LUKOIL BOARD OF DIRECTORS APPROVES MEMBERS OF THE COMPANY MANAGEMENT COMMITTEE

The Board of Directors of PJSC LUKOIL held its meeting in Moscow today where the following quantitative and personal composition of the Management Committee was approved:

At the meeting the Board of Directors approved the principal terms and conditions of contracts with the members of the Management Committee, resolved to pay a one-off bonus to the President of PJSC LUKOIL and determined the amount of payment for the services of the Company’s auditor (JSC KPMG) in regards to the audit of accounting (financial) statements of the Company for 2021.

The Board of Directors debriefed the Sustainability Report of the LUKOIL Group for 2020.

The issue on independence of the members of the Company’s Board of Directors was also reviewed. In accordance with the Moscow Exchange Listing Rules and provisions of the Corporate Governance Code the following members of the Board of Directors were recognized as independent: Toby Gati, Roger Munnings, Boris Porfirev, Pavel Teplukhin, Sergey Shatalov and Wolfgang Schüssel .

The Work Plan of the Board of Directors of PJSC LUKOIL for 2021/2022 was also approved at the meeting.