TATNEFT : Published Interim Accounting (Financial) Statements under RAS for Nine Months of 2020

PJSC TATNEFT published the unaudited interim financial statements (hereinafter referred to as the 'Accounting (financial) statements') for nine months of 2020, prepared in accordance with Russian accounting standards (hereinafter referred to as 'RAS') on the Company's website (http://www.tatneft.ru)

Proceeds from the sale of finished products, works and services net of VAT, export duties and excise taxes for nine months of 2020 amounted to RUB 483,766 million rubles. At the same time, the sale of crude oil under counter supply agreements in the amount of RUB 63,595 million is presented in the report on financial results of the Company's operation for 9 months of 2020 in the compressed format (a decrease in the revenues figure from such operations with a simultaneous decrease in the corresponding costs of purchasing oil), based on the economic content of operations and ensuring comparability with historical data and a unified approach to recording the operations in the accounting (financial) statements of the Company and the consolidated financial statements of the TATNEFT Group. There were no operations of the kind carried out in 2019.

Net profit for the nine months of 2020 amounted to RUB 52,369 million, compared to RUB 149,986 million of the Company's net profit received in the nine months of 2019.

The total asset value of PJSC TATNEFT increased from RUB 816,544 million as of December 31, 2019 to RUB 832,248 million as of September 30, 2020.

The total amount of liabilities decreased from RUB 243,787 million as at 31 December 2019 to RUB 232,016 million as at 30 September 2020.

The equity capital increased from RUB 572,757 million as of December 31, 2019 to RUB 600,232 million as of September 30, 2020.

RAS statements are prepared at the level of the Company and not the consolidated Group. The consolidated financial statements of the TATNEFT Group under IFRS for the 3rd quarter and 9 months of 2020 will be published separately after the completion of the review procedures by the independent auditor.

Forward-looking statements: This press release contains certain statements regarding future events and expectations, which are forward-looking 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.