Audit Commission

The Audit Commission is a body responsible for auditing the Company’s financial and business operations. The Commission comprises five members who are elected on an annual basis.

The Audit Commission audits the Company’s financial and business operations, verifies accuracy and reliability of data included in Rosneft’s annual reports, annual accounting (financial) statements, and prepares proposals and recommendations for improving the efficiency of asset management and streamlining the risk management and internal control systems.

UNDER THE RESOLUTION OF THE GENERAL SHAREHOLDERS MEETING DATED 21 JUNE 2018, THE FOLLOWING PERSONS WERE ELECTED TO THE AUDIT COMMISSION:

Chairman of the Audit Commission

Zakhar Sabantsev

Born in 1974. Graduated from the Moscow State University of Economics, Statistics, and Informatics. Section Head, Bank Sector Monitoring, Consolidated and Analytical Work Section, Financial Policy Department, Ministry of Finance of the Russian Federation.

Members of the Audit Commission

Olga Andrianova

Born in 1958. Graduated from the All-Russian State Distance Learning Institute of Finance and Economics (ARDLIFE). Holder of a ministerial award – Certificate of Honor of the Russian Ministry of Energy. Chief Accountant – Head of the Finance and Economics Service of JSC ROSNEFTEGAZ.

Alexander Bogashov

Born in 1989. Graduated from the State University of Management. Department Director for Corporate Governance, Price Environment, Control and Audit Activity in the Fuel Producing Industries of the Ministry of Energy of the Russian Federation.

Sergey Poma

Born in 1959. Graduated from Nakhimov Black Sea Higher Naval School, Saint Petersburg State University. Vice President of the National Association of Securities Market Participants (NAUFOR).

Pavel Shumov

Born in 1978. Graduated from the Moscow State University of Economics, Statistics, and Informatics. Acting Deputy Department Director at the Department for State Regulation of Tariffs and Infrastructure Reforms, Ministry of Economic Development of the Russian Federation.

Under the resolution of the Annual General Shareholders Meeting, the annual remuneration paid in 2018 to members of the Audit Commission amounted to RUB 440,000. No remunerations were paid to the members of the Audit Commission holding State posts.

In 2018, the Audit Commission held three meetings, which included, among other things, the approval of the action plan and the financial and business audit program of the Audit Commission, and the review of the audit results.

The findings of the Audit Commission were communicated to the General Meeting of Shareholders as an opinion of the Audit Commission on the accuracy and reliability of data included in the Annual report, annual accounting (financial) statements as at 31 December 2018, and in reports on related party transactions under the reporting period, as part of the materials for shareholders.