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GazpromConsolidated 3Q 2009 IFRS

Financial Results Presentation

11

Disclaimers

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.

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.

3Q 2009 Highlights

3

Key Financial Highlights

Strong Revenue despite severe market conditions, RR 2.4 trn for 9M 2009

Adjusted EBITDA amounted to RR 208 bln in 3Q 2009 decreased by 41% compared to 3Q 2008

Profit for the period(1) amounted to RR 175 bln in 3Q 2009 increased by 33%compared to 3Q 2008

Total debt amounted RR 1,762 bln as of the end of 9M 2009 and has not changed considerably comparing with RR 1, 713 bln as of the end of 1H 2009

Higher Leverage as of the end of 9M 2009 due to valuable Adjusted EBITDA decrease. Total Debt / Adjusted EBITDA(2) amounted to 1,7x as of the end of 9M 2009 compared to 1,4x as of the end of 1H 2009

(1) Profit for the period attributed to owners of OAO Gazprom

(2) Total Debt/Adj.EBITDA is calculated on the LTM basis

3Q 2009 Operational Results

55

Export Markets

25 2510 1122 15

25

173

222272

151148

167 170

1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09

FSU Volumes Prices

54 46 45 37 3940 47

466438383

280250

346390

1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09

Volumes Prices

339 323 331438 433

298265

1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09

Net sales of gas in Europe & other countries

Gas prices and volumes in Europe & other countries Gas prices and volumes in FSU

85107868083 76 64

1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09

(RR billion) (RR billion)

Net sales of gas in FSU

($/mcm) ($/mcm)(bcm) (bcm)

66

Domestic Market

173

91

139158

90 7876

1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09

Net revenues

40,949,6

93,286,8

45,554,9

105,0

19041 8181 6951 6041 6671 6551 652

20,0

46,0

72,0

98,0

124,0

150,0

1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09

Sales volumes in Russia Domestic prices

Gas prices and volumes

18%

46%

9%9%

4%

9%

5%

Power generation

Metallurgy

Agro chemistry

Cement industry

Households

Utility sector

Other

Domestic gas sales by consumer type in 3Q09 (1)

(1) Management estimates

(RR/mcm)(bcm)

(RR billion)

3Q 2009 Performance

8

Net Profit for the Period Reconciliation

174142 (149) 144

11 (10)35

Profit for the period3Q08

Operating profit One-off andfinancial items

Share of net incomeof associated

undertakings andjointly controlled

entities

Losses on disposalof available-for-sale

financial assets

Profit tax expense Profit for the period3Q09

Factors influenced 3Q09 Net Profit (Y-o-Y, RR billion)

Due to decrease of Sales by 68 RR bln and increase of OpEx by 81 RR bln

Increase primarily relates to net financial income amounted 74 RR bln in 3Q09 and fixed loss from change in fair value of call option amounted 70 RR bln in 3Q08

Caused by a decrease of

income tax rate from 24% to 20%

Mainly due to increasedNet income of associated

and jointly controlled entities and due to new

investments

9

(9)(11)(9)(6)(4)(2)

(0,5)

43

84

(140)(143)

(36)

(0,3)

17

31,3332,21

33,93

27,27

24,2523,6324,26

-150

-100

-50

0

50

1001Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09

0

5,9

11,8

17,7

23,6

29,5

35,4

Net Interest expense Net Exchange gains/losses Avg. RR/USD exchange rate

Financial Income and Financial Expenses

Effect of exchange rates dynamics (RR billion)

RR/USDRR bln

10

409 345 346 388 352432

137 303147

171 181182

0

200

400

600

800

1Q08 1Q09 2Q08 2Q09 3Q08 3Q09

OpEx without purchased gas and oil Purchased gas and oil

Operating Expenses growth (RR billion)

Operating Expenses

Without purchased oil and gas expenses OpEx increased by 5% in 9M09 (y-o-y)

Inflation rate(1) amounted 11% in September 2009 ( y-o-y)

-16% +12% +23%

(1) Source: Federal State Statistics Service

11

1 103837 868 1 018 1 191

1 4691 335

1 7621 7131 534

1 3661 1641 117

1 478

1Q08 1H08 9M08 2008 1Q09 1H09 9M09

Net Debt

1.6

1.1

1.7

0.9

1.71.4

0.8

1.4

0.7

1.4

2005 2006 2007 2008 9M09

Total Debt / Adj. EBITDA Net Debt / Adj. EBITDA

11

Debt Overview

(1) Total debt: short-term borrowings and current portion of long-term borrowings, short-term promissory notes payable, long-term borrowings, long-term promissory notes payable and restructured tax liabilities.(2) Excluding promissory notes.

Credit metrics

20% 30% 34% 32% 31%17%

12% 13% 13% 10%

39% 25% 19% 20% 30%

25% 33% 35% 35% 30%

2005 2006 2007 2008 9M09

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

(% o

f deb

t)

Debt maturity profile (2)

Total Debt (1), RR billion

12

Key Factors in 2009

Quick recovery in production and sales started from 3Q09

Reduced purchases from Turkmenistan

Core assets consolidation: NIS(1Q09), Sibir Energy(2Q09), Moscow Refinery(2Q09), Salavatnefteorgsintez(2Q09), SeverEnergia(3Q09)

Foreign currency exchange rates dynamics

Are main factors which influenced company’s financial performance during 2009