Institutional Investor Relations

Rosneft shares are among the most attractive investment tools in the Russian stock market. 11.32% of its shares are free float, including 6.1% in the form of Global Depositary Receipts (GDR) traded on the London Stock Exchange (LSE). The Company enjoys a diversified investor base of over 500 institutional investors.

International institutional shareholders of the Company are based in major business and financial hubs, such as New York, Boston, Los Angeles, London, Frankfurt, Stockholm, Hong Kong, Singapore, and Tokyo. For ten years since its IPO, Rosneft shares have been steadily growing in value and outperforming their competitors and the MICEX index. Between 19 July 2006 and 31 December 2018, Rosneft share prices on the Moscow Exchange grew by 113% (more than twice). As at late 2018, the Company’s capitalization was RUB 4.584 trln.

In 2014–2018, Rosneft’s total shareholder return (TSR) was 146.9%, i.e. 27.1 percentage points higher than the average for its Russian peers. Relations with the Company’s investors, both existing and potential, are maintained by the Chairman of the Management Board of Rosneft, First Vice President, heads of business and the Investor Relations Department. In 2018, the Company completed an extensive IR program, including several strategic speeches made by the Chairman of the Management Board at major international investment forums, and over 200 one-on-one and group meetings between the Company’s management and top investment funds.

Feedback from investors is reported to Rosneft’s management on a regular basis.

21 investment banks currently provide analytical coverage of the Company. The Chairman of the Management Board of Rosneft and heads of relevant core functions maintain regular communications with the investor community. At such meetings, investors, analysts, and representatives of international rating agencies are updated on strategic trends in the Company’s development, its operations, and financial management directly by the Company’s management. Rosneft holds quarterly conference calls for investors involving heads of economics, finance, and operations and providing detailed coverage of the Company’s performance in the reporting period. Shareholder and investor materials, such as press releases, presentations, Rosneft’s Annual Report and Sustainability Report, and material facts on resolutions of the Company’s Board of Directors are posted on the Company’s officialwebsite.

As at February 2019, 16 major investment banks recommend to “buy” or “hold” Rosneft shares / GDRs.

2019 Priorities

• Promote fast, high-quality, and skillful financial communications
• Improve disclosure standards
• Focus on investor and shareholder relations

2018 Investor Relations Highlights

JANUARY

• Deutsche Bank CEEMEA Conference, London
• HSBC Non-Deal Road Show, London, Singapore

February

• Credit Suisse Energy Summit, Vail
• J.P. Morgan Credit Emerging Markets Conference, Miami
• Citi Non-Deal Road Show, San Francisco, Los Angeles

MARCH

• J.P. Morgan CEEMEA Conference, London
• Credit Suisse Citi Non-Deal Road Show, Boston
• An Investor conference call involving heads of finance, economics, and operations
• Disclosure of the Company’s performance for 2017

APRIL

• Goldman Sachs Russia Corporate Days, Frankfurt
• BAML Energy and Utilities Conference, London

MAY

• Morgan Stanley CEEMEA Conference, London
• Sberbank CIB Russia Conference Moscow
• Trip to the Yurubcheno-Tokhomskoye field with investors and analysts, Krasnoyarsk
• Disclosure of the Company’s performance for Q1 2018
• An Investor conference call involving heads of finance, economics, and operations

JUNE

• UBS Annual LATEMEA Conference, London
• BAML CalGEMs CEO/CFO Conference, Los Angeles

AUGUST

• Disclosure of the Company’s performance for Q2 2018
• An Investor conference call involving heads of finance, economics, and operations

SEPTEMBER

• HSBC GEMs Investor forum London

OCTOBER

• Goldman Sachs European Non-Deal Road Show
• Renaissance Capital Middle East and Asia Non-Deal Road Show, Dubai, Abu Dhabi, Singapore

NOVEMBER

• Goldman Sachs CEEMEA, London
• Goldman Sachs Global Natural Resources conference, London
• UBS Global Emerging Markets 1:1 Conference, New York
• VTB Capital Investment Forum RUSSIA CALLING!, Moscow
• HSBC North America Non-Deal Road Show, New York, Boston
• Disclosure of the Company’s performance for Q3 2018
• An Investor conference call involving heads of finance, economics, and operations

DECEMBER

• Wood & Company Winter Emerging Europe Conference, Prague