C A T oil : Business model verified - record operational and financial results in full year 2013

 Revenues increased by more than one fourth yoy to EUR 426.6 million

 EBITDA up 43.6% yoy to EUR 114.9 million - efficiency gains boost EBITDA margin by 3.1 percentage points to 26.9%

 Net income surged by more than 140% yoy to EUR 50.8 million

 Proposed dividend of EUR 0.35 per share, up 40% from the previ- ous year level

 Outlook 2014: revenues in the range of EUR 420 to 450 million and EBITDA from EUR 113 to 121 million based on the underlying as- sumption of more than 10% yoy rouble devaluation

 CEO Manfred Kastner: "Our strong numbers in 2013 underscore the first year of all our core services, fracturing, sidetracking and drilling, in full operation, and clearly confirm our strategy of fo- cusing on efficiency and portfolio optimization."

336.8 million) and EBITDA by 43.6% yoy to EUR 114.9 million (2012: EUR
80.0 million) as the EBITDA margin widened by 3.1 percentage points to
26.9% (2012: 23.8%). Net income surged by more than 140% yoy to EUR
50.8 million (2012: EUR 21.0 million). Along with sound top- and bottom-line growth C.A.T. oil rolled-out and accomplished its 2013 investment program to reinforce its operating platform and pave the way for further business expan- sion. Despite the elevated geopolitical and macroeconomic uncertainties C.A.T. oil stays firmly adhered to its profitable growth strategies residing upon its high-class service offering tailored to the needs of the Russian oil industry.

Manfred Kastner, CEO of C.A.T. oil, commented: "We look back at yet another exciting year following the successful implementation of the new drilling ser- vice in 2012. Our strong results in 2013 underscore the first year of all our core services, fracturing, sidetracking and drilling, in full operation, and clearly

confirm our strategy of focusing on efficiency and portfolio optimization. Hav- ing surpassed our bottom-line targets, we revealed the great potential of our Company, its strengths and capabilities. Building upon these fundaments we are determined to archive further profitable growth in the future."

Driven by high operating activity and capacity utilization levels as well as a fa- vorable service mix, C.A.T. oil's consolidated revenues went up by 26.7% yoy to a new record of EUR 426.6 million (2012: EUR 336.8 million), in line with the Company's guidance for 2013. The strong demand growth for the Compa- ny's services is witnessed by a 16.3% yoy hike in the total job count to 4,006 jobs (2012: 3,444 jobs), whereas an 9.7% yoy rise in the average per job rev- enue to TEUR 106 (2012: TEUR 97) underscores the strengthened price envi- ronment and the higher average job size and complexity.
The Company's Well Services segment boosted its revenues by 23.9% yoy to EUR 227.4 million in 2013 (2012: EUR 183.6 million) mainly due to a strong upturn in the Company's fracturing job count on the back of a burgeoning de- mand for multi-stage fracking services during the reporting period. Multi-stage fracks surged to 16% of the Company's total frack jobs (2012: 2%) as Russia's horizontal drilling footage increased 62% yoy in 2013, according to the gov- ernment agency CDU TEK. The segment's job count increased by 16.5% yoy to 3,772 jobs (2012: 3,237 jobs), whereas the average per job revenue rose by
6.3% yoy to TEUR 60 (2012: TEUR 57).
Drilling, Sidetracking and IPM segment's revenues staged a 30.4% growth yoy to EUR 199.5 million (2012: EUR 153.0 million). The increase was primarily fuelled by a 43.1% yoy expansion in the Company's drilling and sidetracking footage to 302 thousand meters (2012: 211 thousand meters). The segment's job count was up 13.0% yoy to 234 wells and sidetracks (2012: 207 wells and sidetracks), whereas the share of horizontal wells and sidetracks rose to 48% of the Company's overall drilling and sidetracking mix (2012: 38%).

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Despite swinging operating activity levels and the greater average job size and complexity, the Company's cost of sales was up only by 20.7% yoy to EUR
341.2 million during the reporting period (2012: EUR 282.7 million). Driven by the new staff additions to sidetracking and drilling operations, C.A.T. oil's total weighted average headcount rose by 10.0% yoy to 2,773 employees (2012:
2,522 employees). Thanks to the continued focus on efficiency gains and strict cost management, the Company's earnings before interest, tax, depreciation and amortization (EBITDA) staged a significant increase of 43.6% yoy to EUR
114.9 million (2012: EUR 80.0 million). Thereby, C.A.T. oil surpassed the up- per part of its EBITDA guidance range of EUR 105 to 110 million for 2013. The EBITDA margin widened to 26.9% in 2013 from 23.8% in 2012. The Company more than doubled its earnings before interest and tax (EBIT) to EUR 64.6 mil- lion (2012: EUR 32.1 million), resulting in the EBIT margin of 15.1% (2012:
9.5%).

The Company's net financial result improved to EUR -1.9 million from EUR -
2.3 million a year ago, primarily reflecting foreign currency exchange losses of EUR 0.7 million (2012: gains of EUR 0.7 million) and net interest expenses of EUR 1.1 million (2012: EUR 3.0 million). Thereby, the Group's net income was up 141.7% yoy to EUR 50.8 million in 2013 (2012: EUR 21.0 million).

C.A.T. oil's funds from operations increased by 34.1% yoy to EUR 100.1 mil- lion (2012: EUR 74.7 million) and cash flow from operating activities went up by 28.0% yoy to EUR 107.4 million (2012: EUR 83.9 million). Driven by the successful implementation of the 2013 investment program aimed at expan- sion of the Company's operating capacities by 30% for sidetracking and 10% for fracturing, capital expenditures surged 71.6% yoy to EUR 64.7 million (2012: EUR 37.7 million). Cash flow from investing activities was a net outflow of EUR 62.1 million (2012: net outflow of EUR 35.3 million) and cash flow from

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financing activities was a net outflow EUR 45.7 million (2012: net outflow of
EUR 39.4 million).
As of 31 December 2013, cash and cash equivalents amounted to EUR 42.6 million, representing an increase of 9.9% from EUR 38.8 million as of 31 De- cember 2012. The Company had net cash of EUR 24.6 million as of 31 De- cember 2013 compared to net debt of EUR 11.8 million as of 31 December
2012. The Company's equity ratio improved to 71.4% as of 31 December
2013 from 67.0% as of 31 December 2012.

To share the 2013 success with the Company shareholders, the Management Board and the Supervisory Board will propose a dividend of EUR 0.35 per share for 2013 at the AGM on 13 June 2014. This represents an increase of
40% compared to the previous year's dividend and a payout ratio of around
34%, well above the Company dividend policy's minimum payout of 20%.

Based upon encouraging industry trends and healthy demand for C.A.T. oil's high-class services, the management looks ahead at the current Fiscal Year with confidence and optimism. Despite Russia's economic growth slows down and geopolitical tensions over the Crimean crisis aggravate the Russian cur- rency weakness relative to the euro, the demand growth for oilfield services in Russia remains robust in 2014.
Supportive operating environment has become evident in the Company's or- der book development for 2014 and beyond. As of the end of April, C.A.T. oil's rouble-denominated service orders were up 27% yoy for 2014 and 71% yoy for 2014-16. In euro terms, though, the order book increased only 6% yoy to EUR 415 million for 2014 from EUR 392 million a year ago and 42% yoy to EUR 754 million for 2014-16 from EUR 530 million a year ago. The underlying assumption for the average rouble-to-euro exchange rate is 48 for 2014 and
2014-16 compared to the exchange rate of 40 a year ago.
Against the backdrop of the record order book, C.A.T. oil expects the FY2014

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revenues in the range of EUR 420 to 450 million and EBITDA ranging from EUR 113 to 121 million (based on the average rouble-to-euro exchange rate of 48).
C.A.T. oil reiterates its 2014-16 investment program of EUR 390 million aiming at expansion of operating capacities by 33% for fracturing, 55% for sidetrack- ing and 170% for drilling by the end of 2016 compared to the end of 2013.
www.catoilag.com

FTI Consulting

Thomas M. Krammer

Phone: +49 (0)69 92037-183

Email: thomas.krammer@fticonsulting.com

Steffi Fahjen

Phone: +49 (0)69 92037-115

Email: steffi.fahjen@fticonsulting.com

C.A.T. oil AG is one of the leading independent oil and gas field service contractors in Russia and Kazakhstan and is listed on the Frankfurt Stock Exchange (SDAX). C.A.T. oil provides a range of high quality services, which enable oil and gas producers to extend lifecycle of their fields or bring yet unexploited oil and gas reserves to produc- tion.

Since its foundation in 1991 in Celle, Germany, C.A.T. oil has built up a leading hy- draulic fracturing service, a very effective method of well stimulation by cracking rock formations with pressurized fluids, in Russia and Kazakhstan. Following its IPO in

2006, the Company developed a second core service of sidetrack drilling in 2006-08 and has established a strong presence in Russia's sidetrack drilling market. Sidetrack drilling is a term used to describe drilling of a new wellbore from the upper section of an existing well. In 2011-12, the Company launched the next phase of its growth and diversification strategy and set up high class drilling operations as a third core service offering. High class drilling is the classical technology of drilling vertical, inclined and horizontal wells for extraction of oil and gas. In total, the Company has already in- vested more than EUR 450 million in growth and diversification since its IPO in 2006.

Following the successful set up of high class drilling in 2011-12, C.A.T. oil introduced

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its new segment reporting in 2013 clustering its activities in "Well Services" (fracturing, cementing and completion operations) and "Drilling, Sidetracking and IPM (Integrated Project Management)".

C.A.T. oil's customer base includes the leading Russian and Kazakh oil and gas pro- ducers such as Rosneft, Lukoil, Gazprom Neft, Tomskneft VNK, Slavneft, Russneft and KazMunaiGaz. The Company has long-standing relationships with these custom- ers and has been a reliable service provider since its market entrance in the early nineties.

C.A.T. oil has its headquarters in Vienna. The Company's 2013 weighted average headcount stood at 2,773 people, most of which are based in Russia and Kazakhstan.

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1 As of 31 December 2013 and 31 December 2012 respectively

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