Novatek : Notification by persons discharging managerial responsibilities

10 January 2017

Moscow, 10 January 2017.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gennady Timchenko
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	PAO NOVATEK
b)	LEI	-
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
4.1
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares RU000A0DKVS5
b)	Nature of transaction	Return of stock under a loan agreement dated 22/12/15
c)	Price and volume	Price RUB 584.50	Volume 277,303,034
d)	Aggregated information Price Volume Total	584.50 277,303,034 RUB 162,083,623,373.00
e)	Date of transaction	2016-12-22
f)	Place of transaction	Outside a trading venue
4.2
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares RU000A0DKVS5
b)	Nature of transaction	Off-market purchase by director of PAO NOVATEK Gennady Timchenko from VRN S.A.R.L.
c)	Price and volume	Price RUB 783.70	Volume 770,000
d)	Aggregated information Price Volume Total	783.70 770,000 RUB 603,449,000.00
e)	Date of transaction	2016-12-23
f)	Place of transaction	Outside a trading venue

PAO NOVATEK is Russia's largest independent gas producer and the second-largest natural gas producer in Russia. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company's upstream activities are concentrated in the prolific Yamal-Nenets Autonomous Region, which is the world's largest natural gas producing area and accounts for approximately 80% of Russia's natural gas production and approximately 16% of the world's gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation. The Company's shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol «NVTK».