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

A regular meeting of the Board of Directors of PJSC TATNEFT was held in Kazan on July 27, 2021.

The Board of Directors reviewed the budget execution results for the first half of 2021 and approved the budget for August of the current year.

The information on the progress and the prospects of the TANECO Complex development was presented to the meeting. The Company already invested RUB 441.6 billion into the project implementation. At present, there are 21 technological units operating at the Complex, which makes it possible to manufacture high-quality products and achieve a 99% refining depth of the crude oil processed.

The plans provide for launching four other process units by the end of the year: a delayed coking unit, a gas fractionation unit, a diesel fuel isodewaxing unit and a pilot commercial hydroconversion unit. There are also plans to complete the modernization of the lube oil production unit, which will make it possible to produce the base lube oil of 6 cSt viscosity.

The strategic goal of TATNEFT is to increase the volume of crude oil refining at the TANECO Complex to more than 15 million tonnes per year (starting from 2022), to increase the yield of light oil products to 85% with a refining depth of 99%.

The Board of Directors decided to ensure the construction completion of the planned facilities within the time frame stipulated by the schedule.

The information on the function development of the industrial safety, labor and environmental protection in the TATNEFT Group was presented to the meeting.

When implementing the TATNEFT Group's Strategy until 2030, the Company takes into account global challenges, as well as problems and trends related to the aspects of sustainable development and it is guided by the principles of the corporate social responsibility.

TATNEFT has built a system of accounting for greenhouse gas emissions, which calculations are based on the recommendations of the GreenHouseGas Protocol international standards, and a program has been developed to reduce the greenhouse gas emissions until 2025. The carbon footprint of all innovation and investment projects is assessed using the internal carbon price.

The TATNEFT Group's Environmental Program for 2021-2025 is being implemented to minimize the negative impact on the environment taking into account climatic changes.

In accordance with the best practices in the area of industrial safety, labor and environmental protection, the Company strives to be proactive, develops and applies preventive measures based on a risk-based approach and a way of thinking in all activities and business areas.

The Board of Directors also considered a number of other issues related to the current activities of TATNEFT.

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.