LKOD.L Regulatory News (LKOD)

NOTIFICATION OF MAJOR HOLDINGSi

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii:

Public Joint Stock Company

"Oil Company "LUKOIL" ("PJSC LUKOIL")

Sretenski blvd, 11, 101000 Moscow, Russia

LEI 549300LCJ1UJXHYBWI24

1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)

Non-UK issuer

X

2. Reason for the notification (please mark the appropriate box or boxes with an "X")

An acquisition or disposal of voting rights

X

An acquisition or disposal of financial instruments

An event changing the breakdown of voting rights

Other (please specify)iii:

3. Details of person(s) subject to the notification obligationiv

(a) Name

PJSC LUKOIL

City and country of registered office (if applicable)

Moscow, Russia

(b) Name

LUKOIL International GmbH

City and country of registered office (if applicable)

Vienna, Austria

(c) Name

LUKOIL Holding BV

City and country of registered office (if applicable)

Amsterdam, Netherlands

(d) Name

LUKOIL Investments Cyprus Limited

City and country of registered office (if applicable)

Nicosia, Cyprus

4. Full name of shareholder(s) (if different from 3.)v

Name

N/A

City and country of registered office (if applicable)

N/A

5. Date on which the threshold was crossed or reachedvi:

10 July 2018

6. Date on which issuer notified (DD/MM/YYYY):

18 July 2018

7. Total positions of person(s) subject to the notification obligation

% of voting rights attached to shares (total of 8. A)

% of voting rights through financial instruments(total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights of issuervii

(A) PJSC LUKOIL:

Resulting situation on the date on which threshold was crossed or reached

11.82%

0%

11.82%

100,563,255

Position of previous notification (if

applicable)

16.18%

0%

16.18%

(B) LUKOIL International GmbH and LUKOIL Holding BV:

Resulting situation on the date on which threshold was crossed or reached

0%

0%

0%

0

Position of previous notification (if

applicable)

N/A

N/A

N/A

(C) LUKOIL Investments Cyprus Limited:

Resulting situation on the date on which threshold was crossed or reached

0%

0%

0%

0

Position of previous notification (if

applicable)

16.18%

0%

16.18%

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))

Type of financial instrument

Expirationdatex

Exercise/Conversion Periodxi

Number of voting rights that may be acquired if the instrument is

exercised/converted.

% of voting rights

SUBTOTAL 8. B 1

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))

Type of financial instrument

Expirationdatex

Exercise/Conversion Period xi

Physical or cash

settlementxii

Number of voting rights

% of voting rights

SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the

applicable box with an "X")

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii

Full chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv (please add additional rows as necessary)

Namexv

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

PJSC LUKOIL

11.82%

0%

11.82%

LUKOIL International GmbH

0%

0%

0%

LUKOIL Holding BV

0%

0%

0%

LUKOIL Investments Cyprus Limited

0%

0%

0%

10. In case of proxy voting, please identify:

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional informationxvi

Place of completion

Moscow

Date of completion

18 July 2018