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

The meeting of the Board of Directors of PJSC TATNEFT named after V.D. Shashin chaired by R.N. Minnikhanov, President of the Republic of Tatarstan, was held in Almetyevsk on December 20, 2021.

Results of executing the budget of PJSC TATNEFT for eleven months of 2021 were considered at the meeting and the budget for January and the first quarter of 2022 was approved.

The information on the status of oil and gas projects in the area of oilfield services, geological exploration and oil and gas production outside the Russian Federation was presented to the Board of Directors. TATNEFT resumed geological exploration in Libya, where the Company had 4 contract blocks within the exploration and production sharing agreement. TATNEFT was implementing a service contract with the Turkmennebit State Concern in Turkmenistan, as a result of which the accumulated additional crude oil production amounted to more than 400 thousand tonnes, more than 200 well interventions were carried out, and the works for the repair of electric centrifugal pumps were organized.

The work on looking up and assessment of the prospects for crude oil and gas production projects will be continued and it will be aimed at the sustainable increase in the value of the Company, the Company's resource base, as well as diversification of the Company's geological exploration and crude oil production portfolio of projects in terms of their investment attractiveness.

The meeting participants reviewed the forecast indicators of the Exploration and Production business area for 2022. The Board of Directors decided to ensure the tasks solution of the business block, taking into account external factors and decisions of the OPEC+ cartel.

The Board of Directors decided to transform the Corporate Management Committee under the Board of Directors into the Sustainable Development and Corporate Governance Committee under the Board of Directors.

A number of other issues on the current TATNEFT's activities were also considered at the meeting of the Board of Directors.

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.