change of depositary

18 February 2021

PJSC TATNEFT notifies about the change of depositary for its American Depositary Receipts program

Notification of change of depositary

PJSC TATNEFT (the "Company") announces that Citibank, N.A. has replaced The Bank of New York Mellon as depositary for the Company's Level I American Depositary Receipt ("ADR") program (the "ADR Program"), effective as of February 18, 2021.

The Company and Citibank, N.A. (the "Depositary") have amended the Amended and Restated Deposit Agreement dated May 8, 2009 previously entered into with The Bank of New York Mellon by entering into Amended and Restated Deposit Agreement dated February 18, 2021 (the "Deposit Agreement").

PJSC Sberbank will continue to act as the Custodian providing custody of the local underlying shares. The head office of the Custodian is 19 Vavilova Street, Moscow, 117997, Russia.

Holders of the Company's ADRs do not need to take any action in connection with this notice. 

The Company also notified The Bank of New York Mellon about the termination of the Rule 144A Deposit Agreement dated October 6, 2006. Since no depositary receipts are currently outstanding under the Rule 144A Deposit Agreement such termination is effective immediately.

Information regarding the ADRs:

The Company's ADRs are traded on the London Stock Exchange under the symbol "ATAD" and in the U.S. over-the-counter (OTC) market under the symbol "OAOFY". Each ADR represents 6 (six) ordinary shares of the Company. The Company's underlying ordinary shares are listed on the Moscow Exchange and trading under the symbol "TATN".

Information regarding the Depositary:

Citibank, N.A. is a national banking association organized under the United States federal law.

The registered office of the Depositary is located at 388 Greenwich Street, New York, New York 10013, USA.

The Deposit Agreement reflects the replacement of the depositary as well as certain other amendments. A copy of the Deposit Agreement shall be available for inspection at the registered office of the Depositary during normal business hours on any business day in New York City, New York, USA, or may be accessed on the US Securities and Exchange Commission's EDGAR website at www.sec.gov

For more information about Citibank, N.A.'s services relating to the ADRs please visit https://depositaryreceipts.citi.com/.

Forward-looking statements: This press-release contains certain statements about future events and expectations that are forward-looking in nature. Any statement in this press-release 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. PJSC 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.