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Rosneft’s Board of Directors approves changes to the terms of the share buyback program

23 March 2020

Board of Directors of the Rosneft Oil Company decided to change the terms of the open market share buyback program also covering depositary receipts (the «Program»).

The Program was approved by the Board of Directors of the Rosneft Oil Company in August 2018. Amid high volatility in the oil markets the decision was taken to simplify the necessary procedures and lift certain limitations. The amendments are aimed at bringing the terms of the Program in line with the current market environment and do not affect the key parameters previously approved by the Company’s Board of Directors such as timeline and volumes of the Program.

Share purchases on the open market during the sharp price decline provide an attractive opportunity to enhance the shareholder value of the Rosneft Oil Company. Information on the transactions executed as part of the Program will be published on a weekly basis.

Rosneft Information Division
Tel.: + 7 (499) 517-88-97
March 23, 2020

These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.

Keywords: Corporate Governance 2020