Today, the Board of Directors of PJSOC Bashneft has approved the management’s report on consolidated results of PJSOC Bashneft and its performance against the business plan for 2015.

'The Board of Directors is glad to point out that, despite external challenges, in 2015 Bashneft achieved a strong operational and financial performance,' commented Alexey Teksler, Chairman of the Board of Directors. 'Last year, the Company not only remained a leader in the Russian oil industry in terms of production growth but also delivered the best IFRS results in its history and achieved impressive growth of its shareholder value. These results prove once again that Bashneft lives up to its reputation as a growing efficient company that is attractive to investors.'

In accordance with a directive from the Government of the Russian Federation, the Board of Directors has approved the number and the list of members of the Company’s Management Board comprising the following persons:

• Alexander Korsik, President, Chairman of the Management Board;
• Kirill Andreychenko, Vice President for Corporate Governance and Legal Issues;
• Alexey Lisovenko, Vice President for Economics and Finance, Chief Financial Officer;
• Igor Marchenko, Vice President for Strategy and Development;
• Vladislav Pozdyshev, Vice President for Organizational Development and Human Resources;
• Mikhail Stavskiy, First Vice President for Upstream;
• Denis Stankevich, First Vice President for Refining and Commerce.

The Board of Directors has approved the appointment of Yakov Polunkin as Vice President for Capital Construction and Logistic Support in the Downstream Segment and the appointment of Dmitry Ryabchenko as Vice President for Capital Construction and Logistic Support in the Upstream Segment. These appointments form part of a set of measures aimed at improving the performance of the Capital Construction and Logistic Support Unit at Bashneft, which involve separating the relevant functions into the Upstream and Downstream business areas.

The Board of Directors has also approved the appointment of Dmitry Uspensky as Vice President for Crude Oil Procurement, Marketing and Logistics. Dmitry Uspensky has replaced Ruslan Gensh, who left Bashneft in October 2015.

Yakov Polunkin was born in 1975. He graduated from Gubkin Russian State University of Oil and Gas with a degree in process engineering in 1997.Since 1998 he worked in oil refining for Tyumen Oil Company and the TNK-BP Group of Companies. From 2001 through 2007 he was the General Director of CJSC Industrial Catalysts. From 2007 through 2008 he headed the Refining Department of OJSC TNK-BP Management. From 2008 through 2011 Mr. Polunkin was the General Director of the Lisichansk Refinery (Ukraine) forming part of TNK-BP. In 2011 he held the position of First Deputy General Director and General Director of OJSC Atomredmetzoloto. In February 2012, he became the Director of the Department for Management of Upgrade Programmes in Refining and Petrochemicals of JSOC Bashneft. In October 2013, Mr. Polunkin was appointed Director of the Bashneft-Ufaneftekhim Branch of PJSOC Bashneft.

Dmitry Ryabchenko was born in 1971. He graduated from National Research Irkutsk State Technical University in 1993.From 1995 through 1997 he headed a department of LLC Energostroy. From 1997 through 2000 Mr. Ryabchenko was the Executive Director of LLC Eksioil. From 2000 through 2008 he held the position of General Director of LLC Baykitskaya Oil and Gas Exploratory Expedition, LLC Slavneft-Krasnoyarskneftegaz, and the post of General Director of OJSC Messoyakhaneftegaz, a subsidiary of Slavneft. From 2008 through 2010 he was the Vice President for Capital Construction of RussNeft. In 2010 he worked as the Deputy General Director and the Director of Industrial Minerals Division at LLC BaselCement and the Director of Operations at RUSAL Global Management. From 2010 through 2012 Mr. Ryabchenko held the position of Deputy General Director for Capital Construction of OJSC NOVATEK’s Yamal LNG. In 2012 he was the Deputy General Director for Capital Construction and Logistic Support of LLC Bashneft-Dobycha. In November 2012, he was appointed Vice President for Capital Construction and Logistic Support of PJSOC Bashneft.

Dmitry Uspensky was born in 1970. He graduated from Ufa State Petroleum Technological University in 1992.Since 1992 he has held a number of positions in Bashneft Group in the sphere of domestic and export sales of petroleum products. From 2009 through 2014 he held the post of Deputy Director and Director of the Department of Wholesale Distribution on the Domestic Market of JSOC Bashneft. Since December 2014, he has been the Director of the Niche Product Sales Department of PJSOC Bashneft.