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Rosneft Board of Directors approves resumption of Share Buyback Program

01 April 2024

Rosneft's Board of Directors has resolved to resume the Open Market Share Buyback Program (hereinafter, the Program) and to extend its implementation period until 31 December 2026. The maximum buyback amount is not to exceed RUB 102,6 billion (USD 1.13 billion), which is equivalent to the amount of funds not spent under the previous stages of the Program.

The number of shares to be purchased in the open market depends on market conditions at the time of the Program. Having such an instrument will ensure support for securities in case of high volatility in the market and create attractive opportunities for increasing the Company’s shareholder value.

Active implementation of the Program came in the first half of 2020 when amid the introduction of restrictions caused by the spread of COVID-19, oil prices collapsed with a subsequent drop in oil companies' quotations.

Extension of the Program for repurchasing own securities demonstrates the Board's confidence in Company's fundamentals and development prospects. As for acquired securities, the Board will decide on them upon the Program completion.

The Company will make regular public disclosures on the transactions made under the Program.

Information and Advertising Department
April 1, 2024

These materials contain statements regarding future events and expectations that constitute forward-looking statements. 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 that 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.