Result of Meeting

FOR IMMEDIATE RELEASE

Results of NOVATEK's Extraordinary General Meeting of Shareholders

Moscow, 3 October 2016. OAO NOVATEK announced today the results of its Extraordinary General Meeting of Shareholders ("EGM") held on 30 September 2016 summarizing the results of the first half 2016.

The EGM resolved the following agenda items:

· Approved the interim dividend payment for the first half 2016;

· Approved amendments to NOVATEK's Charter; and

· Approved amendments to NOVATEK's internal regulatory documents.

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

Press Service Investor Relations

+7 (495) 721 2207 +7 (495) 730 6013

[email protected] [email protected]

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OAO NOVATEK is Russia's largest independent gas producer and the second-largest natural gas producer in Russia. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company's upstream activities are concentrated 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 16% of the world's gas production. NOVATEK is an open joint stock company established under the laws of the Russian Federation. The Company's shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol «NVTK».