Public Joint Stock Gazprom : 3Q 2021 IFRS Results Presentation

GAZPROM: 3Q 2021 IFRS RESULTS

29 NOVEMBER 2021

Alexander Ivannikov

Head of Department

3Q21 IFRS RESULTS

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DISCLAIMER

This presentation has been prepared by PJSC Gazprom (the "Company"), and comprises the slides for a presentation to investors concerning the Company. This presentation does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares or other securities representing shares in the Company, nor shall it or any part of it nor the fact of its presentation or distribution form the basis of, or be relied on in connection with, any contract or investment decision.

Any viewer of this presentation considering a purchase of such securities is hereby reminded that any such purchase should be made solely on the basis of the information contained in the prospectus or other offering document prepared in relation thereto and will be subject to the selling restrictions set out therein. The information in this presentation should not be treated as investment advice. Care has been taken to ensure that the facts stated in this presentation are accurate, and that the opinions expressed are fair and reasonable. However, the contents of this presentation have not been verified by the Company. Accordingly, no representation or warranty, express or implied, is made or given by or on behalf of the Company or any of its members, directors, officers or employees or any other person as to the accuracy, completeness or fairness of the information or opinions contained in or discussed at this presentation. None of the Company or any of their respective members, directors, officers or employees nor any other person accepts any liability whatsoever for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection therewith.

The information in this presentation includes forward-looking statements, such statements may also occur during the Q&A session. These forward-looking statements include all matters that are not historical facts, statements regarding the Company's intentions, beliefs or current expectations concerning, among other things, the Company's results of operations, financial condition, liquidity, prospects, growth, strategies, and the industry in which the Company operates. By their nature, forward-looking statements involve risks and uncertainties, including, without limitation, the risks and uncertainties to be set forth in the prospectus, because they relate to events and depend on circumstances that may or may not occur in the future. The Company cautions you that forward looking statements are not guarantees of future performance and that its actual results of operations, financial condition and liquidity and the development of the industry in which the Company operates may differ materially from those made in or suggested by the forward- looking statements contained in this presentation. In addition, even if the Company's results of operations, financial condition and liquidity and the development of the industry in which the Company operates are consistent with the forward-looking statements contained in this presentation, those results or developments may not be indicative of results or developments in future periods.

The information and opinions contained in this presentation are provided as at the date of this presentation and are subject to change without notice. No person is under any obligation to update or keep current the information contained herein.

By attending the presentation you agree to be bound by the foregoing limitations.

3Q21 IFRS RESULTS

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ESG: 3Q 2021 DEVELOPMENTS

• Gazprom finalised the first stage of elaborating its sustainable development scenarios through 2050 which underpin Gazprom's Climate Roadmap through 2050. The second stage is about to be completed
• Gazprom and the Russian Government signed the Agreement of Intent on the development of hydrogen energy and decarbonisation of the industry and transport on the basis of natural gas
• Gazprom Gazifikatsiya was selected as the single operator of gas infrastructure expansion to significantly fast track consumer connection to gas supply networks
• Three sports and health centres were constructed in St Petersburg under the Gazprom for
  Children program
• The ESG Roadmap seeking to put into action the Sustainability Policy was adopted in 3Q 2021 and is currently at the final stage of internal approval.
• Our ESG ratings* have been lately updated to factor in 2020 results and reflect Gazprom's sustainability progress:

47	36.7	BB			B	Top 10%
* S&P CSA became available on 12 November 2021.	CDP Climate Change 2020 Report.
Sustainalytics ESG Risk Rating Report was published on 22 November	RAEX ESG Corporate Rating was published on 15 November 2021.
2021.
MSCI ESG Rating Report was published on 27 September 2021.					4
3Q21 IFRS RESULTS

EUROPEAN GAS MARKET (1/2)

EUROPEAN1 GAS MARKET

bcm
120
-4%			3Q20 vs 3Q21
100		-5%
80
60	-0.4%
40			-10%
20
0
Demand	Production	Total import	LNG import

3Q 2021 SAW THE EUROPEAN MARKET ADAPT …

• Total import to Europe moderately declined with LNG supplies leading the pace
• Gas demand in power generation slightly went down due to:

• temporary gas-to-coal switch on the back of elevated gas prices
• weather conditions in Europe getting back to historical levels

GAS PRICES (EUROPE vs ASIA)

700

Asia price premium

600 TTF Month Ahead prices

JKM spot prices

mcm/	500
400
USD	300
200
	100
	0

… GAS PRICES WERE AFFECTED BY GLOBAL MARKET

• Stronger demand in Asia (+12% y-o-yin 3Q 2021) supported LNG cargo relocation from west to east
• Inflated freight rates upheld LNG prices regardless the destination
• Renewable energy supply was disrupted in 3Q 2021

1. For the purposes of this presentation, "Europe" means ЕU-27 countries except Baltic states, plus Albania, Bosnia and Herzegovina, UK, North Macedonia, Norway, Serbia, Turkey, Switzerland. Sources: Gazprom Export, Eurostat, national statistics agencies, National Grid, US Department of Energy, International Energy Agency, ENTSOG, Argus, Bloomberg, IHS Markit, S&P Platts.

3Q21 IFRS RESULTS

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