Tatneft : Regular Meeting of the TATNEFT’s Board of Directors Was Held

The first Board of Directors meeting of PJSC TATNEFT was held after the Shareholders' General Meeting Assembly in Kazan on June 29, 2020.

R.N. Minnikhanov, President of the Republic of Tatarstan, was unanimously elected as the Board of Directors Chairman of the TATNEFT Public Joint Stock Company.

The Board of Directors considered results of the budget execution for the five months of 2020 and approved the budget for July and the third quarter of the current year.

The information about the practical implementation of the sustainable development objectives in the activities of the Company was presented to the Board meeting. Having joined the United Nations Global Compact in 2019, TATNEFT had recognized and supported 17 UN goals. There were implementation initiators identified of the further Company's addressing the challenges in the area of sustainable development, who oversaw the work in the following areas: 'good health and well-being', 'quality education', 'clean water and sanitation', 'low-cost and clean energy', 'industrialization, innovation and infrastructure', 'sustainable cities and populated localities', 'responsible consumption and production', 'climate change combating', 'conservation of terrestrial ecosystems' and 'partnership in the best interests of sustainable development'.

The Board of Directors approved three goals as priorities for the integration into corporate business processes: ensuring the availability and rational use of water resources and sanitation for all parties; taking urgent action to combat climate change and its impacts; protection and restoration of terrestrial ecosystems and promotion of their rational use, sustainable forest management, combating desertification, ending and reversing the process of land degradation and ending the process of biodiversity loss.

The Board of Directors reviewed the information on the progress of the Domanik and the Bitumen projects, which TATNEFT was using to create and test technologies for the effective management and development of hard-to-recover reserves (TRIZ). The works at the TRIZ test sites shall be continued as planned.

Members of the Board of Directors considered and approved the Risk Management and Internal Control Policy of PJSC TATNEFT. The risk management and internal control are integrated with each other and into the management system and they are part of the daily work of all the Company's divisions. Each manager and each employee must identify and control risks and plan their actions based on a risk assessment basis to arrive at optimal and rational business decisions aimed at achieving strategic goals and operational results in the relevant business areas and the Company as a whole.

As part of the meeting's agenda, the composition of the committees under the Board of Directors of PJSC TATNEFT was approved, as well as a number of other issues of the Company's activity were considered.

Forward-looking statements and disclaimers: This press release contains certain statements regarding future events and expectations, which are forward-looking statements in nature. Any statement in this press release that is not a historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ materially. PJSC TATNEFT shall assume no obligation to update such forecasts to reflect actual results, changes in assumptions or changes in factors affecting these statements.

The amounts and the interest money indicated or referenced in this press release may be given taking into account the rounding and, accordingly, they may differ from the actual figures and results contained in the Company's reporting documents. PJSC TATNEFT shall assume no obligation to adjust or reimburse any amounts that may make the difference between those specified in this press release and the relevant reporting documents, and all payments shall made by PJSC TATNEFT exclusively in accordance with the decisions of the competent Company's management bodies in the amount and manner specified in such decisions.