0

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255,204,153

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Gas for the Future

February 2013

Gazprom Investor Day

1234425-001_Gazprom_Investor_Day_combined.pptx

1

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Disclaimer

This presentation has been prepared by OJSC 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.

No reliance may be placed for any purposes whatsoever on the information contained in this presentation, or any other material discussed at any

presentation or on its completeness, accuracy or fairness. 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.

2

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We are Global Energy Major

Investor Day 2013

China

Taiwan

Republic of Korea

Japan

European

Countries

One of the leading energy companies

6 tcm of gas sold on domestic market

11 tcm of gas produced

447mm tons of oil and gas condensate

produced

31 thousand km of new pipelines built

Owner of the largest gas transportation system

The major natural gas supplier to Russian, FSU and

European markets

4 tcm of gas exported

7.2 tcm of new gas reserves discovered

856 mm tons of oil and gas condensate

reserves discovered

Gazprom Activity in Russia and Abroad

Hydrocarbons search and geological exploration

Gas and gas condensate production

Oil production

Projects of methane production from coal beds

Raw hydrocarbons processing

Gas transportation

Gas underground storage

Electric power and heat generation

Spot sales of LNG

Sales of gas, supplied by gas trunk pipelines

Gas sales to end-consumers

Oil and gas condensate sales

Refined products sales

Electricity sales

Oil products distribution through gasoline stations network

FSU countries Russia

Cuba

Venezuela Bolivia Algeria Equatorial

Guinea

Libya Iraq Kuwait UAE

(Dubai)

India Thailand Vietnam

Achievements for 20 years

3

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Gazprom was established as an Open Joint Stock company

Gazprom acquired Gazprom neft (formerly Sibneft)

Gazprom entered into the energy business (consolidated under Gazprom Energoholding ) 1973

1993

2005

2007-

2009

Gas

100%

Gas(1)

61%

Liquid

hydrocarbons

32%

Energy

7%

1993

Gazprom revenue structure

1. Including gas transportation other revenues

2012 First Russian

gas was

delivered to

Europe

History of Business Diversification

Investor Day 2013

The largest natural gas exporter to the

European market

A major player in the international oil trade

The leader in the installed capacity and

electric power generation in Russia

4

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Agenda

Investor Day 2013

Export

Alexander Medvedev

Deputy Chairman of Gazprom Management Committee

CEO of Gazprom Export

Strategy

Finance

Dmitry Lyugai

Member of Gazprom Management Committee

Head of the Prospective Development Department

Andrey Kruglov

Deputy Chairman of Gazprom Management Committee

Head of the Department for Finance and Economics

Gazprom Neft Gazprom Power Generation

Denis Fedorov

Head of Gazprom Directorate for Development of Power

Generation Sector and Power Generation Marketing

General Director of Gazprom Energoholding

Alexei Yankevich

Member of the Management Board of Gazprom Neft

Deputy CEO for Economics and Finance

of Gazprom Neft

4

Presentation of gas business

Upstream

Vsevolod Cherepanov

Member of Gazprom Management Committee

Head of the Gas, Gas Condensate

and Oil Production Department

Special sections

5

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5 Investor Day 2013

Part 1. Strategy

Dmitry Lyugai

Member of Gazprom Management Committee

Head of Prospective Development Department

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Gas Demand 2030

Share of gas in global energy consumption

0%

20%

40%

60%

80%

100%

1970 2000 2030F

16% 21%

26%

1.3

1.1

0.7

0.7

0.6

0.2 0.2

2010 2030F

– Asia/Oceania

– North America

4.8 tcm

– Latin America

– Europe(2)

– FSU(3)

– Africa

– Middle East

3.2 tcm

1. Cubic meter 8,850 kcal

2. Including Baltic States

3. Excluding Baltic States

Gas consumption by region(1)

Strategy - Investor Day 2013

Source: International Energy Agency, Company’s estimates

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Strategy - Investor Day 2013

Gas import/export in 2030

Growth of gas consumption and production in 2010/2030

(600)

(300)

0

300

600

900

North America Europe CIS Asia Middle East Africa Latin AmericaConsumption Production

bcm

Import

(600)

(300)

0

300

600

900

North America Europe CIS Asia Middle East Africa Latin America

bcm

5.5

Global Gas Import/Export in 2030

Source: Company’s estimates

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0

100

200

300

400

500

600

700

2008-2013/15 2013/15-2020/22 2020/22-2030

Energy efficiency

Energy savings

Russian Gas Market

Strategy - Investor Day 2013

– Russian Energy Strategy 2030 forecast (Nov. 2009)

– Current estimates

Annual economic growth of Russia 3-5%

Gasification of European part of Russia

New infrastructure and market development

in Eastern Siberia and the Far East

Gas Consumption Factors

bcm

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0

100

200

300

2010 2020F 2030F0

100

200

300

2010 2020F 2030F

0

100

200

300

2010 2020F 2030F

0

100

200

300

2010 2020F 2030F

Prospective Sources of Gazprom’s Gas Production

Strategy - Investor Day 2013

Share of Gazprom’s reserves ~18%

in the world gas reserves,

production ~ 15%(1)

Gazprom’s share in Russian

gas reserves ~72%, in production ~ 78%(1)

Gazprom’s gas reserves

of categories А+В+С1 35.1 tcm(1)

Shtokman Eastern Siberia and the Far East

New fields in Nadym-Pur-Taz

Yamal

bcm

High case

1. As for YE2011

0

100

200

300

400

500

600

700

800

2010 2020F 2030F

Shtokman Project

Eastern Siberia and the FarEastYamal Megaproject

New fields in Nadym-Pur-Taz

Currently producing projects

high case

2030F

Source: Company’s estimates

800

700

600

500

400

300

200

100

0 2010 2020F 2030F 2030F

Shtokman project

Eastern Siberia and the Far East

Yamal megaproject

New field in Nadym-Pur-Taz

Currently producing projects

High case

High case

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Existing Under construction Planned

Gazprom’s Priority Projects in Transportation

Project Length,

km

Linear part Compressor

station Capacity, bcmpa

km Ø,

mm P,

MPa unit MW

Gryazovets – Vyborg

917 1,596 (incl.

looping) 1,420/1,220 9.8 6+1 947+208 59

Bovanenkovo – Ukhta

1,110 1,266 1,420 11.8 2+7 224+884 115

(2 lines)

Ukhta – Torzhok 1,362 972+390 1,420 9.8 2+9 100+769 35/45

South Stream 930 930 813 27.5 - - 63

(4 lines)

GTS expansion to ensure gas supplies to the South Stream

2,956 2,481 1,400/700 7.4/11.8 10 1,549 63

XXXX – already built, XXXX – under construction/planned

Strategy - Investor Day 2013

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Development of Gazprom’s Business

in East Siberia and the Far East

Strategy - Investor Day 2013

GAS RESERVES

AND RESOURCES

~ 60 tcm

Eastern Gas Program was approved by the Russian Government in 2007

Surgut

Balagansk

Irkutsk Ulan-Ude

Chita

Zabaykalsk

Skovorodino

Tinda

Blagoveshensk

Daqing

Komsomolsk-

na-Amyre

Habarovsk Sovgavan

Vladivostok

Uzhno-Sakhalinsk

Oha

SAKHALIN

CENTER

Udachmiy

Mirniy RUSSIA YAKUTSK

CENTER KRASNOYARSK

CENTER

NORTH OF THE

TYUMEN

REGION

KAZAKHSTAN

MONGOLIA

CHINA

Lanzhou

Xian

Xinyang Shanghai

Kitakyusyu

Osaka

JAPAN

N. KOREA

S. KOREA Busan

Dalian

Shenyang

Beijing

Pyongyang Seoul

Tokyo Ulan-Bator

Pipeline gas

Yakutsk

Tyumen CS Bogandinskay

Chelabinsk Proskokovo Tomsk

Novokyznetsk

Abakan Barnayl

Biysk Gorno-Altaisk

Boguchani Krasnojarsk

Omsk Kemerovo Novosibirsk Taishet

Gas-production centre

LNG

LNG plant

12

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1%

25%

22%

14%

8%

14%

16%

2013-2020

Gas CAPEX 2013-2030F

Strategy - Investor Day 2013

1.UGS is underground gas storage UGSS is unified gas supply system

7%

28%

19%10%

8%

11%

16%

Shtokman project

Yamal Megaproject

Eastern Siberia and the Far East

Transport System Development (incl. UGS)

Reconstruction in Transport

Currently existing projects in Production

Other projects within UGSS

2013-2030

Structure of CAPEX by business segment

EXPLORATION

PRODUCTION

TRANSPORT

(incl. UGS(1))

PROCESSING

OTHER

47 %

31 %

6 %

8 %

8 %

700-900 bn RR p.a.

(exploration; new production and

drilling)

(average annual)

Structure of CAPEX by major project

I

Gas Industry Mineral Resource Base Development Program until 2035

II

Work program aimed at hydrocarbon resources development on the Russian Federation shelf until 2030

III

Eastern Gas Program

IV

Strategic target indicators of Gazprom’s development approved by the Board of Directors

Gazprom’s base documents in the area of mineral-resource base and HC production

Dynamics of production and gas reserves increment

NPTR Yamal Nord Stream

Eastern Program

Shtockman South Stream

522.0 540.2 545.1 555.0 556.0 546.8 547.5 459.4 505.6 513.2

95.6

79.0 69.4

104.8 105.7 107.9 106.2 102.0 108.2

133.8

0

20

40

60

80

100

120

140

0

200

400

600

800

1,000

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Gas production % of gas reserves replenishmentbcm

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Investor Day 2013

Part 2. Upstream

Vsevolod Cherepanov Member of Gazprom Management Committee

Head of the Gas, Gas Condensate and Oil Production Department

14

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2012 Geological Exploration Results

Upstream - Investor Day 2013

Gazprom72%

Gazprom18%

Discovery of 3 new fields discovered and 10 new deposits within previously

discovered fields

Natural Gas, tcm Gas Condensate, extracted, mm tons Crude Oil, extracted, mm tons

АВС1(1) С2

(2) АВС1(1) С2

(2) АВС1(1) С2

(2)

35.1 8.6 1,382.2 772.9 1,763.7 1,592.1

1. ABC1 reserves - explored reserves according to the Russian standards of classification. Explored gas reserves (categories ABC1) are considered fully recoverable. For oil and gas condensate reserves special index of

extraction is used. This index is calculated taking into account geological and technical factors

2. C2 reserves belong to the estimated ones and serve as a basis for setting up exploration work at a specific field

2012 Reserves Summary

Reserves increase:

Change in : Natural Gas,

bcm

Gas Condensate

& Crude Oil, mm tons

АВС1 reserves as result of geological Exploration 572.6 27.9

С2 reserves as result of geological Exploration 100.1 22.9

44 exploration wells drilled – 74.8 thousand meters of earth material (drilled)

Reserves replacement ratio – 118%

Geological exploration activities:

8%

Unallocated

fund

Independent

Producers

20%

Global gas reserves

Russian gas reserves

15

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Summary Gas Reserves Information

Upstream - Investor Day 2013

29.9 29.8

33.1 33.6 33.1 35.1

27.9 28.4 29.2 29.9 30.6

31.7

20.8 20.8 21.3 21.9 22.5 22.8

208.6

230.3 230.1 241.4

269.6

299.2

0

40

80

120

160

200

240

280

320

0.0

10.0

20.0

30.0

40.0

50.0

60.0

31-12-06 31-12-07 31-12-08 31-12-09 31-12-10 31-12-11

Gazprom Group gas reserves (ABC1) Audited АВС1 reserves

Proved + probable reserves (PRMS) Present Value (incl. liquid hydrocarbons, sulfur and helium)

tcm USD bn

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1,690 1,690 1,690

1,400

1,450

1,500

1,550

1,600

1,650

1,700

0

100

200

300

400

500

600

700

2012 est. 2013 plan 2014F 2015F

Yamal

Zapolyarnoye field (Cenomanian+ Valanginian)

Medvezhye field - Cenomanian

Yamburgskoye field - Cenomanian

Urengoyskoye field - Cenomanian

Other fields of Nadym-Pur-Taz region

Other regions

Max av. daily production per annum

bcm mmcm/day

487.0 495.7 518.0 518.0

Gazprom production 2012-2015

Gazprom main production regions

Yamal

Nadym-Pur-

Taz Yakutsk

gas

production

center

Sakhalin

gas

production

center

Irkutsk gas

production

center

Comprehensive gas

processing units/

total designed capacity

Gas pumping units/

total designed capacity Wells

2013

2 units /6.0 bcm p.a. 2 units / 50.0 MWh 73 wells

2014

2 units / 30.0 bcm p.a. 5 units / 401.0 MWh 168 wells

2015

2 units / 2.3 bcm p.a. 11 units / 579.8 MWh 138 wells

Capacities commissioning forecast

Production Strategy

Upstream - Investor Day 2013

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Yamal Megaproject

Upstream - Investor Day 2013

Bovanenkovskoye field

0

20

40

60

80

100

2012 est. 2013 plan 2014F 2015F

Production forecast

С1+С2 Reserves 8.6 tcm of gas 1530 mln bbl of condensate

Peak annual production 220 bcm of gas 30 mln bbl of condensate

Tambeyskoye industrial zone

С1+С2 Reserves 3.9 tcm of gas 1430 mln bbl of condensate

Peak annual production 65 bcm of gas 21 mln bbl of condensate

Yuzhnaya industrial zone

С1+С2 Reserves 1.4 tcm of gas 4300 mln bbl of oil

Peak annual production 30 bcm of gas 50.4 mln bbl of oil

Bovanenkovskoye industrial zone

bcm

Combined CAPEX for Yamal Program development(1)

2013 F 2014 F

USD 5.9 bn USD 9.3 bn

KARA SEA Rusanovskoye

Leningradskoye Malyginskoye

Taslyskoye

Syadorskoye

Kharasaveyskoye

Kruzenshternovskoye

Bovanenkovskoye

Verhne-

Tiuteyskoye

Vostochno-

Bovanenkovskoye Nerstinskoye

Neytinskoye

Arcticheskoye

Baidarata

Bay

YAMAL PENINSULA

Sredneyamalskoye

Nurminskoye

Khambateyskoye

Novoportovskoye

Kamennomysskoye

more Obskoye

Parusovoye

OB BAY

TAZ BAY

Semakovskoye

Teta-Yakinskoye

Antipayutinskoye

Severo-Urengoyskoye YAMBURG

TAZOVSKIY

Tchugoriakhinskoye Severo-

Kamenomysskoye

GYDAN BAY

Severo-Tambeyskoye

Zapadno-Tambeyskoye

Yuzhno-Tambeyskoye

Zapadno-

Seykhinskoye

Operating gas pipelines

Projected gas pipelines and gas pipelines under construction Continental fields Shell fields

Wells, well clusters

Comprehensive gas processing unit

1. Data are converted using USD/RR forward exchange rates for Dec 31, 2013 (31.60) and Dec 31, 2014 (33.17) as of Feb 06, 2013

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0

2

4

2013 plan 2014F 2015F

Kirinskoye field

Production forecast bcm

Eastern Gas Program

Upstream - Investor Day 2013

Yakutsk gas production center - Chayandinskoye field

С1+С2 Reserves 1.4 tcm of gas 160 mln bbl of condensate

Peak annual production 25 bcm of gas 3 mln bbl of condensate

С1+С2 Reserves 746.3 bcm of gas 700 mln bbl of condensate

Peak annual production 13 bcm of gas n/a

Krasnoyarsk gas production center - Sobinskoye field

С1+С2 Reserves 154.9 bcm of gas 63 mln bbl of condensate

Peak annual production 5.0 bcm of gas 3 mln bbl of condensate

С1+С2 Reserves 1.5 tcm of gas 575.3 mln bbl of condensate

Peak annual production 35.3 bcm of gas 17 mln bbl of condensate

Irkutsk gas production center - Kovyktinskoye field

Sakhalin gas production center

Combined CAPEX for Eastern Program development(1)

2013 F 2014 F

USD 1.7 bn USD 0.2 bn

SAKHALIN

CENTER

IRKUTSK

CENTER

KRASNOYARSK

CENTER

NORTH OF

THE

TYUMEN

REGION

MONGOLIA

CHINA

KAZAKHSTAN

JAPAN NORTH

KOREA SOUTH

KOREA

BEIJING

PYONGYANG

TOKYO ULAN-BATOR

Operating LNG plants

Pipelines under construction

Operating gas pipeline

LNG plants under construction in Vladivostok

Projected gas processing plants

Gas production center

Blagoveshensk

Khabarovsk

Oha

Uzhno-Sakhalinsk

YAKUTSK

CENTER

Tomsk CS Bogandinskaya

Tyumen

Chelabinsk

Surgut

Omsk

Proskokovo

Barnaul Novokyznetsk

Taishet

Boguchani

Irkutsk

Ulan-Ude

Skovorodino

Tinda

Zabaykalsk

Chita

Shanghai Xinyang Xian

Lanzhou

Kitakyusyu Busan

Osaka

Shenyang

Daqing

Sovgavan

Komsomolsk-na-

Amyre

KAMCHATSK

CENTER

Petropavlovsk-

Kamchatsky Udachniy Yakutsk

Novoisbirsk Kemerovo Achinsk

Krasnoyarsk

Abakan

Kansk

Sayansk

Mirniy

Biysk Gorno-Altaisk

Balagansk

1. Data are converted using USD/RR forward exchange rates for Dec 31, 2013 (31.60) and Dec 31, 2014 (33.17) as of Feb 06, 2013

19

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Investor Day 2013

Part 3. Export

Alexander Medvedev Deputy Chairman of Gazprom Management Committee

CEO of Gazprom export

20

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2009 2010 2011 2012E 2012/11, %

Consumption (bcm) 565.2 609.8 556.0 542.9 (2.4)%

Indigenous production (bcm) 307.0 311.6 288.4 291.5 1.1%

Imports(1) (bcm) 258.2 298.2 267.6 251.5 (6.0)%

(10)%

(5)%

0%

5%

10%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

European Natural Gas Market Dynamics

Export - Investor Day 2013

European Gas Consumption and Imports in 2012

Source: International Energy Agency, Eurostat, Gazprom Export. Gas calorific value: 1cm = 37 MJ

Gas burned

for electricity

~ (11)%

Industrial

production

(2)%

Weather index

3%

Industrial Production Index on Key Markets

Source: National Statistics Authorities

Net Heating & Cooling Degree Days(2)

1. Including balance of gas storage

2. Relation to 12-year average

(15)

(10)

(5)

0

5

10

15

20

Jan-

11

Apr

-11

Jul-1

1

Sep

-11

Dec

-11

Mar

-12

May

-12

Aug

-12

Nov

-12

Germany UK Italy France Turkey

Source: Gazprom Export (based upon annualized HDD/CDD for Europe)

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0

100

200

300

400

500

600

700

800

900

20

09

20

10

20

11

20

12

20

13

20

14

20

15

20

16

20

17

20

18

20

19

20

20

20

21

20

22

20

23

20

24

20

25

20

26

20

27

20

28

20

29

20

30

20

31

20

32

20

33

20

34

20

35

Produstion consensus forecast Consumption consensus forecast

+110 bcma +115 bcma

Projected Gazprom European Market Share

Source: Consensus projections derived from consultants, companies and governmental bodies

Gazprom Sales in European and CIS Markets

Export - Investor Day 2013

2012

1. European countries including Turkey except for CIS and Baltics

2020F

30%

70%

Gazprom Other Suppliers

2030F

The Gap is Widening Between European Indigenous Production and Consumption

26%

74%

32%

68%

138.6 .150.0

138.8 151.8

2010 2011 2012E 2013F

Gazprom Gas Deliveries to Europe(1) Gazprom Gas Deliveries to CIS and Baltics

bcm

USD/mcm $302

$383

$402

68.0 71.1

64.4

74.8

2010 2011 2012E 2013F

$308 $298

$235

bcm

USD/mcm

bcm

Source: Gazprom estimates

22

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255,102,000

255,204,000

255,204,153

191,191,191

102,163,224

Hubs Liquidity

Hybrid Pricing - Cornerstone of the European Market

Hubs in Continental Europe are not ready

to take over for oil-indexed contracts

A large portion of natural gas traded on

hubs comes from long-term oil-indexed

contracts

Hubs do not reflect total supply and

demand on the market

Long-term difference between hubs and

long-term contracts prices is combined

value of flexibility and security

TTF and even NBP have strong correlation

with Gazprom Prices (with coefficients of

0.79 and 0.75, respectively)

The Hybrid model, which has been in

existence for a number of years, fully

reflects the reality and needs of the

European market

Source: BMWi, Bloomberg

Differentials of Hub and Contract Prices

0

5

10

15

20

25

NBP (UK) Zeebrugge(Belgium)

TTF(Netherlands)

PSV (Italy) PEG (France) GASPOOL(Germany)

CEGH(Austria)

NCG(Germany)

2007 2008 2009 2010 2011 Q1-3 2012

Source: CERA based on data provided by TSOs

0

2

4

6

8

10

12

14

Jan-

08

Apr

-08

Jul-0

8

Oct

-08

Jan-

09

Apr

-09

Jul-0

9

Oct

-09

Jan-

10

Apr

-10

Jul-1

0

Oct

-10

Jan-

11

Apr

-11

Jul-1

1

Oct

-11

Jan-

12

Apr

-12

Jul-1

2

Oct

-12

Jan-

13

BAFA import price, Germany TTF (ENDEX), 1st month

USD per mmbtu

Export - Investor Day 2013

23

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255,204,000

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European Regulators Policy in Gas Price Setting

Export - Investor Day 2013

Promotion of unfair competition

(“free-riding”)

Governments or regulators artificially setting spot

indexation

USD per mcm

Hub Prices

Contract Prices

National regulators

Importers End-users

Introduction

of spot

component in

end-user price

Obligation

to sell gas at

hub-based price

“Free riders” produce no gas and have no import contracts.

They do not pay full cost for gas storage and structuring

of deliveries

Low price

24

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Gas is the Best Fossil Fuel and the Cheapest Pathway

to Reach CO2 Reduction Targets in the EU

Export - Investor Day 2013

Cost Savings 2010-2030 (2010€)

‘Optimised’ pathways offer cost savings of about €500 billion in period

2010 to 2030 (under a high gas price scenario)

Even higher savings under low gas price scenario about €700 billion

Source: European Gas Advocacy Forum

1. High gas price scenario, 14 euro/mmbtu in 2030

2. Low gas price scenario, 9 euro/mmbtu in 2030

0

200

400

600

800

CPI fuel price/high gas price Low fossil fuels/low gas price

Transport Residential Power sector

€bn

(1) (2)

25

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Gazprom Group LNG

Fleet:

3 LNG Vessels

on charter

4 newbuilds on term

charters currently

under construction

(delivery in

2013-2014)

6 out of 7 vessels are

Ice Class - as of

today, Gazprom

Group controls the

largest Ice Class LNG

fleet in the world

Gazprom Group LNG Portfolio Diversification

Export - Investor Day 2013

up to 25

mtpa

Gazprom Group LNG portfolio origin

Loading sites

Gazprom Group LNG supply destinations

New Russian supply

30 + mtpa

Shipping Highlights

26

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Target markets

CNG light and medium duty vehicles

LNG heavy duty road transport

LNG bunkering

NGV markets

LNG bunkering

Demand expectations in Europe (2030)

CNG 14-27 bcm for light and heavy duty transport + buses

LNG 12-18 bcm for buses + heavy duty transport

LNG 9-11 bcm for bunkering

Aims to 2030 for Gazprom

10% share of the LNG for transport market

10% share of the developed CNG markets

25% share of the developing CNG markets

Russian production plants,

European SSLNG Hubs

Strategy in Small Scale LNG Market

Export - Investor Day 2013

Kalinigrad

Portovaya

NE-Europe

Hub

Dzhugba

NW-Europe

CNG 1-7 bcm

LNG 3-4 bcm

SE-Europe

CNG 3-5 bcm

LNG 3 bcm

LNG bunkering Mediterranean 3 bcm

Bunkering

3-4 bcm

NE-Europe

CNG 5-8 bcm

LNG 3-5 bcm

SW-E Hub

0.5 mtpa

3-4 bcm

SW-Europe

CNG 5-7 bcm

LNG 3-6 bcm

27

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Investor Day 2013

Part 4. Finance

Andrey Kruglov Deputy Chairman of Gazprom Management Committee

Head of the Department for Finance and Economics

28

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1. Converted using the annual average exchange rate as of the respecting period 2. Adjusted EBITDA is defined as operating profit before depreciation and changes in assets, impairment provision (impairment of accounts receivable and prepayments, assets under construction, investments and

other long-term assets, inventory) 3. Data are converted in USD using exchange rate as of the end of the respecting period 4. Net of custom duties and VAT 5. Excluding capitalized interest 6. Oil & Gas Majors are the top 10 oil and gas companies by market capitalization as of the beginning of 2013, excluding Gazprom

2010 2011 9m’11 9m’12 2012E

Total sales revenue(1)(4) USD bn 118.4 158.0 114.7 107.9 150

Adj. EBITDA(1)(2), USD bn 44.9 65.8 47.9 35.6 53

Adj. EBITDA margin 38% 42% 42% 33% 36%

Net income(1), USD bn 31.9 44.5 32.1 26.2 38

Total debt(3), USD bn 43.2 47.8 44.9 52.8 49.5

Free cash flow(1)(5), USD bn 13.7 2.9 0.1 0.9 1.0

KPI 2010 2011 2012E

Total reserves of natural gas, tcm ≥29 33.1 35.1 >35

Reserves replacement ratio ≥100% 124% 149% 118%

Debt to Capital ratio ≤40% 20% 17% 19%

T. Debt / Adj. EBITDA (LTM) ≤1.6x 1.0x 0.8x 0.9x

Volume of gas produced, bcm 509 513 487

Key operational and financial indicators

High profitability and stable operating cash flow assure robust dividend payout

15%

13%

15% 14%

10% 9%

5%

10%

15%

Revenue EBITDA Net income

CAGR of Gazprom for 2006-2011 CAGR of oil & gas majors’ on average for 2006-2011

Comparative 5Y CAGR

20 23

41

28

48 56

0

20

40

60

80

2006 2007 2008 2009 2010 2011

Operating cash flow(1)

USD bn

Strong Financials: Potential for Future Growth

Finance - Investor Day 2013

(6)

29

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217 201 206

217 211

106 114 130

150 166

50

100

150

200

250

2012E 2013F 2014F 2015F 2016F

Export netback parity Prices for industrial consumers

Growth of domestic gas transportation tariff Domestic market liberalization

Gas sales to Russian market(1) Structure of Gazprom’s gas sales revenue(1), 2012E

USD/mcm

1. Net-back parity price is calculated based on Company’s export gas prices estimates

0

10

20

30

40

50

60

70

2006 2007 2008 2009 2010 2011 2012 2013F 2014F

+18% +21%

+22% +15.7%

+22.9% +9.3% +3.5% +8.5% +6.7%

RR/ 1000 cm/100km

RR/mcm

(1)

bcm; RR bn

Revenue growth due to price increase and volume recovery

51%

26%

24%

Europe

FSU Countries

Russia 292 274 277 281 266

479 503

637 739

800 1,641 1,840

2,297 2,632

3,005

- 500 1,000 1,500 2,000 2,500 3,000 3,500

100

300

500

700

900

2008 2009 2010 2011 2012E

Domestic Market Volumes (bcm) Revenue (RR bn)

Domestic Average Price (RR/mcm)

Development of Russian Gas Market

Finance - Investor Day 2013

30

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381.5 385.5 427.0 485.9

566.3

147.0 147.0

237.0

509.0

602.0

+ 1% +11% + 14%

+17%

0

200

400

600

800

1,000

1,200

2009 2010 2011 2012E 2013F

Mineral Extraction Tax (MET)

Unit cost of gas production

Growth rate of unit cost of gas production

Comprehensive Cost Optimization Plan for 2013 — RR 50 bn savings

1. Unit cost of gas production per 1000 cm of sale gas among 7 majors Gazprom ‘s subsidiaries. Excludes cost of OAO Gazprom 2. Unit cost of gas transportation includes cost per1000 cm of gas transported 100 km by Gazprom’s gas transportation subsidiaries. Excludes cost of OAO Gazprom

RR/1000 cm

38.6 40.2 43.0 47.4

50.5

+4 % +7 %

+10% +7 %

0

10

20

30

40

50

60

2009 2010 2011 2012E 2013F

Unit cost of gas transportation

Growth rate of unit cost of gas transportation

Cost of gas transportation(2)

994.9

1,168.3

Cost of gas production(1)

RR/ 1000 cm/100km

Reduction and rigid control over investment, operational and administrative costs

Effective Cost Management

Finance - Investor Day 2013

31

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255,204,000

255,204,153

191,191,191

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1. Data are converted in USD using exchange rate USD 1 = 30.36 RR in 2010; USD 1 = 28.3 RR in 2011, USD 1 = 31.07 RR in 2012, and Gazprom’s budget exchange rate forecast for 2013 (USD 1 = 29.70RR in 2013)

0

10

20

30

40

50

60

2010 2011 2012E 2013F

34 USD bn

44 USD bn

53 USD bn

USD bn

Transportation Production Other segments

(Including gas storage,

gas processing and

gas distribution)

Power & heat

generation Gazprom Neft

Gazprom Group cash CAPEX breakdown(1) 2013 top priorities in gas business

40 USD bn

Timely CAPEX revision gives Gazprom flexibility for optimal resource allocation

Balanced CAPEX

Finance - Investor Day 2013

Transportation CAPEX , USD bn 2012 2013

Bovanenkovo-Ukhta gas pipeline 6.5 3.5

Ukhta-Torzhok gas pipeline 3.4 0.7

Gryazovets-Vyborg twin gas pipeline 2.1 0.5

Kirinskoye onshore processing facility to Sakhalin

CS gas pipeline 0.6 0.4

GTS extension and reconstruction - Southern

Corridor 0.3 3.1

Long-term financial investments for the

construction of the South Stream pipeline outside

Russia

0.2 0.5

Long-term financial investments for the

construction of the Nord Stream pipeline 0.1 —

Sakhalin-Khabarosk-Vladivostok pipeline 1.0 —

Production CAPEX, USD bn 2012 2013

Bovanenkovo field 2.9 2.0

Medvezhye, Urengoyskoye, Yamburgskoye

fields 1.2 1.2

Kirinskoye field 0.6 1.2

Zapolyarnoye field 0.3 0.1

Yubileynoye field 0.2 0.1

Field development projects abroad 0.2 0.5

32

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02/2

002

02/2

003

02/2

004

02/2

005

02/2

006

02/2

007

02/2

008

02/2

009

02/2

010

02/2

011

02/2

012

02/2

013

S&P Moody's Fitch Investment grade

Total and net debt(1)

Cost of debt financing

1. Data are converted in USD using exchange rate USD 1 = 30.24 RR at the end of 2009, USD 1 = 30.48 RR at the end of 2010, USD 1 = 32.2 at the end of 2011, USD 1 = 30.9 at the end of 9m2012, USD 1 = 31.07 RR in 2012, and Gazprom’s budget exchange rate forecast for 2013 (USD 1 = 29.70RR in 2013)

2. Excluding promissory notes

%

26% 15% 24% 24%

10% 13%

17% 17%

33% 42% 38% 33%

31% 31% 21% 27%

2009 2010 2011 3Q2012

Less than 1 year 1-2 years 2-5 years More than 5 years

Debt maturity profile(2)

53.8

43.2 47.8 52.8

Gazprom credit ratings

We maintain conservative debt ratios

Impeccable Credit History

Finance - Investor Day 2013

Moody’s

A3

Baa1

Baa2

Baa3

Ba1

Ba2

Ba3

B1

S&P,

Fitch

AAA-

BBB+

BBB

BBB-

BB+

BB

BB-

B+

1

3

5

7

9

2004 2005 2006 2007 2008 2009 2010 2011 2012E 2013F

Weighted average fixed interest rateWeighted average floating interest rateWeighted average interest rate

45.4 28.6 32.1 37.4

8.4 14.6 15.7 15.4

49.5

1.5

1.0 0.8

1.0 0.9

0

0.5

1

1.5

0

20

40

60

80

100

120

2009 2010 2011 9m2012 2012E

Net debt Cash and equivalents Total debt/adj.EBITDA LTM

USD bn times

1.5

1

0.5

33

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Significant improvement of corporate governance over the past year

English versions of documents uploaded

Code of Corporate Ethics is approved

– Principles of the Code are being introduced

across Gazprom’s subsidiaries (100+

entities)

Corporate documents are now available on the

website in English

Regulation on Access to Insider Information and

its Protection is approved

– Insider dealing compliance division is

appointed

The minimum period for providing shareholders

with an AGM information package is extended

from 20 to 30 days prior to the meeting

Code of Corporate ethics approved

www.gazprom.com

www.gazprom.com www.gazprom.com

www.gazprom.com

Corporate Governance

Finance - Investor Day 2013

34

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Dividend payouts have been approved at the level of 25% of net income (RAS)(1)

A switch to dividend payout based on consolidated net income under IFRS is under consideration

1. Company operating data estimates 2. Dividend yield is calculated using share prices as of February 1st 2013

0.36

2.39

3.85

8.97

7 – 8

8 – 9

0

2

4

6

8

10

2008 2009 2010 2011 2012E 2013F

Dividend Per Share(1) Dividend Yield(1)

RR

0.3%

1.3%

2.0%

5.2% 5-5.6%

5.6-6%

0%

1%

2%

3%

4%

5%

6%

7%

2008 2009 2010 2011 2012E 2013F

Increase of Dividend Payouts up to 25% of Net Income

Finance - Investor Day 2013

Strong commitment to return cash to shareholders

(2)

(2)

35

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Gazification of regions Social and cultural support projects Gazprom for

children

Emissions Reduction Program 2013 – Year of Ecology Energy saving Program

Social and environmental activities provide for sustainable long-term development of Gazprom and Russia

Social and Environmental Responsibility

Finance - Investor Day 2013

36

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Our underlying fundamentals point to the potential we offer as an investment

15%

3%

14%

2%

0%

5%

10%

15%

2006-2011 2012E-2015E

Gazprom Oil & Gas Majors

1. Oil & Gas Majors are the top 10 oil and gas companies by market capitalization as of the beginning of 2013,excluding Gazprom 2. Average 1-year forward multiples

Revenue CAGR, %(1) ROE, %(1)

Source: Companies data, FactSet

19%

15%

18% 16%

0%

5%

10%

15%

20%

2011 2013E

Gazprom Oil & Gas Majors

Source: FactSet

EV/Reserves P/E multiple(1)(2) EV/EBITDA multiple(1)(2)

Source: Companies data, FactSet, Wood Mackenzie Source: Companies data , FactSet

8.0x

2.7x

5.0x 4.4x

0.0x

3.0x

6.0x

9.0x

12.0x

2006 2012E

Gazprom Oil & Gas Majors

Gazprom: Safe Investment

Finance - Investor Day 2013

12.5x 11.3x

8.3x 7.7x 6.9x 6.4x 5.5x 5.0x

1.4x

0.0x

3.0x

6.0x

9.0x

12.0x

15.0x15.0x

12.0x

9.0x

6.0x

3.0x

0.0x

11.8x

3.1x

10.2x 7.9x

0.0x

5.0x

10.0x

15.0x

20.0x

2006 2012E

Gazprom Oil & Gas Majors

15.0x

20.0x

10.0x

5.0x

0.0x

12.0x

9.0x

6.0x

3.0x

0.0x

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Our Value Drivers

Finance - Investor Day 2013

Unparalleled Fundamentals

Sound Strategy & Strong

Market Position

Improving Corporate

Governance

Conservative Financial Policy

18% of global gas reserves

72% of Russian gas reserves

>115% reserve replacement ratio

15% of global gas production

77% of Russian gas production

Focus on shareholders value

Solid dividend policy

Improvement of CG Codes

Commitment to sustainable

development

Natural gas is the future of world

energy

Gazprom is the global energy major:

Over 70% share in the Russian gas

market

27% share in the European gas

market

Diversification of products and export

markets is key to our business

continuity

Impressive profitability

Sensible CAPEX management

Efficient system of OPEX

management

Strong liquidity ratios

38

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OLEG NAGOVITSYN

Deputy Head of Corporate Finance Directorate

Phone: (007) (495) 719-26-25

E-mail: O.Nagovitsyn@adm.gazprom.ru

ANDREY BARANOV

Investor Relations

Phone: (007) (495) 719-25-89

E-mail: ir@gazprom.ru

Contacts for Investors

Investor Day 2013

Department for Finance & Economics

Corporate Finance Directorate

Fax: (007) (495) 719-35-41

39

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Part 5. Gazprom Neft

Investor Day 2013

Alexei Yankevich Member of the Management Board

Deputy CEO for Economics and Finance of Gazprom Neft

40

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Gazprom Neft - Investor Day 2013

This presentation contains forward-looking statements concerning the financial condition, results of operations and businesses of Gazprom Neft and its consolidated subsidiaries. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements.

Forward-looking statements include, among other things, statements concerning the potential exposure of Gazprom Neft to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’, ‘‘expect’’, ‘‘intend’’, ‘‘may’’, ‘‘plan’’, ‘‘objectives’’, ‘‘outlook’’, ‘‘probably’’, ‘‘project’’, ‘‘will’’, ‘‘seek’’, ‘‘target’’, ‘‘risks’’, ‘‘goals’’, ‘‘should’’ and similar terms and phrases. There are a number of factors that could affect the future operations of Gazprom Neft and could cause those results to differ materially from those expressed in the forward-looking statements included in this presentation, inclusively (without limitation): (a) price fluctuations in crude oil and oil products; (b) changes in demand for the Company’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserve estimates; (f) loss of market and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) economic and financial market conditions in various countries and regions; (j) political risks, project delay or advancement, approvals and cost estimates; and (k) changes in trading conditions.

All forward-looking statements contained in this presentation are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on these forward-looking statements. Each forward-looking statement speaks only as of the date of this presentation. Neither Gazprom Neft nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information.

41

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Investor Day Summary

Gazprom Neft - Investor Day 2013

Record Financial & Operating Results

Gazprom Oil Licenses Transfer on Track

Technological Progress

Certainty on Major Tax Breaks

Refineries Well Positioned for Upgrade

Domestic Market Outstanding Growth

New Phase for Greenfield Development

Investments Nearing Peak

Dividends remain at 22%IFRS payout

Net Debt / EBITDA not to exceed 1.5X

42

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40.0

37.9 40.5 43.3

30.0

0

10

20

30

40

50

60

70

80

2010 2011 2012 2020

Operational CAGR Growth Justifies Strategic Targets

1,130

1,200

58

128 0

1,000

1,050

1,100

1,150

1,200

1,250

YE2011 Groupproduction

Revisions Acquisitions* YE2012

Changes in PRMS (SPE) proved reserves, mmtoe

221% Reserves replacement ratio

Hydrocarbon Production, mmtoe

CAGR

+7%

Refining, mmt Optional

growth outside

Russia

Premium Channel Sales, mmt

1. Acquisitions include reserves of Novoport and Baleykinsky fields

14.2

19.5

22.9

40.0

0

5

10

15

20

25

30

35

40

45

2010 2011 2012 2020

52.8 57.3 59.7

100.0

0

20

40

60

80

100

120

2010 2011 2012 2020

Gazprom Neft - Investor Day 2013

Acquisitions(1)

43

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3,151

5,457 5,682

0

1,000

2,000

3,000

4,000

5,000

6,000

2010 2011 2012

7,271

10,211 10,407

0

2,000

4,000

6,000

8,000

10,000

12,000

2010 2011 2012

Strong Financial Results Continue Growth Trend

Gazprom Neft - Investor Day 2013

Revenue(1), USD mm Adj. EBITDA(2), USD mm

Net Income, USD mm Net Debt / EBITDA

1. Until January 2012 Gazprom Neft reported in USD under US GAAP. Gazprom Neft now reports in RR under IFRS. Due to the change in accounting standards, revenues for 2011 and 2012 are represented net of export

duties. Revenue for 2010 is represented as revenue minus export duties and excise of NIS under US GAAP.

2. EBITDA includes share of affiliates’ EBITDA

Note: The presentation currency for Gazprom neft is the Russian Ruble. For purposes of this presentation data for periods 2011/2012 were converted at average exchange rates 29.39 RR / USD in Y2011 and 31.09 RR /

USD in Y2012, accordingly.

25,542

35,042

39,567

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

2010 2011 2012

0.82

0.71

0.53

0.00

0.30

0.60

0.90

2010 2011 2012

0.90

0.60

0.30

0.00

44

0,051,102

0,102,204

153,204,255

153,051,000

255,102,000

255,204,000

255,204,153

191,191,191

102,163,224

1.7 1.0

(5.9 )

(15.6 ) (18.0)

(16.0)

(14.0)

(12.0)

(10.0)

(8.0)

(6.0)

(4.0)

(2.0)

0.0

2.0

4.0

Gazprom Neft TNK-BP Lukoil Rosneft

Operational and Financial Efficiency Backed by Industry-Leading Growth

EBITDA/boe, USD/boe Adj. EBITDA absolute 9M12 Y-o-Y Growth, %

ROACE, % Production & Refining 9M12 Y-o-Y Growth, %

Source: MD&A of Companies and INFOTEK

34.3 30.8

27.4

21.9

32.1 29.4

22.6 21.1

0

5

10

15

20

25

30

35

40

Gazprom Neft Lukoil Rosneft TNK-BP9M11 9M12

37.8

22.1

17.8 13.7

34.1

20.6

11.8 10.6

0

5

10

15

20

25

30

35

40

TNK-BP Gazprom Neft Rosneft Lukoil

9M11 9M12

4.8 3.8 3.6

0.3

5.9 8.6

(12.1)

3.6

(15.0)

(10.0)

(5.0)

0.0

5.0

10.0

Gazprom Neft Rosneft TNK-BP Lukoil

Production Refining

Gazprom Neft - Investor Day 2013

45

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255,102,000

255,204,000

255,204,153

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102,163,224

2020 Strategy

Gazprom Neft - Investor Day 2013

2020

19.5 mmt

40 mmt

Premium sales:

40 mmt

2020

40.5 mmt

70 mmt

Refining:

70 mmt

57.3 mmtoe

100 mmtoe

Production:

100 mmtoe

Reserves / production ratio – 20 years

Share of greenfields in total production

> 50%

Share of international project in total

production – 10%

2011 2020 2011 2011

In Russia – up to 40 mmt

International – up to 30 mmt

Depth of refining in Russia – 90%

Light product yield in Russia – 77%

12 mmt – Retail sales

8.2 – In Russia

18 mmt – Premium sales

10 mmt – Small wholesale sales

46

0,051,102

0,102,204

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153,051,000

255,102,000

255,204,000

255,204,153

191,191,191

102,163,224

60

100

0

20

40

60

80

100

120

2012 2020

Upstream Strategy

Gazprom Neft - Investor Day 2013

Hydrocarbon production:

Curent vs. 2020 Target, mmtoe

...

Technology

Assets

Macro environment

47

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Upstream Growth Opportunities in Russia

Gazprom Neft - Investor Day 2013

Orenburg region: an example of successful regional expansion

SeverEnergia

Messoyakha

Novoportovskoe

Prirazlomnoye

Dolginskoye

Chonskiy project Recoverable reserves (C1+C2),

Jan 1, 2012

Crude oil, 130 mmt

Gas, 1,643 bcm

Interest of GPN: 100%

Kuyumba Recoverable reserves (C1+C2),

Jan 1, 2012

Crude oil, 473 mmt

Gas, 246 bcm

Condensate, 25 mmt

Interest of GPN: 50%

North of YNAO

Arctic Shelf

East Siberia

Traditional and new production centers in Russia

Traditional production centers

New growth opportunities

Autumn 2011 – Control over the Eastern part

of the Orenburg field acquired

Autumn 2011 – Tsarichanskoye and

Kapitonovskoye fields acquired

Autumn 2012 – Baleykinskoye field acquired

Production in Orenburg regions

exceeded 2 mmtoe in 2012

Within five years production is

targeted to amount 6 mmtoe

48

0,051,102

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255,102,000

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North of YANAO

Gazprom Neft - Investor Day 2013

SeverEnergia

Recoverable reserves (C1+C2),

Jan 1, 2012 Crude oil, 1,309 mmt

Gas, 145 bcm

Condensate, 129 mmt

Interest of GPN: 25.5%

Status: 1 train of GPF Samburg launched

Active works on 21 wells (assembling of five

drilling rigs, drilling of ten wells and

production testing of six wells)

Continued construction of second train of

gas processing facility

Messoykha Novoportovskoye

Recoverable reserves (C1+C2),

Jan 1, 2012 Crude oil, 233 mmt

Gas, 274 bcm

Condensate, 19 mmt

Interest of GPN: 90%

Status: 4 exploration wells tested. Results

significantly exceed expectations.

Construction tank battery started

Launched 2 wells (1 in testing, 1 in drilling).

The contractor for the Arctic terminal

construction approved

Recoverable reserves (C1+C2),

Jan 1, 2012 Crude oil, 622 mmt

Gas, 219 bcm

Condensate, 9 mmt

Interest of GPN: 50%

Status: Began test production

Continued pilot project of production well

drilling

In progress the design and survey work of

field facilities

49

0,051,102

0,102,204

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255,102,000

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255,204,153

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102,163,224

Arctic Shelf

Gazprom Neft - Investor Day 2013

Key results for 2012

Prepared project documentation for construction of 3-SD exploration well Completed complex

engineering surveys at drilling area

Completed HAZID session, HAZOP in process

Continued preparation to 3-SD exploration well drilling (selection of jack-up rig, supply vessels,

tender process for outsourcing services, etc.)

Plans for 2013

Contracting for self-elevating floating drilling rig, HAZOP supply vessels

Contracting of services

Start of project documentation preparation for 4-SD exploration well

Start of self-elevating floating drilling rig and supply vessels mobilization

Start of 3-SD exploration well drilling

Complex engineering surveys at 4-SD well and project documentation

Completion of 3-SD exploration well works and drilling results

Key results for 2012

Project audit completed

Project appraisal under way

Plans for 2013

Platform completion, pre-commissioning, HAZOP, platform diverter assembly

Offshore ice-resistant fixed platform launch

Production start-up

First 3 wells drilling results

Prirazlomnoye

Dolginskoye

50

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255,204,000

255,204,153

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102,163,224

Gazprom Neft Sever Energia Orenburg Novoport Prirazlomnoye(1) Dolginskoye(1) Gazprom Neft + Gazpromoil licences

Gazprom Oil License Transfer on Track

Gazprom Neft - Investor Day 2013

Outstanding Oil license transfers

178 mmtoe ABC1+1/2C2

Reserves

License transfers complete

1,366 mmtoe ABC1 Reserves

1. ABC1+1/2C2 reserves

(1) (1)

51

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International Growth in Four Regions

Gazprom Neft - Investor Day 2013

Iraq (Badra)

Reserves (mm tonnes)

Geological – 410

Start production: 2013

Status:

11 production well pads

constructed

3D seismic obtained and

interpreted

Reserves (bn tonnes)

Geological – 7.2

Recoverable – 1.8

Interest of GPN: 8%

Status:

Test production, 2 wells drilled

Construction 3 production well

pads

Kurdistan

Reserves (bn tonnes)

Geological – 1.5

Start production: 2014

Interest of GPN:

Block Garmian - 40%, Block Shakal – 80%

Status:

2D seismic

Drilled 3 exploration wells

Balkans

Latin America

West Africa

North Africa

Middle East

South-East Asia

North-Western Europe

Current production regions

Regions for further exploration

Potential targets

Venezuela (Junin-6)

52

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30

150

0

40

80

120

160

Technology-Driven Production Growth

Gazprom Neft - Investor Day 2013

Key technology projects

High-density seismic studies

Horizontal wells with multi-stage hydrofracturing and multilateral well technologies

Center for geological assistance to drilling

Development of high-viscosity oil in gas-caped layers

Arctic shelf and on shore production technology

Smart field technology to improve ultimate recovery and production rate

Energy efficiency programs

1. Developing hard-to-recover reserves and improving current asset production Effective:

Development of additional 500 mmt of low-production

reserves

Securing profitability at the new fields

Base production decline slowed by 10%

Production increase by 30%

Intelligent (selective) completion

Well reconstruction (side-tracks) by coiled tubing unit

Implying new types of oil-cut muds

Geosteering with the innovative logging equipment while drilling

Multilateral well drilling

Horizontal wells with multi-stage hydrofrac

Multi-stage hydrofracs, wells Horizontal drilling, wells Cumulative production for 3 years,

ths. tonnes

Vertical well with

hydrofrac

Horizontal well with

multistage hydrofrac

The most effective New technologies: from field test to industrial scale

1

35

89

0

20

40

60

80

100

2011 2012 2013

27

81

121

0

40

80

120

160

2011 2012 2013

Key technology projects

53

0,051,102

0,102,204

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255,102,000

255,204,000

255,204,153

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102,163,224

Technology-Driven Production Growth

Gazprom Neft - Investor Day 2013

2. EOR technology Effective:

ASP flooding technology

In-situ controlled burning technology

Steam, CO2 injection and miscible drive

Tight oil extraction technology

Additional 170 mmt production potential due to recovery

enhancement

Development of additional 150 mmt of reserves

Chemical flooding technique of Alkaline-Surfactant-Polymer (ASP) The ASP flooding technique is the one of the most promising enhanced oil recovery methods for mature fields

The ASP field pilot will be undertaken at the West-Salym field in 2010-2016

Key technology projects

Chemicals

Pump

Injection well

Producer well

Crude oil

Oil release by alcaline+

surfactant

Full displacement by

polymer solution

Water displacement of

chemicals

Additionally

released oil

54

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Tax Breaks for New Upstream Projects

Gazprom Neft - Investor Day 2013

Dolginskoye and

Prirazlomnoye(3)

Yamal peninsula in YANAO: Novoport

North of 65° n.l. in YANAO: Messoyakha

Irkutsk Region: Chonskiy (Vakunaiskoye, Ignyalinskoye)

Sakha Republic (Yakutia): Timpuchikanskoye

Krasnoyarsk Krai: Kuyumba, Tersko-Kamovskiy

Continental shelf : Prirazlomnoye

Unified methodology for granting tax breaks for new projects(1) (takes effect from April 1, 2013)

Offshore Projects(2)

Tight Oil(4) Kraineye, Vingayakhinskoye

and Sutorminskoye fields

Tax holidays extension for East Siberia(5) Kuyumba, Tersko-Kamovskiy

and Timpuchikanskoye fields

Conditions:

Reserves depletion rate < 5%

Initial recoverable crude oil reserves ≥10 mmt (if applied before 31.12.2013) or ≥ 5 mmt (if applied after 31.12.2013)

Segregated metering for crude oil produced at field

Term of the break is set so the project would achieve 16.3% IRR over its lifetime

Reduced export duty = 45% × (Urals-365USD/Tonne)

Decree assumes introduction of tax breaks for:

MET for 5-15 years according to complexity of a project

Export duty (0%)

Bill assumes introduction of new coefficients “Кд” and “Кдв” for MET formula:

Oil MET = 470 × Кц× Кв × Кз × Кд × Кдв

Кд (0; 0.2; 0.4; 1) – depending on reservoir category for 10 - 15 years

Кдв (for depleted reservoirs similarly to “Кв” for depleted deposits)

Bill introduced to Duma proposes prolongation of zero MET for production volumes up to 25 mmt up to December 31,

2021 in case the following provisions are met:

License issued before January 1, 2007

Reserves depletion rate as of January 1, 2013 is < 5%

Sakha Republic (Yakutia), Irkutsk Region, Krasnoyarsk Krai

1. Federal law as of 03.12.2012 № 273-FZ «About introduction of alterations to the Law of Russian Federation «About Customs Tariff» 2. Decree of the Government of Russian Federation №443-р as of April 12, 2012 3. In case that the 2016 and onwards production start-up condition to use the tax break will be omitted 4. Decree of the Government of Russian Federation №700-р as of May 03, 2012 5. Project for Federal Law № 163349-6 «About introduction of alterations to article 342 section two of the Tax Code of Russian Federation»

Property tax

VAT and import duty for equipment

Adopted

Expected

55

0,051,102

0,102,204

153,204,255

153,051,000

255,102,000

255,204,000

255,204,153

191,191,191

102,163,224

2012 20152012 2015

Focus on Quality Driving Modernization Projects in 2013

Gazprom Neft - Investor Day 2013

Generate additional margin from higher-quality

product sales

Benefits from lowered excise rates on higher-

class fuels

Improve environmental characteristics (quality

classes) to comply with technical regulations

Improve quality of consumer products (increase

octane value, introduce winter-grade diesel)

primarily completed by 2013

Quality improvement program

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Quality of motor fuels

Gasoline, mmt Diesel fuel, mmt

Below

Class 4

Class 4

Class 5

Below

Class 4

Class 4

Class 5

9.0 8.6 11.5 11.2

56

0,051,102

0,102,204

153,204,255

153,051,000

255,102,000

255,204,000

255,204,153

191,191,191

102,163,224

Stable Growth for Light Product Demand in Russia, with Minimal Decline for Heavy Products

Gasoline consumption forecast, mmt Diesel consumption forecast, mmt

Jet fuel consumption forecast, mmt Fuel oil consumption forecast, mmt

Source: EIU; Global Insights; Economic Development Ministry; Ministry of Agriculture; Federal State Statistics Service

Gazprom Neft - Investor Day 2013

0

10

20

30

40

50

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

0

10

20

30

40

50

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

0

5

10

15

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

0

5

10

15

20

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

Annual growth rate

= 2.7%

Annual growth rate

= 2.7%

Annual growth rate

= 4.0%

Annual decline rate

= 0.7%

1234722-001

57

0,051,102

0,102,204

153,204,255

153,051,000

255,102,000

255,204,000

255,204,153

191,191,191

102,163,224

20 14 2

17 16

15

3 3

4

29 31

38

7 8

12

2 1

22 27 29

2013 2017 2020

Conversion Investments will Result in Additional 8 mmt/y of Light Products

Gazprom Neft - Investor Day 2013

Increase in light product yields

Increase of refining depth

Conversion rate increase program

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

primarily completed by 2017

Diesel

Lubricants Other

(Coke, Bitumen,

Heating oil)

Fuel oil

Naphtha

Gasoline

Jet fuel

Petroleum products structure, % 100 100 100

2013 2017 2020

Light Products Yield, % 61.3 67.1 80.6

Conversion Rate, % 79.2 82.5 94.2

Petroleum Products Output, mmt 36.5 36.7 37.9

ONPZ

YANOS

Hydrocracking unit

Coking unit

Coking unit

FCC unit

-1/1 (stage 1)

С-001, С-200

FCC unit

-1/1 (stage 2) С-100, С-

300

Hydrocracking and Flexicoking

units

FCC unit

(Г-43/107)

FCC unit

(1А/1М)

Hydrocracking unit

2010 Jan 2013 2015 2017 2020

MNPZ

YANOS

58

0,051,102

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255,102,000

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255,204,153

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102,163,224

Strategic Summary

Gazprom Neft - Investor Day 2013

Upstream Downstream

Assets

Gazprom license transfer

M&A

Technology

Technology testing

Macro environment

Certainty with major tax breaks

Full-scale development start-up

2007

-201

2 20

13-2

015 Fast refinery

modernization

Growing market

High margins

Future tax changes

59

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255,102,000

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4.3

10.2

4.8

2.1

1.9

23.3

CAPEX and Investments Support Strategic Goals

Gazprom Neft - Investor Day 2013

2013-2015

CAPEX outlook 2013-2015, USD bn

Upstream

brownfield

Upstream

greenfield(1)

Refining

Marketing&

distribution

Other

Badrah Novoport

Messoyakha Orenburg

Omsk Moscow Moscow

Junin 6

Retail Avia Bunkering Lubricants

Kuymba

1. Including investments in JV projects

Noyabrsk Vostok Zapolyarneft

44% of three-year cycle capex will be spent on new upstream

projects

21% will be invested in refinery upgrade

Remaining investment will focus on expanding marketing segment

and business improvement projects

1.6 1.4 1.5 1.4

1.7 3.2

3.8 3.2

1.2

0.9

1.5

1.3 0.7

0.8

0.7

0.6

0.3

0.4

0.8

0.8

0.5

0.8 6.1

7.4

8.3

7.3

0

1

2

3

4

5

6

7

8

9

2012 2013 2014 2015

Upstream brownfield Upstream greenfield(1)

Refining Marketing and distribution

Other M&A

(1)

60

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22% Payout Ratio is Expected 2013 and Onwards

Gazprom Neft - Investor Day 2013

Dividends, 2009- 2011

The expected amount of annual dividends for 2012 is 22% of IFRS Net Income

Considering the payment of 6-month interim dividends

Considering the incorporating of independent directors to the Gazprom Neft Board

of Directors

605

693

1,177

3.57

4.44

7.3

0

2

4

6

8

10

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2009 2010 2011 2012 2013 2014 2015

Dividends, USD mln

Dividend per share, RUB

61

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153,051,000

255,102,000

255,204,000

255,204,153

191,191,191

102,163,224

Gazprom Neft - Investor Day 2013

Alexey Kokorev

Head of Corporate Finance Department

Phone: (007) (812) 648-3117

E-mail: Kokorev.AS@gazprom-neft.ru

Anna Sidorkina

Head of Investor Relations

Phone: (007) (812) 385-9548

E-mail: Sidorkina.AV@gazprom-neft.ru

Department of Corporate Finance

Investor Relations

Tel: (007) (812) 385-9548

Contacts for Investors

62

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Part 6. Gazprom Power Generation

Investor Day 2013

Denis Fedorov Head of Gazprom Directorate for Development of Power Generation

Sector and Power Generation Marketing

General Director of Gazprom Energoholding

63

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255,204,153

191,191,191

102,163,224

The information contained herein has been prepared using information available to Gazprom Energoholding (or the Group) at the

time of preparation of the presentation. External or other factors may have impacted on the business of Gazprom Energoholding

and the content of this presentation, since its preparation. In addition all relevant information about Gazprom Energoholding may

not be included in this presentation. No representation or warranty, expressed or implied, is made as to the accuracy,

completeness or reliability of the information.

Any forward looking information herein has been prepared on the basis of a number of assumptions which may prove to be

incorrect. Forward looking statements, by the nature, involve risk and uncertainty and Gazprom Energoholding cautions that actual

results may differ materially from those expressed or implied in such statements. Reference should be made to the most recent

Annual Reports of OJSC “Mosenergo”, OJSC “TGC-1” and OJSC “OGK-2” for a description of the major risk factors.

This presentation does not constitute or form part of any advertisement of securities, any offer or invitation to sell or issue or any

solicitation of any offer to purchase or subscribe for, any shares in OJSC “Mosenergo”, OJSC “TGC-1” and OJSC “OGK-2”, 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.

Disclaimer

64

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255,102,000

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102,163,224

38

37

34

25

20

GEH

RusHydro

Inter RAO

Rosatom

EuroSibEnergo

1,140

1,060

1,032

226

223

212

China

US

EU

Japan

Russia

India

Russia - world’s #5 electricity market

by installed capacity-2012, GW

#5

24 23

30 33 32

16 16 19

23 22

2008 2009 2010 2011 2012

Power generation Electric grids

26%

22%

65%

52%

57%

35%

22%

21%

TPP

HPP

NPP

< 30 years 31-50 years > 50 years

Industry revenue

2008-2012,

USD bn

Power

units

ageing

Russian Power Sector

Introduction to Russian Power Sector

Top-5 Russian

players by

installed

capacity, GW

Over $40 bn private investment in industry

since 2006

100% liberalized electricity market

CSA agreements guaranteeing 14% IRR

on investments

Russian market highlights

Gazprom Power Generation - Investor Day 2013

65

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255,102,000

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Russian Electricity Market Evolution [1/2]: Structuring and Liberalization

Expected changes in

industry structure

Introduction of old power plants

modernization model

Introduction of direct billing

systems

Elimination of forced Electricity

generation(1)

Heat tariff increase making

heat generation economically

feasible

Further capacity market

liberalization

Priority for co-generation

development in big cities

Further reforms are expected

to make investments in Heat

generation profitable and

eliminate outdated capacities

Current market model

Electricity and Heat generation (14 TGK’s and 5 OGK’s)

Regulated

Heat market

Consumers

Wholesale

Electricity and

Capacity market

Wholesale

buyers

Russian Grids

(state-owned monopoly)

Heat Grids

(private and

TGK/OGK affiliated)

Old market model

Regulated

tariffs

RAO UES

(generation and grids)

Consumers

Until 2007 Russian electricity

and heat markets were 100%

monopolized

1. Some lossmaking power plants are forced to be maintained by the regulator

Gazprom Power Generation - Investor Day 2013

66

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Russian Electricity Market Evolution [2/2]:

Developments

Totally competitive market provides

advantages for the most efficient

generators

Guaranteed pay-back of

investments in the CSA projects

Higher margin for the efficient

investors

Non-lossmaking conditions for “old

capacity”

Mechanisms were developed to

create competitive environment in

the market since January 1, 2014

Ele

ctri

city

mar

ket

Electricity

Capacity

Heat

100% Liberalization of industrial consumers electricity

market (gradual liberalization in 2007-2011)

CSA mechanism stimulating investments in the new

capacity in regions experiencing energy shortage,

providing investments pay-back

Competitive capacity outtake mechanism providing

higher margin for efficient producers

Special tariffs for non-competitive producers

Liberalization in progress

Legal framework of the economic relations in the heat

market was determined (Law on heat supply)

In 2012 framework of pricing in the market and stages

of its implementation were determined

1

2

3

1

2

3

1

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Installed electric capacity 7.3 GW

Installed heat capacity 14.9 thous. GCal/h

Market capitalization USD 0.94 bn(4)

Free-float 22.6%

Installed electric capacity 18.4 GW

Installed heat capacity 4.5 thous. Gcal/h

Market capitalization USD 0.78 bn(4)

Free-float 22.7%(5)

136

82 70

49 45 40 38 38 37 34

EdF

Ene

l

E.O

N

RW

E

GdF

Sue

z

End

essa

Vat

tenf

all

GE

H

Rus

Hyd

ro

Inte

r R

AO

Gazprom Energoholding Profile

Installed electric capacity 12.3 GW

Installed heat capacity 35.1 thous. GCal/h

Market capitalization USD 2.05 bn(4)

Free-float 15%

Top 10 European generators by Installed

Capacity, GW, 31.12.2011

Installed Capacity in Russia, %,

31.12.2012(1)

53.5% 51.8% 77.3%(5)

Moscow Region

(3) (2)

GEH, 17%

Others, 83%

1. Source for total installed capacity in Russia (223 GW) – System operator`s data (31.12.2012) 2. GdF Suez installed capacity for Europe region 3. As of 31.12.2012, including Adlerskaya TPP

4. As of 05.02.2013 5. With account of realization of the preemptive right within the frame of the additional issue

Hydropower station

Heat station

Murmansk region

Karelia region

Saint Petersburg region

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10.4 3.8

14.6

9.8

21.0

2008 2012E

2% 11%

Gazprom Energoholding Development, 5-year IFRS Results

New Capacity Share in the Total Electricity

Production, %

2008 2012

Total 36 GW Total 38 GW

Gazprom Energoholding Rest of Russia

93.4 104.2

33.6 65.1

94.8

156.0

2008 2012E

Sales (IFRS), RR bn

221.8

+ 46.7 %

325.3

EBITDA (IFRS), RR bn

14.5

46.0

+ 217.3 %

1. Including Murmanskaya CHP 2. For 2008 data is restated as the sum OGK-2 and OGK-6 data

0.9

826.9 887.3

179.9 166.6

2008 2012E

1,006.8 1,053.9

Electricity Output Dynamics in Russia, bn kWh

Mosenergo

TGC-1(1)

OGK-2(2)

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Increased capacity tariffs High profitability

New capacities, 11%

Old capacities, 89%

New capacities, 20%

Old capacities, 80%

Capacity distribution EBITDA distribution

499

118

CSA capacity tariffRegular capacity tariff

GEH plans to commission

extra 3.5GW of CSA

capacities by 2016

(+9% to existing GEH

capacity)

GEH investment program, MW

122 700

2,250

520

2013 2014 2015 2016

1000 RR for 1MW/month

New capacities are

expected to increase

EBITDA by ~20%

(in current prices)

2013-2016 potential

11% of capacity

generates ~20% of

EBITDA

Gazprom Energoholding Investments:

High Profitability and Guaranteed Returns

Over 90% of GEH investment program is guaranteed by the CSA agreements implying 14% IRR guaranteed by the

government

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The company has solid

potential which is

mostly constrained by

regulation risks which

are expected to be

removed on 2-3 years

horizon

Country

level

Industry

level

Company

level

Stable GDP growth. Over 4% GDP CAGR

Low Debt/GDP ratio. Russian Debt/GDP ratio is one

of the world lowest: less than 10%

Stable cash-flow. Electric utilities is characterized by stable

demand

Regulation uncertainty. Industry regulation is still under review

and expected to remain unstable for 2-3 years

Restriction of old capacities removal. The restriction forces

GEH to maintain inefficient power plants and spare capacities

Strong GR. GEH management is directly involved in

industry regulation development

High CSA program exposure. CSA investments

guarantee 14% IRR

Optimization potential. GEH retains solid fixed costs cut

potential being unutilized

Fuel mix optimization opportunities. GEH has the

potential to diversify fuel mix to lower fuel costs

Presence in most developed areas. GEH business

is located in key Russian industrial centers

Gazprom Energoholding Potential at a Glance

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2007 2012

2016

Creation of a vertically integrated

energy holding

Increase in electricity sales

revenue

Diversification of tariff regulation

risk

Fuel mix diversification

Commissioning of new

capacities

Increase in operational efficiency

What we promised in 2007?

100% electricity market

liberalization

Switching coal-fired power

units to gas (if reasonable)

Commissioning of 5GW new

capacities

Increase in electricity market

profit as a result of market

liberalization, cost

optimization and priority to co-

generation

What we delivered by 2012?

Higher returns on capacity

modernization projects

Increased use of co-generation

Commissioning of new capacity

in regions with poor electricity

supply

M&A

Foreign expansion opportunities

What’s next?

2011 2009

…

Inception Market

liberalization

OGK-2,6

merger

Efficiency

increase

campaign

IPO

Gazprom Energoholding Development:

Meeting the Expectations

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Генерация

Appendix

Investor Day 2013

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(1.2)

3.5 4.7 0.01 3.0 1.0

8.4 7.2

3.9 3.3 2.1

1.7 8.7

8.8 7.3

2008 2009 2010 2011 2012E

Financial Highlights (IFRS)

Sales, RR bn

0.9 8.5 10.5 5.9 10.4 3.8

13.2 12.6 11.8

14.6

9.8

15.9 20.1

23.9 21.0

2008 2009 2010 2011 2012E

EBITDA, RR bn

+ 217.3 % + 46.7 %

Net Profit, RR bn

+615.8%

(2) (3)

13.6

1.9

13.6 12.7

20.6

47.6%

20.7%

27.9%

3.8%

Sales Structure, %

2007

62.8%

21.5%

15.1%

0.6%

2012E

Electricity

Capacity

Heat

Others

1. For 2012 net income data without regard to impairment and possible restatement 2. Including Murmanskaya CHP 3. For 2008 – 2010 data is restated as the sum of OGK-2 and OGK-6 data

14.5

37.6 41.6 43.2

46.0

93.4 80.3 96.5 104.9 104.2

33.6 41.3 54.1 60.3 65.1

94.8 112.6

145.3 161.1 156.0

2008 2009 2010 2011 2012E

221.8 234.2

326.3 295.9

325.3

(1)

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110.0

936.0

60.0

1,830.0

420.0 111.0

210.5 665.0

479.5

60.0

100.0

450.0

875.0

16.0

420.0

61.5

640.0

420.0

2007 2008 2009 2010 2011 2012 2013E 2014E 2015E 2016E

6.9 6.8 6.7 6.1 6.0

26.3 26.9 28.8 26.1 26.7

62.4 65.4 69.9 66.4 68.4

2008 2009 2010 2011 2012

88.7 76.1 82.5 79.8 75.2

26.9 26.8 27.2 28.4 30.4

64.3 61.7 65.0 64.6 61.0

2008 2009 2010 2011 2012

Electricity Output, kWh bn Heat Output, Gcal mm

179.9 164.6 172.8 174.7 166.6

(7.4%)

95.6 99.1 98.5 105.4

101.1

+5.8%

CSA Investment Program, Additional Capacity, mW

To be commissioned Commissioned

Operational Highlights and Investment Program

1. Including Cherepovetskaya GRES 2. Including Murmanskaya CHP 3. For 2008 – 2010 data is restated as the sum of OGK-2 and OGK-6 data

(2) (3)

(1)

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EBITDA 2012

SAP implementation

Contest bids’ price decrease 700

RR mm +3%

1,335

RR mm +10%

2,504

RR mm +40%

+4,5 RR bn EBITDA in 2012

EBITDA increase

EBITDA increase

EBITDA increase

Gazprom Energoholding Development

Costs Optimization

Gazprom Power Generation - Investor Day 2013

Lean production program

Personnel optimization

OGK-2 and OGK-6 consolidation to

achieve synergy

Cost reduction program (since 2012)

Program for the Shareholder Value

Increase (cost optimization, Lean

production, Non-core assets sale)

Unification of coal buying, outsourcing

of services

Reduction of personnel and motor

transport costs

Optimization of the investment

program on CSA and Automatic

system for commercial accounting of

power consumption in 2012

Repair program reduction

2008 2009 2010 2011 2012

2008 2009 2010 2011 2012

2008 2009 2010 2011 2012

76

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Contacts for investors

Gazprom Power Generation - Investor Day 2013

EKATERINA PAVLOVA

Head of Investor Relations

Phone: (007) (495) 428-47-83 (ext. 4607)

E-mail: pavlovaea@gazenergocom.ru

Corporate Governance and Legal Services Department

Investor Relations

Fax: (007) (495) 428-47-98