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Rosneft Oil Company

December 3, 2012

Rosneft held extraordinary meeting of shareholders

An extraordinary general meeting of Rosneft shareholders was held in Khabarovsk on November 30. The meeting was attended by holders of 97.6% of shares in the Company.

The decision was taken to pay additional dividends of RUB 41.9 billion (on top of the earlier announced dividends for FY 2011 (the decision to pay these was made at the annual general meeting of shareholders (on the results for 2011)). The dividend approved at the extraordinary meeting of Rosneft shareholders is equal to 4.08 rubles per listed share. This means the total amount of net profit paid as dividends for FY 2011 is 78.49 billion rubles (25% of IFRS net profit). The total dividend per listed share is 7.53 rubles (including the decision taken at the annual general shareholders’ meeting held on June 20, 2012 that approved a dividend of 3.45 rubles per share).

In addition, the shareholders elected members to the new Board of Directors comprised of 9 persons, namely:

  1. Matthias Warnig, Managing Director, Nord Stream AG,
  2. Mikhail V. Kuzovlev, President, Chairman of the Board, Bank of Moscow,
  3. Nikolai P. Laverov, Vice President, Russian Academy of Sciences,
  4. Alexander D. Nekipelov, Vice President, Russian Academy of Sciences,
  5. Hans-Joerg Rudloff, Chairman, Barclays Capital,
  6. Igor I. Sechin, President, Chairman of the Management Board, Rosneft,
  7. Sergei V. Shishin, Senior Vice President, VTB Bank,
  8. Dmitri E. Shugaev, Deputy General Director, Russian Technologies,
  9. Ilya V. Scherbovich, President, United Capital Partners (UCP) Group.

The shareholders also approved a number of related party transactions.

Igor Sechin noted in his presentation that Rosneft has fulfilled the Russian presidential mandate to increase 2011 dividends to 25% of IFRS net profit. Importantly this decision will not require a review of the Company’s investment programme, nor will it negatively affect Rosneft’s credit rating.

The first meeting of the newly elected Rosneft Board of Directors was held after the extraordinary shareholders’ meeting. The Board of Directors approved the membership of its three committees, each of which is to be chaired by an independent director. Hans-Joerg Rudloff will lead the Audit Committee, Sergei V. Shishin will head the HR and Remuneration Committee and Nikolai P. Laverov will chair the Strategic Planning Committee. Alexander D. Nekipelov was re-elected Chairman of the Board. His deputies are Hans-Joerg Rudloff, Sergei V. Shishin and Nikolai P. Laverov.

Rosneft Vice President Zeljko Runje was appointed a member of the Management Board at the Company to replace Alexei Perepelkin.




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