Tatneft Published its IFRS Consolidated Interim Condensed Financial Statements for the Three and Six Months Ended 30 June 2018

PJSC Tatneft (the “Company”) announces today that it published on its web-site (http://www.tatneft.ru/?lang=en) the unaudited consolidated interim condensed financial statements (the “Financial Statements”) for the three and six months ended 30 June 2018 prepared in accordance with International Financial Reporting Standards (“IFRS”) and the related Management Discussion and Analysis of Results of Operations (the “MD&A”).

Selected financial highlights below are based on the respective IFRS financial statements of the Company. These highlights do not replace the Financial Statements or the MD&A and all interested persons are encouraged to read these documents for full understanding of the IFRS results for the three and six months ended 30 June 2018. Russian Ruble amounts below have been translated into U.S. Dollars, for sales and other operating revenues and net profit at the average exchange rate during the respective reporting period and for items of Statements of Financial Position at the exchange rate on the last date of the respective reporting period.

In the six months of 2018 Tatneft Group produced 14.3 million tonnes (101.7 MMbbl) of crude oil and 447.6 million cubic meters of gas. TANECO refinery output in the six months of 2018 was 4.4 million tonnes of refined products.

The Company’s consolidated sales and other operating revenues net of export duties and excise tax in the second quarter of 2018 were 233,988 million Rubles (US$ 3,786 million) as compared to 150,534 million Rubles (US$ 2,634 million) in the corresponding period of 2017. In the six months of 2018 our consolidated sales and other operating revenues net of export duties and excise tax were 422,333 million Rubles (US$ 7,116 million) as compared to 316,979 million Rubles (US$ 5,466 million) in the six months of 2017.

The consolidated profit attributable to Group shareholders in the second quarter of 2018 was 63,164 million Rubles (US$ 1,022 million) as compared to 26,150 million Rubles (US$ 458 million) in the second quarter of 2017. The consolidated profit attributable to Group shareholders in the six months of 2018 was 105,174 million Rubles (US$ 1,772 million) as compared to 61,740 million Rubles (US$ 1,065 million) in the corresponding period of 2017.

Total consolidated assets of the Company increased from 1,107,454 million Rubles (US$ 19,227 million) as of 31 December 2017 to 1,184,294 million Rubles (decreased in US dollar terms to US$ 18,871 million) as of 30 June 2018.

Total consolidated liabilities of the Company increased from 388,725 million Rubles (US$ 6,749 million) as of 31 December 2017 to 396,797 million Rubles (decreased in US dollar terms to US$ 6,323 million) as of 30 June 2018.

Total consolidated shareholders’ equity increased from 718,729 million Rubles (US$ 12,478 million) as of 31 December 2017 to 787,497 million Rubles (US$ 12,548 million) as of 30 June 2018.

The Company’s representatives will discuss the IFRS financial highlights for the three and six months ended 30 June 2018 on a conference call on 31 August 2018 at 15:00 Moscow time, 13:00 London time, 08:00am New York time.