26; 124;195

150; 150; 150

68; 103; 124

69; 165; 187

245; 190; 50

100; 190; 235

90; 90; 90

140; 200; 40

1; 70; 122

2014 IFRS CONSOLIDATED FINANCIAL RESULTS

APRIL 29, 2015

2

26; 124;195

150; 150; 150

68; 103; 124

69; 165; 187

245; 190; 50

100; 190; 235

90; 90; 90

140; 200; 40

1; 70; 122

Do not put anything

below this line 2014 IFRS CONSOLIDATED FINANCIAL RESULTS

26; 124;195

Alexander Ivannikov First Deputy CFO

3

26; 124;195

150; 150; 150

68; 103; 124

69; 165; 187

245; 190; 50

100; 190; 235

90; 90; 90

140; 200; 40

1; 70; 122

Do not put anything

below this line 2014 IFRS CONSOLIDATED FINANCIAL RESULTS

DISCLAIMERS This presentation has been prepared by JSC 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. 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.

4

26; 124;195

150; 150; 150

68; 103; 124

69; 165; 187

245; 190; 50

100; 190; 235

90; 90; 90

140; 200; 40

1; 70; 122

Do not put anything

below this line 2014 IFRS CONSOLIDATED FINANCIAL RESULTS

26; 124;195

GAZPROM STRONG FINANCIAL POSITION

AMONG OIL & GAS MAJORS

Comparative EBITDA 10Y CAGR1 Top-5 oil and gas majors

by EBITDA, 2014

EBITDA for Gazprom is adjusted by changes in impairment provisions.

1 Median CAGR of top 10 oil & gas majors by market capitalization as of April 23, 2015

Source: Companies websites, Bloomberg as of April 23, 2015

15.0%

2.1%

0

5

10

15

20

25

GAZPROM TOP-10 OIL & GAS MAJORS

%

56.9

51.9 51.7 51.4

36.5

0

10

20

30

40

50

60

70

80 USD bln

5

26; 124;195

150; 150; 150

68; 103; 124

69; 165; 187

245; 190; 50

100; 190; 235

90; 90; 90

140; 200; 40

1; 70; 122

Do not put anything

below this line 2014 IFRS CONSOLIDATED FINANCIAL RESULTS

Total net sales  RR 5,590 bn in 2014 — up 6% compared to 2013

 RR 1,582 bn in 4Q2014 — up 7% compared to 4Q2013

Adj. EBITDA1

 RR 1,963 bn in 2014 — down 2% compared to 2013

 RR 614 bn in 4Q2014 — up 19% compared to 4Q2013

Net Profit2

 RR 159 bn in 2014 — down 86% compared to 2013

 RR (397) bn in 4Q2014 — compared to RR 280 bn in 4Q2013

Operating cash flow

 Increased by 10% to 1,916 bn RR in 2014 compared to 2013

 Increased by 37% to 616 bn RR in 4Q2014 compared to 4Q2013

Continued positive free cash flow3 generation

 RR 654 bn FCF in 2014 – up 90% compared to RR 345 bn in 2013

Leverage easing

 Net debt increased by 48%4 to 1, 651 bn RR as of the end of 2014

 Net Debt/Adj.EBITDA was 0.84x as of the end of 2014

1 EBITDA adjusted by changes in impairment provisions. 2 Profit for the period attributed to owners of OAO 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, 2013.

SUMMARY OF FINANCIAL RESULTS

6

26; 124;195

150; 150; 150

68; 103; 124

69; 165; 187

245; 190; 50

100; 190; 235

90; 90; 90

140; 200; 40

1; 70; 122

Do not put anything

below this line 2014 IFRS CONSOLIDATED FINANCIAL RESULTS

488.4 444.9

137.2 123.6

0

200

400

600

2013 2014 4q13 4q14

Natural gas production Crude oil production Gas condensate production

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

Calculations may diverge due to rounding.

HYDROCARBON PRODUCTION, ELECTRICITY AND HEAT

GENERATION

bcm mln ton mln ton

(9%)

(10%)

14.7 14.5

3.8 3.8

0

10

20

30

2013 2014 4q13 4q14

(1%)

0% 42.3 43.5

8.7 9.0

0

20

40

60

2013 2014 4q13 4q14

+3%

+3%

Electricity generation Heat generation

bn kWh mln Gcal

162.5 155.4

41.8 43.9

0

30

60

90

120

150

180

2013 2014 4q13 4q14

(4%)

+5% 107.4 120.1

32.3 44.4

0

30

60

90

120

2013 2014 4q13 4q14

+12%

+37%

7

26; 124;195

150; 150; 150

68; 103; 124

69; 165; 187

245; 190; 50

100; 190; 235

90; 90; 90

140; 200; 40

1; 70; 122

Do not put anything

below this line 2014 IFRS CONSOLIDATED FINANCIAL RESULTS

26; 124;195

GAS SALES

243 232

73 75

3 265 3531 3551 3599

0

1 000

2 000

3 000

4 000

0

100

200

300

400

2013 2014 4q13 4q14

VOLUMES AVERAGE PRICE IN RUSSIA

794 821

257 268

0

400

800

1200

1600

2000

2013 2014 4q13 4q14

NET SALES TO RUSSIA

+3%

+4%

RR/1 mcm bcm

RR bn

Calculations may diverge due to rounding. 1 Net of value added tax (VAT) 2 OC - Other countries: include LNG sales 3 VAT is not charged