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OJSC Severneftegazprom published the financial statements for the 9 months 2021 in accordance with the IFRS

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OJSC Severneftegazprom issued the unaudited interim condensed Financial Information for the nine months 2021 ended September 30, 2021 prepared in accordance with the International Accounting Standard 34 Interim Financial Reporting (IFRS (IAS 34)).

The comprehensive income for the nine months of the year 2021 under IFRS based on the results of financial and economic activities amounted to RUB 3,343 million, which is RUB 999 million or 42.62% higher in comparison with the nine months of the year 2020.

Revenue from gas sales for the reporting period amounted to RUB 32,119 million. The decrease in revenue by RUB 1,400 million, or 4.18% in comparison with the same period of the last year (nine months of the year 2020), is due to a decrease in the gas price, determined by the formula in accordance with the Shareholders Agreement and gas supply contracts.

The cost of sales of commercial gas for the reporting period amounted to RUB 26,864 million, which is lower than the same indicator of 2020 (nine months of the year 2020) by RUB 2,316 million or 7.94%. The decrease was caused mainly by the reduction of mineral extraction tax (MET) by RUB 4,383 million or by 22.22%. The decrease is due to a change in the constituent coefficients in the MET rate calculation and an increase in the share of gas produced from the Turonian gas reservoir.

Due to the increase in provisions and borrowings under the current loan agreement with PJSC VTB Bank, non-current liabilities for the nine months of this year increased by RUB 14,969 million and amounted to 50,181 million rubles.

For the nine months of the year 2021, net assets decreased by 4.54% and amounted to RUB 54,882 million.

Full version of interim condensed Financial Information for the nine months of 2021 ended September 30, 2021 prepared in accordance with IFRS is available at: https://en.severneftegazprom.com/charter-capital-structure/disclosure/reports/