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I. Graifer, Chairman of the Board of directors of LUKOILV. I. Graifer, Chairman of the Board of directors of LUKOILV. Alekperov, President of OAO LUKOIL V. Alekperov, President of OAO LUKOIL Oilmen of LUKOILOilmen of LUKOILProduction facilities of the Caspian Yuri Karchagin fieldProduction facilities of the Caspian Yuri Karchagin fieldOffshore platforme D6 in the Baltic Sea. Kratsovskoe fieldOffshore platforme D6 in the Baltic Sea. Kratsovskoe field Permnefteorgsintez Refinery Permnefteorgsintez RefineryVolgograd RefineryVolgograd Refinery Uhtaneftepererabotka Refinery Uhtaneftepererabotka Refinery Nijnegorodnefteorgsintez Refinery Nijnegorodnefteorgsintez RefineryMini refineries in KogalymMini refineries in KogalymPetrotel-LUKOIL (Romania)Petrotel-LUKOIL (Romania)LUKOIL Neftokhim Burgas (Bulgaria)LUKOIL Neftokhim Burgas (Bulgaria)Odessa Refinery (Ukraine)Odessa Refinery (Ukraine)Filling station commissioning in New-YorkFilling station commissioning in New-YorkChange of brand of a filling station in the USAChange of brand of a filling station in the USADmitry Medvedev, Prime Minister of the Russian Federation, visited the ice-rsistant platform at the Y.Korchagin field in the Caspian Sea. October 02, 2013Dmitry Medvedev, Prime Minister of the Russian Federation, visited the ice-rsistant platform at the Y.Korchagin field in the Caspian Sea. October 02, 2013President of Russia Dmitry Medvedev visited Krasnodarskaya Combined Heat and Power Plant (CHPP) of OOO LUKOIL-Kubanenergo and participated in the launch of a new 410 MW combined-cycle gas turbine (CCGT-410). October 8, 2011President of Russia Dmitry Medvedev visited Krasnodarskaya Combined Heat and Power Plant (CHPP) of OOO LUKOIL-Kubanenergo and participated in the launch of a new 410 MW combined-cycle gas turbine (CCGT-410). October 8, 2011The first large-tonnage oil shipment through the FOIROT (Varandey Oil Export Terminal). June 9, 2008The first large-tonnage oil shipment through the FOIROT (Varandey Oil Export Terminal). June 9, 2008Mounting of mooring cargo handling system on the FOIROT (Varandey Oil Export Terminal)Mounting of mooring cargo handling system on the FOIROT (Varandey Oil Export Terminal)Loading of FOIROT onto sea-going barges (Varandey Oil Export Terminal)Loading of FOIROT onto sea-going barges (Varandey Oil Export Terminal)Construction of Varandey TerminalConstruction of Varandey TerminalCommissioning of a catalytic reforming installation at the Volgograd RefineryCommissioning of a catalytic reforming installation at the Volgograd RefineryNakhodkinskoye gaz field commissioningNakhodkinskoye gaz field commissioningOil Spill Response Exercise in the Caspian SeaOil Spill Response Exercise in the Caspian SeaInternational training exercises at Varandey oil export terminalInternational training exercises at Varandey oil export terminalAnti-terrorism exercises at Vysotsk oil terminalAnti-terrorism exercises at Vysotsk oil terminalInternational anti-terrorism exercises at Volgograd RefineryInternational anti-terrorism exercises at Volgograd RefineryInternational exercise at RPK-Vysotsk LUKOIL-IIInternational exercise at RPK-Vysotsk LUKOIL-IIFire-prevention trainings in Kaliningrad RegionFire-prevention trainings in Kaliningrad RegionExercises Kaliningrad 2004Exercises Kaliningrad 2004Post cardsPost cardsSecuritiesSecuritiesPhotoPhotoEnvelopesEnvelopesStampsStampsReportsReportsFor Investors and AnalystsFor Investors and AnalystsFor ShareholdersFor ShareholdersGeneral Shareholders MeetingsGeneral Shareholders MeetingsShareholders EquityShareholders EquitySecurities trading statisticsSecurities trading statisticsFCA DisclosureFCA DisclosureFinancial ReportsFinancial ReportsLUKOIL Annual ReportsLUKOIL Annual ReportsLUKOIL Data BooksLUKOIL Data BooksLUKOIL Fact BookLUKOIL Fact BookSustainability ReportSustainability ReportCorporate Governance ReportCorporate Governance ReportFinancial FundamentalsFinancial FundamentalsOperating HighlightsOperating HighlightsPresentationsPresentationsFinancial CalendarFinancial CalendarInvestment calculatorInvestment calculatorAnalyst CoverageAnalyst CoverageInvestor Trips to Sites Investor Trips to Sites ContactsContactsPerm (2013)Perm (2013)Lower VolgaLower VolgaUzbekistanUzbekistanPerm (2003)Perm (2003)Karachaganak Karachaganak West SiberiaWest SiberiaEgyptEgyptShareholder Relations Policy of OAO LUKOILShareholder Relations Policy of OAO LUKOILInvestment calculatorInvestment calculatorDividendsDividendsDepositary Receipts Depositary Receipts FAQFAQContactsContactsAnnual General Shareholders MeetingAnnual General Shareholders MeetingExtraordinary General Shareholders Meeting Extraordinary General Shareholders Meeting History of Share Capital History of Share Capital ShareholdersShareholdersCompany SecuritiesCompany SecuritiesShare price informationShare price informationDebt securities price informationDebt securities price informationShare price historyShare price historyInvestment calculatorInvestment calculatorOil and Gas ReservesOil and Gas ReservesExplorationExplorationOil ProductionOil ProductionGas Production Gas Production Oil RefiningOil RefiningOils and lubricantsOils and lubricantsGas Processing Gas Processing PetrochemicalsPetrochemicalsCrude Oil DeliveriesCrude Oil DeliveriesGas DeliveriesGas DeliveriesPetroleum Product MarketingPetroleum Product MarketingPersonnel Management PolicyPersonnel Management PolicySocial Code of OAO LUKOIL Social Code of OAO LUKOIL Charity and Social ActivitiesCharity and Social ActivitiesSportsSportsCorporate retirement programCorporate retirement programSupport for Orphanages and Educational Establishments for ChildrenSupport for Orphanages and Educational Establishments for ChildrenEducation Programs Education Programs Support for Medical Institutions Support for Medical Institutions Social Project ContestSocial Project ContestSupport for Museums and Creative TeamsSupport for Museums and Creative TeamsPublishing ProjectsPublishing ProjectsSupport for Religious ConfessionsSupport for Religious ConfessionsTargeted AssistanceTargeted AssistanceCorporate VolunteeringCorporate VolunteeringOAO LUKOIL's Special Projects OAO LUKOIL's Special Projects Corporate Sporting Events Corporate Sporting Events Company Policy Company Policy Caring for the Environment Caring for the Environment cological monitoringcological monitoringCertificationCertificationImplementing the Kyoto ProtocolImplementing the Kyoto ProtocolGreen InitiativesGreen InitiativesNew Generation Motor FuelNew Generation Motor FuelUtilization of Associated Petroleum GasUtilization of Associated Petroleum GasGreen News LukoilGreen News LukoilRenewable energyRenewable energyAssociated SitesAssociated SitesSubsidiaries' WebsitesSubsidiaries' Websites
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FAQ

Depositary Receipts (DR)
What is an DR?
 
Depositary Receipts (DRs) are negotiable U.S. securities that generally represent a non-U.S. company's publicly traded equity. DRs can trade on all U.S. stock exchanges as well as on many European stock exchanges. They are created when a broker purchases a non-U.S. company's shares on its home stock market and delivers the shares to the depositary's local custodian bank, and then instructs the depositary bank to issue DRs. In addition, DRs may also be purchased in the U.S. secondary trading market. They may trade freely, just like any other security, either on an exchange or in the over-the-counter market and can be used to raise capital.
 
What is the difference between an DR and an ADS?
 
An DR (Depositary Receipt) is a negotiable certificate issued by a depositary bank representing a specific number of shares of a non-U.S. company traded on a U.S. stock exchange.  An ADS is the share issued under the DR agreement, which is actually traded.
 
What is the ratio of an DR to an ordinary share?
 
One (1) LUKOIL DR (CUSIP 677862104) represents One (1) LUKOIL Ordinary share.
 
Where are LUKOILs DRs traded?
 
LUKOILs DRs in the US are traded in the OTC Market under the ticker symbol LUKOY. The CUSIP Number is 677862104. To learn more about LUKOILs DRs, please visit http://adrbnymellon.com/. In Europe LUKOILs DRs are traded in the IOB system on the London Stock Exchange and on Frankfurt, Munich and Stuttgart stock exchanges. 
 
What is the symbol for LUKOIL DRs on the main stock exchanges?
 
LKOD - on the London Stock Exchange;
LUKOY - on the US OTC Market.
 
What is the symbol for LUKOIL shares on the local stock exchanges?
 
LKOH - on the MICEX (Moscow Interbank Currency Exchange);
LKOH - on the RTS (Russian Trading System).
 
Who is LUKOILs depositary bank, transfer agent, registrar and exchange agent for DR shares?
 
The Bank of New York Mellon is the depositary bank for LUKOIL, also acting as a transfer agent, registrar and a dividend paying agent. It manages all aspects of the proxy voting process. 
 
What if I lose my DR certificate, dividend check or tax voucher?
 
Please contact BNY Mellon Shareowner Services as soon as possible.
Toll Free Telephone for U.S. Callers: 1-888-BNY-ADRS (1-888-269-2377)
Telephone for International Callers: 001-201-680-6825
 
What if I have more than one DR certificate? Can they be combined?
 
Yes, please send your certificates to BNY Mellon Shareowner Services, P. O. Box 358016 Pittsburgh, PA 15252-8016 with a specific request to combine the multiple certificates into one certificate. Please be advised that holdings over 250 shares may require additional paperwork.
 
What if I need to change my home address?
 
Simply go to BNY Mellon's on-line tool, Investor Service Direct (ISD) and change your address online:

Alternatively, feel free to contact BNY Mellon Shareowner Services via the following methods:
Write to us:
BNY Mellon Shareowner Services
P. O. Box 358016
Pittsburgh , PA 15252-8016

By Phone:
Toll Free in the U.S: 1-888-BNY-ADRS (1-888-269-2377)
International Callers: 0011-201-680-6825

Website: www.bnymellon.com/shareowner
 
How can shareholders know the current value of their investment in LUKOIL securities?
 
Please visit LUKOIL home page www.lukoil.com to get quotes for LUKOIL securities. LUKOIL DR quotes on the US OTC are available at http://www.otcbb.com/asp/Info_Center.asp (the ticker symbol - LUKOY). And LUKOIL DR quotes on the London Stock Exchange are available at http://www.londonstockexchange.com/en-gb/pricesnews/prices/International+companies (the ticker symbol LKOD).
 
How can DRs be purchased?
 
DRs can be purchased through Global BuyDIRECT, a Bank of New York Mellon-sponsored dividend reinvestment and direct purchase program for DRs. Each participating company's plan allows its existing shareholders to use dividends paid by the company to automatically purchase DRs. The plans also allow first-time and existing investors to purchase DRs of participating companies. All such investments are made through The Bank of New York Mellon as transfer agent. As a participant in Global BuyDIRECT, investors benefit from the direct ownership of their DRs, the efficiency of receiving corporate communications directly from the DR issuer, and the savings resulting from reduced brokerage and transaction costs.

Questions or correspondence about Global BuyDIRECT should be addressed to:
BNYMellon Shareowner Services
P. O. Box 358016
Pittsburgh , PA 15252-8016

To request plan brochures and enrollment forms for companies offering Global BuyDIRECT, please call: 1-800-345-1612
Toll Free Telephone for U.S. Global BuyDIRECT Participants: 1-888-BNY-ADRS (1-888-269-2377)
Telephone for International Callers: 1-201-680-6825
 
DRs can also be purchased through your Broker. Investors can always purchase Depositary Receipts through their own full-service, discount, and on-line brokerage firms in the USA and Europe as well as in other regions of the world.
 
How do I convert my ordinary shares into DRs?
 
Converting ordinary shares into DRs must be done through a broker or an investment advisor.
 
What is an alternative to a physical certificate?
 
Book-entry registration is an electronic alternative to a physical certificate. It allows You to move your shares electronically via the DRS/Profile to a broker. This eliminates the physical movement of stock certificates at the time of sale or transfer of ownership. You as a shareowner will have the ability to self-service your account online via Investor ServiceDirect and the Bank of New York Mellons speech-enabled Voice Response Unit. This method is beneficial due to immediate simplification of transaction processing and you as a shareholder will minimize associated expenses as well as be provided with more robust management reporting.
 
What is the difference between a registered holder and a beneficial DR holder?
 
A registered holder is one whose name appears on the books of the depositary.  The registered holder is considered the owner of the record. 
A beneficial holder is one whose holdings are registered in a name other than his or her own, such as the name of a broker, bank or nominee.
 
Dividends
 
Who is responsible for making the decision on dividend payment?
 
The decision on dividend payment, including dividend rate, dividend payment date and all of the payment details is made at the time of the Annual General Shareholder Meeting (AGM). The dividend rate shall not be less than the rate recommended by the Board of Directors. If the dividend rate is not set by the Board of Directors, the dividend rate shall not be put to vote at the AGM.
 
Who is entitled to receive dividends?
 
The parties entitled to receive dividends are those shareholders, who appear on the Companys registrar as of the Record Date for that particular Annual Shareholder Meeting.

Who is entitled to receive dividends for ordinary shares for the 2012 financial year?


The parties entitled to receive dividends are those shareholders, who appear on the Companys registrar as of the 13 of May, 2013 (the record date) for that particular Annual Shareholder Meeting.


What is the payment date for the current dividend and where has it been in previous years?

 
For information, regarding DR dividends and distributions please visit http://www.adrbnymellon.com/dr_profile.jsp?cusip=677862104 . For additional information regarding these matters, please contact Rhonda Clarke at 212-815-2269, Esther Su at 212-815-4133 or Andy Roche at 212-815-2734. 
   
What is the time period during which the payment of dividends occurs?
 
The decision on dividend payment is made at the AGM. In accordance with OAO LUKOILs Charter, the term of annual dividend payments shall not exceed 60 days from the date the decision on their payment was passed.
 

What is the dividend rate for the 2012 financial year?


In accordance with the decisions taken by the Extraordinary General Shareholders Meeting of OAO LUKOIL held on December 18, 2012 and the Annual General Shareholders Meeting held on June, 26 2013 the dividend rate for the corresponding reporting period of the 2012 financial year was approved at 40 rubles per ordinary share and 2012 financial year dividend rate was approved at 50 rubles per ordinary share (thus the total dividend amount is 90 rubles per ordinary share).


As an eligible shareholder, am I obligated to pay taxes on the dividends I am entitled to receive? What is the tax rate?

 
In accordance with the Tax Code of the Russian Federation dividends are considered to be revenue and are subject to taxation. If a Company pays dividends, it is considered to act as a tax agent in reference to the taxable income and taxable profit from the revenue of those individuals who are partially involved in activity of other organizations (pp.2.p.214 and p.2, p.3 art.275 of the Tax Code of the Russian Federation). In other words, the Company shall deduct and withhold from the dividend recipient a certain tax rate (depending on individuals type and residency) and transfer it to the budget of the Russian Federation. This means that an individual will receive a dividend rate net the amount of taxes which were deducted in accordance with the Russian tax legislation. The following tax rates are applied according to individuals type and residency:
 
Individuals who are residents of the Russian Federation - 9%. (pp.1 p.3 art.284 of the Tax Code of Russia);
Individuals who are non-residents of the Russian Federation - 15% (p.3 art.224 of the Tax Code of Russia);
Legal entities who are residents of the Russian Federation - 9% (pp.1 p.3 art.284 of the Tax Code of Russia);
Legal entities who are non-residents of the Russian Federation - 15% (pp.2 p.3 reg.284 of the Tax Code of Russia).
 
If a foreign legal entity which is entitled to receive dividends is a resident of a country which has an Avoidance of Double Taxation agreement with the Russian Federation, there is a possibility of tax relief or a way to apply a lower tax rate, according to the art. 7 and 312 of the Tax Code of Russia.
 
 
AGM
 
What happens at the Annual General Meeting?
 
At the Annual General Meeting ("AGM), shareholders gather to make some basic decisions about the management of the Company for the upcoming fiscal year.  Routine matters, such as the election of directors and auditors, are voted upon at every AGM. Non-routine matters that require a shareholder vote can also be decided at an AGM. At the meeting itself, the management will report the results of the prior year, discuss any pending matters, and then conduct a shareholder vote on all items of the AGM agenda.
 
Can DR holders vote during LUKOILs AGM Meeting?
 
Usually yes, but according to the legislation of the RF the meeting itself is for local shares represented by ADS. However, once voting rights have been extended to DRs - all holders of DRs are entitled to vote through LUKOILs Depositary Bank. The Bank of New York Mellon will vote the ordinary shares in custody as per the instructions of the underlying holders of the DRs at the shareholder meeting.
 
For Registered Holders (who do not use a broker-dealer as an intermediary and have a direct relationship with the Depositary), the requirement is a written instruction from the holder. In practice, the Depositary sends out direct mail and enables a web page for those who wish to vote via the internet. 

For Beneficial Holders (who have purchased their shares via a bank or broker), the process is similar, although the actual entity entitled to vote is the bank or broker.
 
When is the next Annual General Meeting?
 
According to the RF Federal Law on Shareholder Companies and OAO LUKOIL Charter, AGM should be held not earlier than 2 months and not later than 6 months after the end of the financial year. The dates for the next AGM have not been announced. Please refer to LUKOILs website until further notice will be posted  http://www.lukoil.com/static_6_5id_2108_.html  .


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