Statement re Reserves Report

Results of the audit of oil and gas reserves of Tatneft

22 May 2015

On 22 May 2015 OAO Tatneft ("Tatneft") issued a press release stating that based on the results of independent audit by Miller & Lents, Ltd. total proved reserves of Tatneft as of 1 January 2015 are 851 mln 527 ths tonnes (6 065 427 MBbls).

Forward-looking statements: These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials 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. OAO 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.