NOVATEK extends share buyback program

On 7 June, 2012, the Company’s Board of Directors approved a one-year buyback program in respect of ordinary shares of NOVATEK and/or Global Depositary Receipts representing Shares (each GDR representing 10 Shares) in the aggregate amount of up to 600 million US dollars.

The terms of the program provide for its extension by a decision of the Management Board. On 27 May, 2014, the Company's Management Board approved the extension of the share buyback program until 7 June, 2015.

Novatek Equity (Cyprus) Limited, a wholly owned subsidiary of the Company, through an independent broker purchases shares and/or GDRs on the Moscow Exchange and the London Stock Exchange (LSE) respectively, at market prices at the time of purchase.

As of 21 May, 2015, 14,191,610 ordinary shares (including in a form of Global Depositary Receipts) have been purchased on the open market as part of the program implementation.

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