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Information for DR holders

The Company's depositary receipts are listed on the London Stock Exchange, and they are also traded on the Frankfurt, Munich, and Stuttgart stock exchanges and 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).

ON THE DEPOSITARY RECEIPT PROGRAM IN RELATION TO THE FEDERAL LAW №114-FZ

The Federal Law №114-FZ was published on 16 April 2022.

The Law obliges Russian issuers in the period from 27 April to May 5 2022 to take actions to terminate depositary agreements related to the circulation of depositary receipts (hereinafter DRs). Meanwhile, issuers are entitled to apply for extension of their DRs circulation, although this application does not guarantee a permission to extend the circulation of DRs.

Starting from 27 April 2022 the issuance of new DRs will be prohibited, while outstanding DRs will not be entitled for voting rights and dividends.

DR holders can convert their DRs into shares. However, the conversion is only possible for DRs purchased prior to April 27, 2022. The conversion of DRs into shares will be possible until the date of termination of the depositary agreements, which is determined by the issuer in accordance with the terms of the depositary agreements. The shares received through the conversion are entitled for voting rights and dividends.

The conversion of DRs into shares is carried out only upon submission of appropriate instructions to brokers in Russian Federation and abroad. Automatic conversion is not possible.

Citibank, N.A. is depository bank for PJSC LUKOIL DR programs. The procedure for converting DRs into shares can be found on the website of the depository bank at the following link: https://depositaryreceipts.citi.com/adr/common/file.aspx?idf=5929.

To convert DRs into shares, depo account open in Russian broker (depository) is required. To open the depo account in Russian broker (depository), it is required to have banking account open in Russian bank.

In case of further questions, please use the email address shareholder@lukoil.com.

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.

For more details on depositary receipt programs for the Company`s shares you may contact:

ENTITLEMENT TO DIVIDENDS

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

GENERAL SHAREHOLDERS MEETINGS

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 (also - DRs).

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.

For a DR holder votes to be taken into consideration at a shareholders meeting, they must strictly comply with the following requirements:

    1. The voting instructions have to be issued prior to the date set by the Depositary Bank (Citibank);

    2. The following details in respect to each voting DR holder must be disclosed:

 - the name of a DR holder (legal entity name)

 - the number of DRs being held

 - the DR holder address

 - registration number of a DR holder (legal entity) or other registration details in compliance with the law of the country where a DR holder was established.