Internal Audit Commission

In accordance with Rosneft’s Charter, the Internal Audit Commission is entrusted with the control over the Company’s financial and economic activities.

The Internal Audit Commission is an integral part of Rosneft’s financial and economic control system, along with the Board’s Audit Committee, the independent auditor, the Internal Audit Department, and the Internal Control Department. The Commission’s primary function is to control the execution of the Company’s financial and economic plan approved by the Board of Directors.

The Internal Audit Commission is composed of 5 members elected by the Company’s Annual General Shareholders’ Meeting for a term until the close of the next Annual General Shareholders’ Meeting.

On June 10, 2011, Rosneft’s Annual General Shareholders’ Meeting resolved that the following nominees be elected to the Company’s Internal Audit Commission:

• Irina Baronova
• Georgy Nozadze
• Sergey Pahomov
• Tatiana Fiscenko
• Alexander Yugov

Detailed information on the members of Rosneft’s Internal Audit Commission is available here.

The Internal Audit Commission’s activities are governed by the following documents:

Rosneft’s Charter

Regulation on Rosneft’s Internal Audit Commission

Rosneft’s Corporate Governance Code

Detailed information on activities of the Internal Audit Commission and other bodies of the audit and control system of Rosneft can be found in the Annual Report.