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Information for DR holders

The Company's depositary receipts are listed on the London Stock Exchange and are currently among the most liquid depositary receipts issued by corporate issuers in Eastern Europe.  

Besides, the Company's depositary receipts are traded on the Frankfurt, Munich, and Stuttgart stock exchanges, as well as on the US OTC market.

There are currently two major depositary receipt programs for the Company, Level I ADR Program and Rule 144A Program: CUSIP # 69343P105 (US ISIN: US69343P1057) and CUSIP # 69343P204 (US ISIN: US69343P2048).

Depositary Bank

Citibank, N.A.  (hereinafter referred to as Citibank) is the depositary bank for the depositary receipt programs (hereinafter referred to as the Depositary Bank), also acting as the company’s transfer agent, registrar and distributor of dividends accruing on depositary receipts.

URL: https://www.citiadr.idmanagedsolutions.com/www/drfront_page.idms 

​​388 Greenwich Street, New York, NY, USA 10013 

Moscow

6 Gasheka Street, Moscow, Russia 125047 

Head of Business Development, Russia and CIS 

New York

388 Greenwich Street, New York, NY, USA 10013

Head of Business Development, Russia and CIS

London

25 Canada Square, London GB E14 5LB

Head of Business Development, Russia and CIS

Entitlement to Dividends

For distribution of dividends accruing on DRs please visit the Citibank, N.A. website: https://www.citiadr.idmanagedsolutions.com/stocks/profile.idms?cusip=69343P105 

For more details you may also contact:

480 Washington Boulevard, 30th Floor, Jersey City, NJ 07310 

Different tax rates are applied to the dividends being distributed. If dividends are distributed based on DR ownership, the applied income tax rate depends on whether consolidated information has been disclosed to the tax agent as prescribed by the Russian Tax Code. In order to comply with the above requirements, international custodian banks, brokers or other agents (hereinafter referred to as the Intermediary Agents), acting on behalf of the beneficial holders registered as of the date of making the list of persons entitled to dividends (register closure date for dividend distribution), shall submit the relevant information to the Depositary bank, including the number of depositary receipts, country of tax residence, rate set forth in the relevant double taxation agreement, and information as to whether such beneficial holders are entities or individuals.

The above information shall be prepared by the Intermediary Agents based on the documents that are available to them (including tax residence certificates) and shall be submitted to the Depositary Bank. The information submitted by the Intermediary Agents is consolidated by Citibank, acting as the Depositary Bank for PJSC LUKOIL DR programs to be then forwarded to the tax agent (Sberbank of Russia).


GENERAL SHAREHOLDERS MEETINGS – Voting Instructions and disclosure

Depositary receipt holders issue to Citibank, in its capacity as Depositary Bank for the PJSC LUKOIL depositary receipt programs instructions to vote the shares presented by their depositary receipts. Citibank, in its capacity as Depositary Bank for the PJSC LUKOIL depositary receipt programs, will cast votes attributed to common shares being part of PJSC LUKOIL depositary receipt programs in accordance with the timely and valid instructions received from the depositary receipt holders. Russian law requires that voting instructions should expressly specify how votes must be cast.

For the votes of depositary receipt holders to be cast at a general shareholders meeting, the voting instructions expressly specifying how votes must be cast have to be issued prior to the date set by the Depositary Bank.

At the same time, one must disclose his/her ownership information as required by the Russian law. It is crucial and essential that the brokers/intermediary banks disclose depositary receipt holder details (including the number of depositary receipts being held, registration number, registration date, etc.). The Depositary Bank will specify in the notice to be circulated to depositary receipt holders the information that must be disclosed when submitting voting instructions to the Depositary Bank.   For his/her vote to be taken into consideration at a shareholders meeting, a depositary receipt holder must strictly comply with these disclosure requirements.  In this case, the Depositary Bank following receipt of the above information shall make a consolidated list of depositary receipt holders' disclosures and transmit such information to PJSC LUKOIL.