LUKOIL BOARD OF DIRECTORS APPROVES MEMBERS OF COMPANY MANAGEMENT COMMITTEE
Thursday, July 24, 2014
The Board of Directors of OAO LUKOIL held a meeting in Moscow on the 23rd of July. The following size and personal composition of the Management Committee were approved:
| 1. | Vagit Alekperov | President |
| 2. | Vadim Vorobyov | Vice-President, Petroleum Product Sales Coordination |
| 3. | Sergei Kukura | First Vice-President |
| 4. | Ravil Maganov | First Executive Vice-President |
| 5. | Sergei Malyukov | Vice-President, Control and Internal Audit |
| 6. | Ivan Maslyaev | Vice-President, General Counsel |
| 7. | Alexander Matytsyn | Senior Vice-President, Finance |
| 8. | Anatoly Moskalenko | Vice-President, Human Resources Management and Corporate Structure Development |
| 9. | Vladimir Nekrasov | First Vice-President |
| 10. | Valery Subbotin | Vice-President, Sales and Supplies |
| 11. | Gennady Fedotov | Vice-President, Economics and Planning |
| 12. | Evgueni Khavkin | Vice-President, OAO LUKOIL Chief of Staff |
| 13. | Lyubov Khoba | Vice-President, Chief Accountant |
| 14. | Azat Shamsuarov | Senior Vice-President, Oil and Gas Production |
The candidates for the Management Committee had been recommended by the President of OAO LUKOIL and approved by the HR and Compensation Committee of the Board of Directors of OAO LUKOIL.
The Board of Directors also empowered the OAO LUKOIL Management Committee to develop and approve the Action Plan aimed at holding the extraordinary General Shareholders Meeting to make a decision on the payment of interim dividends on OAO LUKOIL ordinary shares. The payment will be based on the results of the corresponding reporting period of the 2014 financial year, and the dividend amount was recommended by the Strategy and Investment Committee of the Board of Directors at RUR 60 per ordinary share, based on the financial and economic totals of LUKOIL Group in the first half of 2014.*
The Board of Directors approved the terms of the supplement agreement with ZAO Computershare Registrar, LUKOIL’s registrar, who on July 7, 2014 received all rights and obligations of OAO Registrar NIKoil, including the function of keeping the OAO LUKOIL shareholder register.
* Recommendations regarding the dividend amount for OAO LUKOIL shares basing on the results of the corresponding reporting period of the 2014 financial year, the dividend-payment procedure, and also the setting of the date for naming those who have the right to receive the dividends, will be issued by the Board of Directors parallel to the discussion of the holding of an extraordinary general shareholders meeting within the time limits set by the RF legislation. The decision on the payment (announcement) of dividends is adopted by a general shareholders meeting of OAO LUKOIL.
