1Q2016 IFRS CONSOLIDATED FINANCIAL RESULTS

AUGUST 10, 2016

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Alexander Ivannikov

Head of the Department

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DISCLAIMERS

This presentation has been prepared by PJSC Gazprom (the “Company”), and comprises the slides for a presentation to investors

concerning the Company. This presentation does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of

any offer to purchase or subscribe for, any shares or other securities representing shares in the Company, nor shall it or any part of it nor

the fact of its presentation or distribution form the basis of, or be relied on in connection with, any contract or investment decision.

Any viewer of this presentation considering a purchase of such securities is hereby reminded that any such purchase should be made

solely on the basis of the information contained in the prospectus or other offering document prepared in relation thereto and will be

subject to the selling restrictions set out therein. The information in this presentation should not be treated as giving investment advice.

Care has been taken to ensure that the facts stated in this presentation are accurate, and that the opinions expressed are fair and

reasonable. However, the contents of this presentation have not been verified by the Company. Accordingly, no representation or

warranty, express or implied, is made or given by or on behalf of the Company or any of its members, directors, officers or employees or

any other person as to the accuracy, completeness or fairness of the information or opinions contained in or discussed at this

presentation. None of the Company or any of their respective members, directors, officers or employees nor any other person accepts

any liability whatsoever for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection

therewith.

The information in this presentation includes forward-looking statements. These forward-looking statements include all matters that are

not historical facts, statements regarding the Company’s intentions, beliefs or current expectations concerning, among other things, the

Company’s results of operations, financial condition, liquidity, prospects, growth, strategies, and the industry in which the Company

operates. By their nature, forward-looking statements involve risks and uncertainties, including, without limitation, the risks and

uncertainties to be set forth in the prospectus, because they relate to events and depend on circumstances that may or may not occur in

the future. The Company cautions you that forward looking statements are not guarantees of future performance and that its actual

results of operations, financial condition and liquidity and the development of the industry in which the Company operates may differ

materially from those made in or suggested by the forward-looking statements contained in this presentation. In addition, even if the

Company’s results of operations, financial condition and liquidity and the development of the industry in which the Company operates

are consistent with the forward-looking statements contained in this presentation, those results or developments may not be indicative

of results or developments in future periods.

The information and opinions contained in this presentation are provided as at the date of this presentation and are subject to change

without notice. No person is under any obligation to update or keep current the information contained herein.

By attending the presentation you agree to be bound by the foregoing limitations.

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1,737

444 362

674

237

1,783

Total net sales Adj. EBITDA Net profit Operating CF Free CF Net debt1 2 3 4

1 EBITDA adjusted by changes in impairment provisions 2 Profit for the period attributed to owners of PJSC Gazprom 3 Free cash flow is calculated as Net cash provided by operating activities less Capital expenditures 4 Compared to Net debt as of December 31, 2015

SUMMARY OF 1Q2016 IFRS FINANCIAL RESULTS

+5%

(5%)

(3%)

(14%)

(24%)

(6%)

1q15 vs 1q16

RR bn

5

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GAZPROM VS PEERS

Top-5 by FCF 1

Source: Companies’ reports, Bloomberg, Factset 1 Free Cash Flow = Net Cash from operating activities – Cash CAPEX 2 Attributed to shareholders 3 Adjusted for prepayments and operations with securities

3,183

0

1 000

2 000

3 000

4 000

5 000

Gazprom Sinopec PetroChina Rosneft PTT

$ mm

Top-5 by net income 2

4,857

0

1 000

2 000

3 000

4 000

5 000

Gazprom Exxon Total Novatek Sinopec

$ mm

3

6

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116,3

89,0 84,5

129,0 112,9

0

50

100

150

200

1q15 2q15 3q15 4q15 1q16

8,8 8,9 9,2 9,1 9,3

0

5

10

15

1q15 2q15 3q15 4q15 1q16

4,1 3,7 3,5

4,1 4,2

0

2

4

6

1q15 2q15 3q15 4q15 1q16

42,1

32,5 29,7

40,8 41,4

0

20

40

60

1q15 2q15 3q15 4q15 1q16

46,4

17,8

8,7

39,0

48,9

0

20

40

60

80

1q15 2q15 3q15 4q15 1q16

Natural gas production Crude oil production Gas condensate production

1. Includes Russian generating companies: Mosenergo, OGK-2, TGK-1, MIPC

Calculations may diverge due to rounding.

bcm mln ton mln ton (3%)

Electricity generation 1 Heat generation 1

bn kWh mln Gcal

+2% +6%

(2%) +5%

HYDROCARBON PRODUCTION, ELECTRICITY AND HEAT

GENERATION

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80

40 31

71 75

3,568 3,493 3,709 3,779 3,873

0

1000

2000

3000

4000

0

20

40

60

80

100

120

140

1q15 2q15 3q15 4q15 1q16

VOLUMES AVERAGE PRICE IN RUSSIA

39 41 45 59 58

284

251 224 229

188

0

100

200

300

0

25

50

75

100

1q15 2q15 3q15 4q15 1q16

VOLUMES AVERAGE PRICE IN EUROPE & OC

GAS SALES

287

139 113

267 292

0

50

100

150

200

250

300

1q15 2q15 3q15 4q15 1q16

NET SALES TO RUSSIA

RR/1 mcm bcm

RR bn

Calculations may diverge due to rounding. 1 Net of value added tax (VAT) 2 OC - Other countries: including LNG sales 3 VAT is not charged on sales 4 Net of custom duties and excise tax on gas exports

543

404 484

735 663

0

200

400

600

800

1q15 2q15 3q15 4q15 1q16

NET SALES TO EUROPE & OC

RR bn

bcm

13 8 6

13 11

213 192

173 182 157

0

100

200

300

400

0

10

20

30

40

1q15 2q15 3q15 4q15 1q16

VOLUMES AVERAGE PRICE IN FSU

156

74 62

138 117

0

50

100

150

200

250

1q15 2q15 3q15 4q15 1q16

NET SALES TO FSU

bcm USD/1 mcm USD/1 mcm

1

Russia Europe & OC2 FSU

3,4 3,4

RR bn

+2% +22% (25%)

8

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26%

66%

8%

OIL AND ENERGY BUSINESS

Calculations may diverge due to rounding. 1 Net of value added tax (VAT), excise tax and custom duties.

Net Sales1

424 468 467 456

413

0

100

200

300

400

500

1q15 2q15 3q15 4q15 1q16

133

85 74

133 148

0

30

60

90

120

150

180

1q15 2q15 3q15 4q15 1q16

RR bln RR bln

+11%

1Q2015 1Q2016

(3%)

Electric and heat energy Crude Oil and Gas Condensate; Refined Products

24%

68%

8%

CRUDE OIL AND GAS CONDENSATE; REFINED PRODUCTS

GAS BUSINESS AND OTHER REVENUES

ELECTRIC AND HEAT ENERGY

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1,397 1,262

1,641

444 437

0

400

800

1200

1600

2000

2013 2014 2015 1q15 1q16

Cash CapEx

RR bn

1 CapEx breakdown as provided in Management Report

CAPITAL EXPENDITURES

-10%

+30%

-2%

44%

10%

27%

9%

4% 6%

TRANSPORT

PRODUCTION OF NATURAL GAS

PRODUCTION OF CRUDE OIL AND GAS CONDENSATE

REFINING

ELECTRIC AND HEAT ENERGY

OTHER CAPEX

Group’s CapEx breakdown1

43.9

33.2

27.1

7.1 5.9

0

10

20

30

40

50

2013 2014 2015 1q15 1q16

USD bn

-24%

-19%

-18%

10

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SUSTAINABLE FREE CASH FLOW GENERATION

Free Cash Flow1

Gazprom self funding2

1 Free Cash Flow = Net Cash from operating activities – Cash CAPEX 2 Net Cash from operating activities /Cash CAPEX

(6%)

252

-52

29

160

237

-100

-50

0

50

100

150

200

250

300

350

1q15 2q15 3q15 4q15 1q16

157%

85%

108%

134%

154%

0%

50%

100%

150%

200%

1q15 2q15 3q15 4q15 1q16

RR bn

11

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22% 18% 17% 19% 20%

19% 13% 15% 14% 14%

33%

36% 36% 42% 45%

26% 33% 32%

25% 22%

2012 2013 2014 2015 1q16

LESS THAN 1 YEAR 1-2 YEARS 2-5 YEARS MORE THAN 5 YEARS

KEY DEBT METRICS

Debt maturity profile2

Cost of debt financing

SOURCE: BLOOMBERG, COMPANY DATA

Total and Net Debt

Gazprom credit ratings Moody's

A- A3 BBB+ Baa1 BBB Baa2 BBB- Baa3

BB+ Ba1 BB Ba2 BB- Ba3

B+ B1

Dagong,

S&P, Fitch

A A2 A+ A1

AA Aa AAA Aaa

Jan

2004

Jan

2005

Jan

2006

Jan

2007

Jan

2008

Jan

2009

Jan

2010

Jan

2011

Jan

2012

Jan

2013

Jan

2014

Jan

2015

Jan

2016

S&P MOODY'S FITCH

DAGONG INVESTMENT GRADE

6.36%

4.01%

5.65%

0

2

4

6

8

10

2008 2009 2010 2011 2012 2013 2014 2015 1q16

WEIGHTED AVERAGE FIXED INTEREST RATE

WEIGHTED AVERAGE FLOATING INTEREST RATE

WEIGHTED AVERAGE INTEREST RATE

%

1,075 1,113 1,651

2,083 1,783

426 689

1,038

1,359 1,565

0,7

0,5 0,6

0,9

1,0

0,0

0,3

0,6

0,9

1,2

0

1000

2000

3000

4000

5000

2012 2013 2014 2015 1q16

NET DEBT

CASH&CASH EQUIVALENTS NET DEBT/ADJ.EBITDA LTM

RUB bn x

1

1 Calculated using dollar values of Net debt and EBITDA 2 Excluding promissory notes

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Amount Coupon Maturity Transaction date Achievements

€350mm EURIBOR + 2.75% 1.5 years January 2015

• The first bilateral loan agreement in the business

relationship between Gazprom and Intesa Sanpaolo Group

• Is of great importance for the development of partnership

with credit institutions of Italy and the entire Europe

$500mm LIBOR + 3.25% 3 years April 2015 • Syndicated loan with JP Morgan as bank agent

• Asian banks participated

€150mm EURIBOR + 3.6% 4 years June 2015 • Loan from Intesa Sanpaolo S.p.A. bank

€300mm EURIBOR +3.6% 4 years July 2015 • Loan from UniCredit Bank Austria AG

$1,500mm LIBOR +3.5% 5 years August 2015 • Syndicated loan with China Construction Bank Corporation

as bank agent

€1,000mm 4.625% 3 years October 2015 • Public international debt offering under EMTN programme,

lead managers - Banca IMI S.p.A., J.P. Morgan, UniCredit

Bank, placement without new issue premium

€2,000mm EURIBOR +3.5% 5 years March 2016

• Facility agreement with Bank of China

• The largest deal in terms of the amount of financing

attracted directly from one financial institution and the first

bilateral loan facility agreement with a Chinese bank

CHF500mm 3.375% 2.5 years March 2016 • Public international debt offering under EMTN programme,

lead managers - Deutsche Bank AG Zurich branch,

Gazprombank (Switzerland) Ltd and UBS AG

SUCCESSFUL PERFORMANCE IN DEBT CAPITAL MARKETS

Recent transactions by PJSC Gazprom

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ADDITIONAL INFORMATION

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14

RUSSIAN NATURAL GAS BALANCE

Bcm 1Q2015 1Q2016

Natural gas resources 195.7 203.0

Domestic gas production 169.7 169.6

Other sources including Central Asian and Azerbaijani gas 5.8 5.7

Gas withdrawn from underground storage in Russia, Latvia and Europe 19.2 26.7

Decrease in the amount of gas within the gas transportation system 1.0 1.0

Natural gas distribution 195.7 203.0

Domestic consumption 143.1 143.0

including needs of the gas transportation system

and underground storages 8.5 8.9

Gas pumped into underground storages 0.1 0.01

Gas for LNG production 4.0 3.5

Foreign supplies 35.5 45.0

FSU supplies 11.9 10.3

Increase in the amount of gas within the gas transportation system 1.1 1.1

Source: Company Operating Data

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THANK YOU FOR ATTENTION!