Tatneft : The credit rating of Tatneft has been affirmed at highest level of ruAAA on national scale with ‘stable’ outlook

Expert RA has affirmed ruAAA credit rating of PJSC Tatneft with stable outlook. This credit rating is the highest on national scale.

Expert RA upon its confirmation of Tatneft's credit rating mentioned, amongst other things, moderately strong risk profile of Tatneft Group, high level of oil and gas reserves, its resilience in comparison with similar companies to changes in market conditions due to high complexity of TANECO refining capabilities, low leverage and strong liquidity position. Expert RA also highlighted the advantages of corporate risk profile of Tatneft supported by high quality strategic planning and corporate governance as well as the level of transparency.

Expert RA's press-release relating to the affirmation of Tatneft's credit rating is available at the agency's website*: https://www.raexpert.ru

* PJSC Tatneft is not responsible for technical functioning, relevance and content of third party websites.

Forward-looking statements:This press-release contains certain statements about future events and expectations that are forward-looking in nature. Any statement in this press-release that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. PJSC Tatneft assumes no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.