• HYDROCARBON PRODUCTION AMOUNTED TO 63.1 MLN TOE
• LIQUID HYDROCARBON PRODUCTION – 45.2 MLN TONS
• GAS PRODUCTION – 21.8 BCM
• EBITDA UP TO RUB 728 BLN
• NET INCOME ATTRIBUTABLE TO ROSNEFT SHAREHOLDERS INCREASED TO RUB 115 BLN

Rosneft Oil Company (hereinafter – Rosneft, the Company) announces its results for Q1 2026 prepared in accordance with the International Financial Reporting Standards (IFRS).

Commenting on the results for Q1 2026, Rosneft’s Chairman of the Management Board and Chief Executive Officer Igor Sechin said:

"In 2026, the oil industry is operating under the conditions of extreme price volatility. The stagnation observed in January-February has given way to a price rally in March driven by escalating tensions in the Middle East. At the same time, the industry continues to face significant operational risks. These primarily include restrictions imposed by Transneft on crude intake into the pipeline system, disruptions to export terminals, and attacks on the Company's facilities, including refineries, tank farms, and pumping stations. Given the above, the Company is assessing the need to provision for potential assets impairments, which could adversely impact financial results.

In this environment, the Company's revenue in the reporting quarter of 2026 increased by 4% quarter-on-quarter, with EBITDA demonstrating a significant 37% increase driven by cost control and seasonal factors.

Meanwhile, transportation costs – directly tied to tariff hikes by natural monopolies – remained stably high. The long-standing practice of indexing tariffs above inflation exacerbates inflationary risks and stifles real economic growth.

Prioritizing shareholder interests remains Rosneft's top priority. On May 12, the Board of Directors recommended that the General Shareholders Meeting pass a resolution on the payment of final dividends. As the macroeconomic environment stabilizes and both production volumes and profits grow, we will strive to increase the income of our shareholders".

Operational performance indicators

Exploration and Production

In Q1 2026, the Company’s average daily hydrocarbon production increased by 0.9% quarter-on-quarter, reaching 5,214 th. boepd. The total production volume for the period amounted to 63.1 mln toe.

Average daily production of liquid hydrocarbons in Q1 2026 amounted to 3,740 th. bpd, which is 0.4% lower quarter-on-quarter. Total production for the period was 45.2 mln tons. This indicator was primarily impacted by adverse weather conditions in West and East Siberia.

The Company's average daily gas production in Q1 2026 reached 1,474 th. boepd, a 4.3% increase quarter-on-quarter. Total production for the period was 21.8 bcm. Production growth was primarily driven by offshore projects.

In Q1 2026, production drilling footage exceeded 2.5 mln meters, over 0.6 th. new wells were commissioned, with 73% of them being horizontal.

Vostok Oil Project

In Q1 2026, the Company continued to implement a large-scale exploration program and pilot development of the Payakha and Ichemminskoye fields as part of the Vostok Oil project. Production drilling footage exceeded 18,000 meters and five development wells were completed. Pilot production commenced at the Peschaniy license area of the Payakha field.

In preparation for the 2026 technical launch, over 700 km of oil pipeline, including a 422 km dual-pipe section, were fully welded and laid to design elevations as of the end of March. Cleaning, calibration, and pressure testing of the pipeline are nearing completion.

Two cargo berths and a berth for the port fleet at the Sever Bay Port terminal are prepared to accept vessels. The construction of the first oil loading berth is at a high readiness posture, while the filling and construction of process structures at the second berth continues. The final stages of construction are in progress at the site facilities to launch external transport system of the Vostok Oil project.

Refining

Oil refining throughput in Q1 2026 amounted to 18.9 mln tons, a 5.2% increase quarter-on-quarter. The increase in refining throughput was driven by the renewal of operations at some refineries following turnaround and maintenance works at the end of 2025. The refining depth increased to 76.9%, while the light product yields reached 59.6%.

Sustainable supply of high-quality motor fuel to Russian consumers is one of Rosneft's key priorities. In Q1 2026, the Company sold 9.7 mln tons of petroleum products on the domestic market, including 3.1 mln tons of gasoline and 3.7 mln tons of diesel fuel.

Financial indicators

Operational performance, the current macroeconomic environment and management decisions collectively shaped the Company's key financial indicators.

Against the backdrop of rising ruble prices for Urals crude oil, the Company's revenue¹ in Q1 2026 amounted to RUB 2,032 bln, a 4.3% increase quarter-on-quarter. Driven by revenue growth and cost control, EBITDA in Q1 2026 increased to RUB 728 bln, with EBITDA margin of 36%.

The net income attributable to Rosneft shareholders in Q1 2026 reached RUB 115 bln. The growth was attributable to an increase in EBITDA and a number of non-cash and one-off factors, including foreign exchange differences.

CAPEX in Q1 2026 amounted to RUB 418 bln. The indicator growth was driven by the ramp-up of the investment program at the key Upstream assets.

The net debt / EBITDA ratio at the end of Q1 2026 was 1.7х, which is several times below the minimum covenant value in accordance with the loan agreements.

ESG

In the reporting period, the Company continued activities aimed at achieving sustainable development goals under the "Rosneft-2030" Strategy.

Rosneft applies advanced technologies and state-of-the-art production methods to create a safe working environment and minimize the risk of work related

injuries and occupational diseases. In Q1 2026, the Lost Work Injury Severity Rate (LWIS) reduced by 59%.

Incident prevention measures resulted in a lower number of process safety events at the Company subsidiaries in Q1 2026. In particular, the frequency rate of severe loss of containment events (PSER-1) went down by 49% against Q1 2025, and PSER-2 decreased by 55%.

As part of the work to minimize oil and petroleum product spills, measures were taken to replace field pipelines.

The Company's leadership in sustainable development receives independent external confirmation. In February 2026, Rosneft confirmed its status as one of the most innovation-focused companies in Russia and entered the top five in the first scientific and technological development rating of the 300 major Russian companies by the AK&M agency.

¹ This includes sales revenue and income from associates and joint ventures.

Department of Information and Advertising
Rosneft Oil Company
June 1, 2026

These materials contain statements regarding future events and expectations that are forward-looking estimates. Any statement in these materials that is not historical information is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by these forward-looking statements. We assume no obligation to adjust the data contained herein to reflect actual results, changes in underlying assumptions or factors affecting the forward-looking statements.