LKOD.L Regulatory News (LKOD)

THE BOARD OF DIRECTORS OF PJSC "LUKOIL" APPROVES AGENDA OF ANNUAL GENERAL MEETING

A meeting of the Board of Directors of PJSC "LUKOIL" was held in Astrakhan on 26 April 2017 and made resolutions relating to recommendations on distribution of profits and the amount of dividends based on the 2016 annual results and resolutions on calling of the Annual General Shareholders Meeting of PJSC "LUKOIL". The Annual General Shareholders Meeting will be held at 11:00 a.m. on 21 June 2017 at the following address: Moscow, Sretensky Bulvar 11, PJSC "LUKOIL", building Vega, Conference Hall (entrance from Kostyansky pereulok). Registration of persons participating in the meeting shall begin at 09:30 a.m.

It was determined that the date of determination (fixing) of persons entitled to participate in the Annual General Shareholders Meeting shall be 29 May 2017.

The postal address to which completed ballots may be sent: 123100, Russian Federation, Moscow, Krasnopresnenskaya Naberezhnaya 6, OOO "Registrator "Garant". The deadline for receipt of completed ballots shall be 18 June 2017.

The Board of Directors approved the following agenda for the Annual General Shareholders Meeting of PJSC "LUKOIL".

1. Approval of the 2016 Annual Report of PJSC "LUKOIL" and the annual accounting (financial) statements, including the income statement of the Company, and also distribution of profits and adoption of a decision on payment (declaration) of dividends based on the 2016 annual results;

2. Election of the members of the Board of Directors of PJSC "LUKOIL";

3. Election of the members of the Audit Commission of PJSC "LUKOIL";

4. On the remuneration and reimbursement of expenses to members of the Board of Directors of PJSC "LUKOIL";

5. On the remuneration of members of the Audit Commission of PJSC "LUKOIL".

6. Approval of the Auditor of PJSC "LUKOIL";

7. Approval of Amendments and addenda to the Charter of Public Joint Stock Company "Oil company "LUKOIL";

8. Approval of Amendments and addenda to the Regulations on the Procedure for Preparing and Holding the General Shareholders Meeting of PJSC "LUKOIL";

9. Approval of Amendments to the Regulations on the Board of Directors of PJSC "LUKOIL";

10. Decision on consent to perform an interested-party transaction.

The Board of Directors has approved the list of materials to be provided to shareholders while preparing for the Annual General Shareholders Meeting.

The Board of Directors also approved recommendations on voting all items on the agenda.

The full text of recommendations of the Board of Directors on the Annual General Shareholders Meeting agenda will be included in the set of documents provided to the shareholders in preparation for the Annual General Shareholders Meeting. These documents will be available on the Company's websites at www.lukoil.ru (in Russian) and at www.lukoil.com (in English) from 19 May 2017.

In particular it was recommended that the Annual General Shareholders Meeting adopt the following decisions:

- To approve the annual accounting (financial) statements, including the financial results report, and also the distribution of profits based on the 2016 annual results as follows:

The net profit of PJSC "LUKOIL"* based on the 2016 annual results equalled 182,566,224,000 roubles.

* Profits reflect unconsolidated profits of PJSC "LUKOIL" in accordance with the Russian Accounting Standards.

The net profit in the amount of 102,067,590,600 roubles based on the 2016 annual results (excluding the profit distributed as interim dividends of 63,792,244,125 roubles for the first nine months of 2016) be distributed for the payment of dividends.

The rest of the profit shall be left undistributed.

To pay dividends on ordinary shares of PJSC "LUKOIL" based on the 2016 annual results in the amount of 120 roubles per ordinary share (excluding the interim dividends of 75 roubles per ordinary share paid for the first nine months of 2016). The total amount of dividends payable for 2016 including the earlier paid interim dividends will be 195 roubles per ordinary share.

The dividends of 120 roubles per ordinary share be paid using monetary funds from the account of PJSC "LUKOIL": to nominee shareholders and trust managers who are professional market participants registered in the shareholder register of PJSC "LUKOIL" to be made not later than 21 July 2017, dividend payments to other persons registered in the shareholder register of PJSC "LUKOIL" to be made not later than 11 August 2017.

The costs on the transfer of dividends, regardless of the means, will be paid by PJSC "LUKOIL".

To propose that the Annual General Shareholders Meeting set 10 July 2017 as the date on which persons entitled to receive dividends based on the 2016 annual results will be determined.

- To elect the Board of Directors of PJSC "LUKOIL", consisting of 11 members, from the list of candidates approved by the Board of Directors of PJSC "LUKOIL" on 6 March 2017.

- To elect the Audit Commission of PJSC "LUKOIL" from the list of candidates approved by the Board of Directors of PJSC "LUKOIL" on 6 March 2017.

- To approve the independent auditor of PJSC "LUKOIL" - Joint stock company KPMG.

- To approve Amendments and addenda to the Charter of Public Joint Stock Company "Oil company "LUKOIL", to the Regulations on the Procedure for Preparing and Holding the General Shareholders Meeting of PJSC "LUKOIL";

- To approve Amendments to the Regulations on the Board of Directors of PJSC "LUKOIL";

- To make a decision on consent to perform an interested-party transaction.