TATNEFT : Board of Directors Summed Up the First Quarter Operation Results of 2021

A regular meeting of the Board of Directors of PJSC TATNEFT chaired by R.N. Minnikhanov, President of the Republic of Tatarstan, was held in Kazan on May 25, 2020.

The meeting reviewed performance results of the Company's budget for four months of 2021 and approved the budget for June, as well as provided information on the status of receivables and payables for the first quarter of the current year.

The Board of Directors got acquainted with the production activities results of TATNEFT Group and the financial performance of PJSC TATNEFT under RAS for the first quarter of 2021. PJSC TATNEFT's net revenue from sales increased by 27 percent to RUB 222 billion; while the net profit - up to RUB 37 billion Compared to the first quarter of 2020.

The participants of the meeting heard the information on the production of high-viscosity and extra-viscous oil (hereinafter referred to as EVO) in the new taxation environment. It is necessary to introduce tax incentives for the production high-viscosity oil and extra-viscous to further expand the project and increase the volume of profitable development of EHV fields.

The Board of Directors got acquainted with the implementation results of the current IT strategy, key projects and main areas of the TATNEFT's digital development of until 2025. The Company implemented over 120 projects and fulfilled over one and a half thousand requests to improve existing IT systems during the period from 2017 to 2020. Inter alia, the main areas of digitalization until 2025 include the introduction of an integrated field development management model, the 'Digital Facility' system of the 'TANECO' complex, a digital sales system of petroleum products through the shipment via railway transport; robotic object control tools; video and predictive analytics based on modeling the capacity of the tyre sales market, etc.

The Board of Directors also considered a number of other issues.

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.